CBDC work advances globally

Embracing diversity, advancing together - results of the 2023 BIS survey on central bank digital currencies and crypto

BIS Papers | No 147 |

 
14 June 2024

by Alberto Di Iorio, Anneke Kosse and Ilaria Mattei

PDF full text
(964kb) | 39 pages

Ninety-four percent of surveyed central banks are exploring a central bank digital currency (CBDC). The survey suggests that central banks are proceeding at their own speed, taking diverse approaches and considering different design features. Over the course of 2023, there has been a sharp uptick in experiments and pilots with wholesale CBDCs – mainly in advanced economies (AEs), but various emerging market and developing economies (EMDE) also stepped up their wholesale CBDC work. Overall, the likelihood that central banks will issue a wholesale CBDC within the next six years now exceeds the likelihood that they will issue a retail CBDC. Central banks further enhanced their engagement with stakeholders to inform CBDC design. Many CBDC features are still undecided. Yet, interoperability and programmability are often considered for wholesale CBDCs. For retail CBDCs, more than half of central banks are considering holding limits, interoperability, offline options and zero remuneration. Differences exist between AEs and EMDEs, for example with respect to the potential use of a distributed ledger and transaction limits. On crypto, the survey indicates that, to date, stablecoins are rarely used for payments outside the crypto ecosystem. Moreover, about two out of three responding jurisdictions have or are working on a framework to regulate stablecoins and other cryptoassets.

JEL classification: E42, E58, O33

Keywords: central bank digital currencies, CBDC, digital innovation, cryptoassets, stablecoins, cross-border payments, interoperability, financial stability, regulation

Source

Karen Hudes - World Bank in Collusion with the Jesuits.

the jesuits' jungle

Published on Oct 30, 2013

The Federal Reserve and the Bank for International Settlements are in collusion with the biggest crooks of all, the Jesuits, who "bought out" Bank of America and they have secret deals to apportion to themselves the riches of the world, says Karen Hudes (time 3:44 in video). Ms. Hudes is a former senior counsel for the World Bank who was fired for being a whistleblower.
http://beforeitsnews.com/watercooler-...

She also says that the IRS revenue goes to the Vatican.
Here at: 12:28

Source: Greg Hunter' channel
http://www.youtube.com/watch?v=gHVgRg...

Karen Hude's website http://kahudes.net/

'Dollar About to Crash',
170,000 Tons of Gold Held in Secret Hawaii Vault
-- World Bank Whistleblower
http://www.silverdoctors.com/dollar-v...

Very informative article.
World Bank Whistleblower Karen Hudes
Reveals How The Global Elite Rule The World
http://theeconomiccollapseblog.com/ar...\

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Bank For International Settlements (BIS): How The Rothschilds Control And Dictate To The World

March 22, 2010



By William Dean A. Garner - BLN Contributing Writer

For decades, people have urged me, pushed me, prodded me, practically peeled off my skin, pulled out my eyes, and yanked out my brain to prove it, i.e. show them the data, the results, the books, manuals, pamphlets, journals, monographs, voice and video recordings, all the resources I have used to make the statements I do about the Brzezinski Cartel and the Rothschilds.

On the evening of St. Patrick’s Day 2010, I feel now is the time . . . but with a twist.

The list below shows 165 different ways how The First Sphere of Influence (Rothschilds and Brzezinski Cartel) controls the world. One hundred and sixty-five reasons to believe what I say to be 100% accurate and true.

Each entry is a separate and distinct central bank, located in a separate and distinct part of the world. These central banks cover the globe and know absolutely no boundaries, effectively erasing borders between even sworn enemies.

The BIS (pronounced BIZZ) is the Rothschild’s piggy bank, a veritable deep-pit mine, the equivalent of quadrillions of dollars.

quadrillion quad·ril’lion adj.

The cardinal number equal to 1015.
Chiefly British. Septillion.

What’s the significance of having a central bank within a country and why should you concern yourself, your family and colleagues?

Central banks are illegally created PRIVATE banks that are owned by the Rothschild banking family. The family has been around for more than 230 years and has slithered its way into each country on this planet, threatened every world leader and their governments and cabinets with physical and economic death and destruction, and then emplaced their own people in these central banks to control and manage each country’s pocketbook. Worse, the Rothschilds also control the machinations of each government at the macro level, not concerning themselves with the daily vicissitudes of our individual personal lives. Except when we get too far out of line.

The grand plan of The First Sphere of Influence is to create a global mononation. Please do not confuse this with the term globalization. Mononation and globalization couldn’t be more different in concept, scope and purpose. Mononation is one state. It has one government. One set of laws for all ordinary citizens, no laws for the elite. Globalization refers to communicating, trading, interacting, etc. among separate, different, independent, sovereign countries.

The grand plan of The First Sphere of Influence is to create a global mononation.
Our own Federal Reserve is an illegally emplaced private bank that is directly responsible for creating all the US’s depressions, recessions, and the inflation and deflation of our dollar. The Fed controls the printing of our own currency, and then charges the US government interest on those loans. The interest is growing each year, making it difficult if not impossible for our government to pay it. How do we pay this interest? By the US Personal Income Tax. This tax goes to the Rothschild family.

In the coming months, as I continue to gather intel and write a book about The First Sphere of Influence, I will share more and more. For now, I kindly ask that you read each of the 165 lines below. One hundred and sixty-five reasons to believe my intel. You can click on each bank and visit its website. I’ve seen each one. They’re real. And they’re one of the reasons why each country is in such deep debt to this insidious family, the Rothschilds.

By the way, if you’re curious what the US debt is to the BIS, please refer to the table at the end of this article, taken from the latest statistical results provided by the Joint External Debt Hub, which receives data from the BIS, International Monetary Fund, World Bank, and the Organization for Economic Cooperation and Development.

BIS Offices

Representative Office for Asia and the Pacific
78th floor, Two International Finance Centre
8 Finance Street, Central
Hong Kong
Special Administrative Region of the People’s Republic of China
Telephone: (+852) 2878 7100
Fax: (+852) 2878 7123

Representative Office for the Americas
Torre Chapultepec
Rubén Darío 281 – 17th floor
Col. Bosque de Chapultepec
Del. Miguel Hidalgo
11580 México, D.F.
México
Telephone: (+52) 55 91380290
Fax: (+52) 55 91380299

The Rothschild-Owned Central Banks of the World

Afghanistan: Bank of Afghanistan
Albania: Bank of Albania
Algeria: Bank of Algeria
Argentina: Central Bank of Argentina
Armenia: Central Bank of Armenia
Aruba: Central Bank of Aruba
Australia: Reserve Bank of Australia
Austria: Austrian National Bank
Azerbaijan: Central Bank of Azerbaijan Republic
Bahamas: Central Bank of The Bahamas
Bahrain: Central Bank of Bahrain
Bangladesh: Bangladesh Bank
Barbados: Central Bank of Barbados
Belarus: National Bank of the Republic of Belarus
Belgium: National Bank of Belgium
Belize: Central Bank of Belize
Benin: Central Bank of West African States (BCEAO)
Bermuda: Bermuda Monetary Authority
Bhutan: Royal Monetary Authority of Bhutan
Bolivia: Central Bank of Bolivia
Bosnia: Central Bank of Bosnia and Herzegovina
Botswana: Bank of Botswana
Brazil: Central Bank of Brazil
Bulgaria: Bulgarian National Bank
Burkina Faso: Central Bank of West African States (BCEAO)
Burundi: Bank of the Republic of Burundi
Cambodia: National Bank of Cambodia
Cameroon: Bank of Central African States
Canada: Bank of Canada - Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Central African Republic: Bank of Central African States
Chad: Bank of Central African States
Chile: Central Bank of Chile
China: The People’s Bank of China
Colombia: Bank of the Republic
Comoros: Central Bank of Comoros
Congo: Bank of Central African States
Costa Rica: Central Bank of Costa Rica
Côte d’Ivoire: Central Bank of West African States (BCEAO)
Croatia: Croatian National Bank
Cuba: Central Bank of Cuba
Cyprus: Central Bank of Cyprus
Czech Republic: Czech National Bank
Denmark: National Bank of Denmark
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
Ecuador: Central Bank of Ecuador
Egypt: Central Bank of Egypt
El Salvador: Central Reserve Bank of El Salvador
Equatorial Guinea: Bank of Central African States
Estonia: Bank of Estonia
Ethiopia: National Bank of Ethiopia
European Union: European Central Bank
Fiji: Reserve Bank of Fiji
Finland: Bank of Finland
France: Bank of France
Gabon: Bank of Central African States
The Gambia: Central Bank of The Gambia
Georgia: National Bank of Georgia
Germany: Deutsche Bundesbank
Ghana: Bank of Ghana
Greece: Bank of Greece
Guatemala: Bank of Guatemala
Guinea Bissau: Central Bank of West African States (BCEAO)
Guyana: Bank of Guyana
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Hong Kong: Hong Kong Monetary Authority
Hungary: Magyar Nemzeti Bank
Iceland: Central Bank of Iceland
India: Reserve Bank of India
Indonesia: Bank Indonesia
Iran: The Central Bank of the Islamic Republic of Iran
Iraq: Central Bank of Iraq
Ireland: Central Bank and Financial Services Authority of Ireland
Israel: Bank of Israel
Italy: Bank of Italy
Jamaica: Bank of Jamaica
Japan: Bank of Japan
Jordan: Central Bank of Jordan
Kazakhstan: National Bank of Kazakhstan
Kenya: Central Bank of Kenya
Korea: Bank of Korea
Kuwait: Central Bank of Kuwait
Kyrgyzstan: National Bank of the Kyrgyz Republic
Latvia: Bank of Latvia
Lebanon: Central Bank of Lebanon
Lesotho: Central Bank of Lesotho
Libya: Central Bank of Libya
Lithuania: Bank of Lithuania
Luxembourg: Central Bank of Luxembourg
Macao: Monetary Authority of Macao
Macedonia: National Bank of the Republic of Macedonia
Madagascar: Central Bank of Madagascar
Malawi: Reserve Bank of Malawi
Malaysia: Central Bank of Malaysia
Mali: Central Bank of West African States (BCEAO)
Malta: Central Bank of Malta
Mauritius: Bank of Mauritius
Mexico: Bank of Mexico
Moldova: National Bank of Moldova
Mongolia: Bank of Mongolia
Montenegro: Central Bank of Montenegro
Morocco: Bank of Morocco
Mozambique: Bank of Mozambique
Namibia: Bank of Namibia
Nepal: Central Bank of Nepal
Netherlands: Netherlands Bank
Netherlands Antilles: Bank of the Netherlands Antilles
New Zealand: Reserve Bank of New Zealand
Nicaragua: Central Bank of Nicaragua
Niger: Central Bank of West African States (BCEAO)
Nigeria: Central Bank of Nigeria
Norway: Central Bank of Norway
Oman: Central Bank of Oman
Pakistan: State Bank of Pakistan
Papua New Guinea: Bank of Papua New Guinea
Paraguay: Central Bank of Paraguay
Peru: Central Reserve Bank of Peru
Philippines: Bangko Sentral ng Pilipinas
Poland: National Bank of Poland
Portugal: Bank of Portugal
Qatar: Qatar Central Bank
Romania: National Bank of Romania
Russia: Central Bank of Russia
Rwanda: National Bank of Rwanda
San Marino: Central Bank of the Republic of San Marino
Samoa: Central Bank of Samoa
Saudi Arabia: Saudi Arabian Monetary Agency
Senegal: Central Bank of West African States (BCEAO)
Serbia: National Bank of Serbia
Seychelles: Central Bank of Seychelles
Sierra Leone: Bank of Sierra Leone
Singapore: Monetary Authority of Singapore
Slovakia: National Bank of Slovakia
Slovenia: Bank of Slovenia
Solomon Islands: Central Bank of Solomon Islands
South Africa: South African Reserve Bank
Spain: Bank of Spain
Sri Lanka: Central Bank of Sri Lanka
Sudan: Bank of Sudan
Surinam: Central Bank of Suriname
Swaziland: The Central Bank of Swaziland
Sweden: Sveriges Riksbank
Switzerland: Swiss National Bank
Tajikistan: National Bank of Tajikistan
Tanzania: Bank of Tanzania
Thailand: Bank of Thailand
Togo: Central Bank of West African States (BCEAO)
Tonga: National Reserve Bank of Tonga
Trinidad and Tobago: Central Bank of Trinidad and Tobago
Tunisia: Central Bank of Tunisia
Turkey: Central Bank of the Republic of Turkey
Uganda: Bank of Uganda
Ukraine: National Bank of Ukraine
United Arab Emirates: Central Bank of United Arab Emirates
United Kingdom: Bank of England
United States: The Dirty Nasty Stinky Fed, Federal Reserve Bank of New York
Uruguay: Central Bank of Uruguay
Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela
Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe

Joint BIS-IMF-OECD-World Bank Statistics on United States’ External Debt (in Millions US$)
2008Q4 2009Q2 2009Q3 2009Q4
a. Loans and other credits
01_Cross-border loans from BIS reporting banks 3,707,538 3,388,795 3,530,286 ..
02_Cross-border loans from BIS banks to nonbanks 1,363,191 1,337,188 1,330,606 ..
03_Official bilateral loans, total .. .. .. ..
04_Official bilateral loans, aid loans .. .. .. ..
05_Official bilateral loans, other .. .. .. ..
06_Multilateral loans, total .. .. .. ..
07_Multilateral loans, IMF 0 0 0 0
08_Multilateral loans, other institutions .. .. .. ..
09_Official trade credits, total, all maturities .. .. .. ..
10_Official trade credits, nonbanks, all maturities .. .. .. ..
101_SDR allocation 7,547 7,605 55,953 55,364
b. Debt securities
11_International debt securities, all maturities 5,275,668 5,849,272 5,937,740 6,034,582
12_International debt securities, nonbanks 3,540,768 4,074,795 4,174,716 4,259,775
13_International debt securities, Brady bonds .. .. .. ..
c. Supplementary information:
14_Insured export credit exposures, Berne Union 99,113 100,938 102,692 104,039
15_Insured export credit exposures short term (BU) 61,873 58,664 60,227 56,901
16_Debt securities held by nonresidents 4,866,185 .. .. ..
161_Paris Club claims (ODA) .. .. .. ..
162_Paris Club claims (non ODA) .. .. .. ..
d. Loans and other credits (Debt due within a year)
17_Liabilities to BIS banks (cons.), short term 1,074,620 981,718 892,617 ..
18_Official bilateral loans, total, short term .. .. .. ..
19_Official bilateral loans, aid, short term .. .. .. ..
20_Official bilateral loans, other, short term .. .. .. ..
21_Multilateral loans, IMF, short term .. .. .. ..
22_Official trade credits, nonbanks, short term .. .. .. ..
e. Debt securities (Debt due within a year)
23_International debt securities, short term 856,968 850,176 888,271 871,759
24_Intnl debt securities, nonbanks, short term 481,950 491,997 529,169 514,819
f. Memorandum items –selected foreign assets/liabilities
25_International reserves (excluding gold) 66,607 70,448 123,255 119,719
251_SDR holdings 9,340 9,437 57,945 57,814
26_Portfolio investment assets 4,267,865 .. .. ..
27_Cross-border deposits with BIS rep. banks 3,752,843 3,846,483 3,973,186 ..
28_Cross-border dep. with BIS banks, nonbanks 1,802,268 1,628,098 1,716,537 ..
29_Liabilities to BIS banks, locational, total 5,289,063 4,917,133 5,078,389 ..
30_Liabilities to BIS banks, consolidated, total 2,761,479 2,680,326 2,590,003 ..
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ABOUT THE AUTHOR: William Dean A. Garner is a New York Times bestselling ghostwriter and editor of many fiction and nonfiction books. A former biophysicist, US Army Airborne Ranger, and Corporate Mercenary, Garner did 211 overseas missions over a nine-year period, escorting clients out of hostile territories so they could have a voice of peace, freedom and liberty. He writes and speaks about the dangers of The First Sphere of Influence, a global cartel controlled by the family Rothschild.
http://thatsjustplumdumb.com/index.php/2010/03/bank-for-international-settlements-bis-how-the-rothschilds-control-and-dictate-to-the-world/


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BIS Calls for Hyperinflationary Depression?

Monday, December 12, 2011 – by Staff Report

The Bank for International Settlements Sunday issued an oblique endorsement of coordinated action by the world's largest central banks to ease funding conditions for banks. "A freezing of interbank markets in major funding currencies, as during the recent crisis, may require the ability to supply official liquidity in major currencies in an elastic manner," the BIS wrote in its regular quarterly report." – MarketWatch

Dominant Social Theme: Inflate! And everything will work out.

Free-Market Analysis: We've already indicated that we believe the Anglosphere power elite is attempting to create a kind of Great Depression in order to ease the path of world government. This squib of an article in MarketWatch (excerpted above) – unnoticed by most of the mainstream press – only reconfirms our impression.

It endorses recent "coordinated" central banking loosening. But it does more: "A freezing of interbank markets in major funding currencies, as during the recent crisis, may require the ability to supply official liquidity in major currencies in an elastic manner."

Think about that. The BIS, whatever it is, is all for printing lots of money. And the BIS is no small-time trade group. It is perhaps the most powerful (and least known) global business body in the world. Its mysteries are manifold. its workings are well-hidden.

Of course, somebody actually set up the Bank for International Settlements in the late 1930s. And since then someone has set up or helped set up about 200 central banks around the world, many of them reporting directly to the BIS.

But who? And how did it happen? Dunno.

Who speaks to the head of a state, asking him or her to set up a central bank? Dunno. Do you?

Why is that Libya, Afghanistan and Iraq have central banks when they didn't before, or not the kind they do now? Did you read about it?

Meh ... this ruinous financial system is not a plant or a tree. It did not grow spontaneously. It did not grow naturally. And we would submit to you that those who created it know what they're doing.

The key as always is to pretend that one does NOT know. The key is to create cognitive dissonance. Even today, if you asked the average person-on-the-street if the powers-that-be are trying to create a Depression (let alone a hyperinflationary one), you would get the ol' crazy look, as in ... "What is this fellow ... nuts?"

But, no, nothing nutty about it. The European Union and the euro are grinding a whole European generation into dust. China's burgeoning middle class is about to get walloped if China ends up in a proverbial hard landing, as well it might. The US has NEVER recovered from the disaster of the mid-2000s (first decade) nor shall it for the foreseeable future.

Into this morass steps the BIS, with its suggestion (above) that further monetary inflation is the only viable solution to the problem that central banking itself has created.

Smile ... and nod! Don't acknowledge the reality that the ruin is a central banking ruin. The monetary decay is the result of a monopoly fiat. The great dollar expansion yet to come is also a direct outcome of the current system that was put in place after World War II.

No, it's not hard to discern what's going on if one simply disassociates oneself from the endless nattering of the mainstream media. Analyze what IS instead of what is SUGGESTED and the reality shall gradually become clear.

DB's manifestly accurate High Alert (published some four years ago now) was written because we were tracking what was actually happening to the world's economy instead of what was being reported ....

A financial hurricane is washing over America and, to a lesser extent, the entire West. To label it the "downstroke" of a super business cycle does not do it justice. These events occur in cycles, with the last one taking place in the 1970s — a mild storm compared to what is occurring today. ...

A strong inflation, even a soft hyperinflation, already has a grip on Western currencies, most notably in the United States — as anyone who buys groceries is aware. The dollar's plunge may be delayed by a kind of "race to the bottom" as other central banks adjust their currencies to reflect the weakness of the dollar. ...

In his "Great American Depression," free-market economist Murray Rothbard explains the ramifications of hyperinflation as follows: "Hyperinflation, on any count, is far worse than any depression: It destroys the currency — the lifeblood of the economy; it ruins and shatters the middle class and all fixed income groups; it wreaks havoc unbounded. And furthermore it leads finally to unemployment and lower living standards since there is little point in working when earned income depreciates by the hour."

(You can read the full book online here.)

THIS is what the BIS seems to have in mind. This is the fate that has been decreed, apparently, by those who want to crush middle classes around the world in order to create a "new world order." Out of chaos ... order. It is quite clear. Follow what IS rather than what you are being TOLD.

The BIS wants to inflate. it ENDORSES inflation. The proximate cause is the unraveling of the current financial system. But it is "their" system. They made it. They watched it rise and fall. It was obvious that it could not end in anything other than a massive contraction and perhaps hyperinflation.

The contraction – incipient Depression – has already taken place. Best case, the powers-that-be would stop trying to prop up failing markets and let the downturn have its way as quickly as possible. This they will not do. Instead, the next phase of an increasingly horrific scenario is about to unfold.

Rather than let the market alone, the elites are apparently readying massive central bank monetary inflation around the world. That's the real message of this innocent little squib of an article, so far as we can tell.

The BIS, in its inoffensive way, is signaling that the current level of disaster and despair is not good enough. The agony is not sufficient. The new world order is to be birthed on the graves of millions, and nothing but hyperinflation (and/or war) will produce the sufficient level of chaos. Here's some more from the article:

The U.S. Federal Reserve 10 days ago agreed to expand, and reduce the cost of, multilateral swap lines with five other large central banks, notably the European Central Bank, in an effort to restore access to dollar funding for European banks. Euro-zone banks used the new facility to borrow $50.7 billion at a rate of 0.59% at the first operation after the announcement.

The BIS's essay was its latest in a series analyzing the concept of global liquidity, and focused again on the interplay between official liquidity, that is, created by central banks, and the far greater liquidity created by the private sector on the basis of central bank money--the so-called money multiplier.

The essay observed that much is still unknown on this topic, particularly on the degree to which the accumulation of foreign exchange reserves by central banks, and their subsequent reinvestment, can affect the creation of private liquidity.

The BIS noted that the priority of policymakers should be to mitigate surges in the overall level of global liquidity. It said the new "Basel III" rules on capital and liquidity should help this trend of "counter-cyclical" policymaking.

Do you appreciate what you have just read, dear reader? Do you understand the black maw of the vicious, velvet trap that is now being readied? Unlimited money printing is to be aimed at a grievously wounded world – and the antidote is to be MORE GLOBAL REGULATION.

Over and over we see this sort of generic dominant social theme in action. Having unleashed a fear-based promotion (a new Great Depression), the elite now suggests that only their international agencies can rectify it.

So let the central banks print away! The regulators have figured it out. They've put into place something called Basel III. This "solution" has been initiated by the same banking community that has hollowed out the life savings of hundreds of millions; it is supposed to ensure that hyperinflation is damped and the velocity of money is damped.

Here at the Daily Bell we quantify the fear-based memes of the elite and their efficacy. We've kept track not only of the successes but of the failures as well. And in our view, the failures are mounting up.

Most recently we suggested that the current chaos in the Eurozone was yet another elite failure – that ideally, Britain wouldn't have had to pull away from the euro but would have drawn closer to the EU.

In fact, Britain's pullback itself may be not only an acknowledgement of the troubles the elites are having in creating their one-world order, it may also be a STRATEGY – one creating a favorite tool, the Hegelian Dialectic.

That's how you move the socio-political discussion in the "right" direction. You need opposing sides to create first a thesis and an antithesis and then, finally ... a synthesis. In this case, the current economic chaos is the thesis, and the BIS's idea of money printing is to be the anti-thesis.

What is to be the synthesis? Well ... perhaps one prints (relatively) slowly, at least at first. Of course, speed is relative. What is "slow" can soon become "faster." The Hegelian Dialectic, in fact, is likely merely a trick designed to create a false sense of satisfaction in those who participate or follow but do not have an understanding of the grand design. No, from our point of view, the "controllers" are making it clear what is to be the next step of the "great game."

Conclusion: Can you hear the noise? It is not a train headed down the track. It is not Superman flying through the air faster than the speed of sound. It is a printing press, running hard toward ruin.

Source

Crisis by Design - John Truman Wolfe

Wednesday, June 16, 2010
Crisis by Design John Truman Wolfe on Coast to Coast AM 14 June 2010

The Financial Coup : Coast to Coast AM 14 June 2010


John Truman Wolfe reveals the Root Causes of the Worldwide Economic Crash, why it happened, where it is headed and what you can do about it.
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Author and ex-banker John Truman Wolfe argued that the current world economic crisis is an international coup designed to take down the U.S. dollar and install a global financial machine. He named the Global Monetary Authority (GMA) as a "financial dictator of the planet" and the Bank for International Settlements (BIS) in Switzerland-- as the central bank for such entities as the Federal Reserve, Bank of England, and Bank of Japan. In fact, "all 55 central banks on the planet are members of and junior to the Bank of International Settlements," which he described as being above the law.

The idea of the amero replacing the dollar is a "red herring," said Wolfe-- "the global currency that is being rolled out as we speak is the SDR," a fiat currency of the International Monetary Fund. "The simple fact of the matter is that the fiscal economy of the United States has been dished off to a bunch of bankers in Basel, Switzerland," he declared. Their plan is to reduce the size of the US economy and remove the dollar as the world's reserve currency, he continued.

Further, the current crisis in such EU countries as Greece was planned so that the bankers can 'come to the rescue' and push for more international control mechanisms, he said. To counteract the international bankers, Wolfe suggested taking back the printing of money from the Federal Reserve (whom he called "fiscal vampires") and backing US currency with actual products and real estate. He also called for oversight of international banking organizations and their regulations.
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Source: http://geraldcelentechannel.blogspot.com/2010/06/crisis-by-design-john-truman-wolfe.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FAYsl+%28Gerald+Celente+Trends%29&utm_content=My+Yahoo
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We’re All Peripheral Now

June 15, 2010, 11:33 AM GMT

By David Cottle

Whenever capital markets think they can at last settle down to concentrate on something else: mildly positive economic data, perhaps, or the crucifixion of BP, the euro-zone’s sovereign-debt hydra grows another head and lumbers back center stage.

Look at U.S. equity markets. They were doing OK on Monday until Moody’s announced its latest robust hack at Greece’s credit ratings. Such a move had been fairly well flagged but, even so, coming after Banco Bilbao Vizcaya Argentaria chairman Francisco Gonzalez gloomily said most Spanish companies and banks are suffering from a credit freeze, it was more than enough to send investors scurrying for the exits.



AFP/Getty Images
A car passes by the Bank for International Settlements on May 10, 2010 in Basel.
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Now they have the latest quarterly review from the Bank for International Settlements to chew over, too, and it’s unlikely to have them hurrying back into the fray.

As is its wont, the BIS has been looking at who in struggling, so-called ‘peripheral’ nations of the euro zone owes what to whom. And, surprise surprise, it tells us:

“Euro-area banks were particularly exposed to the residents of Greece, Ireland, Portugal and Spain, accounting for almost two thirds of all BIS reporting banks’ exposures to these countries.”

Within the euro area, French and German banks, apparently, have the largest exposures ($493 billion and $465 billion, respectively) while, without, banks headquartered in the United Kingdom had larger claims on Ireland ($230 billion) than banks based in any other country.

Just to pile mess on top of mess, Spanish banks were the ones with the highest level of exposure to the residents of Portugal ($110 billion).

These data are particularly interesting and well timed. Leaders in Europe’s relatively prudent ‘core’ are conducting their own heated internal debates over the extent to which the profligate periphery ought to be bailed out with their voters’ hard-earned funds and reputations. The idea of blank checks to Greece, Spain and all isn’t one that resonates much with the German people by all accounts; it’s hard to imagine the French are any more keen. Both have problems enough of their own, anyway, highlighted most recently by this morning’ s dismal ZEW sentiment survey out of Germany.

But, alas, the BIS’ numbers blur the over-used distinction between ‘periphery’ and ‘core’ almost to the point of invisibility. For the latter, it may well be a case of ‘bail out the debtors; the banks you save may be your own.’
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Source: http://blogs.wsj.com/source/2010/06/15/were-all-peripheral-now/
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