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Bank of International Settlements (BIS)


Self Description

July 2012: "The mission of the Bank for International Settlements (BIS) is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks.

In broad outline, the BIS pursues its mission by:

  • promoting discussion and facilitating collaboration among central banks;
  • supporting dialogue with other authorities that are responsible for promoting financial stability;
  • conducting research on policy issues confronting central banks and financial supervisory authorities;
  • acting as a prime counterparty for central banks in their financial transactions; and
  • serving as an agent or trustee in connection with international financial operations.

The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City.

Established on 17 May 1930, the BIS is the world's oldest international financial organisation."

http://www.bis.org/about/index.htm

Third-Party Descriptions

July 2012: "The detailed analysis in the report, compiled using data from a range of sources, including the Bank of International Settlements and the International Monetary Fund, suggests that for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world."

http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy

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Articles and Resources

Date Fairness.com Resource Read it at:
Jul 21, 2012 £13tn: hoard hidden from taxman by global elite • Study estimates staggering size of offshore economy • Private banks help wealthiest to move cash into havens

QUOTE: "The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments," the report says

 Guardian Unlimited