Wednesday, December 15, 2010
Bank of International Settlements
by Richard E. Noble
BIS - Bank of International Settlements - Founded in May of 1930, as a part of the Young Plan. Owen D. Young was a J. P. Morgan banker and Political adviser who devised a plan which supposedly would enable the allies to collect reparation payments from defeated Germany after World War I. The BIS would be an international bank that would be immune from the perils of seizure, confiscation and the general perils of War. It seems that the Banking community was having problems conducting business as usual while their chief depositors were conducting international havoc on the battlefields of Europe. They wanted a bank that could function independent of War that could conduct transactions with both sides or all sides before, during and after War. It was founded on the principle that money is thicker than nationalism.
The history of this bank is enough to unsettle the most patriotic heart. Whatever its initial purpose it turned out to be the financial tool for the American and British pre-war financing of Adolf Hitler and German Nazism, and the in-war money laundering apparatus for the Nazis government. Money was shuffled through this bank from primarily British and American sources to rebuild Germany and its industrial might after World War I.
On its board of directors were such people as Walter Funk (convicted war criminal), Emil Puhl (convicted war criminal) and both Hitler appointees, Paul Hechler (German Nazi party member), Kurt von Schroder officer and financier of the Gestapo and head of J.H.Stein Bank of Cologne, Herman Schmitz (head of I.G.Farben), Hjalmar Horace Greeley Schacht, Hitler’s banking and financial wizard, tried at Nuremberg but released.
The BIS was associated in the U.S. with the First National Bank of New York, a J. P. Morgan organization with directors Harold S. Vanderbilt and Wendell Willkie. Its second president a Leon Fraser, was a hustler and a performer in drag stage comedies, and had no experience whatsoever in banking.
In 1938 The Governor of the Bank of England, Montagu Normand, a well known Nazi sympathizer, shipped 48 million in Gold sent to the bank of England by the invaded Czech government, back to the BIS who immediately sent it to Berlin and to Adolf Hitler.
During the War the BIS president was a Harvard graduate by the name of Thomas McKittrick. He was a personal friend of Emil Puhl and “Despite the fact that the evidence of the Puhl-Mckittrick conspiracy was overwhelming, McKittrick was given an important post by the Rockefeffers and Winthrop Aldrich; Vice president of the Chase National Bank . ..“ (Trading with the Enemy-Charles Higham).
The BIS under McKlttrick and others is accused of trading with the enemy during a time of war. This is treason as defined by our own constitution but no one in the BIS has ever been brought to justice or even brought up on charges. The BIS is still in operation today. Henry Morganthau, F.D.R.’s secretary of the treasury, had this bank and numerous other American businesses under investigation after the War, but McCarthyism and its subsequent hype got these super wealthy American Nazi traders off the hook. It’s time for someone to go through these files of Morganthau that are at the Franklin Roosevelt Memorial Library at Hyde Park, and bring these people to public disgrace.