Germany’s central bank pledges 'never again' as it confronts its Nazi history

Germany’s central bank, the Bundesbank, published a new 100-page research booklet report on Friday regarding the nation's Nazi history while pledging it would “never again” take part in acts of antisemitism or any other bigotry.

The report took a critical look at the central bank’s activities during the Nazi era, when it played an instrumental role in financing Nazi Germany’s war efforts across Europe and elsewhere which included confiscating and expropriating Jewish assets believed to be worth billions of dollars.

Albrecht Ritschl, who co-authored the report and serves as a professor of Economic History at the London School of Economics, emphasized that the Reichsbank willingly cooperated with Adolf Hitler during the Nazi era.

“The Reichsbank acted as a willing stooge and receiver of stolen goods in the context of the financial holocaust,” Ritschl said.

Bundesbank President Joachim Nagel hopes that the critical report will reach a wide audience to learn from the evils of the past. The head of the bank said the report “traces how central bankers became willing accessories to a criminal regime,” implying that the lessons from the Nazi past still apply today.

In January, the Jerusalem Post uncovered a South African bank network that is deeply involved in financing the Hamas regime, which admires Hitler and openly calls for the destruction of the Jewish nation.

The Iranian-backed terror proxy Hamas has also received extensive financial and military assistance from the Islamist regime in Tehran.

The German central bank head vowed to combat Jew-hatred in German society. “Never again should there be antisemitism in Germany,” Nagel vowed.

“Never again should minorities be excluded and subjected to state tyranny, never again should government bodies like the central bank be allowed to trample on democratic values,” he added.

Germany has emerged in recent years as one of Israel’s closest allies in the European Union.

The German government announced in January that it would defend Israel against the false “genocide” charges presented by South Africa at the International Court of Justice (ICJ) in The Hague. Berlin made it clear that it holds Hamas responsible for the Oct. 7 aggression and massacres of innocent Israeli civilians.

“On October 7, 2023, Hamas terrorists brutally attacked, tortured, killed and kidnapped innocent people in Israel,” the German government stated.

“Hamas’s goal is to wipe out Israel. Since then, Israel has been defending itself against the inhumane attack by Hamas,” it added.

Berlin concluded by firmly rejecting the false “genocide” charges presented against the Jewish state, which it said was exercising its right of self-defense against the unprecedented Hamas assault.

“The Federal Government firmly and expressly rejects the accusation of genocide that has now been made against Israel at the International Court of Justice. This accusation has no basis whatsoever.”

In late September, mere weeks before Hamas launched the war on Oct. 7, Germany and Israel signed a historic defense agreement when Berlin decided to buy the Israeli-developed Arrow-3 missile defense system for some $3.5 billion.

At the time, Israeli Defense Minister Yoav Gallant praised the German-Israeli bilateral ties.

“Since the establishment of our ties, Germany has contributed greatly to Israel’s security. Today we are proud to do the same for Germany – a strategic ally, and European leader,” Gallant stated.

As a son of a Holocaust-surviving mother, the Israeli defense minister noted the immense transformation in relations between Germans and Jews since the Holocaust.

“Only 80 years since the end of the Second World War, yet Israel and Germany join hands today in building a safer future for both nations,” Gallant concluded.