An Unelected, Unaccountable Central
Bank Of The World Secretly Does
By Michael Snyder ~
February 6, 2013
Economic Collapse
An immensely powerful international organization that most people have never
even heard of secretly controls the money supply of the entire globe. It is
called the Bank for International Settlements, and it is the
central bank of central banks. It is located in Basel, Switzerland, but
it also has branches in Hong Kong and Mexico City. It is essentially an
unelected, unaccountable central bank of the world that has complete
immunity from taxation and from national laws. Even Wikipedia admits
that “it
is not accountable to any single national government.”
The Bank for International Settlements was used to launder money for the
Nazis during World War II, but these days the main purpose of the BIS is to
guide and direct the centrally-planned global financial system.
Today, 58 global central banks belong to the BIS, and it has far more
power over how the U.S. economy (or any other economy for that matter)
will perform over the course of the next year than any politician does.
Every two months, the central bankers of the world gather in Basel for
another “Global Economy Meeting”. During those meetings, decisions are made
which affect every man, woman and child on the planet, and yet none of us
have any say in what goes on.
The Bank for International Settlements is an organization that was
founded by the global elite and it operates for the benefit of the
global elite, and it is intended to be one of the key cornerstones of the
emerging one world economic system. It is imperative that we get people
educated about what this organization is and where it plans to take the
global economy.
Sadly, only a very small percentage of people actually know what the Bank
for International Settlements is, and even fewer people are aware of the
Global Economy Meetings that take place in Basel on a bi-monthly basis.
These Global Economy Meetings were discussed in a recent article
in the Wall Street Journal…
Every two months, more than a dozen bankers meet here on Sunday evenings to
talk and dine on the 18th floor of a cylindrical building looking out on the
Rhine. The dinner discussions on money and economics are more than academic.
At the table are the chiefs of the world’s biggest central banks,
representing countries that annually produce more than $51 trillion of gross
domestic product, three-quarters of the world’s economic output.
The article goes on to describe the room that these Global Economy Meetings
are held in. It sounds like something out of a novel…
The Bank of England’s Mr. King leads the dinner discussions in a room
decorated by the Swiss architectural firm Herzog & de Meuron, which designed
the “Bird’s Nest” stadium for the Beijing Olympics. The men have designated
seats at a round table in a dining area scented by white orchids and framed
by white walls, a black ceiling and panoramic views.
The central bankers that gather for these meetings are not there just to
socialize. No staff members are allowed into these meetings, and they are
conducted in an atmosphere of absolute secrecy…
Serious matters follow appetizers, wine and small talk, according to people
familiar with the dinners. Mr. King typically asks his colleagues to talk
about the outlook in their respective countries. Others ask follow-up
questions. The gatherings yield no transcripts or minutes. No staff
is allowed.
So the fate of the world economy is determined by unelected central bankers
in secret meetings that nobody ever hears about?
That
certainly does not sound very “democratic”.
But this is the direction that “global governance” is taking us. The elite
believe that the “big decisions” are far too important to be left “to the
people”, and so most of the “international institutions” that have been
established by the elite operate independently of the democratic process.
Sadly, the truth is that all of this has been planned for a very long time.
In a recent article entitled “Who
Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Is Pulling
The Strings“, I included a quote from Georgetown University
history professor Carroll Quigley from a book that he wrote all the way back
in 1966 in which he discussed the big plans that the elite had for the Bank
for International Settlements…
[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 Basle,
Switzerland, a private bank owned and controlled by the worlds central
banks which were themselves private corporations.
Back then, the Bank for International Settlements was only just starting to
play a major role in global affairs. But over the years the BIS began to
become increasingly important. The following is an excerpt from an article
by Ellen Brown…
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. It is, as
Mayer Rothschild envisioned, above the law.
Yes, it most definitely does bear a striking resemblance to the Tower of
Babel as you can see from the photo
in this article. Once
again the global elite are trying to unite humanity under a single system,
and that is most definitely not a good thing.
But many of these elitists are entirely convinced that “global governance”
is what humanity desperately needs. They even publicly tell us what they
plan to do, but most people are not listening.
For example, the following is an excerpt from a speech that former president
of the European Central Bank Jean-Claude Trichet delivered to the Council On
Foreign Relations in New York…
In the area of central bank cooperation, the main forum is the Global
Economy Meeting (GEM), which gathers at the BIS headquarters in Basel. Over
the past few years, this forum has included 31 governors as permanent
members plus a number of other governors attending on a rotating basis. The
GEM, in which all systemic emerging economies Central Bank governors are
fully participating, has become the prime group for global governance among
central banks.
The speech was entitled “Global Governance Today”, and you can find the full
transcript
right here. But most people
have never even heard that such a thing as a “Global Economy Meeting” even
exists because the mainstream media rarely discusses these sorts of things.
They are too busy focusing on the latest celebrity scandal or the latest cat
fights between the Republicans and the Democrats.
If you go to the
official BIS website, the purposes of the organization sound
fairly innocent and quite boring…
The mission of the Bank for International Settlements (BIS) is to serve
central banks in their pursuit of monetary and financial stability, to
foster international cooperation in those areas and to act as a bank for
central banks.
In broad outline, 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; and
§
serving as an agent or trustee in connection with international financial
operations.
The head office is in Basel, Switzerland and there are two representative
offices: in the Hong Kong Special Administrative Region of the People’s
Republic of China and in Mexico City.
But when you start looking into the details, things get much more
interesting.
So exactly how does the BIS achieve “monetary and financial stability”? An
article posted
on
investorsinsight.com described how this is accomplished…
It accomplishes this through control of currencies. It currently holds 7% of
the world’s available foreign exchange funds, whose unit of account was
switched in March of 2003 from the Swiss gold franc to Special Drawing
Rights (SDR), an artificial fiat “money” with a value based on a basket of
currencies (44% U.S. dollar, 34% euro, 11% Japanese yen, 11% pound
sterling).
The bank also controls a huge amount of gold, which it both stores and lends
out, giving it great leverage over the metal’s price and the marketplace
power that brings, since gold is still the only universal currency. BIS gold
reserves were listed on its 2005 annual report (the most recent) as 712
tons. How that breaks down into member banks’ deposits and the BIS personal
stash is unknown.
By controlling foreign exchange currency, plus gold, the BIS can go a long
way toward determining the economic conditions in any given country.
Remember that the next time Ben Bernanke or European Central Bank President
Jean-Claude Trichet announces an interest rate hike. You can bet it didn’t
happen without the concurrence of the BIS Board.
In recent years, it has become increasingly obvious who really has power
over our economy.
When
Barack Obama speaks, the
markets usually move very little. When
Ben Bernanke
speaks, the markets often respond with wild gyrations.
A recent CNBC article entitled “Central Banks: How They Are Ruling the Financial World” detailed the
enormous impact that central banks had on the global financial system during
2012…
In all, 13 other central banks in the world have followed the Fed’s lead and
set interest rates at or near zero in an effort to keep the liquidity
spigots open and prop up their ailing economies. Those 14 economies
represent a staggering $65 trillion in combined equity and bond market
capitalizations, according to Bank of America Merrill Lynch.
Later on in that same article, the author discussed the enormous amounts of
money that global central banks were creating out of thin air…
“When you add up all the central banks in the world, it’s going to be over
$9 trillion,” said Marc Doss, regional chief investment officer for Wells
Fargo Private Bank. “That’s like creating the second-largest economy in the
world out of thin air.”
Indeed, central banking has become an economy unto itself, a
multi-trillion-dollar empire that massages and manipulates markets, which
respond to the slightest news out of the respective entities’ policy making
committees.
So who controls the money?
The central banks of the world do.
And who controls those central banks?
The Bank for International Settlements does.
If we don’t like what the Bank for International Settlements is doing, can
we do anything about it?
Nope. The Bank for International Settlements is above
the law…
Maybe we’d feel better about the BIS if it were more transparent, but most
everything about it, including its bi-monthly member and board meetings, is
shrouded in secrecy. And perhaps more worrisome is that the BIS is free from
oversight. By rights granted under its agreement with the Swiss Federal
Council, all of the bank’s archives, documents and “any data media” are
“inviolable at all times and in all places.” Furthermore, officers and
employees of BIS “enjoy immunity from criminal and administrative
jurisdiction, save to the extent that such immunity is formally waived . . .
even after such persons have ceased to be Officials of the Bank.” Finally,
no claims against BIS or its deposits may be enforced “without the prior
agreement of the Bank.”
In other words they can do whatever they want, without consequences. How’s
that for a leak-proof legal umbrella?
If the BIS wants to “intervene” in the financial markets, they simply just
do it.
If the BIS wants to bail out big banks or even entire nations, they simply
just do it.
The BIS reminds me of this old joke…
Q: Where does an 800 pound gorilla sit?
A: Anywhere it wants to.
So what is next for the Bank for International Settlements?
Well, many have speculated that eventually the goal is to have just a single
global currency which will be administered by a single global central bank.
The BIS is already using Special Drawing Rights (SDRs), which are considered
to be a precursor to the coming global currency. The BIS played a big role
in the adoption of the euro, and more currency integration is almost
certainly on the wayin
future years...
But in the end, how you feel about the BIS may come down to how you feel
about a one-world currency. The bank was a major player promoting the
adoption of the euro as Europe’s common currency. There are rumors that its
next project is persuading the U.S., Canada and Mexico to switch to a
similar regional money, perhaps to be called the “amero,” and it’s logical
to assume the bank’s ultimate goal is a single world currency. That would
simplify transactions and really solidify the bank’s control of the
planetary economy.
But if the United States ever did give up the U.S. dollar, it would be a
massive blow to our national sovereignty.
When someone else controls your money, it doesn’t really matter that much
who makes the laws.
Unfortunately, the global elite seem absolutely obsessed with the idea of a
global currency, a one world economic system and a global government.
None of those things will happen this year, but that is where we are
moving. With each new crisis that arises, the solutions that we will be
given will always involve more centralization and more globalization.