The Bank for international settlement (BIS) was originally set up to facilitate payments of Germany from The Treaty of Versailles. A charter for the bank was drafted at the International Bankers Conference at Baden-Baden in November 1930. In accordance with the charter, shares in the bank could be held by individuals and non-governmental entities. The BIS was constituted as having corporate existence in Switzerland on the basis of an agreement with Switzerland acting as headquarters state for the bank. It also enjoyed certain immunities in the contracting states (Brussels Protocol 1936).
Every two months the bank meets to discuss international policy, however, none of the meetings are covered by the mainstream media.
The BIS controls all Reserve banks internationally. The BIS is owned by The Federal Reserve, The Bank of England, Bank of Italy, Bank of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank Bank (German Federal Bank) and Bank of France. It is a secretive institution that is accountable to no-one. It is located in Basel Switzerland. It’s owned by the same controlling families that control other international banks.
In the 1930’s the bank became a secret meeting place for all the federal reserve banks of Europe. It invested $100 million in Germany. During the Second World War Germany kept paying the interest on the loans, the money, in turn, went to pay the shareholders of the BIS, the shareholders included the Bank of England, so there was a clear conflict of interest going on there. None of the banks made moral judgments over Germany, it just did business to them. In that manner, they were similar to American companies like Ford, IBM and Standard Oil who just did business with the Nazis.
Roosevelt’s Secretary of the Treasury, Henry Morgenthau, documented how the US Federal Reserve and other international banks help build the Nazis. In 1933 Hitler came to power. Hjalmar Schacht was re-appointment as Reichsbank president and as the Germany’s representative to the BIS. It was Schacht job to refinance the Third Reich. By then Germany had stopped paying reparations for WWI.
In the 1940’s Hitler took control of the Bank, despite Switzerland being a neutral country. The BIS handled money for Hitler and stored all the gold the Nazis had plundered. It was the Nazi’s window into the world. At the time organisations like the Bank of England saw Hitler as a strong leader and worth investing in. During the WWII the president of the BIS was an American Thomas H. McKittrick.
After 1945, five BIS directors, including Hjalmar Schacht, who was acquitted, were charged with war crimes. Another was Verlag Hermann Schmidt who was the boss of IG Farben he was convicted and served a couple of years in prison. Walther Funk was also convicted.
After WWII there was pressure from the US to shut the BIS down, however, the bank was seen as an instrument to set up the new economy under BIS guidance. In April 1945, the new U.S. president Harry S. Truman and the British government suspended the dissolution, and the decision to liquidate the BIS was officially reversed in 1948.
Carroll Quigley wrote in his book Tragedy and hope “to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole…to controlled in a feudalistic fashion by the central banks of the world acting in concert by secret agreements”
The BIS in ant-territorial, it’s like the United Nations, its assets can never be seized. The Swiss authorities have to ask for permission to enter it, although it is on Swiss soil. It’s the only international bank in the world foundered by an international treaty, The Treaty of Versailles. The bank predates the IMF and the World Bank. Was set up in Switzerland because of their traditions of Banking, Secrecy, and neutrality. The BIS is a bank for central banks.
The BIS was essential in setting up the Euro currency. It was decades in the planning. At the BIS in 1994, the European monitory institute was set up which later became European Central Bank. Russia and China joined the bank in 1996.
The BIS today is a place where Central Banker meet to tell each other what they are doing.