Monday, September 7, 2009

Global Financial Control through FSB

G20 plans to reshape financial system

The G20 has asked Mr Draghi to draft guidelines to control bank executives’ bonuses as part of his overall mandate to write a plan to reshape the global financial system and avert future crises....? The Bank of International Settlements created Basel II, which is an accounting rule that required US banks in Nov 2007 to adjust the value of their marketable securities (such as mortgage-backed securities) to the “market price” of the security. When one particular bank did seek to sell some of these securities, they got bargain basement prices. Instantly, that meant that the hundreds of billions of dollars of these securities being held by banks around the world had to be marked down. BIS knew this would happen, why else let it happen and now tell us the financial system needs reshaping?

Posted by debtfree @ 03:11 PM (958 views)
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4 thoughts on “Global Financial Control through FSB

  • mark wadsworth says:

    They are truly mentally ill. Or pathological liars with short memories.

    UK and US and Irish governments have gone out of their way to create credit and house price bubbles. Excessive pay in financial sector is a symptom but not a cause of that.

    What on earth do they actually want to achieve:

    1. Reflating credit and house price bubbles?

    2. Dampening credit bubble and hence house price bubble.

    3. Shift the blame to the banks, who exploited the rules, but did not create them?

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  • do BIS want full global control of monetary policies, overriding the sovereign right of nations ?

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  • happy mondays says:

    What has it not done enough damage ? Does it need tweeking for maximum carnage..
    @ 1 Answers to your questions :
    1 : yes
    2 : yes
    3 : yes

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  • Debtfree – this is exactly the point. One-world currency and financial system. Problem-reaction-solution

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