Palo Alto: A History of California, Capitalism, and the World Highlight

These funds—the significant discovered portion of Asia’s entire gold wealth, systematically extracted by Japanese gangsters commissioned by the army—served the Hoover clique as an anticommunist slush fund.x The Seagraves write that Hoover held $100 million in Japanese war gold in an account under his own name.42 His enduring cabal used the money to finance right-wing politicians (particularly in Japan), pay bribes, and ensure capitalist governance throughout Asia without burdening the Treasury or incurring oversight.