Archive for December 10th, 2014

by lizard

A few posts back Steve Kelley offered a link to this Global Research article about the Bank of International Settlements. A few posts before that I had mentioned the BIS when Turner asked this:

This may strike some as a naïve request for information, but I’m making it anyway.

I’d like those who claim there are puppeteers running our elections, our economy, everything else, to come up with a few names. I’m aware of billionaires and organizations like the Koch bros, ALEC, and Adelman — and a few on the left, too.

But is there a hard-to-identify cadre of puppeteers? Are they conspiring closely or are they a loose group? Or are they in competition for the job of chief puppeteer? Do they have agents manipulating both political parties? If so, down to what level — state, county, municipal?

Who are the manipulators in this state? Whom do they report to?

I’m not saying that the puppeteers don’t exist. I just want to know who these people are who’re working on the ground to make (in some people’s opinions) voting irrelevant.

Back to the Global Research article:

In Tragedy and Hope: A History of the World in Our Time (1966), Dr. Carroll Quigley revealed the key role played in global finance by the BIS behind the scenes. Dr. Quigley was Professor of History at Georgetown University, where he was President Bill Clinton’s mentor. He was also an insider, groomed by the powerful clique he called “the international bankers.” His credibility is heightened by the fact that he actually espoused their goals. He wrote:

“I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960′s, to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. . . . [I]n general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.”

Quigley wrote of this international banking network:

“[T]he 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 Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.”

The key to their success, said Quigley, was that the international bankers would control and manipulate the money system of a nation while letting it appear to be controlled by the government. The statement echoed one made in the eighteenth century by the patriarch of what would become the most powerful banking dynasty in the world. Mayer Amschel Bauer Rothschild famously said in 1791:

“Allow me to issue and control a nation’s currency, and I care not who makes its laws.”

Mayer’s five sons were sent to the major capitals of Europe – London, Paris, Vienna, Berlin and Naples – with the mission of establishing a banking system that would be outside government control. The economic and political systems of nations would be controlled not by citizens but by bankers, for the benefit of bankers. Eventually, a privately-owned “central bank” was established in nearly every country; and this central banking system has now gained control over the economies of the world. Central banks have the authority to print money in their respective countries, and it is from these banks that governments must borrow money to pay their debts and fund their operations. The result is a global economy in which not only industry but government itself runs on “credit” (or debt) created by a banking monopoly headed by a network of private central banks; and at the top of this network is the BIS, the “central bank of central banks” in Basel.

I’m bringing this up because a recent piece at Zerohedge caught my attention, titled Even The BIS Is Shocked At How Broken Markets Have Become. In that article banker-speak is quoted and commented on. I’ll excerpt this part:

But it’s best to leave it to the BIS itself, where this time Claudio Borio picks up the torch left by Jaime Caruana. What is notable is that none other than the BIS slams the infamous, and now legendary intervention by James “QE4” Bullard to assure the S&P’s levitation continues without a hitch!

To my mind, these events underline the fragility – dare I say growing fragility? – hidden beneath the markets’ buoyancy. Small pieces of news can generate outsize effects. This, in turn, can amplify mood swings. And it would be imprudent to ignore that markets did not fully stabilise by themselves. Once again, on the heels of the turbulence, major central banks made soothing statements, suggesting that they might delay normalisation in light of evolving macroeconomic conditions. Recent events, if anything, have highlighted once more the degree to which markets are relying on central banks: the markets’ buoyancy hinges on central banks’ every word and deed.

Wait, so the central banks’ central bank is openly chastising one of its own now and for what: for stabilizing the market and preserving the unstable euphoria that the BIS has been warning about for so long?

Does this mean that the BIS is now openly calling for a crash? Perhaps, what is clear is that even the BIS, or the “good cop” (if only for the middle-class, certainly bad cop for the 0.01%-ers) is now shocked by just how broken the markets have become as summarized in the following line:

The highly abnormal is becoming uncomfortably normal. Central banks and markets have been pushing benchmark sovereign yields to extraordinary lows – unimaginable just a few years back. Three-year government bond yields are well below zero in Germany, around zero in Japan and below 1 per cent in the United States. Moreover, estimates of term premia are pointing south again, with some evolving firmly in negative territory. And as all this is happening, global growth – in inflation-adjusted terms – is close to historical averages. There is something vaguely troubling when the unthinkable becomes routine.

So yes, thank you for confirming – years after most who still follow the farce that is the “market” with an open mind – just how absolutely broken it is thanks to central bankers.

Saying international bankers run the world may sound like an easy, conspiratorial scapegoat. It may also be true.

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