Before the IMF (The International Monetary Fund) changed its spots; prior to WWII it was known as the BIS (Bank for International Settlements); a monolithic monetary mechanism designed for funneling the public’s pilfered loot into private hands. Pulled from the belly of the beast, it retains those spots.
Currently the IMF is the BIS’ “ace in the hole” when monetary crisis hits. Both share resources via the Joint External Debt Hub (JEDH) — developed jointly by the BIS, the IMF, the Organization for Economic Cooperation and Development (OECD) and the World Bank – bringing together external debt data and selected foreign assets from international creditor/market and national debtor sources.
The intriguing fact to be noted here is that, whereas the IMF and The World Bank have remained frequently and conspicuously in the public eye from birth, the BIS has adopted a low profile and remained uncommunicative. That proved to be an expedient tactic for the latter to adopt in order to eluded any investigation into its previous financial dealings with the Third Reich; more importantly, by so dissociating itself from the IMF and World Bank, the latter would henceforth be widely (though erroneously) regarded as the sole guardians of the worldwide economy, thus allowing the BIS inscrutable latitude to follow the agenda set by the corporate establishment.
In other words, the IMF saddles the nation-states with debt, while the BIS reels them in as it divests the client of any real earnings, labor and resources.
Not unlike those grand illusionists from Wall Street, epitomized in the great ‘market maker’ from Goldmann Sachs, Fabrice “Fabulous Fab” Tourre; while filching the public via a shell-game of ‘structured products’ at the street level, similar ‘structured products’ are presented and sold, in greater quantities, by the IMF at a National level.
In exchange for a ‘structured product’ – a sack of air – the IMF imposes a heavy debt noose, intended to wrench loose publicly held properties and enterprises, placing them into capitalist – ‘free market’ hands; think Pinochet and Ronnie Reagan!
Brief History – (Trading With the Enemy – 1985 – Charles Higham)
The Bank for International Settlements was a joint creation in 1930 of the world’s central banks, including the Federal Reserve Bank of New York. Its existence was inspired by Hjalmar Horace Greeley Schacht, Nazi Minister of Economics and president of the Reich bank, with powerful connections in Wall Street.
1944, while young Americans were dying on Italian beachheads, Thomas Harrington McKittrick, American president of the Nazi-controlled Bank for International Settlements in Basle, Switzerland, arrived at his office to preside over fourth annual meeting in time of war. This polished American gentleman sat down with his German, Japanese, Italian, British, and American executive staff to discuss such important matters as the $378 million in gold that had been sent to the Bank by the Nazi government after Pearl Harbor for use by its leaders after the war. This was gold that had been looted from the national banks of Austria, Holland, Belgium, and Czechoslovakia, or melted down from Reich bank holdings.
Sensing Adolf Hitler’s lust for war and conquest, Schacht, even before Hitler rose to power in the Reichstag, pushed for an institution that would retain channels of communication and collusion between world financial leaders even in the event of an international conflict. It was written into the Bank’s charter, concurred in by the respective governments, that the BIS should be immune from seizure, closure, or censure, whether or not its owners were at war. The owners included the Morgan-affiliated First National Bank of New York (among whose directors were Harold S. Vanderbilt and Wendell Willkie), the Bank of England, the Reichsbank, the Bank of Italy, the Bank of France, and other central banks.
The BIS was completely under Hitler’s control by the outbreak of WW II.
At the International Monetary Conference at Bretton Woods, New Hampshire, July 10, 1944, resolutions were introduce calling for the BIS to be dissolved “at the earliest possible moment.” However, pressure was brought to bear to withdraw a second resolution calling for an investigation into the books and records of the BIS during the war. Had such an investigation taken place, the Nazi-American connection would have been exposed.
Throughout the war the BIS played a significant role as collaborator in funneling U.S. monetary support into the Nazi war effort, while divvying up much war loot. Towards the end of the war, calls for dissolution of the BIS, prompted U.S. Secretary of the Treasury, Henry Morgenthau to blurt out, “the bank should be disbanded because to disband it would be good propaganda for the United States.”
In essence, Morgenthau’s dissolving the BIS – sinking it into secrecy – while having it reemerge as the IMF was simply a psychological sleight of hand; propaganda, intended to divert the public mind, and put it to sleep. Sixty-eight years later, there’s no telling what other darkness is still buried within Chase Bank vaults, locked away under the guise of national security!
Peace, Best Wishes and Hope