The paper is a critical study of the intellectual relations of analytical psychology and national socialism. I try to show that it was Jung's attempt to establish a psychology of nations that brought him into the same frame as Nazi anti-semitic ideology. In addition, Jung was absorbed by the question of leadership, also a pressing issue during the 1930s. Exploring these ideas as thoroughly as possible leads to a kind of reparation, for I think that post-Jungians do have reparation to make. Then it is possible to revalue Jung's overall project in more positive terms. By coupling a less simplistic methodology and a more sensitive set of values to Jung's basic intuitions about the importance of a psychology of cultural difference, analytical psychology has something to offer a depth psychology that is concerned with processes of political and social transformation.