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This text is an examination of the roots of Swiss banking, in order to explain the success of Switzerland's banks. The historical overview begins in medieval times, to show how banking developed with the modern nation, and goes on to cover the contemporary controversy over World War II and "Nazi gold". The author argues that Swiss banking did not originate with the exiled Hugenot bankers of Geneva. Rather, centuries before Louis XIV, Basle had become a principal banking centre, although it was not yet part of the Swiss federation.