The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

Prepare for collapse.


bis-bank-for-international-settlements-basel-switzerland

The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming (Economic Collapse, July 13, 2014):

Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization.  He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017.  The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system.  So when Jaime Caruana speaks, people should listen.  And the fact that he recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells.  Speaking of the financial markets, Caruana ominously declared that “it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally” and he noted that “markets can stay irrational longer than you can stay solvent”.  In other words, he is saying what I have been saying for so long.  The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.

So why would the head of ‘the central bank of the world’ choose this moment to issue such a chilling warning?

Does he know something that the rest of us do not?

According to a recent article in the Telegraph by Ambrose Evans-Pritchard, Caruana is extremely concerned about rising debt levels and the current level of euphoria in the financial markets…

The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.

Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.

“Markets seem to be considering only a very narrow spectrum of potential outcomes. They have become convinced that monetary conditions will remain easy for a very long time, and may be taking more assurance than central banks wish to give,” he told The Telegraph.

Mr Caruana said the international system is in many ways more fragile than it was in the build-up to the Lehman crisis. Debt ratios in the developed economies have risen by 20 percentage points to 275pc of GDP since then.

And you know what?

Caruana is certainly correct to be warning us about these things.

As I have written about previously, the total amount of government debt in the world has grown by about 40 percent since the last recession, and the “too big to fail banks” have collectively gotten 37 percent larger since that time.

The U.S. national debt has grown from about 10 trillion dollars to more than 17.5 trillion dollars, and even the Bank for International Settlements admits that the global derivatives bubble has grown to at least 710 trillion dollars.

The massive financial imbalances that we were facing during the last crisis have not been fixed.  Instead, they have gotten much, much worse.

But should we trust the Bank for International Settlements?

Of course not.

This is a very secretive organization that very few people know about but that possesses absolutely enormous power.  The following is a brief overview of the Bank for International Settlements from one of my previous articles entitled “Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does“…

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe.  It is called the Bank for International Settlements, and it is the central bank of central banks.  It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that “it is not accountable to any single national government.”  The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system.  Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does.  Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”.  During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on.  The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.

The role that the Bank for International Settlements is playing today was envisioned by the global elite long ago.  In another previous article, I quoted from a book that Georgetown University history professor Carroll Quigley wrote in 1975 entitled “Tragedy & Hope” in which he discussed how the BIS was to one day become “the apex” of the global financial system…

[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.

And it is interesting to note that Professor Quigley was not against the system that the elite were setting up.  He was just an academic that was trying to accurately convey what he had learned about how the global system works.

Sadly, the system that Quigley wrote about all the way back in 1975 has fully blossomed today.

Every two months, the central bankers of the world travel to Switzerland for “Global Economy Meetings” in Basel.  Most people have never heard of them, but these Global Economy Meetings were actually discussed in the Wall Street Journal

Every two months, more than a dozen bankers meet here on Sunday evenings to talk and dine on the 18th floor of a cylindrical building looking out on the Rhine.

The dinner discussions on money and economics are more than academic. At the table are the chiefs of the world’s biggest central banks, representing countries that annually produce more than $51 trillion of gross domestic product, three-quarters of the world’s economic output.

So how do you feel about the fact that the central bankers of the world regularly gather to plot their next moves for the global economy?

Should an unelected group of central bankers that has no accountability to any national government really have so much power?

Please feel free to share what you think by posting a comment below…

4 thoughts on “The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

  1. Those who have the money have the most autonomy. This has been the rule since the advent of money as a mode of trade. I think we were better off trading goods for good, the insane quest for money has corrupted everything.
    What happens when you run out of money? You had better die, because you will not survive. Money has become the motive, not just the mode of trade. All is for money. Without money, you better have a plan for your own demise because it has become the goal and desire, replacing trade.
    We have such a shortage of time before our friends and business associates die or disappear. One day, you wake up, and you are alone. Nobody with whom to share your memories or build anything with……..everyone has vanished.
    These silent men who control hundreds of millions speak, and all stop and listen to them as if they are the oracles of old………..God only knows what they do, and how they multiply their wealth. Nobody asks probing questions, they don’t dare. Excessive wealth gives these somewhat invisible men incredible power; people treat them as if they are gods.
    Money has turned from a method of trade to a great social evil. What makes these invisible men so knowledgeable? Their money, nothing more. They can be just as wrong as anyone else, but people look to these people as some to their religious figures, as infallible.
    I agree with a friend of mine who teaches at UCLA…..money is a man made evil.

  2. Do elected “representatives” answer to anyone – certainly not the public? They spend; the bankers create debt/interest. The left hand washes the right. The public doesn’t care anyway – at least en masse. It’s a bit of a conundrum…..

  3. Rereading the article, I saw this group controls $51 trillion, better than two thirds of the entire world annual GDP. I guess world GDP is still estimated at $65-70 trillion……..
    I cannot help but wonder how much of that money is leveraged. The way banks keep their books these days is beyond anything my late grandfather would have understood. He spoke eight languages, served as an interpreter in WWI for the allied forces and became the man in the bank to handle international funds. He never left the bank until the final penny was accounted for, then he would get on the train from San Francisco to San Mateo where he lived in a modest 3 bedroom, one bath house. He would not approve or understand the bankers of today…….
    Bankers of depression era and post era days were very careful, and they were a different breed than the arrogant ones we now suffer with.
    I have to ask this question. If they leverage everything, what stops them from leveraging world GDP totals? They model they follow is to take $100 million, and leverage it into $100 Billion, 1000 – 1. If they are doing this with our annual GDP of the world, how much is the world GDP really worth?
    I leave this to my mathematical friends to figure……I am not that skilled in that field. But, it is a question that ought to be asked and investigated.

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