The Search for Nazi Gold

The shiny, black, Mercedes X-Class pickup slowly worked its way down the road about a hundred meters from where I was crouched behind a rock. The fact the pickup was alone and had an M60 machine gun on a pintle mount in the bed told me this wasn't some unit of the Argentine Army. The Argentine Army might have been driving a Mercedes pickup, but it would have been OD green and the machine gun would have been an FN MAG.

The woman nudged me then.

"They'll be on top of us in a few minutes. I'll take out the truck driver and the M60. That'll slow them down while they're trying to figure out where the shots came from. They might run then, but if they don't it'll take both of us to take out the rest. Are you ready for that?"

I was ready, because I knew if we didn't take out all of them, we'd be running for our lives. I'd experienced that before. I was a former US Army Ranger with two tours of Afghanistan under my belt before I decided civilian life would be a whole lot healthier.

I had no reservations about what we had to do, though it was going to be tough. With it's short barrel, iron sights, and a tendency to overheat if fired quickly, the HK G36C carbine I carried lost accuracy fast after about two hundred meters, so they'd have to be closer than that. I could use the old "spray and pray" technique used by some US Army soldiers before the M4's came out with a selector switch for a three round burst instead of just full-auto fire. The problem with that was I only had a hundred and twenty rounds and they wouldn't last long if I did that. After that, all I had was a 9mm Browning pistol. They'd have to be a lot closer before I had any chance of putting even one down with that.

The woman was in better shape for long range shooting. The Israeli M89SR rifle she was crouched behind was accurate out to about a thousand meters if she knew what she was doing, and if she did, the thirty rounds in her magazine would be more than sufficient.

She let the truck get to about seventy-five meters from our position and then put one 7.62 mm round through the windshield. The driver slumped down in the seat at the same time her second shot hit the M60 just behind the operating handle and effectively froze the action. The truck turned sharply into a rock and then the engine died. The whole thing couldn't have taken more than about five seconds. The woman definitely knew her way around a rifle.

The three guys in the truck bed and the one left in the cab bailed out, got behind the truck, and started looking for the shooter. They were going to have a difficult time finding us. The suppressor on the M89SR effectively hid any muzzle flash and any dust caused by the gasses exiting the barrel. It also reduced the sound enough that it would be difficult for the guys to pinpoint it since the echo from the mountains made the sound seem to come from all directions.

The woman and I watched them for the next five minutes, and it became obvious they weren't battle-trained troops. They were probably considered a serious threat by the local population, but to me they were just amateurs -- well-equipped amateurs, but still amateurs.

They were well equipped because they had money, and money was the reason I was in Argentina in the first place. Meeting the woman was just a lucky accident. Well, that's what I thought at the time. I later found out it was no accident.

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The whole thing started six weeks before I found myself with the woman crouched behind a rock and waiting to see what the guys behind the truck were going to do next.

After separating myself from the US Army, I needed some way to keep myself indoors and fed. When I looked at what I knew how to do, planning for close combat and then executing that plan was all I could come up with.

Given the domestic and political climate at the time, a lot of former military men were running self defense schools. After reading about a few of the schools, I decided I could make some money that way too.

I'd been deployed for much of my Army career so most of my Army pay was sitting in my bank. I used half of what I had as a down payment on fifty acres in Eastern Tennessee with a house and barn on it, and built a pistol and rifle range.

I was doing OK, teaching a class a couple times a week in basic gun safety and giving the Tennessee concealed-carry class and test. The other days, I taught advanced courses in long-range rifle shooting and rapid-fire pistol shooting. I also sold targets and ammunition. I wasn't getting rich, but I was able to make the mortgage payments, put food on the table, and keep my fridge stocked with beer.

One afternoon after I'd finished up my class on accurate rapid pistol fire, I was policing brass from the range when a guy in a suit and tie walked up and stuck out his hand. He introduced himself as Marcus Richter.

"Mr. Dale Stevenson -- did I get your name right? Ah, good. Mr. Stevenson, I understand you have somewhat of a unique background, a background I would find useful if you agree to my proposal."

I figured he'd gotten that information from my web site. I thought "US Army Ranger" sounded better than "former military" like some of the school web sites used.

I shrugged.

"I can teach you how to fire a weapon and how to defend yourself in an emergency if that's what you mean."

He shook his head.

"No, though the thought has crossed my mind. Fortunately, I have people who take care of those duties for me.

"No, I'm a successful business man in a rather unique business. I trade in world currencies. It is that business that resulted in my visit to your establishment today. I fear the explanation of that business will be quite lengthy, so would it be possible to find a place where we might sit down and out of the sun?"

I'd converted part of the barn into a classroom for my classes, so I led the man there. Once we were seated, he cleared his throat.

"As I said, I am a trader in world currencies and that includes gold and silver in its many forms, from coinage to bullion. My business is of necessity rather secretive, for were some in the precious metal market to have advanced knowledge of my activities, it would have an impact upon the world pricing of said precious metals. It is such advanced knowledge I hope to exploit to my advantage if you agree to perform a service for me, a service for which you will be very well compensated."

I wasn't entirely convinced this guy was on the level, but I had no reason to stop listening to him.

I smiled.

"It sounds like you have some sort of secret mission you want me to do for you."

He smiled.

"Yes, secrecy is of the utmost importance. When you hear the details, you will understand why.

"As you probably know, in the last stages of World War Two, many high-ranking members of the Nazi party and German military realized any favorable outcome to the war was an impossibility. Germany would be defeated and given the atrocities committed, those same people would be prosecuted for war crimes, found guilty, and imprisoned or executed.

"They began making plans to escape before they were captured by the Allies. Argentina was neutral during the war and indeed declared war on the Axis powers a month before the war in Europe ended, but many in Argentina were still sympathetic toward Germany. As a result, Argentina was viewed as a possible haven by those attempting to escape what would surely be their ultimate fate.

"Argentina, in fact, encouraged those high-ranking people to come there. It is well known that many were able to successfully leave Germany and take up residence in Argentina. The efforts of some Israeli organizations that were able to locate some of them and transport them back to Israel for trial is a testimony to that fact.

"What is not well known is how those same people funded their escape and managed to live in Argentina until they were able to find employment. There are suspicions of the transfer of gold either before or after their escape, but no proof. What is known is there were large caches of gold the Nazi's looted from the countries and people they overran in the early stages of the war.

"While much of that gold was gold bars plundered from the repositories in Austria, Czechoslovakia, and Poland, a significant amount was in the gold taken from individuals. To date, some of that gold has been recovered, but a sizeable portion has not and there are only rumors as to its location...until about a month ago.

"A...shall we say, a friend of a friend mentioned he had been offered a small bar of gold bullion bearing the imprint of the Heraeus Corporation of Germany. I do not know if you know of this German company, but Heraeus has been in the business of refining and producing precious metals since the late 1800's when they discovered a method of melting platinum.

"During World War Two, one small gold smelting facility of the Heraeus corporation located on the outskirts of Hanau, Germany was taken over by the Nazi party, managed by Nazi party members, and slave labor was used for the smelting process. They began melting the gold looted from the countries occupied by the German Army into bullion. The bullion was stamped with the hallmark of the Heraeus corporation in order to make it appear to be legitimate, though the Heraeus company per se had nothing to do with the operation.

"This knowledge has been common since the war ended, but what happened to the gold bullion produced by the Nazi controlled factory has been unknown until this single bar of bullion was offered to this friend of my friend. The offer was made in somewhat secretive circumstances and the design of the hallmark dated to the period of the Second World War. These two things intrigued this friend of my friend and also intrigued me.

"My interest was passing until I spoke to a man who wished to buy gold as an investment. He related a tale told by his grandfather of watching U-boats berthed at Helgoland, Germany when he was twelve years old. His grandfather had watched the U-boats before as they were fueled, armed, and then sent back out to sea. On a few occasions, this was not the case.

"According to his story, over the course of a week, several men in prison uniforms loaded six submarines with wooden cases that appeared much too heavy to be supplies and not large enough to hold munitions. He thought it unusual that they did not load any torpedoes as they always had before, but assumed the submarines were supply submarines used to re-supply U-boats at sea.

"Once the submarines were loaded, the men in prison uniforms were taken away and a few men in the uniform of the German navy went on board, but not in the same numbers this man had seen before. Instead of a full crew, a number of men in business dress also boarded the submarines. The submarines then left port. Three months later, those same six submarines were again docked in Helgoland and were being once again loaded as before. This cycle was repeated two more times before he witnessed the same submarines being loaded with torpedoes and manned by full crews of the German Navy.

"Another very interesting event happened in Argentina at the end of the war. Juan Peron was elected president and set about nationalizing industries and services while at the same time raising the wages of workers. Most importantly, he paid off the entire amount of externally held Argentine debt.

"Because Argentina does mine native gold and silver ore, I have people there to keep me informed about the latest developments. When I heard the stories about the bar of gold bullion and the German submarines and put that story into the context of what I know about the country, I asked my people there to do some research into the matter. The report I received a few weeks ago offered some tantalizing conclusions.

"At the end of the war, Argentina had external debt amounting to about two hundred million US Dollars. When Peron was elected President, he settled the national debt with payments in gold bullion, which is understandable because gold is the currency of the world. What is not understandable is where Peron was able to find enough gold to do that without bankrupting the country. The entire gold reserves of Argentina at the time were about two hundred and fifty million US dollars. He would have had to drain most of those reserves, but apparently did not. He continued to implement his policies by using that same gold reserve.

"My people were not able to identify how that situation changed so rapidly once Peron was in office nor the source of the gold with which he paid the Argentine debt. They were able to report that prior to settling that debt, the Argentine government ceased operations of a small, older smelter in the foothills of the Andes near Mendoza to bring that facility up to the level of current technology. They learned this from an old man who had been employed at the smelter in his youth. He said he was sent home and told to not report for work for two months.

"The man was interested in what changes were going to be made so over the course of seven weeks, he watched the activities at the smelter. He related to my people that the first week, he saw many trucks drive into the smelter and each truck had armed guards who were all tall men who looked European. He could not see what they did in the smelter, but he did notice the smokestack continued to emit smoke just as it had when the smelter was operating.

"A week before his two month furlough was to end, he witnessed those same trucks with the same armed guards drive out of the smelter and take the road that led to Buenos Aires. He also said when he returned to work, there was little difference from how the smelter had operated before."

I wasn't sure what all this had to do with me. When I asked, his face became grim.

"What I and my people believe is that a very large amount of gold was shipped to Argentina by the Nazis on submarines and used to pay the Argentine government for allowing them to stay there. That is the only explanation for how Peron was able to find the gold to pay off the national debt. It is also an explanation for the unusual loading of the submarine and for the bar of gold bullion offered to, as I said, a friend of a friend. The smelter was shut down in order to melt the Nazi gold and then recast it into bullion that bore the Argentine hallmark."

I was still confused.

"OK, that's all well and good, but again, what does that have to do with me?"

He placed his hands on the table between us and smiled.

"I want to pay you to find the rest of the Nazi gold."

Now, I was confused again.

"The rest? I thought you said they melted it all down and recast it."

He shook his head and chuckled.

"I said they melted and recast enough to pay off the Argentine debt, not that they melted and recast all the gold. The total amount of gold plundered by the Nazis is not accurately known, but it has been estimated at nearly two billion US dollars in the currency of the day. About a fourth of that can be reasonably accounted for as it was transferred to various banks in neutral countries, though some of those transfers are disputed. The rest has never been found.

"It is my estimate that the Nazis shipped at least four hundred tons of gold to Argentina on those submarines. In the currency of the day, that would be about half a billion US dollars. In 1945, the Argentine debt was about two hundred million US dollars. That leaves us with a difference of about three hundred million which would be a little over one and a half billion US dollars at today's market price."

I said I didn't think that was feasible because of the weight of gold. It wouldn't fit on a submarine. He smiled.

"Yes, gold is heavy but also very dense and does not require much space. The normal armament for a U-boat of the type loaded at Helgoland was fourteen torpedoes that weighed a little over a ton and a half each. Each submarine could have carried over twenty tons of gold if the torpedoes were not on board. The six submarines making four trips could have carried that much gold and many passengers. With a range of about nine thousand nautical miles, they could easily have made the trip from Germany to Argentina and back in about three months at sea.

It sounded like another Nazi conspiracy theory to me, but it was interesting so I decided to play along for a while.

"So, you want me to find this gold and then what? Hire a bunch of trucks to bring it back to the US?"

He smiled and shook his head.

"No. I only want you to confirm its location from the information my people have developed after almost a year of research. Near Mendoza in Mendoza province, my people located the ruins of what they described as a replica of The Berghof, Hitler's residence in Bavaria. The surrounding area is mostly unpopulated now, but was once the site of a now closed lead mine. We believe the building was built to house German Army and SS officers who fled Germany and surmise the gold must have been secreted in the lead mine. Once you have confirmed the gold is indeed at that location, others will orchestrate its removal and transport.

That little bell in your head that tells you something's not right started to ring.

"Mr. Richter, if your people know where it is, why don't those others you talked about confirm the gold is there and then remove it?"

He pursed his lips.

"My people in Argentina are carefully watched by the Argentine government to detect any financial dealings they might attempt. It is highly likely some in the Argentine government are also aware of their findings. Were my people to investigate that mine...well, the current government of Argentina would consider the gold to be the property of Argentina. It is not, but Argentina would be very upset were they to find it has been discovered and removed from the country."

The little bell in my head was now clanging.

"So what you're asking me to do is illegal? I don't much like the idea of spending time in an Argentine prison."

He shook his head.

"Your involvement will only be to locate and enter an abandoned and unguarded mine, confirm with photographs that the gold is there, and then bring those photographs and an accurate location back to me. It will be as if you were a tourist seeing the countryside and just happened upon the mine during your travels. There is nothing illegal about that.

"You will be well compensated for your efforts. I am prepared to offer you transportation to and from Argentina, a vehicle and other equipment for your use while there, and the sum of one hundred thousand dollars. I have arranged for twenty thousand dollars to be transferred to your bank account immediately upon your arrival in Argentina and commencement of your search. You will, of course, be provided with a small sum for travel expenses. The balance will be transferred upon your return...assuming you are successful. If not, the transfer will be for an additional twenty thousand dollars as payment for your services. The transfers will be from a Swiss bank account and will be untraceable."

As the old saying goes, "If I'd known then what I know now...", but he had just waved a lot of money in my face. I was happy running my school, but it could use some improvements like an actual classroom and a better range. A hundred grand would take care of that plus put some life into my starving bank account.

"Just one question. What are these skills I have that are going to be required and why do you think I'll need them?"

Mr. Richter rubbed his palms together.

"It sounds as if you might be willing to accept my offer. I had hopes you would do so. As for those skills, the mine's location is somewhat of a mystery. My people know the general area, but it has been abandoned for almost eighty years. The area is relatively small, perhaps five hectares, but it is likely the mine entrance has been overgrown if not partially collapsed over time. We know it is not visible from the air because my people have flown over the area multiple times without seeing it. You have the skills to navigate over unfamiliar and rough terrain. Once you are there, you can use the GPS unit included in your equipment to pinpoint the location so my people can find it easily."