You know banks Such as Citibank, Bank of America, Wells Fargo, etc.. But do you know the Bank for International Settlements (BIS). By controlling international exchange of currency and money, the BIS will move a long way toward deciding the economic situation in any particular country. Keep in Mind that the next time Ben Bernanke or European Central Bank President Jean-Claude Trichet announces an interest rate hike. You can bet it didn’t occur without the concuncus of the BIS Board.
However, in the long run, how you feel about the BIS can come down to how you’re feeling about a one-world money. The bank was a major player promoting the adoption of the euro as Europe’s common currency. There are rumors that the next job is persuading the U.S., Canada and Mexico to change to a similar joint currency, possibly to be called the “amero,” and it’s logical to assume that the lender’s ultimate objective is one world one single currency. That would simplify transactions and actually solidify the lender’s management of the planetary economy.
Maybe we would feel better about the BIS if it had more transparency, but most importantly about it, like its bi-monthly board meetings, is shrouded in secrecy. And maybe more worrisome is that the BIS is absolutely free of supervision. By rights given under its agreement with the Swiss Federal Council, all of the bank’s archives, documents and “any data media “are all “inviolable at all times and at all areas.” What’s more, employees and officials of BIS “enjoy immunity against criminal and administrative authority, to the extent that such resistance is officially waived … even after these individuals have ceased to be officials of the Bank.” In the end, zero claims against BIS or its officials could be enforced “without the prior agreement of the Bank.”
The BIS is headquartered is in Basel, Switzerland. It was established in 1929, for the role of overseeing reparation payments owed by Germany because of the Treaty of Versailles that ended World War I. It’s been growing ever since, along with its assignments.
Therefore, what does the BIS do these days? According to the bank’s site, “BIS … fosters international monetary and financial cooperation and serves as a bank for central banks … by acting as: a forum for debate and decision for the central banks and within the global financial and supervisory community; a center for economic and financial analysis; a prime counterpart for central banks in their financial transactions; along with agent or trustee in connection with international financial operations”
The creators had been the central banks of Belgium, France, Germany, Italy, Japan and the U.K., they all got an identical number of stocks. and even the U.S. Federal Reserve was not an original shareholder; however, three American banks (J. P. Morgan, First Bank of New York, First Bank of Chicago) each got the identical number of shares, giving the U.S. three times the voting power from the beginning.
It accomplishes its businesses through management of currencies. It currently holds 7 percent of the planet’s available foreign exchange money, whose unit account was switched in March of 2003 from the Swiss gold franc to Special Drawing Rights (SDR), an artificial fiat “money” using a value based on a basket of currencies (44 percent U.S. buck, 34% euro, 11 percent Japanese yen, 11 percent sterling).
Obviously, this bank wields a lot of power on a global scale. But are they good guys or bad guys? In their own estimation, unsurprisingly, they’re the white hats. They operate to prevent madness and, as they put it, speech “imbalances” in the increasingly interconnected global financial market. They prevent panics and currency meltdowns when they can.
This is what occurred throughout the Brazilian terror of 1998, if the IMF, courtesy of American workers, bailed that country out. Not only, our taxpayers were unaware what they were mainly doing was subsidizing the big American banks (Citigroup, J. P. Morgan Chase and FleetBoston one of them), which had made a lot of risky loans and didn’t feel like paying a penalty for their mistakes.
A banker’s bank, the BIS does no immediate business with people, authorities, or corporate entities. On the contrary, it deals exclusively with member nations’ central banks (most of which are privately owned). You will find 55 of them presently, and the list includes every central bank of consequences on the planet.
Putting it succinctly: “Promoting financial and fiscal stability is one crucial objective of the BIS,” though it would probably be more accurate to call that that the key objective. The bank sees as its main endeavor the stabilization of world monetary markets.
Management’s internal circle is obviously the Board of Directors. There are just six ex officio (i.e., permanent) members, the central bank governors of Belgium, France, Germany, Italy, and also the U.K., plus the chairman of the Fed. These six appoint others of their own nationality, and then there can be up to nine more elected members (there are just five at the moment, representing Canada, Japan, the Netherlands, Sweden and Switzerland). Ben Bernanke has so just replaced Alan Greenspan as the U.S.’s ex officio rep, and also his named American sidekick has been New York Bank’s President Timothy Geithner.
In other words they could do anything they desire, without consequences. What is this for a leak-proof lawful umbrella?
The bank also controls a huge quantity of gold, making it both shops and lends out, giving it great leverage over the metal’s price and the marketplace power that attracts, since gold remains the only universal currency. BIS gold reserves were listed on its 2005 annual report (the latest) since 712 tons. The way breaks down to member banks’ deposits and also the BIS private stash is not unknown.
Will the day come when the ground is saturated with fiat “globes?” We sincerely hope not. And, like the current transnational rush to turn paper into gold indicates, the current market is beginning to concur with us.
Another negative is that the BIS can collaborate with governments on trades that said authorities would rather keep out of the public opinion. For example, U.S. taxpayer monies can be passed through the BIS to the IMF and from there anywhere. Basically, the BIS launders the money, as there’s not any particular accounting of where particular residue came from and where they went.
In other words, it helps central banks construct and execute financial policy decisions, in concert together. And it acts as a third party in transactions, easing the circulation of money and other monetary instruments, such as gold.
All members have been owners and also have voting rights, in proportion to the amount of shares they have. (Personal citizen possession was initially permitted and included about 14 percent of shares outstanding, but in 2001 all those were bought from the central banks.) We were unable to pin down the specific present share arrangement, but it can be presumed that the founding members have the most clout.
Does this have any relations to cryptocurrencies
Yes it does, this is an example of how our current monetary system in a way is legally corrupt, And unless the BIS have brought up a lot of cryptocurrencies they can that influence the market they do have the monetary power to influence the market for cryptocurrencies, and furthermore cryptocurrencies represents a problem for them In the same way that cryptocurrencies represent a problem for central Banks. It is the beginning of a monetary system where they do not have control, they can not fiddle with the numbers if need be. And it is my belief that the BIS To put pressure on government to place rules so they can easily remain in control even if we should a society shift our currencies to cryptocurrencies, And I do hope that they are smart in a way where they have seen cryptocurrencies can be the future and they need to be in on it, instead of pressuring governments to ban it.
We have in the last year seen a lot of bans in cryptocurrencies, but we have also seen regulations and then country were the BIS Seems to have a great deal of power Greece EU regulations instead of outright ban. it is countries where BIS do not seem to have a lot of power when we see outright bands of cryptocurrencies. and example is Japan will there really keen on cryptocurrencies especially Bitcoin and this is a country where the BIS have a lot of pull. so they might actually be good for the future of cryptocurrencies and some conspiracy theorist might now he’s sitting contemplating if bitcoin is over the creation of the Bank for International Settlements, And I would love to put it past them but I don’t think it’s that likely.
and please share what you think of such a powerful bank of which we see so little in the comments below, I am looking forward to reading your input and maybe even do a follow-up someday.
I have a background in cryptocurrencies I have been into the cryptocurrency game since 2011