To Godwin this, imagine that Nazis succeeded in exterminating every Jew in the world. Would it then be acceptable for the Nazis to keep their gold/jewelry/art/etc?
If the answer is no, would the Nazis have the right to keep their gold/jewelry/art/etc if they waited a few hundred years until the world noticed that the Holocaust happened?
Bad example. Jewish people got Israel as a misbegotten reparation. Indigenous people who are again still alive and deserve reparations are getting their rights and treaties trampled instead. Their claim to the land is not a thought experiment.
If the answer is no, would the Nazis have the right to keep their gold/jewelry/art/etc if they waited a few hundred years until the world noticed that the Holocaust happened?