Wednesday, April 14, 2010

Poland: Central Bank Profits Dispute Pt 2

Poland's Central Bank dispute had become an "open conflict"

"This completely changes the dynamics between the bank and the government in the dispute over what to do with the central bank's profits," said an emerging markets analyst at a foreign institution, who asked not to be named.

In the long term, the replacement of Skrzypek (who died in the crash) is likely to ease a tense relationship between the central bank and the government, and between the central bank governor and other members of the Monetary Policy Council.

In particular, Skrzypek's replacement may end a conflict over the government's demand that the central bank hand over as much as 8 billion zlotys ($2.8 billion) in last year's earnings to the state coffers to help cover the budget deficit.
March 25th/2010
Initially, the bank said it was not sure whether there would be any profit at all. Later, president Sławomir Skrzypek said there would be, but not more than zł.4 billion.

The RPP is accusing NBP managers of trying to get away with paying as little as possible into the budget.

This bitter public row saw the majority of the council set against the bank governor
The dispute split along the lines of who, had been appointed by whom to the Council.

Six members including Andrzej Bratkowski, Elzbieta Chojna-Duch, Jerzy Hausner, Andrzej Rzonca, Jan Winiecki and Anna Zielinska-Glebocka -- were appointed with the support of Prime Minister Donald Tusk (now empowered)
Slawomir Skrzypek (deceased bank governor) and three others Kazmierczak, Zyta Gilowska and Adam Glapinski were appointed by Lech Kaczynski (deceased President)

Make of it what you will!


  1. Great research Pen, keep it up!

    To me, it looks as if (as usual) the looters were ready before the disaster struck . . .

  2. Ok so I'll throw another stick into the fire. Penn why don't you check up on the W.H.O's interests in Poland? It seems to me that they had as much to lose as anyone if the Polish Government stayed as it was.

  3. thanks for the tip silv, working on and have marked some stuff.

    I will be back to that later

  4. Penny, I haven't been following this episode but I would like to catch up on it and take a short cut, if I may.

    Can you tell me if the list of passengers included any senior catholic church officials and if the catholicism or otherwise of the main characters (such as heads of the military and central bank) has been mentioned in the press? Indeed, any mention of the catholic church in all this?

  5. The mass that was going to be conducted in Russia was a Catholic mass, and there is mention that the President was Catholic.

    Not much else, though.

    Any thoughts you wish to share.
    I have come across something interesting wrt Poland..

  6. Penny, you asked, Any thoughts you wish to share.

    I posted this in answer to questions over at

    McJ, Sally,
    the big winners from Solidarity's win over the communists were the Catholic Church and the CIA, the two backers of movement. They promptly took over and in many ways the Poles were worse off than before. Moral - choose your allies exceedingly carefully. Your enemy's enemy is not necessarily your friend.
    The RCC has long harboured a desire to re-establish it's Holy Roman Empire in Eastern Europe and Poland is the Jewel in the Crown of that little plan. (I believe it was the RCC's main reason for it's involvement with Nazi Germany during WW2 and then US/CIA afterwards)

    So now they have Poland and into the bargain, Poland has a government controlled central bank. So now this central bank has been instrumental in improving Poland's economy while everywhere else is going backwards in Europe by going against the other nations' (jewish owned) central banks actions, as far as I can tell.

    Critically, both the deceased president and the head of the Central Bank were against adopting the Euro currency. Presumably they (and the Catholic Church) saw they would lose their sovereignty. So is the RCC going to hand control over their Jewel to the Jewish Bankers? Especially since these bankers have made it more than plain that the RCC is not included in the hoped for NWO. I don't think so.

    Are the Jewish Bankers going to sit back and cop this? Accept that their OWC plans are now down past the S bend? I don't think so, either.

    A gridlock breaking move is needed here. Whoa . . . . did anybody see that flash over there by the airport?

    Check out Penny's and Twelfthbough for a some recent articles and links. Plus this from Aangirfan