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Meet The Bis - The Secretive Group That Runs The World

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The BIS have got themselves a nice sweet little deal haven't they:

The Swiss authorities have no juridisdiction over the BIS premises.

...

The BIS is exempt from Swiss taxes. Its employees do not have to pay income tax on their salaries

...

All bank officials are immune under Swiss law, for life, for all the acts carried out during the discharge of their duties

some of the staff of the BIS, especially senior management, are driven by a sense of mission, that they are working for a higher, even celestial purpose"

reminiscent of Lloyd Blankfein's "Goldman Sachs is doing God's work!

The BIS’s assets are not subject to civil claims under Swiss law and can never be seized.

...

But the governors who meet in Basel every other month are public servants. Their salaries, airplane tickets, hotel bills, and lucrative pensions when they retire are paid out of the public purse. The national reserves held by central banks are public money, the wealth of nations.

...

The BIS was founded in 1930. It was ostensibly set up as part of the Young Plan to administer German reparations payments for the First World War.

Interesting how they got their foothold for something with ethical value [war repatriations] and then let it morph into something else. Luckily I am not cynical or I would think that the something else was actually their original plan and the initial set-up a diversion.

During the war, the BIS became a de-facto arm of the Reichsbank, accepting looted Nazi gold and carrying out foreign exchange deals for Nazi Germany.

It is just as well that they are utterly trustworthy or they might abuse their privileges!

I wonder if the creation of the BIS is why the Bank of England Act was signed to hand over the BOE to the UK government. Maybe once they had the BIS they didn't need the BOE anymore and gave it away to keep people quiet. Just a wild theory but I do wonder why a private entity would give away something as powerful as the BOE and what they got in return for it.

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Its current members [ZH: as of 2013] include Ben Bernanke, the chairman of the US Federal Reserve; Sir Mervyn King, the governor of the Bank of England; Mario Draghi, of the European Central Bank; Zhou Xiaochuan of the Bank of China; and the central bank governors of Germany, France, Italy, Sweden, Canada, India, and Brazil. Jaime Caruana, a former governor of the Bank of Spain, the BIS’s general manager, joins them.

At least the BoE is "independent".

Everything that happens in the world of national finance and economics is random and unexpected of course.

Edited by billybong

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The book referenced, Tower of Basel, by Adam Lebor, is highly recommended.

Having read the reviews on Amazon, you have tempted me to buy it. I often give up factual books half way through - I must have a short attention span or ... ooo shiny!

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The BIS shouldn't even exist, at Bretton Woods it was agreed to close it down.

It's amazing that something can have so many privileges especially immunity from prosecution. However I'm sure they never do anything illegal.

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http://www.amazon.co.uk/Money-maelstrom-Johan-Willem-Beyen/dp/B0000CHV9O/ref=sr_1_1?ie=UTF8&qid=1428843538&sr=8-1&keywords=money+in+a+maelstrom

Money in a maelstrom 1951

Johan Willem Beyen former President of BIS

This is an interesting book focussing on the inter-war period and he was head of BIS just before war broke out.

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Hold on, isn't the BIS pretty much the only financial institution that has been calling it correctly and warning of central bank mistakes and systemic problems? Hardly controlling the world then. Pretty much the only institution worthy of any respect IMO.

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Hold on, isn't the BIS pretty much the only financial institution that has been calling it correctly and warning of central bank mistakes and systemic problems? Hardly controlling the world then. Pretty much the only institution worthy of any respect IMO.

Not when all the directors are the very same Central Bankers running the US,UK,Japan,ECB etc... They warn themselves and then promptly ignore their own warnings, it's a great system.

Edited by interestrateripoff

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I know some people who work at the BIS. I think that they would be quite shocked to learn that they were part of a shadowy organisation that secretly runs the world. It seems to be such a secret that the people who work there do not even know it!

It is a small research institute, that offers settlement and banking services for central banks (mainly taking deposits or cash reserves). It publishes a lot of fairly dull papers, and oversees the Basel Accords.

The employees are mainly there on a temporary basis and do work tax free - an incentive to get people to move to a dull town in Switzerland for a few years.

Doahh, your quotations from the Zerohedge article provide no evidence of wrong doing or anything else. A lot of rambling about the Nazis - now irrelevant. The fact that a bunch of central bankers meet there regularly is unsurprising. I would be worried if they were not meeting.

The BIS is made up of representatives of the various central banks and is there to provide a central forum to allow international research and discussion to take place into financial matters, in addition to being a banker to central banks. I am very sceptical that there is anything more to it than that. The Zerohedge article is largely tin foil hat stuff e.g. "The BIS buys and sells gold and foreign exchange for its clients." So what? In bold and underlined, like some massive scoop. Its clients are central banks, why shouldn't they buy gold and foreign exchange?

Anyway, enough of this nonsense.

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I know some people who work at the BIS. I think that they would be quite shocked to learn that they were part of a shadowy organisation that secretly runs the world. It seems to be such a secret that the people who work

Doahh, your quotations from the Zerohedge article provide no evidence of wrong doing or anything else. A lot of rambling about the Nazis - now irrelevant. The fact that a bunch of central bankers meet there regularly is unsurprising. I would be worried if they were not meeting.

Anyway, enough of this nonsense.

I am not sure why any bankers should have immunity from prosecution for their actions for their entire lifetime.

If they were to be found to create a disaster due to their action why would it not be reasonable to seize their assets in order to compensate for loss? That is apparently not possible to do and that seems unreasonable to me.

I would suggest that any organisation that worked so closely with the Nazi's is not one to trust. I don't believe that a leopard such as this will really have changed its spots. I will remain suspicious that the BIS just got better at hiding until the next time it can find some prey.

You have hardly provided any evidence to suggest their actions are ethical and yet you dismiss the article out of hand. It would seem to be a common ploy of multi-nationals to hide the purpose of each action from the people who work there. It is only when seen as a whole that you can understand the purpose and make a decision as to whether it is ethical or not. Your individual friends who work there could be in so close that they can't see the wood for the trees.

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I know some people who work at the BIS. I think that they would be quite shocked to learn that they were part of a shadowy organisation that secretly runs the world. It seems to be such a secret that the people who work there do not even know it!

It is a small research institute, that offers settlement and banking services for central banks (mainly taking deposits or cash reserves). It publishes a lot of fairly dull papers, and oversees the Basel Accords.

The employees are mainly there on a temporary basis and do work tax free - an incentive to get people to move to a dull town in Switzerland for a few years.

Doahh, your quotations from the Zerohedge article provide no evidence of wrong doing or anything else. A lot of rambling about the Nazis - now irrelevant. The fact that a bunch of central bankers meet there regularly is unsurprising. I would be worried if they were not meeting.

The BIS is made up of representatives of the various central banks and is there to provide a central forum to allow international research and discussion to take place into financial matters, in addition to being a banker to central banks. I am very sceptical that there is anything more to it than that. The Zerohedge article is largely tin foil hat stuff e.g. "The BIS buys and sells gold and foreign exchange for its clients." So what? In bold and underlined, like some massive scoop. Its clients are central banks, why shouldn't they buy gold and foreign exchange?

Anyway, enough of this nonsense.

oh great!. an institution, whose members can print vast amounts of money, or their members/owners can print vast amounts of money, buying gold, equities, bonds(rate manipulation) and bail out insolvent banks through the front door, back door and side door, at the direct and indirect cost to the taxpayers. ....And there is nothing wrong with that ?!

you must get out more often.

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Hold on, isn't the BIS pretty much the only financial institution that has been calling it correctly and warning of central bank mistakes and systemic problems? Hardly controlling the world then. Pretty much the only institution worthy of any respect IMO.

don't watch what they say, see what they do......oh, I forgot, it's a secret

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I am not sure why any bankers should have immunity from prosecution for their actions for their entire lifetime.

If they were to be found to create a disaster due to their action why would it not be reasonable to seize their assets in order to compensate for loss? That is apparently not possible to do and that seems unreasonable to me.

I would suggest that any organisation that worked so closely with the Nazi's is not one to trust. I don't believe that a leopard such as this will really have changed its spots. I will remain suspicious that the BIS just got better at hiding until the next time it can find some prey.

You have hardly provided any evidence to suggest their actions are ethical and yet you dismiss the article out of hand. It would seem to be a common ploy of multi-nationals to hide the purpose of each action from the people who work there. It is only when seen as a whole that you can understand the purpose and make a decision as to whether it is ethical or not. Your individual friends who work there could be in so close that they can't see the wood for the trees.

The immunity from Swiss domestic law for actions in relation to its activities relate to the fact that it is a supranational status and its employees have a quasi diplomatic role. It may do things in the course of its ordinary business that run counter to Swiss law - it effectively needs to operate as a central bank within a foreign jurisdiction and therefore undertake activities which would not normally be considered legal if you or I undertook them.

In WW2 it maintained its neutral stance, as it was obliged to do under its founding articles. This meant dealing with the government of Germany.

I have dismissed the article because it put forward very little of substance. The onus is on the article to provide some evidence, rather than paranoid statements.

I know what the people who work there do - it is on the policy/research side. It might be more interesting if they were on the banking operations side, running the banks balance sheet, but that is the nature of central banks - half research institutes and half banks. However, having had a look at its balance sheet, I would like to learn a bit more about it. It looks to me like it takes deposits from central banks and then re-invests those is government securities, to create a profit.

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It would be more interesting to know who is behind ZeroHedge - What their purpose is, who funds them, how they are accountable and so forth.

A very shadowy organisation if ever there was one

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It would be more interesting to know who is behind ZeroHedge - What their purpose is, who funds them, how they are accountable and so forth.

A very shadowy organisation if ever there was one

+10

I also suspect 'Tyler Durden' might not be his real name! :lol:

Edited by RentierParadisio

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The immunity from Swiss domestic law for actions in relation to its activities relate to the fact that it is a supranational status and its employees have a quasi diplomatic role. It may do things in the course of its ordinary business that run counter to Swiss law - it effectively needs to operate as a central bank within a foreign jurisdiction and therefore undertake activities which would not normally be considered legal if you or I undertook them.

In WW2 it maintained its neutral stance, as it was obliged to do under its founding articles. This meant dealing with the government of Germany.

I have dismissed the article because it put forward very little of substance. The onus is on the article to provide some evidence, rather than paranoid statements.

I know what the people who work there do - it is on the policy/research side. It might be more interesting if they were on the banking operations side, running the banks balance sheet, but that is the nature of central banks - half research institutes and half banks. However, having had a look at its balance sheet, I would like to learn a bit more about it. It looks to me like it takes deposits from central banks and then re-invests those is government securities, to create a profit.

The Beyen book discusses one such event before the war when Germany demanded it's gold, his take was if Britain/France didn't want the gold to go they had every right to block it, if that instruction came he claims that it would have been stopped. That order never arrived so the gold was shipped, this was why the BIS was supposed to be dismantled at the end of the war.

For whatever reason it never happened and it managed to find it's own niche. However the problem is that it writes little love notes to itself highlighting the floors in central bank policy, whose very central bankers head the bank. This isn't a contradiction I like.

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I'm with Ah-so on this.

More than anything, BIS is an central bank research body.

Like politicians, central bankers know what to do. They just do not know how to keep their job when they do it ....

Bis was good at reporting the disaster as it evolved.

But they operate in a multi-national political environment i.e. they could not say Greenspan is a senile old cnt, who's blowing bubble after bubble esp. when Greenspan was being lauded (by the politicians) as a genius, given knighthoods by that cretin Brown etc etc.

AFAIK all international bodies based in a country tend to have legal immunity from the local government.

They also tend to be tax free.

One it sorts out any problems with a tax treaty and the BIS employees nationality.

Two, it acts as a bit of a bonus as the employee will be working away from their home country.

My brother works for an internation body - not BIS.

He was diplomatic immunity to 'carry out his job'

Not sure how far he could stretch it - he pays for his parking (most US diplomats don't; Nordic ones do).

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exhibit A

when it was discovered years later that the Fed gave an eye watering $16 trillion (with a T) , under the table, to bail out too big to fail banks, did the BIS know about that , then why didn't they report it, and if they didn't know, why not ? That amount, for some perspective, was nearly 8 times the UK GDP. Where did that money come from, if not out of thin air ?

http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

PS Tyler Durden is more than one person. Maybe many.

Edited by evetsm

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exhibit A

when it was discovered years later that the Fed gave an eye watering $16 trillion (with a T) , under the table, to bail out too big to fail banks, did the BIS know about that , then why didn't they report it, and if they didn't know, why not ? That amount, for some perspective, was nearly 8 times the UK GDP. Where did that money come from, if not out of thin air ?

http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

PS Tyler Durden is more than one person. Maybe many.

If you know about it, it is hardly a secret, is it?

Also, many of the bail out figures are wildly exaggerated due to the overnight status of the loans - if I lend $1bn overnight a hundred times, it is not a $100bn loan. But this is a side point that we have gone over many times before.

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If you know about it, it is hardly a secret, is it?

Also, many of the bail out figures are wildly exaggerated due to the overnight status of the loans - if I lend $1bn overnight a hundred times, it is not a $100bn loan. But this is a side point that we have gone over many times before.

it took years for any outsider to find out. What's are they doing now and when will we find out ,if ever ? Doesn't inspire confidence. which they claim is entirely what they're about.

If you lend a billion x $1 , you've lent $1billion. No matter what you say.

There are known knowns. These are

things we know that we know. There

are known unknowns. That is to say,

there are things that we know we

don't know. But there are also

unknown unknowns. There are things

we don't know we don't know.-

Donald Rumsfeld

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it took years for any outsider to find out. What's are they doing now and when will we find out ,if ever ? Doesn't inspire confidence. which they claim is entirely what they're about.

If you lend a billion x $1 , you've lent $1billion. No matter what you say.

There are known knowns. These are

things we know that we know. There

are known unknowns. That is to say,

there are things that we know we

don't know. But there are also

unknown unknowns. There are things

we don't know we don't know.-

Donald Rumsfeld

There are known loans. These are things we know that we loan. There are loaned unknowns. That is to say, we know there are things we loan that we don't know. But there are also unknown loans. These are things we don't know that we loan. - Ben Bernanke

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Interestingly the International Monetary Fund (IMF) has similar members to the BIS. Probably quite a few other similar organisations. For sure and of course each organisation will have a diffferent "mission statement" along with a variety of different financial and political "levers" and "instruments" to use.


http://

en.wikipedia.org/wiki/International_Monetary_Fund

Edited by billybong

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