Bank for International Settlements

by Stephan Smith on October 7, 2014

YouTube Subscribe Button

SUBSCRIBE: Enter your email address to get notified whenever Stephan Smith posts new content. Thank you.

The bank to rule them all; the Bank for International Settlements is the most powerful and oldest global financial institution in the world. Established on May 17th, 1930, the Bank for International Settlements, commonly abbreviated as BIS, acts as the bank for central banks and other major international organizations like the World Bank and the International Monetary Fund.

Bank for International Settlements Logo

The headquarters of the Bank for International Settlements is located in Basel, Switzerland. It also has two other offices, one in Hong Kong, China and one in Mexico City, Mexico.

BIS in Basel, Switzerland (Headquarters)

BIS does not provide any of their services to private or corporate entities. According to the BIS website, their mission is simply this:

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.

source

The Bank for International Settlements provides an outline as to how they execute their objectives. The outline is as follows…

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.
  • If I carefully look over the outline provided by BIS, I cannot help but equate BIS to that of a CEO of a company and all other central banks and international organizations as lower executives. It appears that the Bank for International Settlements has a managerial and authoritative position relative to central banks. In short, it is the boss of bosses in this global financial pyramid.

    Promoting Discussion and Facilitating Collaboration Among Central Banks & Supporting Dialogue with Other Authorities that are Responsible for Promoting Financial Stability

    Like a boss who conducts meetings with employees to discuss objectives and orchestrates collaborations for the sake of getting a job done, the Bank for International Settlements does the very same with central bank officials and international agency executives. One of the functions of BIS is to orchestrate and host meetings. One such meeting is called “The Regular Meetings of Governors“. This meeting takes place at BIS once every two months and consists of central bank officials from around the world.

    According to the BIS website, these meetings provide a venue for central bank officials to discuss the world economy and various financial markets, and to share ideas and thoughts openly about central bank business. It appears that the overall purpose of “The Regular Meetings of Governors” meeting is to grant participants a better understanding the status of the central banking community and their respective economies.

    The Bank for International Settlements also conducts meetings with other international agencies as well as any local agency that as any influence on the financial stability of a country, region or even the world. It is safe to say that includes governments.

    Conducting Research on Policy Issues Confronting Central Banks & Financial Supervisory Authorities

    Like a boss who researches solutions and brainstorms with employees on how to best confront issues; like a boss who voices thoughts and opinions that greatly influence courses of action taken by a company, the BIS does just that with central banks and supervisory authorities. The Bank for International Settlements conducts research and analyzes economic data of various kinds to provide their insights and opinions to central bank officials during meetings like “The Regular Meetings of Governors”. The BIS will also provide their insights and opinions to supervisory authorities like governments.

    Here are two examples of some of the insights BIS provides:

  • Monetary analysis and the global financial cycle: an Asian central bank perspective
  • Developing an Underlying Inflation Gauge for China
  • Member Central Bank List

    As of October 2014, the Bank for International Settlements has more than 50 central banks as members to its organization and I do realize I’m being conservative with that number. It is my opinion that central banks are the most powerful institutions in a country, in most cases, and it is quite unsettling that all major central banks and then some all have membership with the Bank for International Settlements. Like major basketball teams that have memberships to the NBA, central banks have memberships to the BIS. The NBA has authority over the basketball teams and BIS has authority over the central banks.

    Though I have yet to find BIS claiming to have regulatory power or authority over all member central banks, the fact that BIS is the bank for central banks leads me to believe that BIS has an authoritative position over its members. BIS must truly be near the very top of the financial pyramid.

    So without further delay, here is the list of central banks that have membership to the Bank for International Settlements. You can find this list on the BIS website: (source)

  • Bank of Afghanistan
  • Bank of Albania
  • Bank of Algeria
  • National Bank of Angola
  • Central Bank of Argentina
  • Central Bank of Armenia
  • Central Bank of Aruba
  • Reserve Bank of Australia
  • Austrian National Bank
  • The Central Bank of the Republic of Azerbaijan
  • Central Bank of The Bahamas
  • Central Bank of Bahrain
  • Bangladesh Bank
  • Central Bank of Barbados
  • National Bank of the Republic of Belarus
  • National Bank of Belgium
  • Central Bank of Belize
  • Central Bank of West African States (BCEAO)
  • Bermuda Monetary Authority
  • Royal Monetary Authority of Bhutan
  • Central Bank of Bolivia
  • Central Bank of Bosnia and Herzegovina
  • Bank of Botswana
  • Central Bank of Brazil
  • Bulgarian National Bank
  • Bank of the Republic of Burundi
  • National Bank of Cambodia
  • Bank of Central African States
  • Bank of Canada
  • Bank of Cape Verde
  • Cayman Islands Monetary Authority
  • Central Bank of Chile
  • The People’s Bank of China
  • Bank of the Republic, Colombia
  • Central Bank of Congo
  • Central Bank of Costa Rica
  • Croatian National Bank
  • Central Bank of Cuba
  • Central Bank of Curaçao and Sint Maarten
  • Central Bank of Cyprus
  • Czech National Bank
  • National Bank of Denmark (Danmarks Nationalbank)
  • Central Bank of the Dominican Republic
  • Central Bank of Ecuador
  • Central Bank of Egypt
  • Central Reserve Bank of El Salvador
  • Bank of Estonia
  • National Bank of Ethiopia
  • European Central Bank
  • Reserve Bank of Fiji
  • Bank of Finland
  • Bank of France
  • Central Bank of The Gambia
  • National Bank of Georgia
  • Deutsche Bundesbank
  • Bank of Ghana
  • Bank of Greece
  • Bank of Guatemala
  • Central Bank of the Republic of Guinea
  • Bank of Guyana
  • Bank of the Republic of Haiti
  • Central Bank of Honduras
  • Hong Kong Monetary Authority
  • Magyar Nemzeti Bank (Central Bank of Hungary)
  • Central Bank of Iceland
  • Reserve Bank of India
  • Bank Indonesia
  • The Central Bank of the Islamic Republic of Iran
  • Central Bank of Iraq
  • Central Bank of Ireland
  • Bank of Israel
  • Bank of Italy
  • Bank of Jamaica
  • Bank of Japan
  • Central Bank of Jordan
  • National Bank of Kazakhstan
  • Central Bank of Kenya
  • Bank of Korea
  • Central Bank of the Republic of Kosovo
  • Central Bank of Kuwait
  • National Bank of the Kyrgyz Republic
  • Bank of the Lao PDR
  • Bank of Latvia
  • Central Bank of Lebanon
  • Central Bank of Lesotho
  • Central Bank of Liberia
  • Central Bank of Libya
  • Bank of Lithuania
  • Central Bank of Luxembourg
  • Monetary Authority of Macao
  • National Bank of the Republic of Macedonia
  • Central Bank of Madagascar
  • Reserve Bank of Malawi
  • Central Bank of Malaysia
  • Maldives Monetary Authority
  • Central Bank of Malta
  • Bank of Mauritius
  • Bank of Mexico
  • National Bank of Moldova
  • Bank of Mongolia
  • Central Bank of Montenegro
  • Central Bank of Morocco
  • Bank of Mozambique
  • Central Bank of Myanmar
  • Bank of Namibia
  • Central Bank of Nepal
  • Netherlands Bank
  • Reserve Bank of New Zealand
  • Central Bank of Nicaragua
  • Central Bank of Nigeria
  • Central Bank of Norway (Norges Bank)
  • Central Bank of Oman
  • Eastern Caribbean Central Bank
  • State Bank of Pakistan
  • Palestine Monetary Authority
  • Bank of Papua New Guinea
  • Central Bank of Paraguay
  • Central Reserve Bank of Peru
  • Central Bank of the Philippines (Bangko Sentral ng Pilipinas)
  • National Bank of Poland
  • Bank of Portugal
  • Qatar Central Bank
  • National Bank of Romania
  • Central Bank of the Russian Federation
  • National Bank of Rwanda
  • Central Bank of Samoa
  • Central Bank of the Republic of San Marino
  • Saudi Arabian Monetary Agency
  • National Bank of Serbia
  • Central Bank of Seychelles
  • Bank of Sierra Leone
  • Monetary Authority of Singapore
  • National Bank of Slovakia
  • Bank of Slovenia
  • Central Bank of Solomon Islands
  • South African Reserve Bank
  • Bank of Spain
  • Central Bank of Sri Lanka
  • Bank of Sudan
  • Central Bank of Suriname
  • The Central Bank of Swaziland
  • Sveriges Riksbank
  • Swiss National Bank
  • Central Bank of Syria
  • National Bank of the Republic of Tajikistan
  • Bank of Tanzania
  • Bank of Thailand
  • National Reserve Bank of Tonga
  • Central Bank of Trinidad and Tobago
  • Central Bank of Tunisia
  • Central Bank of the Republic of Turkey
  • Central Bank of Turkmenistan
  • Bank of Uganda
  • National Bank of Ukraine
  • Central Bank of the United Arab Emirates
  • Bank of England
  • The Federal Reserve System
  • Central Bank of Uruguay
  • Central Bank of the Republic of Uzbekistan
  • Reserve Bank of Vanuatu
  • Central Bank of Venezuela
  • State Bank of Vietnam
  • Central Bank of Yemen
  • Bank of Zambia
  • Reserve Bank of Zimbabwe
  • Bank for International Settlements Is Above The LAW

    The Bank of International Settlements is an institution that is free from all accountability from any and all national governments. Yes, that includes Switzerland too; the very same country where BIS is headquartered. According to the document titled “Agreement between the Swiss Federal Council and the Bank for International Settlements to determine the Bank’s legal status in Switzerland“, Switzerland is not allowed to do any of the following:

  • Switzerland has agreed to not take action against BIS and guarantees to BIS complete autonomy and freedom of action as an international organization. Switzerland has also agreed to grant BIS and all members ABSOLUTE freedom to hold meetings, discussions and ABSOLUTE freedom to make decisions. Article 2 Point 1 and 2

  • Switzerland has agreed to prohibit Swiss pubic authorities from entering any BIS buildings or lands used by BIS for any reason without the express consent from the BIS President (this position was abolished on June 27th 2005), General Manager or duly authorized representative. Article 3 Point 1

  • Switzerland has agreed to prohibit the securing of any and all documents, data, media, files, archives or anything with information that is in the possession of BIS, in all places…at all times…FOREVER. Article 3 Point 2

  • Switzerland has agreed to allow BIS to exercise supervision of and police power over its premises. Article 3 Point 3

  • Switzerland has agreed to never tax BIS; no direct & indirect tax, cantonal and communal taxes. The only taxes the Bank for International Settlements may pay are on buildings that are owned by BIS and income is derived therefrom. There may be one more exception, but they are so small that I won’t even waste my time type them in. Article 7 Points 1 & 2

  • If you would like to see more of the freedoms this bank enjoys, check out this document.

    In Conclusion

    All in all, the Bank for International Settlements is the bank with the highest authority in banking period. Acting as a hub for central banking business worldwide and as the only bank for over 50 central banks, BIS is an entity like no other. It oversees the discussions, planning and execution of monetary policies implemented by central banking officials worldwide. BIS offers insights, banking services, research data and advice to central bank monetary boards that will greatly influence global monetary policies and collaborations. BIS is exempt from paying a great majority of taxes, it is free from governance, free to take any action it deems fit without any intervention from any party; and it is free from police investigations.

    I feel comfortable sharing the fact that I think the Bank for International Settlements and all its members are a dangerous den of powerful and corrupted financiers who may be making decisions and taking actions that are not in the best interest of the people on this planet. That’s my honest opinion.

    The Bank of International Settlements is the bank of the banks, the top of the top, the headquarters of the money masters.



    To contact me for questions, comments, adverting or other business related inquiries - please visit my contact page.


    Leave a Comment

    { 0 comments… add one now }

    Previous post:

    Next post: