Quotes  - Reinventing the World

Excerpts from:

Global Banking: The Bank for International Settlements

by Patrick M. Wood,  Executive Director of World Research Library (WRL)

http://www.augustreview.com/index.php?option=com_content&task=view&id=7&Itemid=4


See also Part 1: A Third Way to a Good Society by Professor Amitai Etzioni:

The good society is a partnership of three sectors: government, private sector, and community. Each one reflects and serves a distinct facet of our community. ... While these partners may differ in terms of their respective roles, and these may change with social condition, in a good society the three sectors seek to cooperate with one another." [page 24]



When David Rockefeller and Zbigniew Brzezinski founded the Trilateral Commission in 1973, the intent was to create a "New International Economic Order" (NIEO). To this end, they brought together 300 elite corporate, political and academic leaders from North America, Japan and Europe....  How did they do it?


The answer is the Bank for International Settlements (BIS), self-described as the "central bank for central bankers", that controls the vast global banking system with the precision of a Swiss watch....


The BIS, as we shall see, is not accountable to any public authority and operates with complete autonomy and self-sufficiency.


Leading up to Founding
As we will see, the BIS was founded in 1930 during a very troubled time in history.... In the aftermath of World War I and the impending collapse of the German economy and political structure, a plan was needed to rescue and restore Germany, which would also insulate other economies in Europe from being affected adversely....
 

In 1924 the Allies appointed a committee of international bankers, led by Charles G. Dawes (and accompanied by J.P. Morgan agent, Owen Young), to develop a plan to get reparations payments back on track. Historian Carroll Quigley noted that the Dawes Plan was "largely a J.P. Morgan production."...


The Young Plan was so odious to the Germans that many credit it as a precondition to Hitler's rise to power. Fritz Thyssen, a leading Nazi Industrialist, stated, "I turned to the National socialist party only after I became convinced that the fight against the Young Plan was unavoidable if complete collapse of Germany was to be prevented." 2


....we will instead defer to the insight of renowned Georgetown historian, Carroll Quigley:

"The Power of financial capitalism had another far reaching plan, 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 feudalistic fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks, which were themselves private corporations. Each central bank... sought to dominate its government by its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence co-operative politicians by subsequent rewards in the business world."4 [Bold emphasis added] ...

BIS Ownership

"The BIS was formed with funding by the central banks of six nations, Belgium, France, Germany, Italy, Japan, and the United Kingdom. In addition, three private international banks from the United States also assisted in financing the establishment of the BIS."...U.S. representation at the BIS was three times that of any other nation. Who were these private banks? Not surprisingly, they were J.P. Morgan & Company, First National Bank of New York and First National Bank of Chicago....
 

Sovereignty and Secrecy


It is not surprising that the BIS, its offices, employees, directors and members share an incredible immunity from virtually all regulation, scrutiny and accountability. ... A quick summary of their immunity, explained further below, includes

  • diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches)

  • no taxation on any transactions, including salaries paid to employees

  • embassy-type immunity for all buildings and/or offices operated by the BIS

  • no oversight or knowledge of operations by any government authority

  • freedom from immigration restrictions

  • freedom to encrypt any and all communications of any sort

  • freedom from any legal jurisdiction9

Further, members of the BIS board of directors (for instance, Alan Greenspan) are individually granted special benefits:

  • “immunity from arrest or imprisonment and immunity from seizure of their personal baggage, save in flagrant cases of criminal offence;”

  • “inviolability of all papers and documents;”

  • “immunity from jurisdiction, even after their mission has been accomplished, for acts carried out in the discharge of their duties, including words spoken and writings;”

  • “exemption for themselves, their spouses and children from any immigration restrictions, from any formalities concerning the registration of aliens and from any obligations relating to national service in Switzerland ;”

  • “the right to use codes in official communications or to receive or send documents or correspondence by means of couriers or diplomatic bags.”10 ...


How the BIS works with the IMF and the World Bank


IMF Bailout for Brazil is Windfall to Banks, Disaster for US Taxpayers Says Sanders
 

BURLINGTON, VERMONT - August 15 - Congressman Bernard Sanders (I-VT), the Ranking Member of the International Monetary Policy and Trade Subcommittee, today called for an immediate Congressional investigation of the recent $30 billion International Monetary Fund (IMF) bailout of Brazil.
       Sanders, who is strongly opposed to the bailout and considers it corporate welfare, wants Congress to find out why U.S. taxpayers are being asked to provide billions of dollars to Brazil and how much of this money will be funneled to U.S. banks such as Citigroup, FleetBoston and J.P. Morgan Chase. These banks have about $25.6 billion in outstanding loans to Brazilian borrowers. U.S. taxpayers currently fund the IMF through a $37 billion line of credit.
       Sanders said, "At a time when we have a $6 trillion national debt, a growing federal deficit, and an increasing number of unmet social needs for our veterans, seniors, and children, it is unacceptable that billions of U.S. taxpayer dollars are being sent to the IMF to bailout Brazil."
      "This money is not going to significantly help the poor people of that country. The real winners in this situation are the large, profitable U.S. banks such as Citigroup that have made billions of dollars in risky investments...

NOTE: Carl Teichrib, World Research Library Senior Fellow, contributed to this report.
 


See also The Globalization Strategy: America and Europe in the Crucible


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