Tower of Basel: Nazi Gold & the Untouchable Central Bank [Adam Lebor]

Read the Full Article on SubstackWatch Urban & Juxtaposition1 Discuss Switzerland's RoleThe provided text explores the history and operations of the Bank for International Settlements (BIS), detailing its establishment by central bankers, such as Montagu Norman and Hjalmar Schacht, as a private “club” designed to operate free from political interference. These excerpts emphasize the bank’s commitment to privileged confidentiality and its exceptional legal inviolability status derived from international treaties. A significant portion of the material addresses the BIS’s deeply controversial activities during World War II, when it maintained strong financial ties with Nazi Germany, accepting looted gold and conducting foreign exchange deals for the Reichsbank. Despite failed attempts by figures like Henry Morgenthau to dismantle it after the war, the BIS successfully repositioned itself as an essential technocratic hub, coordinating global finance, hosting crucial regulatory bodies, and significantly influencing the processes of European economic integration. Ultimately, the text highlights the immense power and lack of public accountability wielded by this highly influential institution. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit theofficialurban.substack.com/subscribe