-----BEGIN PGP SIGNED MESSAGE----- At 07:50 PM 5/7/97 -0500, Igor Chudov @ home wrote:
According to americal common law, as I understand it, no one can get a valid title to the property from someone who did not have such title.
E.g., if you steal Vulis's car and then sell it to me, I will not have the title to the car and will have to return it back to Vulis (and may be able to try to recover my loss from you). The same will be true if you lend the stolen car to me -- he can get it back if he proves that it is his.
The thief's ownership of personal property is good against the whole world save the true owner. "18. In general, possession constitutes the criterion of title of personal property, because no other means exist by which a knowledge of the fact to whom it belongs can be attained. A seller of a chattel is not, therefore, required to show the origin of his title, nor, in general, is a purchaser, without notice of the claim of the owner, compellable to make restitution; but, it seems, that a purchaser from a tenant for life of personal chattels, will not be secure against the claims of those entitled in remainder. Cowp. 432; 1 Bro. C. C. 274; 2 T. R. 376; 3 Atk. 44; 3 V. & B. 16." http://www.constitution.org/bouv/bouviert.txt (Bouvier Law Dictionary a fun Net resource) In the case of money (including gold) and other fungible commodities it can be very hard to determine who owns what once it is out of possession because it all looks alike.
Lending stolen money (or stolen golden teeth) to banks is no different than lending stolen cars.
American law does not have to apply to Switzerland, but I find that particular part of it to be just. The issue, of course, is coming up with the proof.
Most of the assets involved (by volume and value) were the property of governments that had been conquered by Germany or property confiscated from German citizens. Unfortunately, German citizens (like American citizens) are not protected by international law from predation by their own government. Private citizens of conquered countries would be protected but proof will be hard. All of these issues were debated at length in 1946 and settled by the Washington Agreement. The U.S., Britain, and France sat on the gold that Switzerland transferred to it for 50 years (in the basement of the FRB NYC) parcelling it out in dribs and drabs mostly to the treasuries of the conquered nations. They still have a fair chunk of it and are trying to figure who to give it to. I guess holding other people's gold is OK some of the time. Article II.2 of the Washing ton Agreement stipulated: "The Allied Governments declare on their part that, in accepting this amount, they waive in their name and in the name of their banks of issue all claims against the Government of Switzerland and the Swiss National Bank in connection with gold acquired during the war from Germany by Switzerland. All questions relative to such gold will thus be regulated." Switzerland transferred appox 1,658,000 oz of gold to the Allies with a current value of $568,750,000. DCF -----BEGIN PGP SIGNATURE----- Version: 4.5 iQCVAgUBM3FTWoVO4r4sgSPhAQFO/wP/S/BYuawAVnBvg57XtcQgY+fCX8D+JX5g YLM8dSK0rlxzbPYzXojNH6mzRG5DRfVJrXoPK3yIE0roUhF4F6ZMKZTNqewZqNlF cyWoNMdx7LMgQLDezS1dofy8EQiZ3nIMaJP5WpEB2d8efMbq+Z5DRzzHBm9T9g4l X8ckiPg5F3s= =n4Gr -----END PGP SIGNATURE-----