REPORT #465 March 2002

Produced by the Belize Development Trust

( Some background donated by a listserve member )

This message sent to the Bz-Culture Mailing List from Dennis L. Feucht:


You make some very good points, and accurate, about the high-level politics of international finance.

However, though you might know the following, I offer a little additional background material to fill in the picture for others on the BZ list-server. The following excerpts are taken from a book by Ted Flynn titled _Hope of the Wicked_ (, 2000, pp. 177-179. Let's start at the Mother of Banks, with ...


"Operating in great obscurity in Basel, Switzerland, [the Bank of International Settlements (BIS)] wields even greater power than the Federal Reserve as it is considered the central banks' bank. [The BIS], operating on the global level, coordinates with the local central bank in each country the material changes in domestic law necessary to bring the world monetary system into harmony."

"According to Dr. [Carroll] Quigley [Bill Clinton's New World Order mentor at Georgetown U.]:

" The 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. The apex of the system was to be the BIS in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. The BIS is generally regarded as the apex of the structure of financial capitalism whose remote origins go back to the creation of the Bank of England in 1694 and the Bank of France. It was set up to remedy the decline in London as the world's financial center by providing a mechanism by which a world with three chief financial centers in London, New York, and Paris could still operate as one."

... It was the BIS which also designed a number of very sophisticated investment instruments being used today, such as derivatives, futures and options. It also paved the way for trading treasury bonds on a global basis."

The World Bank/IMF

"Both of these institutions, comprising the key economic cornerstones for the global infrastructure, were birthed at the U.N. Bretton Woods Conference in 1944. The World Bank has evolved from its original mandate of making developmental loans to one of epic magnitude in scope. The International Bank for Reconstruction and Development (IBRD), the first piece of the World Bank empire, and the International Development Association (IDA) make loans to developed countries and developing countries of the world. The World Bank is composed of five other subordinate banks: the European Bank for Reconstruction and Development (EBRD), Asian bank, African Bank, Latin American Bank, and the Caribbean Development Bank." [The Caribbean Bank is the smallest of the five.]

Now here's the part relating to Ray's comments about bankruptcy in global finance:

"Then there is the Multilateral Investment Guarantee Agency (MIGA) that provides guarantees to foreign investors against losses caused by non-commercial risks. In 1996, they issued 68 contracts covering $2.3 billion. MIGA acts as an insurance company for the World Bank. The World Bank loans to Second, Third, even Fourth World countries, and private sector banks are wary of the great risks involved with these loans. MIGA was created to eliminate risk, to give the private sector recourse for repayment if a loan defaults."

"World Bank president James A. Wolfensohn, states:

"We have expanded our links with the U.N. and its agencies, the World Trade Organization and the European Union. The Bank is working with governments to help them improve the policies and legal tax and judicial systems that are crucial for encouraging investment."

The International Monetary Fund is currently being restructured by the Group of Seven, the World Bank, and the United Nations, to fulfill the functions of a 'world central bank.' As greater economic powers are conferred to the IMF it has basically orchestrated the transfer of growth from the [developed to developing] countires through their economic policies."

So, Ray, the World Bank is covered by MIGA against defaults. But this entire structure is not for the purpose of helping developing countries grow economically but is instead "crucial for encouraging investment." Well, the GoB apparently was encouraged. Its real purpose is, as you said, to rake off growth assets from such countries and, more importantly, to control them.

A member of the founding family of the Bank of England, Nathan Mayer von Rothschild, put it so simply when he said:

"I care not what puppet is placed on the throne of England to rule the Empire, ... The man that controls Britain's money supply controls the British Empire. And I control the money supply." Baron Nathan Mayer de Rothschild

And the BoE founder himself said:

"Permit me to issue and control the money of a nation, and I care not who makes its laws." Mayer Amschel Rothschild

We are seeing the global Monoploy end-game being played out before our very eyes.

Dennis F.

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