2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

[Magda Hassan]

Peter, it is true. Read this bit of history about the BIS:

Sovereignty and Secrecy

It is not surprising that the BIS, its offices, employees, directors and members share an incredible immunity from virtually all regulation, scrutiny and accountability.

In 1931, central bankers and their constituents were fed up with government meddling in world financial affairs. Politicians were viewed mostly with contempt, unless it was one of their own who was the politician. Thus, the BIS offered them a once-and-for-all opportunity to set up the "apex" the way they really wanted it -- private. They demanded these conditions and got what they demanded.

A quick summary of their immunity, explained further below, includes

• diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches)
• no taxation on any transactions, including salaries paid to employees
• embassy-type immunity for all buildings and/or offices operated by the BIS
• no oversight or knowledge of operations by any government authority
• freedom from immigration restrictions
• freedom to encrypt any and all communications of any sort
• m from any legal jurisdiction 9

Further, members of the BIS board of directors (for instance, Alan Greenspan) are individually granted special benefits:

• “immunity from arrest or imprisonment and immunity from seizure of their personal baggage, save in flagrant cases of criminal offence”
• “inviolability of all papers and documents”
• “immunity from jurisdiction, even after their mission has been accomplished, for acts carried out in the discharge of their duties, including words spoken and writings”
• “exemption for themselves, their spouses and children from any immigration restrictions, from any formalities concerning the registration of aliens and from any obligations relating to national service in Switzerland ”
• “the right to use codes in official communications or to receive or send documents or correspondence by means of couriers or diplomatic bags” 10

Lastly, all remaining officials and employees of the BIS have the following immunities:

• “immunity from jurisdiction for acts accomplished in the discharge of their duties, including words spoken and writings, even after such persons have ceased to be Officials of the Bank”
• “exemption from all Federal, cantonal and communal taxes on salaries, fees and allowances paid to them by the Bank…”
• exempt from Swiss national obligations, freedom for spouses and family members from immigration restrictions, transfer assets and properties – including internationally – with the same degree of benefit as Officials of other international organizations.11

Of course, a corporate charter can say anything it wants to say and still be subject to outside authorities. Nevertheless, these were the immunities practiced and enjoyed from 1930 onward.

On February 10, 1987, a more formal acknowledgement called the "Headquarters Agreement" was executed between the BIS and the Swiss Federal Council and basically clarified and reiterated what we already knew:

Article 2
Inviolability
The buildings or parts of buildings and surrounding land which, whoever may be the owner thereof, are used for the purposes of the Bank shall be inviolable. No agent of the Swiss public authorities may enter therein without the express consent of the Bank. Only the President, the General Manager of the Bank, or their duly authorized representative shall be competent to waive such inviolability.

The archives of the Bank and, in general, all documents and any data media belonging to the Bank or in its possession, shall be inviolable at all times and in all places.

The Bank shall exercise supervision of and police power over its premises.

Article 4

Immunity from jurisdiction and execution
The Bank shall enjoy immunity from criminal and administrative jurisdiction, save to the extent that such immunity is formally waived in individual cases by the President, the General Manager of the Bank, or their duly authorized representative.

The assets of the Bank may be subject to measures of compulsory execution for enforcing monetary claims. On the other hand, all deposits entrusted to the Bank, all claims against the Bank and the shares issued by the Bank shall, without the prior agreement of the Bank, be immune from seizure or other measures of compulsory execution and sequestration, particularly of attachment within the meaning of Swiss law. 12

As you can see, the BIS, its directors and employees (past and present) can do virtually anything and everything they want, with complete secrecy, immunity and with no one looking over their shoulders.

It was truly a banker’s dream come true, and it paved the international freeway for the rampant financial globalism that we see manifest today.

http://www.bibliotecapleyades.net/sociop...king04.htm