September 11 Commission Report - Gnostic Liberation Front

During World War II, the two German banks represented the primary banking powers in
Nazi Germany. There are three events that occurred during the last 50 years which have
provided a basis for resentment on their part with the American banking community.
When the Allies took over Germany, the British generally left the banking structure in
their zone as they found it. The Americans, however, broke up these banks into 30
autonomous regional banks and put in place a number of regulations to prevent these
banks from ever re-establishing themselves as major global powers. Those rules,
however, were ultimately circumvented, and the banks manage to re-establish themselves
in the 1960’s.
Just as these banks were re-emerging as global players, the Richard Nixon administration
unilaterally took the dollar off the Bretton Woods System of Fixed Exchange Rates,
which then created an advantage for the American banks and economy that has taken the
rest of the world several decades to recover from. It seriously undermined the German
competitiveness in the export market, which took the Germans years to recover from. The
advantages that came with the move off the Bretton Woods agreement – in terms of
enhanced perceived value of the dollar– has given a global advantage to the New York
bank center for almost two decades.
Over the next three decades, Europe was able to muscle its way back to a position where
the banks were almost on par with New York. Together, the two banks represented a
coordinated and balanced global strategy: Deutsche Bank had 21 of its 28 foreign
affiliates in Africa and Asia, Dresdner had 16 of its 21 affiliates in Latin America. Not
all of this “comeback” can be attributed to the inherent attractiveness of the Euro or
European currencies. At one point, Tokyo banks, representing the growth of the orient,
stood to overwhelm European banks in the 80’s. In response to this threat, the
International Bank of Settlements (heavily weighted by participants from Paris, Frankfurt
and Basel, and taking advantage of the unfortunate absence of the American delegate)
voted to establish new bank capitalization requirements which targeted the Tokyo
banking practices of defining property value as equity with which to create loans. This
redefinition of the asset base with the stroke of a pen essentially drove the collapse of the
Tokyo banking system, and subsequently, the rest of the Pacific Rim. (Currently, this
same group is driving another round of re-defining capitalization requirements which are
designed to cripple the US banking industry by regulating the use of government debt as
a capital base. Given that a devaluation of the dollar is globally perceived as inevitable,
requiring the US banking system to hold large amounts of US government debt will
automatically devalue the reserves of the American banks. American bankers watching
this regulation emerge over the years have converted their primary strategies from
traditional banking to equity banks, hence the battle with the German equity banks.)
A third American attack on the German banking industry took place in 1993, led by
George Soros and George Bush Sr.
“His US contacts put Soros very close to the financial and secret service circles around George Bush.
His most important deposit bank and main lender during his attack on the European monetary system
in Sept. 1993 was CITICORP, America's largest bank. Soros called upon the international investors to
unhinge the Deutsche Mark. When in late 1989 a reunification became probable, a high ranking
Citicorp manager who before had been advisor in the Dukakis campaign said: "German unity will be
catastrophic for our interests. We have to take action to insure a decline of the Deutsche Mark by about
30% so that Germany will not be able to built up Eastern Germany to become the economic factor
THE SEPTEMBER 11 COMMISSION REPORT Page 117