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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Robin Plunder who wrote (103509)5/26/2009 9:04:52 AM
From: Hoa Hao  Read Replies (1) of 110194
 
Estimated Value of Pre-Holocaust Looted Jewish Assets

Historians often argue that it is impossible to calculate the exact amount of Jewish assets stolen by the Nazis and their collaborators during the Holocaust era. Although that is true, it is possible to provide a reasonable estimate that can be used as a framework for understanding the issue in terms of what was lost and what has been restored.

In late-1930s prices, the value of Jewish assets amounted to $10-$15 billion. This estimate is based on a 1998 paper by this author; its methodology draws on the pioneering efforts of Nehemiah Robinson in the 1940s and 1950s and other material.[1] This includes estimates of the Jewish share of wealth for each country in Nazi-occupied Europe, tax records, country estimates published at the time, and the asset declarations that the Nazis forced the Jews to file. The $10-$15 billion range is slightly higher than this author's 1998 estimate ($9-$14 billion) because the more recent work of Helen Junz[2] shows somewhat higher numbers for Germany. It should be noted that the amount is based on gross values in that it does not subtract loans and mortgages.

In today's prices (2005) the value of these Jewish assets would be some $143-$215 billion. This was calculated by using the annual increases in the U.S. Consumer Price Index, which from 1939 to 2005 rose by a multiplier of 14.3.[3] This 2005 range should be seen as a minimal amount, as it does not consider earnings from financial holdings or higher real estate values. If these factors were included, the estimated range would roughly double.

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