{"id":7761,"date":"2015-05-02T06:44:56","date_gmt":"2015-05-02T11:44:56","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7761"},"modified":"2015-05-02T06:44:56","modified_gmt":"2015-05-02T11:44:56","slug":"what-happens-when-you-hand-over-your-gold-to-the-bank-of-england-for-safekeeping","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7761","title":{"rendered":"What Happens When You Hand Over Your Gold To The Bank Of England For “Safekeeping”"},"content":{"rendered":"

What Happens When You Hand Over Your Gold To The Bank Of England For “Safekeeping”<\/a><\/h3>\n

 <\/p>\n

\u201cThe Bank for International Settlements is the bank which sanctions the most notorious outrage of this generation\u2014 the rape of Czechoslovakia.\u201d<\/em><\/p><\/blockquote>\n

\u2014 George Strauss, Labor MP, speaking in the House of Commons, May 1939<\/p>\n

\n
\u201cthe Bank for International Settlements should be liquidated before it
\nfurnished any more sinews of war to Germany, and that the odd
\nrelationship between the British government and the Bank of England
\nshould be re-examined without delay.\u201d<\/em><\/div>\n<\/blockquote>\n

\u2014 \u201cSees British Hands Tied on Czech Gold,\u201d New York Times, June 6, 1939<\/p>\n

When Nazi Germany annexed the Czechoslovak border province of the Sudetenland in September 1938, it immediately absorbed a good part of the country\u2019s banking system as well as most of Czechoslovakia\u2019s strategic defenses. By then the country\u2019s national bank had prudently transferred most of its gold abroad to two accounts at the Bank of England: one in the name of the BIS, and one in the name of the National Bank of Czechoslovakia itself. (Countries had deposited some of their gold reserves in a sub-account at the BIS account in London to ease gold sales and purchases.) Of the 94,772 kilograms of gold, only 6,337 kilograms remained in Prague. The security of the national gold was more than a monetary issue. The Czechoslovak reserves, like those of Republican Spain, were an expression of nationhood. Carved out of the remains of the Austro-Hungarian Empire in 1918, the Czechoslovak Republic was a new and fragile nation. A good part of the gold had been donated by the public in the country\u2019s early years.\u00a0Josef Malik, the governor of the national bank, and his fellow Czechs believed that, even as the Nazis\u2019 dismembered their homeland, if the national gold was safe, then something of the country\u2019s independence would endure.<\/strong><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

\u00a0<\/b><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

What Happens When You Hand Over Your Gold To The Bank Of England For “Safekeeping”   \u201cThe Bank for International Settlements is the bank which sanctions the most notorious outrage of this generation\u2014 the rape of Czechoslovakia.\u201d \u2014 George Strauss, Labor MP, speaking in the House of Commons, May 1939 \u201cthe Bank for International Settlements […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1733,56,1269,3756,3763,359,374,5108,862],"class_list":["post-7761","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-for-international-settlements","tag-bank-of-england","tag-bis","tag-boe","tag-czechoslovakia","tag-germany","tag-gold","tag-nazi-germany","tag-war"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7761"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7761\/revisions"}],"predecessor-version":[{"id":7762,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7761\/revisions\/7762"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}