Logo of Phnom Penh Post newspaper Phnom Penh Post - Inside Germany’s secret Cold War backup cash bunker



Inside Germany’s secret Cold War backup cash bunker

Content image - Phnom Penh Post
Petra Reuter, owner of the Bundesbank Bunker Museum in the former vault of the bunker museum in Cochem on February 8. AFP

Inside Germany’s secret Cold War backup cash bunker

For many years, the residents of the leafy town of Cochem in the German Rhineland went about their daily business with no idea they were living on a gold mine.

During the Cold War, the German central bank stashed away almost 15 billion marks’ worth of an emergency currency in a 1,500sqm nuclear bunker beneath the town.

A closely guarded state secret, the currency was codenamed “BBK II” and intended for use if Germany was the target of an attack on its monetary system.

After the Cold War, the bunker passed into the hands of a regional cooperative bank and then a real estate fund. In 2016, it was bought by German couple Manfred and Petra Reuter, who turned it into a museum.

Today, with Russia’s invasion of Ukraine stoking fears of nuclear conflict, interest in the bunker is growing again.

“Many people we know have pointed out that we have a safe bunker and asked whether there would be room for them in case of an emergency,” said Petra Reuter.

On tours of the bunker, “questions are naturally asked about the current situation”, which feels like “a leap back in time 60 years”, she said. “The fears are the same.”

Inside, behind a heavy iron door, long corridors lead to decontamination chambers and offices equipped with typewriters and rotary phones.

The main room consists of 12 cages where, for almost 25 years, some 18,300 boxes containing millions of 10, 20, 50 and 100 mark banknotes were stored up to the ceiling.

Hundreds of trucks

On the front, the banknotes were almost identical to the real deutschmarks in circulation at the time, but on the back they were very different.

Content image - Phnom Penh Post
The original and substitute 100 Mark notes in the former vault of the Bundesbank Bunker Museum in Cochem on February 8. AFP

Starting in 1964, the notes were delivered to the bunker by hundreds of trucks over a period of about 10 years, with no one suspecting a thing – not even the East German Stasi secret police.

The bunker was accessed via a secret passage from what was ostensibly a training and development centre for Bundesbank employees in a residential area of the town.

Cochem, located about 100km from the border with Belgium and Luxembourg, was chosen because it was such a long way from the Iron Curtain.

“The citizens of the community were astonished to discover this treasure, which had been hidden for so long near their homes,” said Wolfgang Lambertz, the former mayor of the town, which has around 5,000 inhabitants.

Along with the 15 billion marks stored in the bunker, just under 11 billion marks’ worth of the alternative currency was also stored in the vaults of the central bank in Frankfurt.

Altogether, this added up to around 25 billion marks – roughly equivalent to the total amount of cash circulating in the German economy in 1963.

Operation Bernhard

Perhaps an extreme measure to ward off a merely hypothetical attack, but the German authorities had been guided by lessons from history.

During World War II, the Nazis had launched “Operation Bernhard”, in which prisoners in concentration camps were forced to manufacture counterfeit pounds with the aim of flooding England with them.

“The most plausible explanation was probably the fear that counterfeit money would be smuggled through the Iron Curtain in order to damage the West German economy,” according to Bernd Kaltenhaueser, president of the Bundesbank’s regional office for Rhineland-Palatinate and Saarland.

But creating a backup currency today “would no longer make sense because there is less counterfeit money in circulation and there are fewer cash payments”, according to Kaltenhaueser.

In the 1980s, with the Cold War winding down and technology evolving, it was decided that the replacement currency no longer met Germany’s security standards.

By 1989, the year the Berlin Wall fell, all of the notes had been taken out of the bunker, shredded and burned.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro