Meaning of the word "the gnomes of Zurich" in English

What does "the gnomes of Zurich" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

the gnomes of Zurich

US /ðə noʊmz əv ˈzʊrɪk/
UK /ðə noʊmz əv ˈzʊrɪk/
"the gnomes of Zurich" picture

Idiom

1.

a derogatory term for Swiss bankers, implying that they are secretive and powerful, controlling international finance from behind the scenes

Example:
The government's financial decisions were rumored to be influenced by the Gnomes of Zurich.
Many conspiracy theories involve the shadowy influence of the Gnomes of Zurich.
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