Re: Banking Secrecy and Nazi Gold

[ichudov@algebra.com (Igor Chudov @ home)]

Tim May wrote:
> I try to deconstruct events, to determine what the real issues are.
> 
> Take the case of the ongoing flap over Switzerland and claims that Swiss
> banks hid gold, jewels, and other forms of money for high-ranking Nazis.
> Adding to the flap--actually, making it a newsworthy event--is the
> allegation, probably true, that some of the gold was taken from Jews and
> others sent to extermination camps.

... snip ...

> OK, so it's clear to all right-thinking persons what should be done:
> Switzerland should return the money to the heirs of those killed by the
> Nazis.
> 
> Ah, but it's not so clear to me. I guess I'm not a right-thinking person.

According to americal common law, as I understand it, no one can get
a valid title to the property from someone who did not have such title.

E.g., if you steal Vulis's car and then sell it to me, I will not have
the title to the car and will have to return it back to Vulis (and may
be able to try to recover my loss from you). The same will be true if
you lend the stolen car to me -- he can get it back if he proves that it
is his.

I find that reasoning to be quite good.

Lending stolen money (or stolen golden teeth) to banks is no different
than lending stolen cars.

American law does not have to apply to Switzerland, but I find that 
particular part of it to be just. The issue, of course, is coming up
with the proof.

I will appreciate if someone could correct me.

	- Igor.