The Basel Committee and the Global Banking Mafia… «Basel III»: banks’ U-turn on gold...??!! (do you know what that means) The Basel Committee on Banking Supervision (hereinafter – the Committee) is closely associated with supranational organizations like the Bank for International Settlements in Basel (BIS), which is often called the «club», the «headquarters» of central banks or the «Central Bank of Last Resort». At long last, a new document emerged called Basel III. Proposals for Basel III were approved at the G20 Summit in Seoul in November 2010. Participants at the Summit also approved the timeline for the phased implementation of the standard. 1 January 2013 was given as the start date. The new document is exceedingly complex and voluminous, numbering nearly 800 pages. I would like to draw your attention to the following features: 1. The timeline for implementing the standard stretches to 2018; in other words, the standard is not «strict», it gives banks enough time for manoeuvre; 2. The bar for the capital adequacy ratio of banks was raised, but not so much that it would avoid new crises; 3. The role of the «human factor» in the assessment of banks by supervisory authorities was increased; and 4. Within equity, a special role has been given to gold as a financial asset. projectworldawareness/2013/05/the-basel-committee-and-the-global-banking-mafia/
Posted on: Wed, 14 Aug 2013 04:22:16 +0000
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