"After 1945, five BIS directors, including Hjalmar Schacht, were charged

with war crimes. Germany lost the war but won the economic peace, in large

part thanks to the BIS. The international stage, contacts, banking networks, and

legitimacy the BIS provided, first to the Reichsbank and then to its successor

banks, has helped ensure the continuity of immensely powerful financial and

economic interests from the Nazi era to the present day."

Adam Lebor, Tower of Basel

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