Bitcoin & Austrian Economics DEcentralizing the Bank for International Settlements (BIS)

Historical Prelude:

To assist in the task of transferring reparation-payments from the WW I-crushed Germany, a new privately owned and controlled bank — the Bank for International Settlements — was established in Switzerland at Basel: “Owned by the chief central banks of the world and holding accounts for each of them, the Bank for International Settlements was to serve as a ‘Central Banker´s’ and allow international payments to be made merely by shifting credits from one country´s account to another on the books of the bank”. After failing to restore the financial prewar system and gold standard as it had existed in 1914, “the powers of financial capitalism had another far-reaching aim, nothing less than 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. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world´s central banks which were themselves private corporations. Each central bank, in the hands of men like Montagu Norman of the Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbank, sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence politicians by subsequent economic rewards in the business world. In each country the power of the central bank rested largely on its control of credit and money supply. In the world as whole the power of the central bankers rested very largely on their control of loans and of gold flows. In the final days of the system, these central bankers were able to mobilize resources to assist each other through the B.I.S., where payments between central banks could be made by bookkeeping adjustments between the accounts which the central banks of the world kept there. The B.I.S. as a private institution was owned by the seven chief central banks and was operated by the heads of these, who together formed its governing board. Each of these kept a substantial deposit at the B.I.S., and periodically settled payments among themselves (and thus between the major countries of the world) by bookkeeping in order to avoid shipments of gold. They made agreements on all the major financial problems of the world, as well as on many of the economic and political problems, especially in reference to loans, payments, and the economic future of the chief areas of the globe…The B.I.S….was intended to be the world cartel of ever-growing national financial powers by assembling the nominal heads of these national financial centers”.

The chief commander of the global and ultimately centralized banking cartel was Montagu Norman, Governor of the Bank of England, who had been groomed by the private bankers to a position “where he was regarded as an oracle in all matters of government and business.”

The words by the chancellor of the Exchequer and later prime minister of England, Gladstone, express the agenda in a comprehensible language in 1852: “…the government itself was not to be a substantive power in matters of Finance, but was to leave the Money Power supreme and unquestioned”. The chairman of the Midland Bank, Reginald McKenna, told its stockholders in January, 1924: “I am afraid the ordinary citizen will not like to be told that the banks can, and do create money…And they who control the credit of the nation direct the policy of the Governments and hold in the hollow of their hands the destiny of the people”. Without going into a detailed discussion, let it be said for the sake of understanding the bigger picture of financial power, that the heads of the world´s chief central banks were and have been themselves the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down: “These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the rediscounting of commercial banks; they could dominate governments by their control over current governmental loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coups, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates.”

The Bank for International Settlements is privately owned, politically untouchable, and beyond the reach of any legal control and jurisdiction:

It is indeed intriguing how a sophisticated, powerful, and inconspicuously centralized structure
- the BIS with 60 central banks and monetary authorities as members — with its artificially created complex of (sub-) organizations and (sub-) committees (i.e.: BCBS, CGFS, CPSS, Central Bank Governance Group, Financial Stability Board, IADI, IAIS) can operate for nearly a century without ever being seriously mentioned or discussed in connection with the directly and indirectly, immediately and delayed — yet incalculably destructive- effects on monetary, financial, economical, governmental-fiscal, social, and even scientific-technological chain-reactions it causes. Whatever decisions the leading agents of the BIS (ECB, US-Fed & Co.) with tacit or explicit collusion make behind closed and legally immune doors on Swiss territory, the central banks implement and enforce exactly those decisions. During World War II, the BIS executed the financial transactions for Hitler´s Nazi-Germany. Later on, the BIS substantially promoted the concept of a unified Europe and the introduction of the Euro. The ultimate agenda: a global world-currency (see plans for the international reserve-”medium” based on globally established fiat-currencies- the artificial currency of “special drawing rights” in Kipp´s and Le Bor´s books).

A global world-currency can be easily manipulated, because the still existing inflationary and exponentially debt-based fiat-money-fractional reserve-banking system — controlled by the centralized and legally untouchable BIS through the owners of the central and private banks — intend not only to devalue the Euro and other fiat-currencies, but they are focused on creating a systematic global crash of the world´s financial and economic systems. The total crash enables the BIS to create an order out of chaos: with the instruments of financial repression, the people could face fundamental “currency-reforms”, “bail-in” of banks (=confiscation of bank-account-money), compulsory levies etc., possibly at gunpoint.

Is the solution to total DEcentralization Bitcoin and Austrian Economics?

There is no other choice. There is no need to waste any time, energy, or emotions on fighting, discussions, protests, and any other (usually artificially instigated and behind the scenes financed) demonstrations, “occupy-movements”, “spring-uprisings”, or “revolutions”.

There is no need and no time for revolutions. It is truly time for evolution.

Knowledge, comprehension, user-friendly applications, mass-education, and mass-adoption is key to total DEcentralized, censorship-resistant, open, borderless, network-consensus-distributed, trustless, and ethical hardest money — with absolute scarcity and a difficulty adjustment, set in stone by “Satoshi Nakomoto”.

The politically and legally untouchable owners, controllers, and self-appointed money-printers behind the curtains of the central banks — culminating in the Bank for International Settlements — have already lost this game, but they still do not see the unchained humanity coming.

Literature, Sources of Knowledge & Investigative Research:

Publicly and officially provided information and data: https://www.bis.org

Read in-depth details: Carroll Quigley, Tragedy and Hope. A History Of The World In Our Time (1966: Unabridged Edition), p. 310.

Carroll Quigley, Tragedy and Hope. A History Of The World In Our Time (1966: Unabridged Edition), pp. 324–325.

Carroll Quigley, Tragedy and Hope. A History Of The World In Our Time (1966: Unabridged Edition), p. 325.

Carroll Quigley, Tragedy and Hope. A History Of The World In Our Time (1966: Unabridged Edition), p. 325.

Carroll Quigley, Tragedy and Hope. A History Of The World In Our Time (1966: Unabridged Edition), p. 327.

BIS member central banks: https://www.bis.org/about/member_cb.htm?m=1%7C2%7C601.

For deeper understanding, see the investigative research by: Janne Jörg Kipp, BIZ — Der Turmbau zu Basel, Geheimpläne für eine globale Weltwährung (2014), p. 38; Adam Le Bor, Tower of Basel — The Shadowy History of The Secret Bank That Runs The World (2014).

Janne Jörg Kipp, BIZ — Der Turmbau zu Basel, Geheimpläne für eine globale Weltwährung (2014), pp. 180–191; Adam Le Bor, Tower of Basel — The Shadowy History of The Secret Bank That Runs The World (2014).

See the official data for the global debt in the amount of one quarter of a $ quadrillion https://www.iif.com/publication/global-debt-monitor/global-debt-monitor-july-2018; https://www.zerohedge.com/news/2018-07-10/global-debt-hits-record-247-trillion-iif-issues-warning (retrieved on Sept. 13th, .2018).