According to a report in the “Reischspost”, the Christian-social undersecretary of state Dr. Rasch has determined on the basis of tax statistics that at the moment there are about 8,000 multi-millionaires living in the capital, of whom... 7,200 are Jews![1]
On October 20, 1920, the Limburger Courier brought the striking news from Vienna that more than 90% of the multi-millionaires in the Austrian capital were Jewish. According to the author of the article, this was no coincidence. In Vienna, Jewish traders, smugglers and usurers were considered 'people suckers', which is why the author inextricably linked Jews with money and wealth, at the expense of others.[2]
This accusation against Jews in their quest for financial gain is just one of many examples of newspaper articles from the past in which a negative association was made between Jews and money. There are plenty of similar examples in the 17th, 18th and 19th centuries. This association still has an impact on national thinking today, as can be seen in recent reports on social media about figures such as Soros and the Rothschild family. On platforms such as X, Facebook and Instagram, it is claimed daily that these Jewish families have acquired their wealth dishonestly and that they are only greedy for more. The stereotype that Jews and money are inseparable therefore has a long history that lives on in people's minds to this day. But where does this idea actually come from?
“The Man Who Knows How to Make a Bargain,” London 1829 — anti-Semitic cartoon depicting Baron Meyer de Rothschild as a Jewish old clothes man. The anti-Semitic message is clear: whether bankers or beggars, Jews are not to be trusted. “Jews, Money, Myth” (Jewish Museum, London).
The Middle Ages
The association of Jews with trade and money has its origins in the socio-economic position of Jews in medieval Europe. Jews, mainly around the Mediterranean, were traditionally involved in the trade in goods and later in money. Due to social exclusion — Jews were excluded from positions in government and the army, and opportunities in crafts and trades became increasingly scarce in this period because they had to be members of a guild, which Jews were not allowed to do — Jews were forced to specialize in the trade in goods and money. The Christian church considered trade to be unspiritual and interest to be a sin. Charging interest was an as a contaminated, or necessary, activity. Jews, on the other hand, had no other choice and therefore jumped into this vacuum.
From the twelfth century onwards, Jews became more visible through their involvement in the trade in money. They acted as financiers and moneylenders for the elite, such as kings, clergy and city councils, which offered them a certain protection. Of course, this only concerned a small upper class; Most Jews lived a marginal existence during this period. Although they were certainly not the only minority group to lend money during this period, Jews were the most criticized for their demand for interest. As outsiders and 'infidels', they were the main target of criticism and hatred. An image of the Jewish usurer, who lends money in exchange for 'usury' — excessively high interest, increasingly emerged.
(Early) Capitalism and the Market Economy
With the rise of the market economy, (early) capitalism and industrialization, traders, including Jews, profited and a small upper class of wealthy Jewish bankers and entrepreneurs emerged. Because of their outsider position, expertise in trade and acquired equal civil rights, Jews often played a pioneering role, partly with a stake in the rise of capitalism. They participated in new economic projects, such as railway construction and department stores, and gained access to universities and new industries, such as modern journalism and administrative professions. This involvement also brought Jews into the middle class. However, anti-Semitic writings in the modern period associated Jews with the excesses of capitalism, portrayed them as profiteers and exploiters, and created stereotypes such as the wealthy Jew, the Jewish usurer, the Jewish miser and the Jewish banker. The stereotype of Jews and money linked them not only to wealth, but also to negative characteristics such as greed and avarice, with group activities being seen as unchangeable characteristics.
The 'Big Jewish Money' on Social Media
The deep-rooted history of associations between Jews and money continues to influence our thinking today. On social media platforms such as Facebook, Instagram, and X, greed and avarice continue to be associated with Jews. An example of this is the statement by @JoostNiemoller on X, in which he claims that George Soros, a prominent Jewish businessman and billionaire, is actually running a 'super scam' behind the scenes with his philanthropy.[3]
While the exact meaning of this scam is not explained, it certainly suggests that something is wrong. Another recent example comes from an account named Daniel Veres. On January 4, 2024, he wrote: “Only 1.9% of the US population is Jewish, but they have 32% representation in government, while AIPAC[4] throws money around lavishly'.[5]
It is clear that the message of this post shows many similarities with the newspaper article from the Limburger Courant. The association of Jews with negative characteristics such as greed and avarice, rooted in historical circumstances, continues to exist to this day.
[1] Limburger courier: provincial daily newspaper, 20-10-1920
[2] This article uses information from the article 'Trade & Money' on antisemitism.nu. For the full article, click here: https://www.antisemitisme.nu/stereotypen/handel-geld
[3] X, @JoostNiemoller, https://twitter.com/JoostNiemoller/status/1178223272770637824
[4] AIPAC: American Israel Public Affairs Committee
[5] X, Daniel Veres, https://twitter.com/DanielLouisCss/status/1742841626743959643