A timeline on gold reserves, and Russia, and WW2

One of the main issues in the Second World War, that doesn’t seem to get a lot of attention, was the background to how everyone was paying for everything.

Just been reading more also of the background in Russia at the time, so thought I’d pop this page together.


Stalin, at the start of World War 2 had just completed the Great Purge, as it was called.

When capital punishment was abolished in Russia in February 1917, Russian troops formed “soldier committees” and everywhere men were refusing to obey their officers.

Lenin sued for peace in December 1917 as German troops rapidly advanced.

However, the ongoing civil war, particularly down in the Ukraine, only really stopped when Stalin reinstated the death penalty and started executing “traitors and terrorists”, increasing it to the rate of 1,000 per day in 1937. Probably one million and more were executed as a result. It mostly ended in the middle of 1938.

With so much instability now solved, formed a treaty with Hitler in 1939.

Russia would reign east of Poland and supply Germany with all necessary war materials as Hitler conquered the West.

Hitler despised Russia, ruled by the same “Jewish financiers” that he saw in the US and London, but he needed its help. Stalin bent over backwards, in some ways, to supply Hitler, doubtless he remembered what had happened in 1917.

There were some problems regarding payment though, and non-delivery in mid-1940.

When Hitler formed the treaty with Japan at the end of 1940, Stalin said he wanted in.

Germany then sent its terms for what Russia would be expected to do, Russia replied with adjusted terms, and Germany then never replied back.

In mid-1941, Hitler invaded, declaring that Russia would collapse like a “house of cards” just like it did in 1917, and indeed the Russians retreated right up to Moscow, yes, where apparently all the gold was.

While announcing to the world that Moscow was now his, Hitler didn’t take it, he was running short of oil supplies, and he turned south to the Ukraine. Yes, in all the confusion, he was far too overextended, and by now there were huge numbers of Russians ready and willing to die for their homeland. The German war machine was heaps more efficient when it came to war, but Hitler’s pride, his arrogance, was doubtless his undoing.