In 1945, US Intelligence officers in Manila discovered that the Japanese had hidden large quantities of gold bullion and other looted treasure in the Philippines. President Truman decided to recover the gold but to keep its riches secret. These would be combined with treasure recovered inside Japan during the US occupation, and with Nazi loot recovered in Europe, to create a worldwide American political action fund to fight communism. Overseen by General MacArthur, President Truman, and John Foster Dulles, this "Black Gold" gave Washington virtually limitless, unaccountable funds, providing an asset base to reinforce the treasuries of America's allies, to bribe political and military leaders, and to manipulate elections in foreign countries for more than fifty years. Drawing on a vast range of original documents and thousands of hours of interviews, Gold Warriors exposes one of the great state secrets of the twentieth century.
Sterling Seagrave was a reporter for the Washington Post before becoming a freelance investigative journalist contributing to Time, Life, Atlantic Monthly, and the Far Eastern Economic Review. He is the author of The Soong Dynasty, among other books. Peggy Seagrave was the senior researcher and picture editor at Time-Life Books. Together they are the authors of the bestselling Lords of the Rim and The Yamato Dynasty.