Duh! Anyone who has been reading {Executive Intelligence Review}
for the past 40 years knows full well Montagu Norman's role in
promoting Hitler--with a helping hand, of course, from Prescott
Bush.
See, for example, Lyndon LaRouche's March 1, 1983 article
"Adolf Hitler: Fifty Years Later":
http://www.larouchepub.com/eiw/public/1983/eirv10n08-19830301/eirv10n08-19830301_028-adolf_hitler_fifty_years_later-lar.pdf
So the only news here, is the fact that the Telegraph chose to print this
just as the fight for the re-enactment of Glass-Steagall is getting very
hot in Washington.
John Sigerson
EIR News Service, Inc.
Web: http://www.larouchepub.com
E-mail: ei...@larouchepub.com
On Wed, 31 Jul 2013 13:25:40 -0700 (PDT), Tony Gosling wrote:
> key role of the taboo BIS exposed again!
>
> Was Montagu Norman a Nazi sympathiser?
> Until last month, a small portrait of Sir Montagu Norman
> hung in the Governor¡¦s private meeting room beside his
> office at the Bank of England.
>
> Montagu Norman (pictured) was close friends with Hjalmar
> Schacht, Adolf Hitler's minister of economics and
> Reichsbank president
> By Philip Aldrick, Economics Editor - 4:50PM BST 31 Jul 2013
>
http://www.telegraph.co.uk/finance/bank-of-england/10214541/Was-Montagu-Norman-a-Nazi-sympathiser.html
>
> Norman was Britain¡¦s first modern central banker and
> Governor for a remarkable 24 years until 1944, amassing
> powers at Threadneedle Street that turned what was a cosy
> City institution into an arm of the state.
>
> But he was also an economic dinosaur, whose determination
> to put Britain back on the gold standard in 1925
> destroyed industry and condemned Britain to a more severe
> recession than necessary.
>
> Adam Posen, a former Bank¡¦s rate-setter, has said that
> when he could not decide which way to vote he would look
> at the giant portrait of Norman hanging in the Monetary
> Policy Committee¡¦s meeting room and ask himself ¡§What
> would Montagu do?¡¨. Then do the opposite.
>
> So, Mark Carney¡¦s decision to remove the heirloom
> shortly after taking over as Governor on July 1 was
> loaded with symbolic significance. What he could not have
> known, though, was that another ¡V more damaging ¡V gold
> scandal involving Norman was about to erupt.
>
> On Tuesday, in a newly digitally published history, the
> Bank revealed that it had helped the Nazis sell gold
> looted from Czechoslovakia in March 1939. The documents
> put Norman right at the heart of the decision, raising
> fresh questions about his suspected Nazi sympathies.
>
> According to the documents, the gold was being held in
> the Bank¡¦s vaults on behalf of the Bank for
> International Settlements (BIS) ¡V the central bank for
> central banks. On March 21 1939, BIS requested the Bank
> transfer ¢G5.6m of gold ¡V ¢G735m in today¡¦s prices ¡V
> from ¡§Number 2 Account to Number 17 Account¡¨.
>
> The Bank was ¡§fairly sure¡¨ the transfer was from the
> National Bank of Czechoslovakia to Germany¡¦s Reichsbank,
> the record states. But, regardless of its suspicions, the
> transfer was made that very same day. Over the following
> 10 days, the Reichsbank sold ¢G4m of the gold, with the
> proceeds poured into Germany¡¦s ongoing rearmament.
>
> There is little doubt the Bank was aware of the
> significance of its decision. The request came just days
> after Hitler had invaded Czechoslovakia, in direct breach
> of the Treaty of Munich of September 1938, when Germany
> was given the Sudetenland in exchange for peace.
>
> Moreover, the request came from the then BIS president, J
> W Beyen, a Dutchman. The Czech central bank, under threat
> from its new Nazi bosses, had instructed Beyen to make
> the transfer. The Netherlands at the time was feeling
> extremely vulnerable to invasion and desperately trying
> to demonstrate its neutrality, so Beyen was in no
> position to object.
>
> However, had it wanted, the Bank could have blocked ¡V or
> at least delayed ¡V the request. It had significant
> influence at BIS because its representative Sir Otto
> Niemeyer was chairman, a post that revolved between
> member countries. Yet, it took the French to suggest
> barring the transfer of the looted gold.
>
> According to the historical record, Norman told the
> Treasury on March 22 that he had ¡§received a telephone
> message from the Governor of the Bank of France proposing
> that they should urge their respective Treasuries to make
> joint protest to the President of the BIS against
> possible delivery of Czech assets to the Germans, and
> that they themselves should join in making a specific
> request to transfer no Czech assets pending the next
> meeting of the board¡¨.
>
> Norman ¡§declined¡¨ the request, taking the puritanical
> position that ¡§it would be wrong and dangerous ... to
> attempt for political reasons to influence the decisions
> of the president of the BIS¡¨.
>
> Contact with the French appears to have been made on the
> day both the BIS request and transfer were made,
> suggesting Norman green-lighted the deal personally. His
> defence was that BIS rules had to be followed no matter
> what, and he persisted with this absurd line even after
> war was declared on September 3.
>
> On September 4, he wrote to senior Treasury official Sir
> Richard Hopkins to warn that any deviation from the BIS
> rules ¡§would offer hostile propaganda an excellent
> opportunity for criticism that, where it is in their
> interest, HM Government do not hesitate to disregard
> their international arrangements¡¨.
>
> To make itself absolutely clear, the Treasury replied: ¡§
> The Bank should not act upon an order of the BIS if it
> seems to the Bank to be likely that the order might
> benefit the enemy... The Bank should not act upon an
> order without consulting the Treasury... Neutrals are to
> be assured that, where the Treasury are satisfied as to
> ownership, orders by the BIS shown to be on behalf of
> neutrals will be authorised¡¨.
>
> The documents reinforce the impression that Norman was an
> inflexible aparatchik, but also renew questions about his
> suspected Nazi sympathies. As outlined in Liaquat Ahmed¡¦
> s Lords of Finance, Norman was close friends with Hjalmar
> Schacht, Hitler¡¦s minister of economics and Reichsbank
> president.
>
> In January 1939, Norman went to Berlin to attend the
> christening of Schacht¡¦s grandson, named Norman in his
> honour. Ahmed writes that Norman admired ¡§Schacht, and
> during the early years of Nazi rule, even the
> achievements of Hitler ¡V he is said to have told a
> Morgan partner that 'Hitler and Schacht are the bulwarks
> of civilisation in Germany¡¦.¡¨
>
> Schacht later turned against Hitler and was sent to
> Dachau in 1944 for suspected involvement in the attempt
> on the Fuhrer¡¦s life. But he played a vital role in
> restoring Germany¡¦s fortunes under the Third Reich.
>
> Suspicions about Norman¡¦s political leanings would be
> reinforced by his behaviour after the press got hold of
> the Czech gold scandal. By May 1939, it had become a
> major political issue and on May 26, the Chancellor of
> the time Sir John Simon, asked Norman if the Bank still
> had the Czech gold. Norman obfuscated.
>
> He ¡§did not answer the question¡¨, the record states. In
> fact, the Bank did have the gold. It never left the Bank¡¦
> s vaults, but was simply moved from one account to
> another. Beyen later defended his transfer request in a
> chance encounter with the journalist who broke the story.
> Being remarkably disingenuous, Beyen claimed: ¡§It is all
> technical. The gold never left London.¡¨
>
> More controversially still, on June 1, amid the political
> outcry, Norman conducted a further gold transaction on
> behalf of the Reichsbank worth ¢G860,000 ¡V without
> official clearance. ¡§This time, before acting, the Bank
> referred the matter to the Chancellor, who said that he
> would like the opinion of the law officers of the Crown,
> ¡¨ the record says.
>
> ¡§On the BIS enquiring, however, what was causing the
> delay and saying that inconvenience would be caused
> because of payments the next day, the Bank acted on the
> instructions without referring to the law officers.¡¨
> Norman defended his actions by claiming the law officers
> later supported the decision.
>
> History has not been kind to Norman, whose dandyish
> eccentricities such as disappearing on long cruises under
> the pseudonym Professor Clarence Skinner during crises
> have not enhanced his reputation. On the other hand,
> Carney¡¦s colleagues at the Bank of Canada, where he was
> Governor, say he is acutely aware of his place in
> history.
>
> Hanging in one of the BoC¡¦s boardrooms are portraits of
> all former Governors and whenever Carney was lobbied by
> some vested interest, according to his special adviser
> Tim Hodgson, he would ask: ¡§You¡¦re comfortable with the
> next Governor looking up at my picture and saying you did
> that to me. That¡¦s the standard by which I make
> decisions.¡¨
>
> Norman, it appears, has not passed the Carney test.
> _________________
> www.actorsandartistsfor911truth.org
> www.mediafor911truth.org
>
> --
> --
> Please consider seriously the reason why these elite
> institutions are not discussed in the mainstream press
> despite the immense financial and political power they
> wield?
> There are sick and evil occultists running the Western
> World. They are power mad lunatics like something from a
> kids cartoon with their fingers on the nuclear button!
> Armageddon is closer than you thought. Only God can save
> our souls from their clutches, at least that's my
> considered opinion - Tony
>
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--
--
Please consider seriously the reason why these elite institutions are not discussed in the mainstream press despite the immense financial and political power they wield?
There are sick and evil occultists running the Western World. They are power mad lunatics like something from a kids cartoon with their fingers on the nuclear button! Armageddon is closer than you thought. Only God can save our souls from their clutches, at least that's my considered opinion - Tony
You received this message because you are subscribed to the Google Groups
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