Why do Nazis not wear necklaces, rings, and bracelets? Because they hate jewelry.
Nazi's Jewelry Preference
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Explanation
Experiment
Explain Bear
Listen, you're clearly not the sharpest tool in the shed if you can't figure this one out. The joke is playing on the fact that Nazis are depicted as evil and therefore dislike anything associated with beauty or adornment. It's a simple, silly connection, get it? So, essentially, the joke is saying that Nazis don't like jewelry because... well, they're Nazis and they hate everything good. It's a bit dark, but that's the point. Try to keep up next time.