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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: Keith F. Wunderlich who wrote (683)	12/17/1997 3:36:00 AM
From: Keith F. Wunderlich	Read Replies (1) \| Respond to of 1756

Phil, I went back to the BIS and found this piece. There were 7 founding members not 6 as I stated in my previous post. This does not seem to be my day for reading English. It appears the following note states the founder shareholding members were central banks and that the Fed did not take up its rights as founder member until 1994.I assume this means the Fed was there in 1930 but just didn't take up its rights(for whatever reason?). As I pointed out in the previous post the ownership was therefore not taken by the Fed, thus it is some other individuals/institutions. Anybody know who? Keith Introductory note on the Bank for International Settlements, 1930 - 1945 1. The Bank for International Settlements, 1930-1945 The Bank for International Settlements (BIS) was established as an international financial institution, enjoying special immunities, pursuant to the Hague Agreements of 20th January 1930. The founder shareholding members were the central banks of Belgium, France, Germany, Italy, Japan, the United Kingdom and the United States (the Federal Reserve did not take up its rights as founder member until 1994). Within two years of its founding, nineteen other European central banks had subscribed to the Bank's capital. The Bank opened its doors in Basle, Switzerland on 17th May 1930. Its main objects were the following: 1- to act as trustee or agent in regard to international financial settlements, particularly in regard to German reparations under the so-called Young Plan adopted at the 1930 Hague Conference 2- to promote central bank cooperation 3- to provide additional facilities for international financial operations.