The story of the Belgian Central Bank during the past 25 years has been one
of brainwashing, desinformation, expropriation through unauthorised transfers of
billions of euros and clear deception. The government and the directors of the
Belgian Central Bank wanted the public to believe that the Belgian Central Bank
was the property of the Treasury and that the minority shareholders were not
holding equity but consumer price index related bonds. And……. They almost
Myself, as a professional financial advisor, I published an
article in 1992, it was titled “Quo Vadis National Bank”. In this article I told
the readers that the National Bank equity was a good investment but that the
gold and currency reserves belonged to the government and that investors should
look at this investment as a CPI related bond. In the years that followed I
repeated my buy recommondation many times but each time with the warning that
the gold and currency reserves belonged to the Treasury.
So I repeated
to my clients what the government told me, it sounded reasonable to me and I had
no reason to question what all those important people told the citizens of this
country. I trusted my government. Should a government not be trusted by the
people who elected them?
Until the National Bank started transfering
billions to the Treasury. This was very strange. In countries like France and
Germany, where the Central Banks were fully owned by the government, the banks
refused to transfer capital to the government, allways stating that they were
fully independant and that it was not in the interest of the citizens that
reserves were transfered to greedy politicians. In Belgium, where 50% of the
shares of the Central Bank were listed on the stock exchange, the Bank
transfered billions to the Treasury?!? At this point I started digging into this
matter and it took quite some time before I believed what I found out. The
stories I was told, made no sense and the government and the Bank were violating
all the rules I could imagin.
In France king Louis XIV said “l’Etat,
c’est moi”, he placed himself above the law and this attitude lead to the French
In Belgium the government said “The National Bank is ours”,
the government placed its own short term interest above the fundamental rights
of the shareholders, it resulted in the uprising of the small shareholders.
Erik Geenen - August 26, 2005.