Objective Recent works on anti‐Americanism have indicated a link between anti‐American and anti‐Semitic resentments but neither an explication of the underlying mechanisms nor satisfying empirical data regarding such a relationship exist. This article offers historical insights and theoretical reflections as well as quantitative data for the case of Germany with which the theoretical assumptions are tested. Methods The sample of the study consists of 1,201 respondents randomly selected from the German population older than 18 years (computer‐assisted telephone interviews survey). The data are analyzed using seemingly unrelated regression models. Results Anti‐American and anti‐Semitic attitudes correlate substantially. Multivariate models show that this correlation can be explained via the common function of both to rationalize social change. Conclusion The historical ties of European anti‐Semitism and anti‐Americanism are still prevalent today. They combine into a comprehensive symptom that is constituted by the uncertainty caused by “globalization” and an accelerated “capitalism.”