Monthly Archives: November 2015

BIS . . . A Legally Unaccountable Bank!

I believe this is my most important contribution, so far, to our growing awareness of how the world works. I am deeply indebted to Adam Lebor for his book ‘A Tower of Basel’ and its huge contribution to this awareness. More details here:


Like me, you may have seen the odd reference to the Bank of International Settlements and had no idea what it was, nor what it did . . . and that suits the BIS just fine!

As the central pillar of our global financial system, it is responsible for furthering the interests of central banks by building and maintaining the architecture of transnational finance.

It came into existence in 1929 as the brainchild of Montague Norman, then governor of the Bank of England and one of the most powerful men in the world, together with Hjalmar Schacht president of the German Reichsbank. Its express purpose was to administer German war reparations (financial compensation) to the allied countries involved.

Both Norman and Schacht were very shrewd financiers, with ambitions way beyond a simple administration office. They immediately set about creating a global bankers ‘club’, bringing together the heads of the main central banks with monthly meetings, which continue to this day in absolute secrecy in their offices in an 18 storey tower building near Basel railway station in Switzerland.

Today its members include Ben Bernanke, former head of the Federal Reserve, Mark Carney, Governor of the Bank of England, Mario Draghi of the European Central Bank and the central bank governors of Germany, France, Italy, Sweden, Canada, India and Brazil. The object is to share information and build consensus on the direction of our global financial system.

Returning to its roots, in 1930 the governments of UK, France, Germany, Belgium, Italy, Japan and Switzerland signed the Hague Convention making the BIS untouchable, as the most privileged and legally protected bank on the Planet.

(The “You can no longer touch us”) Article 10 of the BIS Constituent Charter states:

The Bank, its property and assets and all deposits and other funds entrusted to it shall be immune in time of peace and in time of war from any measure such as expropriation, requisition, seizure, confiscation, prohibition or restriction of gold or currency export or import and any other similar measure.

With it becoming ever certain that a second world war was imminent, Schacht and Norman believed financial – not political – disciplines were the only way to ensure the world could be rebuilt from the carnage and return Germany to its strong trading position in Europe.

To achieve their aim it was necessary to maintain the smooth flow of global finance during the war years and provide a haven for gold transactions without political interference. Whilst these objectives appeared laudable, they also carried sinister connotations the BIS have since found difficult to shake off.

Schacht was a financial genius and as Germany prepared for war, Hitler made him General Plenipotentiary for the war economy, placing an emphasis upon delivering the finance necessary to build a vast German war machine. He achieved this with the help of his connections in the BIS. It can be seen from this that financial values dominated, over political considerations, as ‘enemies’ were working together to finance the war.

Before outright hostilities, Austria was ‘incorporated’ into the German Reich and its gold moved to the BIS where it was held for use in Berlin. This was the first of many transactions that involved Nazi looting and plunder during the war. The BIS justified its part by reminding everyone that it was above political intrigue and that the proper financial paperwork had been carried out for these transactions to take place.

In Spain, General Franco was helped to power not only by German and Italian fighting men and machines but also by the hundreds of millions of dollars’ worth of aid also provided by these countries. The latter managed and facilitated by the BIS.

At the height of the Second World War, when armies were killing each other by the tens of thousands, international finance continued unimpeded through the BIS, financing the slaughter on both sides.

When Czechoslovakia was overrun, the entire gold supply of the country was taken over and deposited with the BIS, sacrificed to the needs of transnational finance and the Third Reich. This ‘legalised looting’ was a particularly dark time in the BIS history, exacerbated by also taking in deposits of gold teeth that had come from the concentration camps, all of which were used to finance the German war effort.

It was Cicero, two thousand years ago who observed that “The sinews of war are infinite money”. The BIS updated that wisdom through their actions during the war years to read “The sinews of war are the transnational flow of infinite money!”

When the war finally came to an end attention turned to rebuilding Europe. This saw the introduction of the equally independent International Monetary Fund and World Bank, threatening the very existence of the BIS. However the US demanded, that in return for aid, they wanted the integration of Europe and the erosion of national identity, in the interests of reducing friction between countries. This offered the BIS new opportunities.

Rather than compete with the IMF and offer loans to troubled economies, nor fund development projects as did the World Bank, it would offer discreet services for financial co-ordination, something in huge demand at that time. Europe would need harmonised exchange rates, swift international payments mechanisms and eventually a new single currency, the very core of BIS capabilities.

With the BIS working in the background, in 1951 France, West Germany, Italy and the Benelux states signed the Treaty of Paris establishing the European Coal and Steel Community. This created a ‘common market’ for coal and steel which was regulated by this unelected supranational institution.

It is here that the birthing of the EU truly began, setting a pattern of ‘economically expedient’ excuses for the removal of national sovereignty, rather than the political machinations that it actually represented. And so the rule of technocrats also began and has continued to expand into the present day.

(I have always believed that the unrelenting attacks upon our Royal Family, by Murdoch’s media, had sinister undertones. The strategies adopted for the integration of Europe all those years ago now bear this out.)

This thumb nail sketch of the history of the BIS raises many issues in today’s world. Whilst it is plausible to say that financial disciplines, over political, can provide the smooth running of finance, supporting international trade and growth that benefits us all, our actual experience of the work of this unelected and highly secret organisation has not been as promised.

At the heart of our problems is the human fallibility for power. Only this year the IMF and ECB demonstrated their powerful independence from political authority in the unnecessary bullyboy tactics they chose to adopt when Greece stood up to their ‘Austerity’ measures. Their unbridled power meant that they paid no heed for the distress their deliberate actions caused to the Greek people and the suicides that continue to this day.

‘Austerity’ is a lie and excuse to further reduce national sovereignty by plundering the national assets of countries. The TPP trade agreement also, is not about trade but the subjugation of democracy to corporate power and hence the paranoid secrecy until its launch on an unsuspecting public.

That our money is now being stolen from us, either as taxpayers or as bank customers, to pay for malpractice by those very banks; that cash is now under threat, to provide greater control over the monetary system and that we are being moved into a nightmare world of negative interest rates, is the outcome of the BIS’s development of the EU and its rule by technocrats.

Morality is nowhere to be found in this new world and will eventually bring it down. That the credibility of the EU and its dubious currency is coming under increasing pressure, as the people see their sovereignty taken away and democracy constantly undermined, is demonstrating that the financiers post war dream of a European federal state is unworkable.

The BIS itself is now coming under threat, as its strict conditions of secrecy, which have always been its true power, become outmoded in an increasingly transparent world. People are waking up and veils are being lifted.

The greater our awareness the greater the demand for change and the ending of this traditional abuse of the majority. Just imagine the re-balancing of current power if global trade unions and charities created such an organisation!

Until the next time


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Global Leadership . . . Hmmmm!

As I watched the gathering of global leaders in Malta, standing for the obligatory photo op, I thought for a second I saw strings hanging down to their arms and legs. I looked again and they were gone, or had they been ‘photo shopped’ out . . . You decide!

As the financialisation of our Planet continues these corporate puppets gather to try and resolve yet another massive problem they have been instrumental in making. How can Europe possibly offer meaningful support to all these desperate immigrants when we are engulfed in chronic debt, falling production and vast youth unemployment?

It was Albert Einstein who observed that “The thinking that created the problem is quite incapable of solving it”, and how prophetic these words have become. We have horrendously serious problems to confront and deal with as a species, if we are to continue to live on this beautiful Planet, all of which have been caused by the policies of our leaders corporate masters.

If we look at the employment problems our young have to face, they can only escalate as we move into the future, creating a breeding ground for rebellion and anarchy. The significance of this, to my mind, is that every single one of us has to feel some sense of purpose in living this Life and work often provides the solution to that dilemma.

Youngsters today do not have this benefit, because robots and employers are reducing traditional workforces dramatically. They are getting away with it through contrived ‘austerity’ programmes which now rapidly losing credibility.

How will Society shape itself if there is little employment for people and that which is available is meaningless and insecure? How will homes be provided and family’s reared and how will we feed ourselves? Governments can’t help because their tax income will also drastically reduce.

And then we come to the broader picture. Climate change and global warming are a reality, in spite of the billions spent by the corporate sector on propaganda that argues against our interests and for theirs. With the benefit of modern communications we can actually see the ice caps melting as we look at them!

On the food front we know that water shortages are now occurring and can only get worse. The corporate solution to this Life threatening scenario is, with the help of ‘austerity’, to buy up as many national utilities as they can. Not for our benefit but as a source of guaranteed future profits. The fact that they are not employing people whose wages could then pay for this precious commodity and inevitably will die of thirst, is not a subject on anyone’s agenda.

Again with our environment, we are the only species to poison its own food by constantly dumping toxic waste into the oceans. To my mind it is the most childlike act of mindlessness, of all the present atrocities, because there is a mind-set that reasons the oceans are so vast they will absorb whatever we dump in them.

Evidence is now coming thick and fast of the nuclear pollution in our seas. Once again there is a puerile attitude by the culprits that ignores the natural state of the oceans and the fact that it is our largest source of food. Oceans have currents and these currents take what is dumped in the East, South, North, and West and move it around the world like a giant blender. (And TPP will deregulate food hygiene standards . . . Dear God!)

The curse of Society is political and corporate short terminism. Strategies are put in place that will see out the current political term and share prices are manipulated for the current accounting period. It is everywhere, from our news headlines to the collapsing state of our debt riddled financial systems and the shortages of jobs and food. Stock Markets scream for higher profits and share prices, pushing companies into dubious short term practices to maintain both. The latest being the VW emissions scandal.

We now have a lunatic environment where cheap money, printed out of thin air, is being taken on as debt, by big corporations, to buy up competitors in an effort to convince shareholders that ‘big’ is valuable. The present reality is that corporate sales are in constant decline and so share prices are being inflated by stardust, reaping terrible repercussions when the debt mountain cannot be repaid, which won’t be too long now.

The global financial system is run by unelected officials who are not accountable to governments, only their own board, as to how our money is produced and controlled. Debt, negative interest rates and the gradual disappearance of cash are now firmly on the agenda as they take us into uncharted waters!

And the masters and puppets currently keep it all in place with this financial control and a global media, whose propaganda constantly diverts our thinking away from these real problems with the latest political/celebrity ‘sensation’. It is here that the real blame lies.

Our media is the very essence of how we all assess and manage political and corporate activity. It is the means by which we regulate the powerful. History has shown how the powerful are always blinded by their own power – hence Magna Carta all those centuries ago.

As the media continue to play down the threats to our very existence we look to whistle-blowers and other responsible people to inform us. Will it take this extreme behaviour to bring the media back on course again, because we need something?

I understand that Rupert Murdoch is now dating Jerry Hall, Mick Jagger’s ex. Maybe our salvation will be found in her knocking some sense into him but I’m not holding my breath!

Until the next time


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes

Mass Slaughter By TPP!

Now the toxic TPP trade deal is out in the open we can see why it has been kept so secret for so long. Many news reports carried the same headline theme – and I paraphrase – “Worse than anticipated”.

Whilst most attention has previously concentrated upon the dilution of democracy, by allowing corporations to sue governments if legislation they introduce in anyway threatens future profits, it is the insidious fine print that now shows us just how aggressive and dangerous these new trade agreements actually are.

All we need to look at are two areas of the deal to see that not only is it threatening to our health, it could also create life threatening situations across wide ranges of global Society. The two areas I am looking at are food standards and the rules concerning the blocking of generic medicines, at affordable prices, from entering the marketplace.

In the first place, it is taken for granted that the job of governments is to look after their citizens by protecting them. At its most basic laws are implemented to stop us from murdering each other and thereafter rules to ensure we have a safe environment in which to interact both commercially and socially.

Food standards are a critical aspect of our rule making, so we do not poison each other for the sake of profit. In some countries hygiene standards are so low that more advanced societies need to implement aggressive legislation and scrutiny procedures that carefully monitor these food imports.

To ram the point home, in Vietnam farmed shrimp is nurtured in pools fertilized by human excrement and then plenty of antibiotics are added, before the shrimp are harvested, to deal with the possible effects of the human waste. Obviously food inspection from here needs to be more thorough than from other countries. Under TPP however, this can be challenged because you are discriminating against one country and challenging competition.

I have selected one extreme example to make the point but this odious agreement undoes many safeguards that have been built up over the centuries of experience that has been gained in international trade. Indeed the recent frightening revelations about VW and exhaust emissions demonstrate our need for continued vigilance.

Time and time again corporations show us they simply cannot be trusted, making government oversight and regulation essential for our own wellbeing and safety.

But let’s get back to food poisoning. It’s bad enough that scrutiny of food quality and production would be thrown out of the window, causing a dramatic increase in health problems but this whole scenario is further threatened because we could be limited in our ability to cure illnesses caused by shoddy food!

The pharmaceutical industry is being spoilt rotten by this trade deal. For decades it has ranted about the poor conditions that hold it back from properly protecting its patents and exclusivity of product range. With this new agreement Big Pharma will be able to extend its monopoly protection, which will have the direct effect of keeping prices high by stopping generic products from entering the marketplace.

The present 20 year period will be extended, potentially indefinitely. Only small modifications to current medicines, such as changing dosage or minor changes to formulation, which make little or no improvement to the drug, enable patents to be renewed. This protects company’s high prices, thus keeping the drugs out of the hands of the poor and stopping cheaper generic drugs coming to their assistance.

It doesn’t take rocket science to work out from all of this that one part of the bill is a licence to seriously infect mankind with dubious food products, whilst hamstringing the healing profession from coming to our aid!

We have ample evidence that corporations are raping this beautiful Planet of all it provides and now powerful agreements are being enacted to turbo boost this destruction by placing us in life threatening situations.

What I can’t get my head around is that in producing shoddy food we will quickly refrain from buying it. (I am particularly sensitive when it comes to buying seafood and will only purchase from respected and trusted suppliers.) Why are they pushing away the very people who make their profits? Evidence is already emerging that world trade is falling dramatically so how will this agreement help matters? DUH!!!!

It seems as though, like politicians and EU bureaucrats, there is only corporate contempt for the population at large. Not only are they reducing employment with increasing technology but those with a job suffer lowering wages. All of which will make it increasingly impossible for them to afford the necessary medicines for the treatment of the unregulated food (with reduced labelling!) that will start entering our shops.

This whole trade agreement has focussed solely upon corporate power and profits, with scant regard for the knock on effect to Society. A Society that has built up standards from experience gleaned over centuries of interaction and mistake. What we have is far from perfect but this abomination is taking us back to feudal times.

Crunch time is approaching, because there is no way we can be taken back to the dark ages with autocratic trade agreements such as TPP. Evolution has brought us to where we now stand and it is not capable of backward movement. The current breed of politician have demonstrated their total inability to lead and rule in a responsible fashion and it is here that the day of reckoning will birth itself.

Corporations are for (democratically regulated) trade . . . not the management of Society.


Until the next time


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes


So New Zealand, quickly followed by the US, have finally put the full text of this notorious trade agreement in the public gaze. I have set out below a number of websites giving coverage of the deal for you to pick and choose, over and above whatever you have already looked at and hope they are of help.

What jumped out of the page for me, following my piece yesterday on the New World Order was President Obama’s summing up of the deal, which seemed to say everything:

 “The TPP means America will write the rules of the road in the 21st Century. When it comes to Asia, one of the world’s fastest growing regions, the rulebook is up for grabs. And if we don’t pass this agreement – if America doesn’t write those rules – then countries like China will. And that would only threaten American jobs and workers and undermine American leadership around the world.”

Given the state the world is now in, with Wall Street debt crippling most countries, I am sceptical about what the future could hold, with a Trade Agreement like this simply giving more power to the US.

The fact that it has had a gestation period of 7 years in absolute secrecy, with US senators only recently allowed to look at certain aspects of the agreement, under strict legal conditions that they do not speak out on what they have read, goes against the very grain of democracy. In the age of the internet secrecy is in direct opposition to this new era and speaks volumes on how the powerful view it.

The document itself is over 2000 pages long and in complex legal jargon that the simple minded, like myself, would find not only difficult to understand but also lose the will to live long before getting to the halfway page!

As we have seen with the gradual usurping of national power by the EU, stealth and secrecy are the stock in trade of the powerful, as they seek greater domination of this beautiful Planet and TPP is a ringing endorsement of this sordid practice.

Democracy is being systematically repressed. Nowhere in this public offering of the agreement are the people being asked for their contribution and opinion. We are simply being railroaded into something that appears, to all intense and purposes, to be irreversible once implemented.

The discussion phase is long past and we are given a full view of what is now proposed at a time when agreement has been reached and implementation is being scheduled for 2016/2017. What is blatantly apparent is the press coverage which will put its full efforts behind a propaganda campaign to play up the needs and merits of this odious agreement.

It is up to us to work our way beyond this media smoke screen and find unsponsored comment from our independent media on the reality of these 2000 pages. Only then can we bring even more pressure to bear on like-minded politicians and other powerful players who seek to safeguard our interests, as well as their own.

Our rising anger is the glue that will bring us together and demand the re-emergence of democracy, either peacefully or otherwise!

Until the next time



New World Order . . . Which One?

There is no doubt we are now looking at several ‘New World Orders’, of which the first is unprecedented in shape, size and power. The internet has changed forever how we interact as a species, undermining the old power bases that controlled Society.

In the past that power was wielded by keeping us in ignorance and separated by Race, Colour, Creed and Gender, causing constant conflict with the use of these ‘labels’. The internet is lifting the veils on how the world is run and uniting us against the real adversaries this unveiling has produced.

However, this new technology carries a double edged sword, as the very means by which we are becoming empowered is also the tool by which the minority now seek to contain that empowerment.

Global communications have become so sophisticated now that our thinking is being manipulated by spin, creating fear and uncertainty in minutes.

(The Greek crisis saw the media hold the Greek people accountable for the country’s financial problems. And we believed it until the internet showed us how American banks and Greek politicians had brought the people to their knees by contemptuous deception.)

When America became the global super power, it consolidated its position through the inauguration of such bodies as the United Nations and the International Monetary Fund. Whilst both appear to be ‘international’, they are supporting and promoting the political and financial power of America.

We have seen the IMF at work in its ferocious subjugation of the Greek people, also providing a subtle message to the rest of us to back off. There is always spin when these bodies make a power grab and with the Greek people ‘Austerity’ was promoted as making the people more responsible in manging their money, whilst stripping the country of its national assets.

The UN have now embarked upon a truly scary programme, hidden in a vast spin ‘to aid humanity’, as they make a grab for world government.

In September they launched a new ‘Universal Agenda for Humanity’. They did not ask our permission but rather issued a command that we all sign up to 17 sustainable development goals to radically transform the world by 2030.

To widen its remit the UN also called on the services of the Pope, who went to America to put his organisations support behind what is effectively Agenda 21 – World domination – on steroids! (Read the Guardians coverage of Agenda 21 here:

To give you a flavour, Goal 16.9 intends that biometric information, stored at a central database in Geneva, be held on every man, women and child on the Planet by 2030. (What’s with 2030?!) The spin is that it is being done on humanitarian grounds, because of the growing population of homeless refugees who need credible identities to find new homes.

OK, but the rest of us (the vast majority) are not homeless and so why do we need one?!

Then we move from political control to financial control, as cash is removed from our day to day lives and replaced with digitised money, which can be controlled, (and allow ongoing negative interest rates), whereas paper currency cannot. This will ‘make our money safer, fighting crime and money laundering’ is the spin given here.

Money has been converted into debt and Austerity is spun as the means by which we control our sovereign finances to pay back that debt, whilst our public utilities are sold off at a fraction of their worth and governments are brought under the control of an unelected IMF.

TTIP, spun as a Trade Deal, will further erode the power of our elected governments with its insidious ISDS clause, allowing corporations to sue governments if legislation threatens their profits. (Any attempt at regulation goes out the window here!)

Then there is ‘Surveillance’, the extent of which Edward Snowden and others have made us frighteningly aware of. Rather than cutting back however, it is being ramped up and spun as effectively ‘fighting Terrorism’.

Except it was the CIA who supported the birthing of these terror groups in the first place, to keep us fighting amongst ourselves whilst it pursues its own power grabbing agenda. All of which is fronted by the global media propaganda machine spinning our attention away from these realities by creating fear through constant crises.

This diversity of strategies, to usurp sovereign power, points to a growing potential ‘New World Orders’ that is seeking the abusive type of global governance George Orwell alluded to in his famous book 1984.

Worrying as it looks, I have my doubts about possibility of performance. If we look at the EU, here is a project that has been slowly nurtured over decades to control Europe. Political and financial power has stealthily been acquired by gradually usurping national powers, spun as ‘European Unity’.

However, this is being done with great secrecy, thereby distancing the 500 million of us that pay for it all. For this, or any project, to be a success there has to be inclusion, leadership and management.

Instead we have political concession, dictatorship, financial belligerence and abuse, creating a widening gap between the powerful and the people. There is certainly no clear agenda with which to deal with unemployment, financial mismanagement and now immigration, showing the EU up for what it truly is . . . another power grab.

If the deputy to the President has just admitted that people have lost all respect for the credibility of the politicians and their system and that the “unimaginable is now becoming imaginable” in the collapse of the EU, then this speaks volumes in where Society has now got to.

We are not the Society we were when this project began in 1957. We have become more aware of the lies and political shenanigans that have been going on for 60 years. It has cost us untold freedoms and money that we could have used for our own sovereign benefit.

What is spreading across Europe and other parts of the world is the demand for the return of our power, which we can exercise in a more closely controlled and beneficial environment, because we again have a say over what goes on.

And here I get to the third of the ‘New World Orders’, as our growing awareness begins to empower us in a manner we have never experienced before. I see “the imaginable” with the EU as just the beginning, calling a halt to the manipulations of the powerful and their impossible dream of world governance.

Where it will take us I do not know but we are no longer the illiterate serfs that global power was previously built upon. What I do know is that if we put our energies into developing our own independent media, something the internet was born for and stop being engineered into fighting amongst ourselves, we will increase our own power exponentially as the first step to creating our own ‘New World Order’.


Until the next time


Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes