Tuesday, May 18, 2010
The board of directors who control the BIS today include Federal Reserve chief Ben Bernanke and Bank of England head Mervyn King, as well as Trichet himself.
“The BIS was an instrument of Hitler, but its continuing existence was approved by Great Britain even after that country went to war with Germany, and the British director Sir Otto Niemeyer, and chairman Montagu Norman, remained in office throughout the war,” writes Higham, explaining how Washington State Congressman John M. Coffee objected to American money being invested with the bank in 1944.
“The Nazi government has 85 million Swiss gold francs on deposit in the BIS. The majority of the board is made up of Nazi officials. Yet American money is being deposited in the Bank,” complained Coffee.
In 1948, the BIS was finally compelled to hand over a mere £4 million in looted Nazi gold to the allies, and thanks to people like Harry Truman and the Rockefeller family, the bank was not dissolved. One of its most influential directors, Nazi banker Emil Puhl was later invited to the United States as a guest of honor in 1950.
Despite its inglorious past, the Bank For International Settlements continues today as a major management arm of the global elite. The bank wields power through its control of vast amounts of global currencies. The BIS controls no less than 7% of the world’s available foreign exchange funds, as well as owning 712 tons of gold bullion, presumably a sizeable portion of which is the bullion which was stolen from occupied countries by the Nazis who controlled the bank during the war.
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