The gnomes of Zurich

Definition & Meaning of "the gnomes of Zurich"

the gnomes of zurich

a group of powerful bankers or investors particularly from Switzerland who are believed to have secret political influence

Disapproving

Idiom

What is the origin of the idiom "the gnomes of Zurich" and when to use it?

The origin of the phrase "the gnomes of Zurich" can be traced back to the 1960s. The phrase was popularized by a British politician named Harold Wilson, who used it in a speech in 1964 to criticize the role that Swiss bankers were playing in international finance. The phrase "the gnomes of Zurich" is primarily associated with Swiss bankers and financiers, given the historical context in which the term first emerged. However, the phrase can also be used more generally to refer to powerful and secretive figures in the world of finance who are thought to be manipulating the global financial system for their own gain.

Example

The journalist's investigation uncovered a network of the gnomes of Zurich who were involved in manipulating global currency markets for their own benefit.

The activist group launched a campaign to expose the gnomes of Zurich and other powerful figures in the financial world, calling for greater regulation and oversight of the global financial system.