Dominant Finance Capital Institutions - by Stephen Lendman
This article discusses the two most powerful global finance capital institutions few people ever heard of.
Most people know about the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan.
Few ever heard of the Bank for International Settlements (BIS), the central bank for central bankers. Based in Basle, Switzerland, it's a banking boss of bosses accountable to no government.
Privately owned by its member central banks, dominant ones and financial elitists have most influence to eventually implement global control under one currency.
The BIS is a secretive 55-member nation global central bank run mainly by monetary authorities in America, Germany, Switzerland, Italy, Japan and Britain.
In 2009, serving dominant banking interests, Obama proposed stealth financial reform for global monetary control.
Objective V addressed "Rais(ing) International Standards and Improving International Cooperation" by promoting global control in a single paragraph:
"The United States is playing a strong leadership role in efforts to coordinate international policy through the G-20, the Financial Stability Board , and the Basel Committee on Banking Supervision. We will use our leadership position in the international community to promote (an) initiative compatible with the domestic regulatory reforms described in this report."
It also recommended "Strengthen(ing) the Financial Stability Board....complet(ing) its restructuring and institutionaliz(ing) its new mandate to promote global financial stability by September 2009."
In addition, it urged "work(ing) with the Bank for International Settlements (BIS) and standard setters to develop macroprudential tools." Obama asked other nations to follow America's lead.
A Financial Stability Board (FSB) would be a step closer to global monetary control. G-7 nations, the BIS, IMF and other international lending agencies would dominate it. Wall Street would have greater than ever power. Dictatorial finance capital would follow.
In his 1966 book titled, "Tragedy and Hope," Carroll Quigley said:
"(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."
Incrementally they've moved closer to absolute global control of money, credit and debt to dominate economies, politics, commerce, and imperial adventurism. As a result, they've adversely harmed popular interests benefitting them.