Have you heard of the Bank for International Settlements?
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The Bank for International Settlements (BIS).
Possibly the most powerful bank that most people haven't heard of.
Known as the central bank for central banks.
The BIS was set up in Basel, Switzerland, in 1930 to facilitate World War I reparations payments from Germany.
It was partly the brainchild of Montagu Norman, the Depression-era Governor of the Bank of England.
Norman, or rather those he was representing, wanted a new bank that would serve as the world’s first international financial institution.
A meeting place for central bankers. Away from the demands of politicians and the prying eyes of nosy journalists, the bankers would bring some much needed order and coordination to the world financial system.
Norman’s proposal gained an eager advocate in Hjalmar Schacht, the Reichsbank president.
The Reichsbank was the Central Bank of the German Reich at the time.
Schacht saw the BIS as a way of easing Germany’s reparations burden, but it became far more than that:
The BIS helped to sell gold seized by the Nazis from occupied nations and acted as a conduit of hard currency that allowed the Third Reich to buy raw materials throughout the war - to the point where Emil Puhl, the Reichsbank Vice President, described the BIS as the "only real foreign branch" of the Reichsbank.
The BIS's morally tainted wartime experience almost sank it at the 1944 Bretton Woods Conference, when Treasury Secretary Henry Morgenthau and lead American delegate to the conference Harry Dexter White sought to liquidate it...while setting up the post-war international system dominated by the World Bank and International Monetary Fund.
However, the BIS's powerful friends...intervened to save it.
Since then, the BIS has continually reinvented itself.
In the previous video we spoke about the Petrodollar Era, and the massive impact that this has had on foreign policy.
It was the CIA who imported a new leader for the so called "people's rebellion" in Libya.
Indeed, Khalifa Hafter had spent the past 20 years living with no known source of income just five miles away from the CIA's headquarters in Langley.
Cheney expressed great concern in a speech in 1999 that foreign governments were controlling oil.
"While many regions of the world offer great oil opportunities, the Middle East, with two thirds of the world's oil and the lowest cost, is still where the prize ultimately lies."
Wesley Clark, a former Supreme Allied Commander of Nato, claims that in 2001, a general in the Pentagon showed him a piece of paper...
This agenda fitted perfectly with the famous think-tank called the Project for the New American Century.
So how is this all relevant to the BIS?
Well, the Libyan government controlled more of its oil than any other nation on earth and it is the type of oil that Europe finds easiest to refine - OK that seems like incentive enough to impose democracy - but there's more:
Libya also controlled its own finances.
For the seven countries named by Clark, what did they have in common?
None of them were listed among the member banks of the BIS, putting them outside the long regulatory arm of the central banker's central bank in Switzerland.
What about today?
Well, naturally, the BIS is preaching about the importance of Central bank Independence.
As well as this, they have a new innovation hub, incorporating research into Central Bank Digital Currencies.
The BIS continues to operate with less disclosure than the central banks that make up its executive committee.
Its assets are protected against seizure.
Its process of establishing capital requirements for banks remains...opaque.
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