The Bank for International Settlements Who Rules the World Part 2
Enviado por ei en septiembre 17, 2013 – 19:19 pm Frank de Varona
The sordid history of the Bank for International Settlements (BIS)
During the Nuremberg trials that followed the end of World War II, 104 Germans were sentenced to death or to prison terms. Those who received terms in prison included four of the five directors of the BIS.
Hermann Schmitz was sentenced to four years.
Walther Funk, who had worked with Himmler, the SS chief, to ensure that gold and valuables from the Jews at the concentration camps were credited to a special account at the Reichsbank, was sentenced to life imprisonment.
Baron Kurt von Schröder was tried by a German court for crimes against humanity and sentenced to three months in prison. Emil Puhl was sentenced to five years.
As for Hjalmar Schacht, he was found guilty but then he was acquitted since he had been sympathetic to the Allies in the early years of the war.
After the war during the Bretton Woods conference held in New Hampshire in July 1944, Norway proposed the liquidation of the BIS at the earliest possible moment for assisting Nazi Germany to deposit the stolen gold from the occupied nations that it had conquered in the bank.
The liquidation of the bank was supported by other European delegates as well as the United States delegates who included Harry Dexter White and the Secretary of the Treasury Henry Morgenthau.
However, the liquidation of the bank was never actually undertaken. In April 1945, the new United States President Harry S. Truman and the British government suspended the dissolution of the bank. The decision to liquidate the BIS was officially reversed in 1948.
How does the Bank of International Settlements operate today?
The BIS is a bank for all the central banks of the major nations in the world. According to the website of the Bank for International Settlements, the mission for this international bank is to serve central banks in their pursuit of monetary and financial stability, foster international cooperation in those areas, and act as a bank for central banks.
The BIS pursues its mission by:
Promoting discussion and facilitating collaboration among central banks.
Supporting dialogue with other authorities that are responsible for promoting financial stability.
Conducting research on policy issues confronting central banks and financial supervisory authorities.
Acting as a prime counterparty for central banks in their financial transactions.
Serving as an agent or trustee in connection with international financial operations.
The headquarters of the bank remain in Basel, Switzerland and there are two representative offices, one in Hong Kong and the other one in Mexico City.
Acting as the central bank, the BIS has sweeping powers to do things for its own benefit or to assist one of its members central banks. Article 21 of the original BIS statute defines the day-to-day operations as follows:
buying and selling of gold coin or bullion for its own account or for the account of central banks;
holding gold for its own account under reserve in central banks;
accepting the supervision of gold for the account of central banks;
making advances to or borrowing from central banks against gold, bills of exchange, or other short-term obligations of prime liquidity or other approved the securities;
discounting, rediscounting, purchasing or selling with or without its endorsement deals of exchange, checks, and other short-term obligations of prime liquidity;
buying and selling foreign exchange for its own account or for the account of central banks;
buying and selling negotiable securities other than shares for its own account or for the account of central banks;
discounting for central banks bills taken from their portfolio and rediscounting with central banks bills taken from its on portfolio;
opening and maintaining current or deposit accounts with central banks;
accepting deposits in connection with trustee agreements that may be made between the BIS and governments in connection with international settlements.
Organization and governance of the Bank for International Settlements
The bank currently employs 647 staff members from 54 countries.
The three most important decision-making bodies within the bank are: the general meeting of members central banks, the board of directors, and the management of the bank.
The BIS currently has 60 members central banks, all of which are entitled to be represented and to vote in the general meetings. However, voting power is proportionate to the number of BIS shares issued in the country of each member represented at the meeting.
At present, the board of directors of the bank has 19 members. The board has six ex officio directors, made up of the governors of the central banks of Belgium, France, Germany, Italy, and the United Kingdom and the chairman of the Board of Governors of the US Federal Reserve System.
Each ex officio member may appoint another member of the same nationality. The rest of the board of directors is made up through the election of nine other governors from members of central banks.
The governors of the central banks of Canada, China, Japan, Mexico, the Netherlands, Sweden, Switzerland, and the president of the European Central Bank are currently elected members of the board of directors.
The board of directors of the Bank for International Settlements is responsible for determining the strategic and policy directions for the bank, supervising the management, and fulfilling this specific tasks given to by the bank´s statutes. The board meets six times a year.
Edward Jay Epstein explained the major beliefs of the inner circle of the BIS. The members of the board of directors have the firm belief that central banks should act with complete independence of their own governments.
Another belief is that politicians should not be trusted to decide the fate of the international monetary system. The powerful central bankers of the world share a preference for pragmatism and flexibility over ideology.
The most important belief is that they cannot allow a central bank of a large country to fail, for fear that it could jeopardize the entire international monetary system due to interconnectedness with the central banks of other nations. This is a result of globalization and interdependence.
History professor Carroll Quigley from Georgetown University wrote a book entitled Tragedy and Hope: A History of the World in our Time (1966). This professor was a mentor of President Bill Clinton.
Professor Quigley was very familiar with how the international bankers operated in the world. He happened to agree with their goals.
Professor Quigley wrote the following: “I know of the operations of this network because I have studied it for 20 years and was permitted for two years, in the early 1960s to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments.”
Dr. Quigley described the international banking network in the following manner: “The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.
This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at frequent private meetings and conferences.
The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.
The key to their success, was that the international bankers would control and manipulate the money system of a nation while letting it appear to be controlled by the government.”
The founder of the most powerful banking dynasty in the world, Mayer Amschel Bauer (who later adopted the name Rothschild) said in 1791 “allow me to issue and control a nation’s currency, and I care not who makes its laws.”
Four of his five sons were sent to London, Paris, Vienna, and Naples to establish a banking system that would be outside government control. The eldest son stayed at Frankfurt, Germany where the first Rothschild bank had been established.
Eventually, a privately-owned central bank was established in almost every country, including the United States in 1913.
These banking cartels have the authority to print money in their respective countries and governments must borrow money to pay their debts and fund their operations from them. And of course, at the top of this network is the privately-owned BIS, the central bank of the central banks of the world.
Ellen Brown wrote an article entitled “The Tower of Basel: Secretive Plans for the Issuing of a Global Currency” which was published in Global Research on April 17, 2013.
The reporter explained that the British newspaper The London Telegraph had an article entitled “The G-20 Moves the World a Step Closer to a Global Currency.”
The British newspaper said that the leaders of the G-20 nations have agreed to support a currency that was created by the International Monetary Fund called Special Drawing Rights or SDR.
The leaders of the G-20 nations have activated the power to create money and begin global quantitative easing, which is printing money out of thin air, not back by gold or any other thing.
The world is now a step closer to a global currency, backed by a global central banks, running monetary policy for all humanity. The London Telegraph‘s article stated that the financial institution that would do this would be the BIS.
There is no doubt that the BIS is moving the entire world to regional currencies and ultimately, a global currency.
The global currency could be a successor to the SDR, and may be the reason why the BIS recently adopted the SDR as its primary reserve currency. Canada, Mexico, and the United States are members of the trade group called the North American Free Trade Association (NAFTA).
It may be that someday soon a common currency will be used for these three North American nations. It might be called the amero, which will sound like the euro, or some other name such as the NAFTA dollar.
The adoption of the common currency is a voluntary surrender of sovereignty and is a step towards a one-world government dominated by these powerful international bankers.
After World War II, Jean Monnet, a French internationalist, who helped found the League of Nations, had the idea of creating a European Union where nations would relinquish their national sovereignty as an economic necessity.
The BIS came up with the idea creating the euro, which eventually was adopted by 17 European countries.
The removal of the sovereignty of European nations was presented as an economic necessity, rather than as a profound political process.
The powerful elite of international bankers, powerful industrialists with the complicity of government officials, decided to create a one-world government under the United Nations, but controlled by them. Thus, the European Union was born.
The officials and technocrats from the BIS where most instrumental in the creation of the European Union and its currency the euro. They also created the very powerful European Central Bank, a bank that is not accountable to any government or the European Parliament even though, it controls the monetary policy of 17 countries.
The BIS has done very well financially over the years. In 2012, the supranational bank had 355 metric tons of gold and an estimated value of $19 billion.
By the end of March 2012, the BIS made a profit of $1.17 billion. Each year the bank makes over $1 billion in profits. The bank makes much of its profits from the fees and commissions that it charges to central banks for its services.
The relationship of BIS with the International Monetary Fund and the World Bank
The International Monetary Fund (IMF) lends money to national governments when these countries have some type of fiscal or monetary crisis. The IMF raises money by the receiving contributions of its 184 member nations.
Thus, all of its funds are taxpayer’s money. The World Bank also lends money and has 184 member nations.
Within the World Bank are two separate institutions: The International Bank for Reconstruction and Development, which lends money to middle income and poor countries that have good credit, and the International Development Association, which lends money to the poorest countries of the world.
The BIS, as the central bank to the other central banks, facilitates the movement of money and they provide what is known as “bridge loans” to central banks while waiting for the funds of the IMF and/or the World Bank.
For example, when Brazil in 1998 had a currency crisis because it could not pay the enormous accumulated interest on loans made over a protracted period of time, the IMF, the World Bank and the United States bailed out Brazil with a $41.5 billion package.
If that nation had not paid its creditors, United States banks such as Citigroup, J.P. Morgan Chase and Fleet Boston would have lost an enormous amount of money. Thus, the real winners of rescuing the largest country in South America were the U.S. banks that had made risky loans.
Criticisms of the Bank for International Settlements
Adam Lebor has made very strong criticisms of the BIS. He said that this bank is an elitist, opaque, and anti-democratic institution which is out of step with the 21st century.
The legal immunities of the supranational bank perpetuates the belief that the central bankers are unaccountable to everyday citizens and their own governments.
The bank does not reveal the discussions at their meetings with the central bankers of the world or its internal operations. The bank has no accountability or transparency in its operation.
Lebor wrote that the BIS should lose its legal inviolability. It is important that citizens around the world demand more transparency and accountability from the financial institutions that have power over their lives and that includes the BIS.
It is very important for Americans to pay attention to the operations of the BIS and our own Federal Reserve Bank since we could very easily lose our sovereignty and be subjected to the desires and wishes of unelected and undemocratic central bankers of the world.
Emilio Ichikawa » The Bank for International Settlements Who Rules the World