created in 1929-30
as a consequence of the
to facilitate German WW1 reparations
and to promote central bank cooperation
Montagu Norman
-Governor of the Bank of England-
was the driver for 'central bank cooperation'
1931 Hoover Moratorium cancelled
the German debt
allowing the BIS
to focus on central bank cooperation
The First Annual Report of the
Bank for International Settlements - BIS
lists the following seven banks
Banca d'Italia, Rome
Bank of England, London
Banque de France, Paris
Banque National de Belgique, Brussels
Reichsbank, Berlin
Industrial Bank of Japan, Tokyo
J.P. Morgan, New York
The First National Bank of New York
The First National Bank of Chicago, Chicago
the last three jointly held the shares of
Federal Reserve Bank of New York
Japan lost its shares in the BIS
in the 1952 Treaty of Peace with Japan
The remaining six banks' governors
plus a nominee from each governor
are the twelve permanent directors
comprising total executive control
of the BIS
The Bank for International Settlements
is under a 1944 UN resolution
for its liquidation
"at the earliest possible date"p42 (48)
due to its transferring
looted assets back to the German Reich
President Roosevelt was in favour
of the Resolution for the liquidation
however he died and the Resolution was held up
-and continues to be-
by the US Department of State
The BIS falsely claims that
the Resolution for its
liquidation
was "put aside"
The Resolution
for the liquidation
of the BIS is in effect
It would require the UN committee
to reconvene and "officially"
withdraw the resolution
That did not happen hence
a major misrepresentation
of the truth
The BIS held no board meetings (1939)
during World War Two
American banker Thomas McKittrick
was the President of the BIS
from January 1940 to June 1946
-the entire time looted assets
were transferred from occupied territories
back to the Reich
The Reichsbank
-the central bank of Germany-
was privatized by the Occupation Forces
occupying the Rhineland in 1922
Gates McGarrah
A Federal Reserve Bank of New York director
was the American director
of the general council of the
Reichsbank
after privatization (Career 3rd par)
The Fed was represented
on the General Council
of the Reichsbank
beginning in 1922
while
the Reichsbank allowed
'short selling'
German marks
which destroyed the mark's value
as well as during Germany's rearmament
until 1937 when Hitler
brought the Reichsbank
back under government control
-Governor of the Reichsbank-
"was appointed General Plenipotentiary
for the War Economy in May 1934 and was awarded
honorary membership of the Nazi Party
and the Golden Swastika in January 1937."
-Gates McGarrah-
sat on the board of Germany's
central bank while preparations
for war were well underway
Copyright: Guy Hawkins Powell River BC Canada 2022 reposted under Fair Use Doctrine - news - research - education - commentary