Subnostr

Where does the yield come from?

“Investigations after the war revealed that the Reichsbank had used large quantities of gold stolen from central banks in the occupied territories to make wartime payments to a number of institutions including the Swiss National Bank and the BIS. This gold had been remelted at the Prussian mint to conceal its origin. In this manner, during the war, the BIS received 3.7 tonnes of gold from the Reichsbank which, it emerged from German records captured after the war, had originally been looted from the central banks of Belgium and the Netherlands. The BIS cooperated fully with the postwar investigations led by the Allied Tripartite Commission for the Restitution of Monetary Gold and returned 3.7 tonnes of gold to the Commission in 1948.”

https://www.bis.org/about/history_2ww2.htm

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Pedro 🧨 2y ago

Nothing is more permanent than a temporary central bank.

“In July 1944, a United Nations conference met at Bretton Woods in the United States to discuss the postwar international monetary system. The Bretton Woods Conference adopted a resolution calling for the abolition of the BIS "at the earliest possible moment", because it considered that the BIS would have no useful role to play once the newly created World Bank and International Monetary Fund were operational. European central bankers held a different opinion, and successfully lobbied for maintaining the BIS. By early 1948, the BIS liquidation resolution had been put aside. It was understood that henceforth the BIS would focus foremost on European monetary and financial matters.”