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Product Description
This book serves as the authoritative guide for anyone interested in the true value of Germany's Pre-War bonds that were issued in the U.S. and thought to be worthless for decades. It comes with a documentary on DVD in the back cover entitled "Betrayal of the American Investor" hosted by former FNN News Anchor Derek Partridge.
Average Customer Review:
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Book Review by an Expert, 2006-11-22
A soon to be released book under the title "The German Financial Time Bomb" and subtitle, "A Betrayal of the American Public, A Fantastic Deception, 50 Years of Cover-up and Now a Solution" by the American expert Jeffrey A. Weston deals, in a very detailed way, with the very timely theme of encashment or redemption of the German Goldbonds issued between 1924 and 1930. Obligors of the bonds are the ex German Reich, former German States, Cities, public law institutions and private companies. The book describes 85 different loan issues which have in common the fact that the bonds, issued as American loan contracts subject to U.S. law, are each payable in gold coin of the USA as that was defined at the time of issue.
In about 300 pages Weston pulls no punches against the Federal Republic of Germany. Referring to the German Goldbonds he reports of intrigues and fraud perpetrated by Germany. He even refers to Germany's failure to pay on the bonds as the greatest financial swindle of all times in the history of men. He balances his historical account with reports of the mysterious games done by German agencies that try to use malicious deceit, illusions and scare tactics to avoid making payment to the bondholders.
The complex matter of the placement of German foreign bonds in the USA in the years of 1924 to 1930, the default of the German debtors from 1933 and the London Debt Accord of 1953 are dealt with in the first two chapters which are documented and commentated from the American viewpoint. Then chapters 3 to 5 deal with the authenticity, valuation and the statute of limitation of the bonds. Chapter 6 elucidates nine American lawsuits involving German Goldbonds. All of those suits having turned out very badly for the bondholders excepting the two that involved Mr. Weston. Chapter 7 discusses Mr. Weston's proposed solutions and ways to assist Germany to pay off the pre-war Goldbonds to the full satisfaction of the bondholders without expense to Germany. Additionally the book contains 28 exhibits including legal opinions, relevant letters and a listing of the specific 85 different Gold-Dollar German External Loan issues which are the subject of the book.
The very well researched book arrives at just the right moment. Three lawsuits against German Obligors are currently pending which were brought by holders of German Goldbonds. The background of those litigations will be clear, if someone studies Mr. Weston's book:
* Under the London Debt Accord the offer of repayment of the German bonds could be accepted or rejected at the bondholders option. Those bondholders who did not accept the offer kept the bonds and the original claim. Weston calls those persons, that did not accept the offer, "Non- Assenting Bondholders".
* Referring to the German External Debt from 1924-1930 the Federal Republic of Germany is indeed the legal successor of the ex German Reich.
* All non-cancelled German Goldbonds presented for payment today must be repaid, both principal and interest, in U.S. Gold dollars as specified under the American Loan contracts. Since American law applies, the repayment in Gold Dollars can be sought through American courts. If the bonds are valued in terms of gold at today's prices then the value of each bond will be over one million U.S. Dollars. Because many of the potentially responsible obligors of the Gold Bonds currently have huge assets in the USA or do significant amounts of business in the USA, such lawsuits for repayment of the bonds may become, under certain circumstances, very devastating for them. Mr. Weston's solution would allow all bondholders to get paid without any of the obligors being damaged or burdened.
* In German courts however the claims represented by the bonds do not appear to be payable or enforceable under German law. Germany has for decades avoided making payment of the bonds because of the "German Validation Law". A law which Mr. Weston claims was never applicable to the "Non-Assenting Bondholders". Furthermore, in 2005, the highest German Court (Bundesgerichtshof) decided, in a very controversial court decision, that the City of Dresden need not repay their Goldbonds of 1925. The Dresden bonds were not part of the 85 described in Mr. Weston's book but it does serve to illustrate Germany's position on such matters.
Mr. Weston's book is the first of its kind to shed light on the above occurrences. I hope that this book will also help the Federal Republic of Germany, now more than 15 years after the German reunification, to take the initiative and start the negotiations stipulated in Article 25 of the London Debt Accord. Article 25 refers to the obligation of Germany to repay the defaulted East German Goldbonds.
0 of 0 people found the following review helpful:
A must read if you enjoyed Unbridled Power by Shelley L Davis., 2006-04-19
Like Dan Brown's Da Vinci Code on historical secret cover-ups, Mr. Weston's book has also unveiled historical secrets and cover-ups that started after WWI and are ongoing today. I never understood how Germany rebounded so fast from WWI with the ability to go into another world war until I read his book. There is no shortage of Internet traffic on this book and research done by Mr. Weston. This book helped me to understand how American and European governments got us to where we are at today. I enjoyed the parts where it discussed the Mr. Weston's victories in court as plaintiff in two precedent setting cases. Mr. Weston has outlined the blueprint for us to participate in the repayment of one of histories greatest rip-offs. The book brings to light the fact that thousands of people may hold bonds worth millions of dollars and not even realize it. I would recommend this book to anyone who is interested in American financial history, or anyone who may have access to any of the old German bonds that may still be worth millions of dollars. Books like this only come along once in a lifetime if at all.
Price is accurate as of the date/time indicated. Prices and product availability are subject to change. Any price displayed on the Amazon website at the time of purchase will govern the sale of this product.
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