While Merkel is flaunting EU Values, Germany Values, chastising Poland, Hungary, Italy, etc…, Germany’s Deutsche Bank continues to be mired in penalties and fines for Money Laundering schemes and other banking irregularities…
After a $7.2 billion settlement in 2017, a $630 million settlement followed. It almost appears as though the settlements are considered peanuts in comparison to the dividends it reaps, and therefore worth the slap on the wrist.
A recent audit by KPMG tasked Deutsche Bank with being ‘more prudent’ to restrict their continued money laundering and terrorist funding!
The bank responded by firing more employees.
So the EU drafted their 5thMoney Laundering Directive in response. Only thing, it won’t become effective until January 10, 2020. In other words, get all your laundering done NOW because in 2 more years, it will be harder? Really?
But it certainly isn’t just Deutsche Bank, the UK is considered a large hub for money laundering. Transparency International identified 760 companies registered in the UK from 13 different countries that it called out as access points for money laundering.
The value globally is estimated to be between $1.5 trillion and $2.85 trillion annually.
It comes from corrupt officials in every country across the globe – and the banks turn a blind eye because the money generates money, so Deutsche Bank has simply been jumping on the band wagon to try and boost it’s continuous failure to produce a profit.
Switzerland has always been a hub. BIS – the Bank For International Settlements is at the core. It is the international version of the Federal Reserve, having opened its doors in 1930 to act as a middle man for doling out post WWI reparations as a result of Germany’s actions. But this cause never came to fruition, tabled as obsolete, and instead BIS became the cabal headquarters in 1932 among its member states; Germany, Switzerland, US, UK, Japan, Belgium and France. Board of Directors have included prominent Nazi’s Walthur Funk and Emil Puhl.
Although the dissolution of BIS was ordered as a result of its Nazi collaboration, in April 1945, Harry S. Truman and the UK’s PM Sir Winston Churchill, reversed the approved dissolution. It was Truman’s first day in office after the death of FDR.
Despite its decidedly European presence, the US and Japan were prominent within its cabal of the Group of Ten. At the same time, BIS created the International Monetary Fund.
Over the next decades, BIS expanded it’s reach operating in Hong Kong, China, Mexico, South America, Israel, Turkey, Thailand, Canada, Indonesia, Australia, India, ultimately encompassing 60 member central banks across the globe. Globalization at its finest.
Between 2012 and 2016, money laundering by banks and financial institutions in Israel rose 75%. 11% of the laundering was considered related to terrorist funding.
In 2014, a scathing report unveiled: “A Canadian Centre for Policy Alternatives report titled “The Big Banks’ Big Secret” revealed Canadian Prime Minister Stephen Harper and Canadian Central Bank Governor / Vatican FSB Chairman Mark Carney secretly used Canadian banks to money launder $trillions to the Vatican Bank (Central bank for the Crown – Pope Benedict XVI”.
In 2015, Canada’s RBC began exiting from its Latin America and Caribbean businesses as it tried to put arms length between it and massive money laundering schemes being systematically exposed.
And just days ago, Dansk Bank CEO, Thomas Borgen, resigned after a $300 billion money laundering inquiry showed dirty money flowing through its Estonian branch.
And while the concern is pointed toward the criminals, the mafiosa’s, Russia has become a target of the media cause when it is believed Russia accounts for about $15 billion of the annual flow – or roughly 5% of the global total.
Ukraine is central – thanks to the coup. The Baltic states which Merkel rallied extensively for EU inclusion, Estonia, Lithuania and Latvia, also rank high since their embrace by the EU into International Banking and EU membership status.
But the largest venue for the existence of money laundering continues to be the big banks that all seem to operate under the authority of BIS. As long as the banks comply – it will continue. As long as no one goes to jail – it will continue.
One thought on “Money Laundering: Europe’s Central Bank BIS”
Very interesting subject , appreciate it for posting . All human beings should try to learn before they die what they are running from, and to, and why. by James Thurber. edfkedeaffac