The BIS is a significant gold dealer for central banks and owns a lot gold itself, and the BIS…
by Chris Powell of the Gold Anti-Belief Motion Committee (GATA)
Pricey Buddy of GATA and Gold:
As Western financial sanctions in opposition to Russia over its invasion of Ukraine began to get extra critical, your secretary/treasurer despatched a query to the press workplace of the Financial institution for Worldwide Settlements in Switzerland:
“Is the BIS freezing or in any other case limiting Russian belongings and transactions via the BIS?”
GATA has not but acquired a reply from the BIS. However this morning Reuters revealed a report quoting a BIS spokeswoman saying: “The BIS won’t be an avenue for sanctions to be circumvented”:
However that doesn’t fairly reply GATA’s query, which was basically whether or not the BIS continues to be enterprise any transactions for the Russian central financial institution, the Financial institution of Russia. In fact the BIS is a significant gold dealer for central banks and owns a lot gold itself, and the BIS and Financial institution of England are traditionally infamous for serving to Nazi Germany expropriate the gold held by Czechoslovakia on the Financial institution of England following the Nazi occupation of that nation in 1939:
The BIS acknowledges taking part on this soiled little affair:
So, as GATA requested yesterday, is the BIS enterprise any transactions for the Financial institution of Russia, fairly aside from any that is likely to be construed as circumventing sanctions? If that’s the case, what are these transactions, and do any contain gold, the worldwide forex par excellence?
Previously the BIS has tended to reply to GATA’s inquiries promptly, although not essentially to reply them:
Perhaps the financial institution nonetheless will reply to GATA’s query of yesterday. Within the meantime, it appears honest to surprise if the financial institution once more could also be concerned in exercise a lot of the world would possibly contemplate dishonorable or worse.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Belief Motion Committee Inc.
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