The BIS

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joe2baba
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The BIS

hi y'all

well a friend just sent me this interesting article by ellen brown author of web of debt.

it is rather lengthy but well worth the read. it helps understand some of the discussion of the mark to market rules and the role they play in our current economic situation. it should go a long way to help the people on this site who do not believe in the NWO how it operates. of course this would require suspending assumptions and reading with an open mind.

 

The
Tower of Basel :
Secretive Plans for the Issuing of a Global Currency

Do
we really want the Bank for International Settlements (BIS) issuing our global
currency?

 

By
Ellen Brown

Global Research, April 18, 2009

In an April 7 article in The London
Telegraph
titled “The G20 Moves the World a Step Closer to a
Global Currency,” Ambrose Evans-Pritchard wrote:

 

“A single clause in Point 19 of the communiqué issued by the
G20 leaders amounts to revolution in the global financial order. 

 

“We
have agreed to support a general SDR allocation which will inject $250bn
(£170bn) into the world economy and increase global liquidity,’ it said.
SDRs are Special Drawing Rights, a synthetic paper currency issued by the
International Monetary Fund that has lain dormant for half a century. 

 

“In
effect, the G20 leaders have activated the IMF’s power to create money
and begin global ‘quantitative easing’. In doing so, they are
putting a de facto world currency into play. It is outside the control of any
sovereign body. Conspiracy theorists will love it.”

 

Indeed they will.  The
article is subtitled, “The world is a step closer to a global currency,
backed by a global central bank, running monetary policy for all
humanity.”  Which naturally raises the question, who or what will serve
as this global central bank, cloaked with the power to issue the global
currency and police monetary policy for all humanity?  When the world’s
central bankers met in Washington
last September, they discussed what body might be in a position to serve in
that awesome and fearful role.  A former governor of the Bank of England
stated:

 

“[T]he
answer might already be staring us in the face, in the form of the Bank for
International Settlements (BIS).... The IMF tends to couch its warnings about
economic problems in very diplomatic language, but the BIS is more independent
and much better placed to deal with this if it is given the power to do
so.”
1  

 

And if that vision doesn’t
alarm conspiracy theorists, it should.  The BIS has been called “the most
exclusive, secretive, and powerful supranational club in the world.” 
Founded in Basel ,
Switzerland , in 1930, it has been
scandal-ridden from its beginnings.  According to Charles Higham in his book Trading
with the Enemy
, by the late 1930s the BIS had assumed an openly pro-Nazi
bias.  This was corroborated years later in a BBC Timewatch film titled
“Banking with Hitler,” broadcast in 1998.
2  In
1944, the American government backed a resolution at the Bretton-Woods
Conference calling for the liquidation of the BIS, following Czech accusations
that it was laundering gold stolen by the Nazis from occupied Europe; but the
central bankers succeeded in quietly snuffing out the American resolution.
3

 

 


Modest beginnings, BIS Office, Hotel Savoy-Univers,
Basel


First Annual General Meeting, 1931

In Tragedy and Hope: A History of the World in Our Time (1966), Dr.
Carroll Quigley revealed the key role played in global finance by the BIS
behind the scenes.  Dr. Quigley was Professor of History at
Georgetown University ,
where he was President Bill Clinton’s mentor.  He was also an insider,
groomed by the powerful clique he called “the international bankers.” 
His credibility is heightened by the fact that he actually espoused their
goals.  He wrote:     

 

“I
know of the operations of this network because I have studied it for twenty
years and was permitted for two years, in the early 1960's, 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. ...
[I]n general my chief difference of opinion is that it wishes to remain
unknown, and I believe its role in history is significant enough to be
known.”

 

Quigley wrote of this
international banking network:

 

“[T]he
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 in 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,
said Quigley, 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 statement echoed
an often-quoted one made by the German patriarch of what would become the most
powerful banking dynasty in the world.  Mayer Amschel Bauer Rothschild famously
said in 1791:

 

         “Allow
me to issue and control a nation’s currency, and I care not who makes its
laws.”

 

Mayer’s five
sons were sent to the major capitals of Europe – London ,
Paris , Vienna ,
Berlin and Naples
– with the mission of establishing a banking system that would be outside
government control.  The economic and political systems of nations would be controlled
not by citizens but by bankers, for the benefit of bankers.  Eventually, a
privately-owned “central bank” was established in nearly every
country; and this central banking system has now gained control over the
economies of the world.  Central banks have the authority to print money in
their respective countries, and it is from these banks that governments must
borrow money to pay their debts and fund their operations.  The result is a
global economy in which not only industry but government itself runs on
“credit” (or debt) created by a banking monopoly headed by a
network of private central banks; and at the top of this network is the BIS,
the “central bank of central banks” in
Basel .

Behind the Curtain

 

For many years the BIS
kept a very low profile, operating behind the scenes in an abandoned hotel.  It
was here that decisions were reached to devalue or defend currencies, fix the
price of gold, regulate offshore banking, and raise or lower short-term
interest rates.  In 1977, however, the BIS gave up its anonymity in exchange
for more efficient headquarters.  The new building has been described as
“an eighteen story-high circular skyscraper that rises above the medieval
city like some misplaced nuclear reactor.”  It quickly became known as the
“ Tower of
Basel .”  Today the BIS has
governmental immunity, pays no taxes, and has its own private police force.
4  It is,
as Mayer Rothschild envisioned, above the law. 

 

The BIS is now
composed of 55 member nations, but the club that meets regularly in
Basel is a much smaller
group; and even within it, there is a hierarchy.  In a 1983 article in Harper’s
Magazine
called “Ruling the World of Money,” Edward Jay Epstein
wrote that where the real business gets done is in “a sort of inner club
made up of the half dozen or so powerful central bankers who find themselves
more or less in the same monetary boat” – those from Germany, the
United States, Switzerland, Italy, Japan and England.  Epstein said:

 

“The
prime value, which also seems to demarcate the inner club from the rest of the
BIS members, is the firm belief that central banks should act independently of
their home governments. . . . A second and closely related belief of the inner
club is that politicians should not be trusted to decide the fate of the
international monetary system.”

 

In 1974, the Basel
Committee on Banking Supervision was created by the central bank Governors of
the Group of Ten nations (now expanded to twenty).  The BIS provides the
twelve-member Secretariat for the Committee.  The Committee, in turn, sets the
rules for banking globally, including capital requirements and reserve
controls.  In a 2003 article titled “The Bank for International
Settlements Calls for Global Currency,” Joan Veon wrote:

 

“The
BIS is where all of the world’s central banks meet to analyze the global
economy and determine what course of action they will take next to put more
money in their pockets, since they control the amount of money in circulation
and how much interest they are going to charge governments and banks for
borrowing from them. . . .

 

“When
you understand that the BIS pulls the strings of the world’s monetary
system, you then understand that they have the ability to create a financial
boom or bust in a country.  If that country is not doing what the money lenders
want, then all they have to do is sell its currency.”
5

 

The Controversial
Basel Accords

 

The power of the BIS
to make or break economies was demonstrated in 1988, when it issued a Basel
Accord raising bank capital requirements from 6% to 8%.  By then,
Japan had emerged as the world’s largest
creditor; but Japan ’s
banks were less well capitalized than other major international banks.  Raising
the capital requirement forced them to cut back on lending, creating a
recession in Japan like that
suffered in the U.S.
today.  Property prices fell and loans went into default as the security for
them shriveled up.  A downward spiral followed, ending with the total
bankruptcy of the banks, which had to be nationalized – although that
word was not used, in order to avoid criticism.
6

 

Among other collateral
damage produced by the Basel Accords was a spate of suicides among Indian
farmers unable to get loans.  The BIS capital adequacy standards required loans
to private borrowers to be “risk-weighted,” with the degree of risk
determined by private rating agencies; and farmers and small business owners
could not afford the agencies’ fees.  Banks therefore assigned 100 percent
risk to the loans, and then resisted extending credit to these
“high-risk” borrowers because more capital was required to cover
the loans.  When the conscience of the nation was aroused by the Indian
suicides, the government, lamenting the neglect of farmers by commercial banks,
established a policy of ending the “financial exclusion” of the
weak; but this step had little real effect on lending practices, due largely to
the strictures imposed by the BIS from abroad.
7

 

Similar complaints
have come from Korea . 
An article in the December 12, 2008 Korea Times titled “BIS Calls
Trigger Vicious Cycle” described how Korean entrepreneurs with good
collateral cannot get operational loans from Korean banks, at a time when the
economic downturn requires increased investment and easier credit:

 

“‘The
Bank of Korea has provided more than 35 trillion won to banks since September
when the global financial crisis went full throttle,’ said a
Seoul analyst, who
declined to be named.  ‘But the effect is not seen at all with the banks
keeping the liquidity in their safes.  They simply don’t lend and one of the biggest reasons is to keep the BIS ratio
high enough to survive
,’ he said. . . . 

 

“Chang
Ha-joon, an economics professor at Cambridge
University , concurs with
the  analyst. ‘What banks do for their own interests, or to improve the
BIS ratio, is against the interests of the whole society.  This is a bad
idea,’ Chang said in a recent telephone interview with Korea Times.”  

                

In a May 2002 article
in The Asia Times titled “Global Economy: The BIS vs. National
Banks,” economist Henry C K Liu observed that the Basel Accords have
forced national banking systems
to march to the same
tune, designed to serve the needs of highly sophisticated global financial
markets, regardless of the developmental needs of their national
economies.”  He wrote
:

 

“[N]ational
banking systems are suddenly thrown into the rigid arms of the Basel Capital
Accord sponsored by the Bank of International Settlement (BIS), or to face the
penalty of usurious risk premium in securing international interbank loans. . .
. National policies suddenly are subjected to profit incentives of private
financial institutions, all members of a hierarchical system controlled and directed
from the money center banks in New
York . The result is to force national banking systems
to privatize . . . .


“BIS regulations serve only the single purpose of
strengthening the international private banking system, even at the peril of
national economies. . . . The IMF and the international banks regulated by the
BIS are a team: the international banks lend recklessly to borrowers in
emerging economies to create a foreign currency debt crisis, the IMF arrives as
a carrier of monetary virus in the name of sound monetary policy, then the
international banks come as vulture investors in the name of financial rescue
to acquire national banks deemed capital inadequate and insolvent by the
BIS.”

 

Ironically, noted Liu,
developing countries with their own natural resources did not actually need the
foreign investment that had trapped them in debt to outsiders: 

 

“Applying
the State Theory of Money [which assumes that a sovereign nation has the power
to issue its own money], any government can fund with its own currency all its
domestic developmental needs to maintain full employment without
inflation.” 

 

When governments fell
into the trap of accepting loans in foreign currencies, however, they became
“debtor nations” subject to IMF and BIS regulation.  They were
forced to divert their production to exports, just to earn the foreign currency
necessary to pay the interest on their loans.  National banks deemed
“capital inadequate” had to deal with strictures comparable to the
“conditionalities” imposed by the IMF on debtor nations:
“escalating capital requirement, loan writeoffs and liquidation, and
restructuring through selloffs, layoffs, downsizing, cost-cutting and freeze on
capital spending.”  Liu wrote:

 

“Reversing
the logic that a sound banking system should lead to full employment and
developmental growth, BIS regulations demand high unemployment and
developmental degradation in national economies as the fair price for a sound
global private banking system.”

 

The Last Domino to Fall

 

While banks in developing
nations were being penalized for falling short of the BIS capital requirements,
large international banks managed to escape the rules, although they actually
carried enormous risk because of their derivative exposure.  The mega-banks
succeeded in avoiding the Basel rules by separating the “risk” of
default out from the loans and selling it off to investors, using a form of
derivative known as “credit default swaps.” 

 


BIS Tower Building ,
Basel


Botta 1 Building, Basel

However, it was not in the game plan that
U.S. banks should escape the BIS
net.  When they managed to sidestep the first Basel Accord, a second set of
rules was imposed known as Basel II.  The new rules were established in 2004,
but they were not levied on U.S.
banks until November 2007, the month after the Dow passed 14,000 to reach its
all-time high.  The economy was all downhill from there.  Basel II had the same
effect on U.S. banks that
Basel I had on Japanese
banks: they have been struggling ever since to survive.8

 

Basel II requires
banks to adjust the value of their marketable securities to the “market
price” of the security, a rule called “mark to market.”
9  The
rule has theoretical merit, but the problem is timing: it was imposed ex post facto, after the banks already had
the hard-to-market assets on their books.  Lenders that had been considered
sufficiently well capitalized to make new loans suddenly found they were
insolvent.  At least, they would have been insolvent if they had tried to sell
their assets, an assumption required by the new rule.  Financial analyst John
Berlau complained:

 

“The
crisis is often called a ‘market failure,’ and the term
‘mark-to-market’ seems to reinforce that. But the mark-to-market
rules are profoundly anti-market and hinder the free-market function of price
discovery. . . . In this case, the accounting rules fail to allow the market
players to hold on to an asset if they don’t like what the market is
currently fetching, an important market action that affects price discovery in
areas from agriculture to antiques.”1
0

 

Imposing the
mark-to-market rule on U.S.
banks caused an instant credit freeze, which proceeded to take down the
economies not only of the U.S.
but of countries worldwide.  In early April 2009, the mark-to-market rule was
finally softened by the U.S. Financial Accounting Standards Board (FASB); but
critics said the modification did not go far enough, and it was done in
response to pressure from politicians and bankers, not out of any fundamental
change of heart or policies by the BIS. 

 

And that is where the
conspiracy theorists come in.  Why did the BIS not retract or at least modify
Basel II after seeing the devastation it had caused?  Why did it sit idly by as
the global economy came crashing down?  Was the goal to create so much economic
havoc that the world would rush with relief into the waiting arms of the BIS
with its privately-created global currency?  The plot thickens…… 

 

 

 

Ellen Brown developed her research skills as an
attorney practicing civil litigation in Los
Angeles . In Web of Debt, her latest book, she
turns those skills to an analysis of the Federal Reserve and “the money
trust.” She shows how this private cartel has usurped the power to create
money from the people themselves, and how we the people can get it back. Her
earlier books focused on the pharmaceutical cartel that gets its power from
“the money trust.” Her eleven books include Forbidden Medicine,
Nature’s Pharmacy (co-authored with Dr. Lynne Walker), and The
Key to Ultimate Health
(co-authored with Dr. Richard Hansen). Her websites
are www.webofdebt.com and
www.ellenbrown.com.

 

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Re: The BIS

Hey Joe-

    I was just going to post this article to "The Definitive Conspiracy Theorist, New World Order, Mad Max, Alex Jones Fan Club Thread" (I LOVE that name!).  But I did a search first, and found that you'd already posted it here. 

   You know what?  I never made the connection that Ellen Brown was the person who wrote "The Web of Debt" until I read it in your post...one of the dozens of books I've bought and have in my yet-to-read-pile to read "when I get time".

   Needless to say, one feels more than a little discombobulated when one starts to realize, more and more, that the reality we  thought existed is not reality at all.

   So how many months do you think we've got before the mainstream perception that things are just a "strained normal" is no more, Joe?  www.LEAP2020.eu is saying by the end of this summer.  But then they also made an interesting comment about it being impossible to conceal the US [upcoming] default after April (this month), as a result of tax data.  If that's true, our time to get our sh%$ together is running short.  Though I think you are in a better state of preparation than many of us.

   Best,

   pinecarr

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: The BIS

pinecarr

first off i am not very well prepared. i started in earnest in 75 on 142 acres but in 89 a divorce ended that. then my plan was to live in india long term, i am on the board of a non profit that does charitable work there. while i was living in india i would administer the programs. also while i was in india in early 08 i found chris's paper on the end of money. it was at that point that my suspicions about the unsustainability of living in india were confirmed so when i came back i went on a crash course of getting my shit together. positives  are my place is free and clear except for rent to the gov. i have 4 acres of mostly woods but  plenty of space for a garden and fruit trees. i am close to town so i can get to town on my bycicle tho it is a dangerous ride currently on a state hiway. negatives are virtually everything i have done for a living is in tatters. i am a real estate agent nuf said and have been in constructuion for over 35 years. i started a medical travel biz 3 years ago but the economy is affecting that. i put my savings into pm's and am just trying to keep it there. we are working on a transtion town initative as well.

as for msm when they will get it i am sorry to say the got it and wont say it ever they are owned by 5 major corps. whose vested interest lies in keeping the sheeple dumbed down. tptb are already fracturing the teaparty movement by making it a partisan issue. 

most people are unaware and as you well know it is damn near impossible to even get people on this site to open to the slightest possibility that none of this is an accident. 

that is the reason i posted this separate from the ct thread which has been hijacked and marginalized so much it is impossible to explore all the possibilties and ramifications .

i will check out leap2020 maybe today thanks for the link.

keep your powder dry

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Re: The BIS

Hey Joe-

    Here's the public portion of the latest from http://www.leap2020.eu/GEAB-N-34-is-available!-Summer-2009-The-international-monetary-system-s-breakdown-is-underway_a3129.html  Their table of contents at that same link is also interesting; it gives a short public teaser-summary of what's inside the subcsriber portion.  But it costs $200 euros/yr for a subscription, which I haven't gone for yet.  I figure I might as well just assume TS is going to HTF in a major way, and use that $ for seeds or fertilizer or whatever instead.  I do enjoy reading articles from a perspective different than the USA-centric perspective we're used to, tho'.

   Yeah, I guess my greatest uncertainties at this point are just the degree of the corruption and intertwinement, and the nature of the interaction between different major powers.  Baaa!!

"GEAB N°34 is available! Summer 2009: The international monetary system’s breakdown is underway

- Public announcement GEAB N°34 (April 15, 200) -

GEAB N°34 is available! Summer 2009: The international monetary system’s breakdown is underway
The next stage of the crisis will result from a Chinese dream. Indeed, what on earth can China be dreaming of, caught – if we listen to Washington – in the “dollar trap” of its 1,400-billion worth of USD-denominated debt (1)? If we believe US leaders and their scores of media experts, China is only dreaming of remaining a prisoner, and even of intensifying the severity of its prison conditions by buying always more US T-Bonds and Dollars (2).

In fact, everyone knows what prisoners dream of? They dream of escaping of course, of getting out of prison. LEAP/E2020 has therefore no doubt that Beijing is now (3) constantly striving to find the means of disposing of, as early as possible, the mountain of « toxic » assets which US Treasuries and Dollars have become, keeping the wealth of 1,300 billion Chinese citizens (4) prisoner. In this issue of the GEAB (N°34), our team describes the “tunnels and galleries” Beijing has secretively begun to dig in the global financial and economic system in order to escape the « dollar trap » by the end of summer 2009. Once the US has defaulted on its debt, it will be time for the « everyman for himself » rule to prevail in the international system, in line with the final statement of the London G20 Summit which reads as a « chronicle of a geopolitical dislocation », as explained by LEAP/E2020 in this issue of the Global Europe Anticipation Bulletin.

Quarterly Chinese foreign exchange reserves growth - Source: People’s Bank of China / New York Times, 04/2009
Quarterly Chinese foreign exchange reserves growth - Source: People’s Bank of China / New York Times, 04/2009
Behind London’s « fools’ game », where everyone pretended to believe that an event of « historical » international co-operation (5) took place, the G20 summit in fact revealed major divisions. The Americans and British (followed by a compliant Japan) desperately tried to preserve their capacity to maintain control over the global financial system, freezing or diluting any significant reform granting more power to the other players, but in fact no longer powerful enough to enforce their aims. The Chinese, Russians, Indians, Brazilians,… strove to change the balance of the international monetary and financial system in their favour, but were unable (or maybe, deep down, unwilling (6)) to impose their reforms. The Europeans (the EU without the United Kingdom) proved incapable of making up their minds between the only two options available: duplicating US and UK policies and sinking along with them, or questioning the very roots of the current monetary and financial system in partnership with the Chinese, the Russians, the Indians and the Brazilians. Today the Europeans have avoided following Washington and London in their endless reproduction of failed past policies (7), but they do not yet dare to prepare for the future.
The ongoing collapse of world trade growth cannot be explained by past relationships – Quarterly growth rates annualized - Source: OECD, March 2009
The ongoing collapse of world trade growth cannot be explained by past relationships – Quarterly growth rates annualized - Source: OECD, March 2009
The Europeans can be held accountable if, in the remaining small window of opportunity (less than 6 months now), they fail to undertake the necessary steps to avoid a 10 year-long tragic crisis (8). Indeed they have the technical know-how that can help to create an international currency based on a basket of the world’s most important currencies, and they know which political approach is required to best combine the various strategic interests of a group of countries whose currencies would comprise the new international reserve currency. Unfortunately, EU leaders (namely Eurozone ones) clearly seem unable to face their responsibilities today, as if they preferred to let the Western system break down (though claiming the contrary) rather than fight to turn it into a bridge leading to a new global system. It may be a choice (LEAP/E2020 does not believe so); it may also be the result of the pusillanimity of EU leaders selected on the basis of their docility (vis-à-vis Washington and major European financial and economic players). In any event, this neutrality is dangerous for the world because it prevents the launch of an effective process to avoid a decade-long tragic crisis to unwind (9).

In this issue of the GEAB, our researchers anticipate the different forms a US default will take at the end of summer 2009, a US default which can no longer be concealed concealable from this April (most taxes are collected in April in the US) onward (10). The perspective of a US default this summer is becoming clearer as public debt is now completely out of control with skyrocketing expenses (+41%) and collapsing tax revenues (-28%), as LEAP/E2020 anticipated more than a year ago. In March 2009 alone, the federal deficit has nearly reached USD 200-billion (way above the most pessimistic forecasts), i.e. a little less than half of the deficit recorded for the entire year 2008 (a record high year) (11). The same trend can be observed at every level of the country’s public organisation: federal state, federated states (12), counties, towns (13), everywhere tax revenues are vanishing, suffocating the whole country with spiraling debts that no one can control anymore (not even Washington).

US tax receipts on corporate income (1930 – 2009) - Sources: US Department of Commerce / Saint Louis Federal Reserve (Q2-Q3 2009 projection by EconomicEdge)
US tax receipts on corporate income (1930 – 2009) - Sources: US Department of Commerce / Saint Louis Federal Reserve (Q2-Q3 2009 projection by EconomicEdge)
In this issue of the GEAB (N°34), our researchers focus on how to explain the « mystery of gold price ». Indeed, our seekers (of information, not gold) identified a number of interesting leads to understand why (14) the price of gold has been fluctuating around the same level for months when the number of gold buyers is constantly increasing and demand for coins and bars far exceeds available supply in many countries.

Finally, our team gives recommendations on how to prepare for the crisis in the coming months, with particular regard to savings and life-insurance.

---------
Notes:

(1) Total Chinese foreign exchange reserves amount to USD 2,000-billion, of which USD-denominated assets are 70 percent maximum, equal to USD 1,400 billion. The remaining 30 percent mainly consists of EUR-denominated assets.

(2) Most of the time, the same « experts » predicted that global economy would benefit from banking deregulation, that the Internet economy was opening up an era of endless growth, that US deficits were a sign of strength, that US house prices would always go up, and that taking on debt was the modern way to get rich.

(3) The message on the necessity to switch international reserve currency, sent out by Beijing to the world – to US authorities in particular –, on the eve of London’s G20 Summit, was not intended to merely test the waters nor was it some vague attempt with no hope of success. The Chinese leaders had no illusion on the chances for this topic to be actually addressed in the G20 Summit, but they wanted it to be discussed in the backrooms, because they wanted to send an unofficial signal to all the players of the international monetary system: in Beijing’s mind, the Dollar system is over! If no one wishes to prepare for a common alternative system, the alternative system will be built some other way, knowing that the actions the Chinese are currently taking corroborate this intention. For instance, precisely these days (random political schedule is rare in Beijing) a book is being published, entitled « Unhappy China », arguing that Chinese leaders should stand up and impose their choices on the international arena. Source: ChinaDailyBBS, 03/27/2009

(4) This link gives the figures to the last cent: ChineInformation.

(5) Angela Merkel was closest to the truth about the G20 summit when she called it « an almost historical event ». The word “almost” is emblematic of what happened in London: the G20 leaders “almost” created a framework for a joint action programme, they “almost” launched new stimulus plans and new international financial rules, they “almost” banned tax-havens, and they “almost” convinced everyone that it would happen. “Almost” but not “really”, will make a big difference for the next stages of the crisis.

(6) In the previous issue of the GEAB (N°33), our team explained this dilemma for the “international system” today. At some point, it is in the interests of new players to simply wait for the current system to break down in order to build a new one, rather than strive to reform it, and suffer a long period of uncertainty.

(7) In particular, outrageous government borrowing - also called « economic stimulus » in Washington and London.

(8) The decisions taken at London’s G20 summit directly contribute to the long-term crisis scenario.

(9) As regards the EU, LEAP/E2020 emphasizes the inanity of all those economic and political « analyses », produced by leading economists and experts close to the American Democrats, and circulated by all the largest international mainstream media, blaming the Europeans for not following in Washington’s footsteps. Paul Krugman in mind for instance, these « very good friends » of Europe, who like it so much that they think they know better than Europe what is best for it (and what it should become, as indeed the same experts usually advocate its extension to Turkey, see Israel and Central Asia), whereas they would be best giving some quality advice to their own party and their new President to prevent their own country from collapsing, as this is what is really at stake today. It is beyond belief that a panel of experts, who, in all these years, sang the praises of a system which is today collapsing under everyone’s nose, still dares give lessons to the rest of the world. Basis decency suggests only one course of conduct worldwide: silence. In Europe, this position, despite the fact that it still enjoys its usual academic and media support, is too outdated to be accepted. LEAP/E2020 believes it is necessary and legitimate to cast a critical eye on the EU, its leaders and its policies; but doing so on the sole criteria of its conformity or otherwise with Washington’s (or London’s) stance is no longer acceptable. In the same way as financiers and business leaders obviously failed to understand that times had changed regarding their stock-options and “golden parachutes”, a number of intellectuals and politicians have not yet fully understood that their points of reference, values and theories now belong to the past. They should think of the elites of the Soviet bloc and they would understand how and how fast a thought system can become obsolete.

(10) Besides collapsing tax revenues, a protest movement has started in the US against using taxes to save Wall Street and against further deficits, blaming the country’s entire leading class. Sources: USAToday, 04/13/2009; MarketWatch, 04/16/2009

(11) Sources: USAToday, 04/11/2009; MarketWatch, 04/10/2009

(12) In California for instance, the first days of April suggested revenues far lesser than the worse forecasts, likely to result in multiplying two-fold California’s debt anticipated a few months ago. A similar trend is under way at the federal level, making it possible to imagine that the annual federal deficit reaches above USD 3,500 billion, i.e. 20 percent of US GDP. Source : CaliforniaCapitol, 04/08/2009

(13) Some towns, like Auburn near Seattle for instance, are compelled to ban trucks from their major freight routes by lack of maintenance financial means. Source: SeattleBusinessJournal, 04/10/2009

(14)Thus enabling to anticipate upcoming trends.

Vendredi 17 Avril 2009"
DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: The BIS

Joe,

There can be little doubt that much of the world is heading for an unprecedented demise of the nation state. National financial sovereignty is being methodically replaced by the private consolidation of a new global cabal - as you have aptly suggested through a number of your posts; we are heading for "feudalism" through the looting of the once dominate middle class that is becoming an endangered species. Wealth and power are being transferred to a small group who operate behind closed doors and above most laws.

Adrian Salbuchi (Argentinean economist and scholar) shares his insight in saying

"When you analyze it, the most profound change the world has undergone in the last 40 years, is that power, the capacity to do, the capacity to make things happen in one way and not in another - that power which is colossal has been privatized."

"What we have nowadays, is private power and private power is running the world government...can we see it? It's not easy. Is it a conspiracy (sic theory)? No way and I'm going to tell you why. Because the organizations, until now, running this private world government have names, addresses, websites, e-mail, they issue documents, they publish books, they have logos, they make reports, it's all out there."

These private organizations do exist and the BIS (Bank of International Settlements) is close to the pinnacle of the true global power pyramid. I suspect that only the elite of the elite, the Bilderberg Group, wields more private power.

The roots of the BIS should make anyone skeptical - in "Trading with the Enemy, how the Allied multinationals supplied Nazi Germany throughtout WW2" Charles Higman tells us that - 

"The BIS "was a joint creation in 1930 of the world's central banks, including the Federal Reserve Bank of New York. Its existence was inspired by Hjalmar Horace Greeley Schacht, Nazi Minister of Economics and president of the Reichsbank, part of whose early upbringing was in Brooklyn, and who had powerful Wall Street connections."

Schacht, even before Hitler rose to power in the Reichstag, pushed for an institution that would retain channels of communication and collusion between the world's financial leaders even in the event of an international conflict. It was written into the Bank's charter, concurred in by the respective governments, that the BIS should be immune from seizure, closure or censure, whether or not its owners were at war. These owners included the Morgan-affiliated First National Bank of New York (among whose directors were Harold S. Vanderbilt and Wendell Willkie), the Bank of England, the Reichsbank, the Bank of Italy, the Bank of France, and other central banks. Established under the Morgan banker Owen D. Young's so-called Young Plan, the BIS's ostensible purpose was to provide the Allies with reparations to be paid by Germany for World War I. The Bank soon turned out to be the instrument of an opposite function. It was to be a money funnel for American and British funds to flow into Hitler's coffers and to help Hitler build up his machine.

The BIS was completely under Hitler's control by the outbreak of World War II. Among the directors under Thomas H. McKittrick were Hermann Shmitz, head of the colossal Nazi industrial trust I.G. Farben, Baron Kurt von Schroder, head of the J.H. Stein Bank of Cologne and a leading officer and financier of the Gestapo; Dr. Walther Funk of the Reichsbank, and, of course, Emil Puhl. These last two figures were Hitler's personal appointees to the board.

On a bright May morning in 1944, while young Americans were dying on the Italian beachheads, Thomas Harrington McKittrick, American president of the Nazi-controlled Bank for International Settlements in Basle, Switzerland, arrived at his office to preside over a fourth annual meeting in time of war. This polished American gentleman sat down with his German, Japanese, Italian, British, and American executive staff to discuss such important matters as the $378 million in gold that had been sent to the Bank by the Nazi government after Pearl Harbor for use by its leaders after the war. Gold that had been looted from the national banks of Austria, Holland, Belgium, and Czechoslovakia, or melted down from the Reichsbank holding of the teeth fillings, spectacle frames, cigarette cases and lighters, and wedding rings of the murdered Jews.

This is an outrageous conflict of interest and pure treason - while young allied soldiers were dying on the battlefield, the private Federal Reserve and other private American banks were loaning the axis powers the money to fight against us.  The architecture of the private global power cabal is easy for anyone to substantiate; the information is readily available. Just to be clear, let me furnish the Wikiperdia definition of a cabal:

A cabal is a number of people united in some close design, usually to promote their private views and interests in a church, state, or other community, often by intrigue. Cabals are sometimes secret societies composed of a few designing persons, and at other times are manifestations of emergent behavior in society or governance on the part of a community of persons who have well established public affiliation or kinship. The term can also be used to refer to the designs of such persons or to the practical consequences of their emergent behavior, and also holds a general meaning of intrigue and conspiracy. Its usage carries strong connotations of shadowy corners, back rooms and insidious influence; a cabal is more evil and selective than, say, a faction, which is simply selfish. Because of this negative connotation, few organizations use the term to refer to themselves or their internal subdivisions.

I think the BIS is undergoing an internal struggle for power and dominance between the original elite club of the US, Great Britain, Japan, Germany and Italy and the current membership of over 50 states. For example, Brazil, China, India and Russia are all vying for more power within and around the BIS.

For example, according to Bloomberg - Bank of China Ltd., the world's third-largest by market value, said April 2 it scrapped a 236 million euro ($308 million) investment in La Compagnie Financiere Edmond De Rothschild after failing to gain Chinese government approval."

Bank of China President Li Lihui said Chinese banks should take a "cautious" stance on overseas acquisitions as more losses at financial companies around the world may be disclosed, China Banking Regulatory Commission Vice Chairman Cai Esheng said Dec. 13. Industrial acquisitions at home or abroad present better opportunities." The deal would have given the Rothschild banks better access to Chinese markets and credit.

This was a major disappointment for the behemoth Rothschild dynasty - which defines its history as being "at
the centre of the world's financial markets for over 200 years. Today,
it provides Investment Banking, Corporate Banking and Private Banking
& Trust services to governments, corporations and individuals
worldwide
."

The struggle places debtor nations, like the US, Great Britain, EU and many third world countries at a disadvantage to the creditor nations like China, Saudi Arabia and Russia.  This is all the more reason why it is critical for us to avoid being subjugated by this evolving private cabal - the new world order. So, how do you stop it?

My suggestion is to drain the swamp by simply abolishing the private Federal Reserve. This would simultaneously restore the constitutionally mandated control and issuance of our money while cutting the ties to the global money masters. Neither a republic nor capitalism may exist when the greatest power of the nation is held in the hands of private international banks.

People are coming to understanding that our monetary system is unjust and irrational - as a nation, we borrow money, with interest applied, from private banks while we are empowered to directly issue the money ourselves - for free. Instantly, we would save the interest charges and subsequent personal income tax while eliminating the Feds manipulation and intervention in all of our markets.

The END the FED rallies will take place on Saturday, April 25, 09 - at all Federal Reserve Banks and Offices. I'll be in Washington or Philadelphia depending on the speakers. Hope to see everyone there!

Larry

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joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: The BIS

china is currently using its reserves to buy commodities at bargain basement prices. they are all ove africa. i dint know but they are probably all over australia as well. stretegic minerals is the name of the game. this is why i recommneded jupiters dance. it is a graphic illustration of one of the most mineral rich places on earth being home to osme of the most heartbreaking poverty.

china has to be very careful right now to maintain the value of the dollar as they deleverage. it is all very quiet.

we are doomed.

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joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: The BIS

larry we do not have to just protest at the fed banks we can protest anywhere. i am organizing one at the federal building in fayetteville.

 

good to have you back i missed you. you have more patience than i do and i love your posts

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pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Re: The BIS

Good post, DrKrbyLuv.  You gave me some leads to more books to order for my pile-of-dozens (going to Amazon through Chris's website, of course)!

One of the things I found interesting was you hit on one of the themes I'm  trying to understand better.  That is, whether there is just one power-group manipulating and controlling things, or whether there are different (geopolitical? "geobanking"?  georesource?) factions vying for that power.  The latter seems more likely, to me, given human nature.

 

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Re: The BIS

Hi Joe-

   Yes, I have found it interesting to watch the moves China is making, at least those we know about!  It is a strange thing to be so anxious about what is going on in the economy and in the world, then go around others I know who are still living life as they always did. 

joe2baba's picture
joe2baba
Status: Martenson Brigade Member (Offline)
Joined: Jun 17 2008
Posts: 807
Re: The BIS

pinecarr

i agree it is surreal at times i am often reminded of the line from butch cassidy and the sundance kid when butch says" somtimes it feels like i got vision and the rest of the world is blind"

also it is good toremember many jews left europe in the thirties before they got hustled off the camps, the ones who ended up in the camps were the ones who refused to believe something so horrible was POSSIBLE

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: The BIS

Joe,

Thanks for the real nice hello - I'm glad to talk with you again.

I really enjoyed reading about your adventures, especially India.  While I have been very fortunate to travel a great deal through my life, and lived in several sates, I have never "lived" anywhere but the US.  A couple weeks per/trip were all I spent in any one international destination.  I always wanted to live somewhere foreign and exotic; for at least a couple of years consecutively. 

joe2baba said -

larry we do not have to just protest at the fed banks we can protest anywhere. i am organizing one at the federal building in fayetteville

Yup, agreed

pinecarr said 

One of the things I found interesting was you hit on one of the themes I'm  trying to understand better.  That is, whether there is just one power-group manipulating and controlling things, or whether there are different (geopolitical? "geobanking"?  georesource?) factions vying for that power.

Interesting question - wish I had the answer.

I think, as we have all posted to this thread, that there is a struggle taking place.  The big picture is that the world's central banks are moving to consolidate under a "supranational" cabal of international bankers.  How much weight will each bring to the table?

There are at least two competing groups - the old west (US, G.B., Japan, Europe, Canada, Australia, etc.) and the others.  China continues to be the major player of the "others" that may include Russia, Iran, India, Iran, Venezuela, etc. And, I think it is safe to say most central banks will welcome the end of the US "petro-dollar" hegemony.

One thing for sure, we are drifting from a nation state to a client state - run by global banks.

Larry

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pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Re: The BIS

Hey Joe- I strangely found hope in your comment about those Jews who left Europe in the 30s, thus avoiding getting taken to camps.  After dealing with the discouragement of loved ones and friends thinking I'm "out there" in my perceptions and beliefs of what's going on, I guess it is a good reminder that sometimes being out there isn't a bad thing.  It made me think of one of the life lessons I try hard to ingrain in my son: "When is the best time to solve a problem?  Before it's a problem!"

DrKrbyLuv-  Thanks for giving your take on the (at least) 2 competing groups for power.  I was kind of perceiving it like that, but getting myself confused in shifting between an international-bankers-and-elite-rich-rule-all paradigm vs a competing-geopolitical-powers view.  I guess I am still trying to decide if these views are mutually exclusive (it is either one way or the other), overlapping, or actually just 2 different aspects of the major power(s). 

 

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
Re: The BIS

Interesting thread and I appreciate the views.  Pretty new to the site and am discouraged by the lack of understanding as well as the outright disgust that many posters here display concerning the NWO.  I'm at a loss that with all of the information as well as the current situation how anyone can deny that this Cabal has taken over the republic.  Then again, most of my acquantances are the same so I shouldn't be surprised.   Keep the info coming and it's great to know I'm not alone;-)

BTW:  Has anyone seen the section on CNBC at around 8:50am ET that's called MARKET WATCH?  They are using the All Seeing Eye as the logo for the section of the show!  The NWO is coming out more aggressively every day and those that aren't prepared had better watch out.

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