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The World's Biggest Central Bank Has Private Shareholders
As I've pointed out for years, the Bank for International Settlements (BIS) is owned by the world's central banks, which are in turn owned by the big banks. See this and this.
It turns out there may be a very interesting wrinkle to private ownership issue.
By way of background, BIS is often called the "central banks' central bank", as it coordinates transactions between central banks, and which is the entity determining the level of reserves banks are required to keep worldwide.
As Spiegel reported in 2009:
The BIS is a closed organization owned by the 55 central banks. The heads of these central banks travel to the Basel headquarters once every two months, and the General Meeting, the BIS's supreme executive body, takes place once a year.
But the New York Federal Reserve Bank currently states on its website:
As of March 2006, the BIS had 55 shareholding central banks from around the world. As of March 2006, the Bank’s assets were approximately $221 billion, including $5.8 billion of its own funds.
When the BIS initially raised capital, participating banks were given the option to buy BIS shares or arrange for those shares to be bought by the public. Currently, 86 percent of the shares of the BIS are registered in the names of central banks, and 14 percent are held by private shareholders. The shares owned by private shareholders consist of part of the French and Belgian issues and all of the shares that were in the original U.S. issue in 1930.
So the private banks own the Fed (and most other central banks), and the central banks - and private shareholders - in turn own BIS, the global bank regulator.
It would obviously be very interesting to find out who these private shareholders are.
And to find out if the shareholders enjoy any special benefits. As Spiegel notes:
Formally registered as a stock corporation, it is recognized as an international organization and, therefore, is not subject to any jurisdiction other than international law.
It does not need to pay tax, and its members and employees enjoy extensive immunity. No other institution regulates the BIS, despite the fact that it manages about 4 percent of the world's total currency reserves, or €217 trillion ($304 trillion), as well as 120 tons of gold...
Central bankers are not elected by the people but are appointed by their governments. Nevertheless, they wield power that exceeds that of many political leaders. Their decisions affect entire economies, and a single word from their lips is capable of moving financial markets. They set interest rates, thereby determining the cost of borrowing and the speed of global financial currents.
Could that mean that the private shareholders owning 14% of the world's central bank have somehow been "grandfathered in", and are immune from taxes and other national rules? Wouldn't it be interesting to find out?
The New York Fed claims that the private BIS shareholders don't have voting rights:
All shareholders receive the Bank’s dividends. However, private shareholders do not have voting rights or representation at the BIS annual meetings. Only a country's central bank or its nominee may exercise the rights of representation and voting.
This may or may not be true. It is common for powerful and wealthy people informally influence agency decisions. Just look at every captured financial regulator in the United States.
But whether or not the shareholders get special treatment or influence the decisions of the world's most powerful banking institution, it is still newsworthy that there are private parties with not insignificant ownership interests.
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Why get wrapped around the axle?
Is the BIS real or a creation of fiction / supporting fiat currency?
your answer determines your course of action.
You be the one to be real..
Really!
Mr. Steve
4% of world currency reserves = $304 trillion? Better check your facts on that one GW. I think you mean billion
Ban the BIS? Without the BIS we would not have a record of the unprecedented explosive growth of the OTC derivatives market, you know, the one that makes the Dow look like chump change being fought over. The problem is not the BIS, the problem is that what the BIS does, and the information they provide is not made public enough. If the sudden exponential growth in the size of the credit default swaps market, recorded by the BIS, starting in 2005 had been covered by the media, people would have understood that the financial community had begun to bet against CDO's, had begun betting that the U.S. housing market would crash.
I do not think this is correct. The private shares in the BIS were bought back. I was a small shareholder of the American issue and did well in the buyback. Other public CB's include the SNB, National Bank of Belgium and the Bank of Greece. I think each share of the BIS had about one kilo of gold behind it and the bank used the gold franc as the unit of account. Anyone could buy the shares. I did not even have to go through an Illuminati initiation or anything like that. This could be because I am in the John Dillinger Died for You Society. Zontar
The Corporation Film: Watch VideoAsk Timmy why he thought he did not need to pay taxes while working for the IMF.
The simple solution, which will happen in the end anyway, is to end the central banks and the excessive interest being paid to these financial fucknuts who add nothing of REAL VALUE to the economy. I don't know what the hell these idiots are talking about, war (or all flavors - i.e. trade, currency, resources, and outright bloodshed) has been perpetual since the creation of central and fractional reserve banking. Wake the fuck up already and go be a positive influence in your own communities.
George W the FED didn't update their website ...since 2003.
There are no more private shareholders since 2003
http://www.bis.org/about/swd031013.htm
I would like to find out the odds whether a country is going to war with the US is the stated intent of printing their own money. Then the political regime change, religion, human rights pretext begins building a case for war. Obviously, war for resources is another matter, with it being a bonus in these cases.
Great article GW :)
when a person transacts with another, or a company transacts with another, you do not need ANY central body to do so. The 2 entities records are record enough.
BIS seems a body without a neccessity, it's a centralised records office in effect and the shareholdings, both public and private, are disturbing (all unelected officers and un-touched by Joe Public). The usual establishment stink
we need a free market in money and that means competition, not centrallsed monopolies on money... Bin the BIS
Zero Govt, how did you get the idea of "starting with a ban on the BIS"?
It's like saying "decrease Government" by banning the United Nations Organisation! What's the point? The BIS is really nothing else than the UNO of the CB's. (by the way, neat trick, how did you "jump the line"? Special account?).
Your "2 entities records" concept leaks. Example: all "immoral" business like slavery, minor abuse, etc. etc.
See my long rant below about what "Joe Public" could start to do...
You´re wrong: they have had private shareholders, but they squeezed them out. We´ve had court cases here in switzerland on that. They don´t have private shareholders any longer.
But if you want to own a part of a central bank, buy the swiss central bank (SNB). The freefloat is 49 % http://invest.stocks.ch/aktien/Schweizerische_Nationalbank-Aktie
GW is wrong (and fear mongering), this issue was settled a decade ago with a buyout of ALL private shareholders. I know a couple of the tribunal members who issued the judgment.
http://www.bis.org/about/arb_trib.htm
I agree, this is another conspiracy theory that has nothing to do with reality. The BIS is led by and works for the 55 Central Banks. Period. It's a CB Tool.
Yes, it is set up in a similar way to the Swiss National Bank, which also has private shareholders.
And no, there is not much point for a private individual to by SNB stocks, it pays restricted dividends by law and the Swiss State Banks are the biggest shareholders by far.
Dammit, all this talk about the "evilness" of the Central Banks really gets me. They are only there to take out the garbage for the Governments and the Banks (particularly the TBTF banks).
As a private tax payer and citizen, take the Governments to task. The rest follows.
Governments, by allowing TBTF banks to do whatever they want, are the farmers protecting the foxes from the hens.
Here's the problem with your argument. Taking your example of central banks as garbage collectors, think of what might happen if the big banks, politicans and corporations didn't have a garbage collection system.
All that shit begins piling up at every citizen's door.
We are just now realizing that in any system, there is no such thing as "away."
By creating an entity outside of any cognizable jurisdiction, i.e., there is no such thing as international law, those that manipulate economies and nations for whatever purpose, created an effective "away" within the system.
Until all the shit accumulates and becomes to deep to walk though, the banks will continue using the garbage collector to make it invisible to daily life.
Of course the rot starts at the TBTF Banks. They influence Gov, which makes laws governing CBs, which steer the BIS, which hides some unsavory deals, particularly in the Gold Swaps.
In the analogy with the garbage collector, if it looks like they also illegally burn bodies, then perhaps you have to look why the Mayor and the City Council have bodies to hide.
What I don't get is why every international organisation has to be seen as "sinister" when the real bosses of the racket are somewhere else. It smacks me of redirection and obfuscation.
Thanks for the heads-up, Ghordius that this BIS, CB and private shareholder thing is just another conspiracy theory and not some real life 'Plan'. 'Cause I know there are some people hanging around on the internet (even here on ZH) who perceive some kind of evilness just floating or lurking behind, over, around and/or inside the typical CB'er. So, in the 'spirit' of cooperation with you let me just sat this to the other readers: 'Nothing real important going on here folks, just keep moving along. Nothing to see but a bunch of boring accounting work and other mundane chores. Oh, wait! Look over there. See, it's just ole, Ben headed over to Congress to take out their garbage. And see those plain white envelopes he's got sticking out of his suit coat? Those are just some of his random musings he wants to pass around to a few select members of Congress. Nothing to see here folks, just keep moving along."
Dammit, all this talk about the "evilness" of the Central Banks really gets me. As a private tax payer and citizen, take the Governments to task. The rest follows.
So you're suggesting an earnest march on Washington, maybe sign a petition or two?
As Alexander Haig said, 'let them march all they want, as long as they pay their taxes.
To paraphrase Clinton "Its all about about the banks, stupid".
You're one of them..
The BIS is supposed to be the apex of the entire machine. But we have yet to identify what families are behind the banking system. Some say 8, some say 12.. - Rockefellers, Duponts, Kennedys, Windsors, Rothschilds and so on. The sources are nebulous and usually not very reliable.
Warburg, Guggenheim, Oppenheim, Schiff, Kuhn, Loeb, Goldschmidt, Weinberg, Stern, Lazare, Mendlessohn, Sassoon, Hetne, etc.
As put forth by one Eustace Mullins. Finishing that book off right now.
Better than TCFJI. Still have to research the notes though.
Good call putting Warburg first!
pods
What you call the "apex of the entire machine" is very easy to identify.
Tier one: the richest 400 Americans
Tier two: the richest 600 Non-Americans
In between, the management of the TBTF Banks
Tier three: the citizens of the USA
Tier four: the citizens of the vassal states to the USA
At the bottom, billions of poor critters who have really nothing to say...
YOU belong to tier three and have a right to VOTE in the USA.
YOU consume more oil and resources than 2 Europeans, 35 chinese or 2500 Somalis.
YOU are empowered to change something by political action.
Start with asking for the same tax rate of 18% as Tier One.
End of Rant
"Start with asking for the same tax rate of 18% as Tier One."
Hells Bells, Ghordius why not start our demands at Zero? Surely you, as well as others around here, knows the Fed/Treasury simply 'prints' any amount of money they need in order to bailout bankers. Did they not 'handout' about 16 Trillion to a few select CB's around the world?
I propose a constitutional amendment to ban ALL taxes of any sort on all private US citizens and just let the Fed pay our tax bill from now on, or at least until Hades freezes over.
Ask Ron Paul. Congress has the power of do with the FED whatever it wants.
Do you think the effectively richest are displayed on the cover of FORBES magazine?
Do you think there are humans soo mighty, soo rich and soo powerful that they prefer to hide in the dark instead of enjoying their toys (yachts, palaces, etc.?) They are all visible, in plain sight.
Who is the one single man that has the greatest power of persuasion in the US? Who clearly infuses FOX News and all the others with his particular political view? That's one, for example.
Do you think there are entities soo mighty, soo rich and soo powerful they lurk in gloomy darkness?
Well, mayby we can meet here: there are interest at work that make sure there are US Tax laws of 22'000 pages which ensure that the top 400 pay 18% and the rest pays... how much is your tax rate?
I don't need hidden conspiracies when I'm focusing on the open ones, that's all...
Say after me: "I want to be taxed as heavily as ... let's say Bill Gates"! Nice, catchy, even a befuddled Tea Partisan could repeat it! (don't take it too seriously, no offense meant).
As an example, in the early 20th century, still in the era of Standard Oil, the Rockefellers were accountable for 2% of the US economy. Money makes money and there isn't a snow ball's chance in hell that that number has not increased since then. It is no conspiracy theory (I happen to find them quite decent people) and I just picked up on the Rockefellers in this particular case because this info can be easily verified.
A proper "Robber Baron". The stuff of legend. Part of the American Dream.
I wonder how the ol' Robber Barons would operate nowadays. I presume they would hate how many lawyers they would have to hire...
Federal Reserve Directors: A Study of Corporate and Banking Influence. Staff Report,Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.
ground breaking, thanks for putting this post together and making this information more accessible in such a format. not just about connecting the dots; gotta present them clearly and compellingly as well.
No shit. Ever heard of the 'Red Shield'?
Modern German:
-
rotes: "red"
schild: "sheild"
http://www.rothschild.com/
http://en.wikipedia.org/wiki/Rothschild_family
So how does Joe Plumber get some BIS action?
http://fc07.deviantart.net/fs13/f/2007/080/6/c/Nurse_Feodova_by_mjranum.jpg
http://www.facebook.com/profile.php?id=100001034348929#!/groups/BISawareness/?ap=1
slavery is for suckers....
FUCK YOU's ROTHSCHILDS.
so called non-profit Universities are also privately incorporated: see MIT corporation and Harvard corporation...these days they operated like a hedge fund. look at filings of tech startup acquisitions and you will see university funds everywhere
US government is also private: see lobbysts and financial funders of politicians. top 400 wealthiest own the political machine. This is true in 3rd world countries and US is not immune either.
yup...some managers even like gold...(kyle bass)
US government is also private...
Agreed. "We the People" of the US have been subjugated and reclassified as "citizens" and "taxpayers" through agreements made by (s)elected officials with this business enterprise.
By the way, this same BIS, (Mr. Bernanke's employer), has increased their holdings of 150 tons of Au to over 3X that. The latest reports show they've gone traditional and increased their collection to over 500 tons in the past year or so.
Nobody knows why though, because it's certainly not money.
One might think that THEIR intervention is giving cover for raising price.
They probably need it for the next shipment off planet. Odd that their buildings have a ziggurat motif, eh?
And as soon as "they" leave there will be no intelligence left on the Planet. Got to find a way to hitchhike my way in.
There's always the 'stowaway' option. Good luck my friend, us dummies around here will miss ya.
You'll miss me? Ok, Ok, I'll stay. Better to be a cranky dummy with other dummies than a zoological curiosity with aliens! ;-)