Bank of International Settlements: the mother of all banks

by Eugene on May 4, 2009

in Economy

Project World Awareness found this obscure gem about the path towards a global currency. In the last G20 summit, these leaders have agreed to support the beginning of this global currency by activating the IMF’s power to produce money in the form of SDRs (Special Drawing Rights). What could the next step be?

Some have speculated that the Bank of International Settlements (BIS) would be the undisputed choice as a global central bank. It is based in Basel, Switzerland, and boasts a client list of most major central banks around the world. Its influence and power is obvious, and it is known to make or break economies of a country — the current U.S. recession included.

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