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Posts Tagged ‘Switzerland’

BIS Headquarters in Basel

The Bank for International Settlements, the central bank for the central bankers, was established in 1930, and its purpose was described by Georgetown professor Carroll Quigley in his 1966 book, Tragedy and Hope:

[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.

BIS rules, according to Ellen Brown, prohibit governments from borrowing from their own central bank or issuing their own money.

Among its current 60 members there are five Muslim-majority countries: Algeria, Malaysia, Saudi Arabia, Turkey, and United Arab Emirates.

The most significant of the five, to me, are Saudi Arabia and the UAE. Despite pretenses of both being presented as challenges to the current world power structure, with Saudi Arabia controlling so much oil reserves and having a very different society than the liberal Western societies of today, and the UAE being a regional financial and business powerhouse, both are members of this private central banking cartel whose purpose, as mentioned earlier, is to “[dominate] the economy of the world as a whole.”

Note that among all the Muslim-majority countries that have had massive uprisings (Tunisia, Egypt, Yemen, Bahrain and Syria) or U.S. bombings (Afghanistan, Iraq, Pakistan and Libya), none of them were members of the BIS.

The U.S. and NATO turned a blind eye to BIS member Saudi Arabia suppressing an uprising in neighbouring Shiite-majority Bahrain.

Despite pretenses of Saudi Arabia and the UAE promoting Shariah-compliant banking as a strong challenge to the current world banking system, their membership in the BIS should indicate otherwise.

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In their 2011 Index of Economic Freedom, the Heritage Foundation designated Canada’s economy as “free,” while the United States embarrassingly slipped down into its list of “mostly free” economies.

Canada was ranked in 6th place just behind other “free” economies like Hong Kong, Singapore, Australia, New Zealand and Switzerland, while the U.S. was ranked in 9th place, sharing company with “mostly free” economies like Uruguay in 33rd place.

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Euromoney publishes a semi-annual “Credit Risk Rating” of 185 sovereign countries.

In their latest publication, from March 2010, eight of the top 10 are “European socialist welfare states,” as they are commonly referred to as.

Rounding out the top 10 are: Norway, Luxembourg, Switzerland, Denmark, Finland, Sweden, Austria, Canada, the Netherlands, and Australia.

Hong Kong and Singapore didn’t make the cut, despite being seen as among the most economically free countries, as one 2010 report ranked them.

Canada continues to buck old perceptions of being less economically free and successful than the U.S., by being ranked more economically free by the conservative Heritage Foundation’s 2010 Index of Economic Freedom, and more tax competitive for business, by Big Four accounting firm KPMG in their 2010 report.

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