Survey of World Central Banks. Part 2

2024 Author: Seth Attwood | [email protected]. Last modified: 2023-12-16 15:55

Survey of World Central Banks. Part 1: ECB

NATIONAL BANK OF SWITZERLAND: “KARL AT CLARA. AND VICE VERSA"

As we noted in the previous part, in 1800, by decree Napoleon it was the "Swiss gnomes" who actually founded such a Masonic enterprise as the Bank of France. The Swiss National Bank itself was created a century later, in 1907, and, according to federal law, it became a "joint stock company with a special status." The bank received two headquarters - in Bern and in Zurich - as well as 14 more "lower tier" banks - in each of the cantons (which is very similar to the structure of the US Federal Reserve created later).

The authorized capital of the National Bank amounted to SF25 million. It is divided into 100,000 registered shares with a par value of SF250. Shareholder registration is limited to a maximum of 100 shares. This limitation does not apply to Swiss public corporations or cantonal banks. Therefore, 55% of the authorized capital belongs to local government structures (cantons, cantonal banks, etc.). The rest of the shares are mainly held by individuals. The federal government owns no shares.

The bank's governing bodies are the Banking Council and the Management Board. The Banking Council supervises and controls the activities of the National Bank. The term of office of the members of the Council is 4 years; they can hold their office for no more than 12 years. The Banking Council consists of 11 members, 6 of whom, including the President and Vice-President, are appointed by the Federal Council (Swiss Federal Government), 5 persons are appointed by the shareholders' meeting. However, the Swiss central bank is also formally "independent". According to Article 31 of the Law on the National Bank, shareholders are guaranteed to receive income up to 6% of the net profit of the National Bank. Anything above this amount is divided in the following proportion: ⅓ to the federal government and ⅔ to the cantons.

The Board consists of three members appointed by the Federal Council, each of whom directs one of three departments: (1) of 7 departments for: economic affairs, international monetary cooperation, legal and property issues, secretariat, internal audit, legal compliance, stabilization fund; (2) from 3 departments: finance and risks, financial stability, monetary regulation; (3) from 3 departments for: financial markets, banking operations, information technology.

But they also managed to rob this rather serious organization. The condition for Switzerland's accession to the IMF in 1992 was the refusal of the Bank from 40% of the gold covering of the Swiss franc. At the same time, it was stated that gold is a "dead metal" and is no longer needed as a reserve. To speed up the sale of gold, in 1997 the Bank was forced to organize "" - where they began to transfer amounts from all inactive accounts from Swiss banks.

To this end, in the period from 1996 to 2000, Jewish organizations in the United States carried out a judicial attack against the Swiss National Bank and the leading commercial banks of the Alpine republic, putting forward tens of thousands (!) Of the same type of lawsuits with accusations of a whole bunch of crimes: from hiding bank accounts belonging to Jews, those killed "from the Holocaust", to the assistance of Nazi Germany to shelter material values confiscated from the same victims of the "Holocaust".

The result of the litigation was the conclusion in August 1998 of a global settlement agreement, according to which UBS and Credit Suissee pledged to pay $ 1.25 billion in four installments in exchange for the fact that 18 thousand "victims of the Holocaust" would withdraw all their claims in the amount of $ 20 billion, put forward both against private Swiss banks and against the Swiss National Bank.

Further, under the leadership of the former head of the US Federal Reserve Paul Volcker a commission was created, which looked through 4, 1 million (!) bank accounts, recognizing 54 thousand accounts "". Then she added 21 thousand accounts "" (sic!).

Meanwhile, the National Bank was demanded to start selling the gold reserves. For this, in 2000, they even had to change the Constitution (!). As a result, half of the country's gold reserves (1300 tons) were sold by 2005 at a rate of almost 1 ton / day (!). Despite the massive sell-off of physical gold, paper gold was held back and world prices rallied to their all-time high of $ 1,895 an ounce, which was reached in September 2011. The Bank's gold reserves continued to sell until 2008, dropping to 1,040 tons. But the Bank still managed to stop the sale - by starting to challenge the changes to the Constitution, since they were made without “broad political discussion”. And the law on the sale of gold was canceled (!).

Today, the balances of gold and foreign exchange reserves are stored in various safe places: in Switzerland, 70% of the reserve (in storage at a depth of several tens of meters under Federal Square north of the Federal Parliament in Bern), in the Bank of England (20%) and in the Bank of Canada (10%) …

After fixing the huge losses of the UBS banking group, received due to the crisis in the United States, the Swiss National Bank was forced to take out a loan from the same US Federal Reserve, for which it still pays interest.

However, due to the devaluation of the euro, and a huge capital inflow to Switzerland, the Bank dropped the franc rate below 1.2 euros and made deposits paid.

EXPERIENCES ON THE OCCUPIED BANK OF JAPAN

In 1873, a law on the creation of banks was passed in Japan, which copied the American law of 1863. Banks could issue money under government bonds. At the end of the 1870s, there were already 151 private banks in the country, keen on making money out of thin air [1]. Therefore, in 1882, the Bank of Japan was established, which was supposed to issue banknotes with 100% silver coverage. In 1897, Japan switched to the gold standard, which lasted until December 1931.

In 1942, the Bank of Japan became controlled by the Ministry of Finance, which received the right to change the bank's by-laws. In 1949, the so-called. The Monetary Board is subordinate to the American occupation administration. Since 1998, the Bank of Japan has become "independent" from the Ministry of Finance [2].

The bank is a joint stock company: 55% of the capital belongs to the government, 45% to individuals and companies, including foreign ones, but they are not officially involved in management. But shareholders are guaranteed a dividend of 4%, which can be increased to 5%. The main profit is charged to the state budget. The bank's shares are listed on JASDAQ.

Despite the fact that today Japan's debt has exceeded 226% of GDP or an astronomical $ 13.5 trillion, the situation is fundamentally different from debt problems in other countries, since most of the public debt is in the hands of domestic investors, who are used to refinancing their government at almost zero rates. Japan mainly occupies the domestic market and for many years (up to 2011) had a positive trade balance. In addition, Japanese investors are "financial nationalists" who are not guided by the ratings of Moody's, S&P or Fitch, but use the ratings of the Japan Credit Rating Agency, according to which Japan's sovereign rating is at the AAA level.

The share of liabilities in foreign currency in Japan is not so large. With an external aggregate debt of $ 3 trillion, the Central Bank of Japan has almost $ 1.2 trillion in US "securities".

But there is still external manipulation of the financial system. Until now, occupied Japan has become a testing ground for global financial technologies. When Japan became the world's leading producer in the late 1980s, the US was forced to raise the “undervalued” yen and cut interest rates to 2.5%.

"Cheap Money" instantly found its way to quick profits on the stock market and inflated a colossal financial bubble. On the Nikkei, stock prices rose at least 40% annually, and property prices in Tokyo and its suburbs inflated 90% or more (looks like nothing?). The "gold rush" swept through the whole of Japan. Within a few months, the yen rose in price from 250 to 149 per dollar (then the United States was forced to raise the value of the Japanese currency to 100 ¥ / $ - i.e. 2.5 times - and fix this high value in the range of 100-110 ¥ / $). The stock market bubble continued to swell violently, by 1988 all 10 of the largest banks in the world were Japanese, and Tokyo real estate was valued higher than all US real estate (!). The par value of shares traded on the Nikkei was over 42% of the value of all shares traded in the world.

The euphoria "" did not last long. In late 1989, as soon as Tokyo began to take measures to cool speculative transactions, the main investment banks on Wall Street killed the Tokyo Stock Exchange. In a few months, the Nikkei lost almost $ 5 trillion. Japan has so far failed to cope with deflation, but it was planned to test a new technology - in the form of the introduction of electronic money with demurrage … [3]. However, as a result (for a number of signs of a man-made) accident at Fukushima, the experiment with unusually effective Gesell money with demurrage will most likely be postponed in Japan … To be carried out in the USA (!) [4].

However, this is far from the first, and not the most difficult case of external manipulation by the “main bank of the country”.

BANK OF TURKEY: AN EDUCATIONAL STORY OF FINANCIAL COLONIZATION

The history of the Turkish central bank is a graphic reflection of the sad history of financial colonization. Moneylenders have existed on this territory since ancient times. But the first Turkish bank, in the "modern sense of the word" - called "Bank Desraadet" - was created only in 1847 by Jewish bankers from Galata (Constantinople). Apparently, this was a test step on the part of the "fifth column" of the global financial kagal, since in 1856 the functions of the "main bank of Turkey" were intercepted by French and British structures of the "bankers of the group Rothschild ”, Who created an institution that received the rights of the central bank of Turkey. At the same time, the headquarters of the Ottoman Bank was located … in London (sic!).

In 1863, a "reform" took place: the "Anglo-French partnership" was renamed, giving an even more magnificent name - "Imperial Ottoman Bank". It was slyly called "state" (!) And transferred the rights of monopoly issue of banknotes and tax collection right up to 1935 (!) ().

National shame with the Anglo-French quasi-Jews at the head of the "state" bank of Turkey and headquarters in London lasted until the beginning of the First World War, where Turkey and England were on opposite sides of the front. Nevertheless, even during the war, the structures of the private bank "" continued to perform the functions of the Central Bank (sic!). And although the printing of Turkish banknotes in England was officially stopped, it is not difficult to imagine how easy it was to continue it by arranging financial sabotage and bribery of officials …

The central bank with 100% Turkish capital called "" (Osmanlı İtibar milli Bankası) was created only in March 1917, when the defeat was already close. The imminent defeat of the Ottoman Empire in the war prevented the bank from becoming a true central bank. However, what else could have been expected if Turkey lost the financial ("cognitive") war even before the start of the First World War - by adopting someone else's system of "humanitarian knowledge"?

It is no coincidence that the same ones continued to draw financial juice from Turkey for another decade and a half (!) After the end of the First World War. However, the Turks themselves swayed for too long. Only in 1923 was an economic congress held in Izmir on the theme of the establishment of a "national state bank". It took another 4 years to pass the law establishing a national central bank. After the adoption of the first version of the law in 1927, Turkey "".

In 1928, the head of the Dutch Central Bank (the progenitor of the Bank of England - see the first part of the article) Dr. G. Vissering gave a lecture to the Turks about "" and offered a program of "training specialists".

In 1929, Turkey was advised by another agent of the global financial kagala, sponsor of the Young Turks movement (consisting mainly of Solonik and Constantinople Young Jews - accomplices of the "father of the Russian revolution" Parvus-Gelfand) - Italian quasi-Jew who received the rank of "Count" Volpi di Misurata … He started with the tobacco trade in Montenegro, then created his own company "Eastern Commercial Society" (Societa Commerciale d'Oriente), which since 1912 was engaged in export-import trade with Turkey. Misurata became a mediator in the conclusion of a peace treaty with Turkey. This gave him political weight, and in 1925 - the place of finance minister of fascist Italy. With all this, he became an agent of influence for the Governor of the Bank of England Norman Montagu and his accomplice - the head of the Federal Reserve Bank of New York Benjamin Strong[5].

The sequence of these events is quite natural. Close ties between Italy and Turkey have been going on since the times when the Genoese and Venetians, called in Russian chronicles respectively "Jews and Fryaz", traded in Byzantium, and then, during the Fourth Crusade, captured Galata - the customs region of Constantinople, then surrendered the city to the Ottomans, further starting to create ghettos in the trading cities of the Ottoman Empire [6].

Ambassador of England to Istanbul G. Lowther May 29, 1910 wrote to the then British Foreign Secretary Harting on the influence of European Freemasonry on the Young Turkish movement: “…

…»[7].

By the way, the "Count Misuratu" himself, born in Venice, where the largest Jewish ghetto in Europe was located, was called "" during his lifetime. It was he who was the founder of the Venice Film Festival.

After meetings with such "influential experts", the Turkish government again "". The new draft law on the Central Bank of Turkey was prepared by prof. Leon Morph from the Graduate School of Commerce, University of Lausanne, Switzerland ().

The Turkish Central Bank Law was passed by the National Assembly on June 11, 1930. The bank was founded in October 1931 as a joint stock company.

The structure of its ownership in Switzerland came up with a rather amusing one, dividing the shares into 4 categories depending on the "class":

"A":

"B":

"C":

"D": [8]

Turkey began to print its own banknotes only in 1957.

By the time of the collapse of the Bretton Woods system, and the global trend towards the "nationalization of central banks", in early 1970, the Law on the Central Bank of the Republic of Turkey was amended (No. 1211). As a result of the additional issue, the state was allowed to own at least 51% of the shares.

The supreme governing body is the Bank's Council: 7 people, headed by the President of the Council, are elected by the general meeting of shareholders for 3 years with the right to be re-elected.

Monetary Policy Committee (3 persons): President, Vice President, and one member appointed by the Council of the Bank.

Supervisory Board (4 people): one representative from each type of shares is elected by the shareholders.

“Presidium” (5 people): President and 4 Vice-Presidents. They are appointed by the prime minister for a period of 5 years, the vice-presidents are appointed on the recommendation of the previous composition of the “presidium”.

Management Committee: consists of the President and one Vice President.

In general, this is a very complex bureaucratic structure, which fully reflects both the history of the Bank's creation and the “eastern style of doing business”.

RESERVE BANK OF SOUTH AFRICA: "BURDEN OF THE BLACK MAN"

In 2010 the secretary general of the ANC Guide Mantashi, hinted that the government should consider nationalizing the Reserve Bank of South Africa (SARB), as "it is one of the five private central banks in the world" [9].

But the SARB structure has its own protection, which explains the Bank's website: "" (the Bank of Austria was still private at that time). At the same time, the SARB uses a fairly standard scheme, according to which 7 out of 14 members of the Council are appointed by the President of South Africa and another 7 are appointed by shareholders. The Bank's Governor, with a casting vote, is appointed by the President of South Africa. Shareholders cannot dismiss the Manager or other members of the Board.

In addition, section 224 of the South African Constitution enshrines the "independence" of SARB, which is "".

Thus, the SARB position is covered by the Constitution, and the government is prohibited from monitoring the central bank or any of its decisions. Those. the shareholders put up barriers to the blacks on the way of privatization so that they would not start "".

Suppose the negroes in South Africa would have done it. In any case, the colonialists - the creators of South Africa - may well think so. First of all, the developer of the richest diamond mines - the "founder of the Round Table" Cecil Rhodes … During his selfless "", he fully replenished the piggy bank of his employers - Jewish usurers represented by the same Oppenheimers and Rothschild … So it is not difficult to understand who the shareholders of the Reserve Bank of South Africa are.

The only question is why the same scheme is used for Russia? [3].

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