The Vanished Gold of France and Belgium During World War II

Introduction

During World War II, strategic assets such as gold became vital targets for all belligerent nations. The disappearance of a substantial portion of France and Belgium's gold reserves presents an intriguing chapter in history. This article will elucidate the circumstances surrounding the transfer and eventual disappearance of these precious metals.

The Gold Transfer to Safety

As the threat of a global conflict loomed in the 1930s, France and Belgium took proactive measures to safeguard their gold reserves. This strategic transfer became a critical factor in the complex web of alliances and compromises between the nations involved.

France's Gold Disappearance

Fall of France (1940) - During the early stages of World War II, France's gold reserves faced a critical situation. On September 1, 1939, war broke out in Europe, urging the government to take precautionary measures. France managed to transfer about 750 tons of its gold reserves to the United States and Canada. However, approximately 30,000 kg of gold went missing during this period.

After the fall of France, General Charles de Gaulle, the leader of the Free French forces, attempted to recover the gold stored in Dakar, Senegal, in September 1940. Despite their efforts, the gold was eventually moved to what is now Mali, further from the battlefront. The Vichy regime, under collaboration, returned Belgian gold to the Reichsbank, leading to the German acquisition of some French gold with willing assistance.

Belgium's Gold Odyssey

Belgium's Gold Transfer - Belgium's gold reserves, amounting to 600 tonnes, underwent a similarly tumultuous journey. One-third of the gold was transferred to the UK, another third found its way to the US and Canada. The remaining portion was stored temporarily in France. However, as the German invasion neared, the Banque de France transported the gold to Lorient, where it was loaded onto the auxiliary cruiser Victor-Schoelcher. The ship sailed to Dakar, where it faced a hazardous journey inland, eventually ending up in Kayès, deep within the Sahara Desert.

The National Bank of Belgium confronted the Banque de France over the misappropriation of gold. Hubert Ansiaux, representing the National Bank, expressed his dissatisfaction with the decision to divert the gold to Dakar and the subsequent inland movement, particularly noting the lack of collaboration with the National Bank.

The Final Agreement and Disappearance

Franco-German Armistice Talks - In the aftermath of the war, the Germans and French reached an agreement allowing the Belgian gold to be transferred to the Reichsbank. This agreement was influenced by the French Prime Minister, Paul Laval, who sought compensation from the Germans, such as the release of French prisoners of war. Despite the Banque de France's reluctance, the transfer went forward, marking the end of the gold's journey in the context of World War II.

Today, despite these transfers and losses, France retains 2,500 tons of gold, the same amount it had in 1939. The story of the vanished gold of France and Belgium during World War II remains a testament to the strategic importance and tumultuous fate of these precious metals during one of the most significant events in modern history.

Conclusion

The vanishing of France and Belgium's gold reserves during World War II is a tale of shifting alliances, strategic decisions, and the lasting impact of conflict on national assets. The story not only highlights the importance of safeguarding national wealth but also underscores the complexities of wartime economics and the moral dimensions of asset transfers.