Jerome Powell is Chairman of the US Federal Reserve. Powell was also appointed by Bank of International Settlements as; Chair of the Global Economy Meeting (GEM) and as Chair of The Economic Consultative Committee (ECC). This means that the Federal Reserve is actually a ‘subsidiary’ of BIS. And ‘They”, not Powell or Yellen, are running our entire Banking System. From raising interest rates, to bank bailouts, to bank monetary investments. We are under the Tutelage Thumb of – BIS
BIS determines global monetary policy. All members comply from India to China to US and Brazil, BIS regulates its 90 member countries and determines who gets what. At their meeting this past November, BIS determined that some cryptocurrencies needed to be eliminated in order to facilitate better control on their ‘chosen crypto’s. In addition through Basel III BIS deemed greater regulation and oversight of nonbanking institutions is necessary in order to encapsulate risk management schemes. This phase in will be completed as of 2028.
In the GEM & ECC meetings, BIS seeks to assure the banking cartel that BIS will continue to leverage the profits these members require in order to be ‘happy’. As such, the Committee states that high interest rates should succeed in that happiness quotient.
Powell’s US actions are a direct enforcement of BIS. He has repeatedly confirmed that he works for the Banks, not the Public. As such, he created pools of profits wherein the Banking Cartel was advised when to buy, when to sell, what to buy, etc…
Today, this Banking Cartel warns that pension funds and non-banking institutions have over $80 TRILLION in ‘hidden debt’. The debt is NOT on bank balance sheets and it is short term. Relative risk to high interest rates means a scramble. That scramble would mean banks will need to make huge profits via short-term investments to pay interest and debt obligations.
“In mid-2022, non-US banks with direct access to Federal Reserve credit only in their US operations owed an estimated $39 trillion in dollars from FX swaps, forwards and currency swaps.”
FX Swaps are a form of exchange rate currency manipulation. Typically, these trades require a ‘swap dealer’ as defined in the 2010 Dodd Frank Wall Street Reform implemented during the Obama Regime. According to the Reform, a dealer is only regulated should the aggregate swap exceed a minimum of $8billion. The Dodd Frank Reform is said to have disproportionately hit small banks reinforcing greater control within the Banking Cartel.
Due to the regulations, small banks were unable to comply resulting in a 20% drop in their market share. While ‘hidden debt’ is a real factor, what is not discussed is banks also have ‘hidden assets’ not reported on their Balance Sheets. Typically, these assets can be real estate, resources, and derivatives. For Example: In 2012, JP Morgan claimed its total assets on its balance sheet were $2.4 trillion. However, it had $1.5 trillion in derivatives NOT reported on its BS. That translates to nearly 40% of assets were Hidden from consumers. When a Bank is bailed out – those ‘hidden assets’ are not taken into account. And Taxpayers take a double hit.
Importers and exporters hedge FX Swaps in Trade. Bond markets typically use FX swaps to increase profit margins. But in essence, these hedges are manipulated and profits are distributed like free chocolate. I imagine, BIS members pay a Fee in order to be aboard the Cartel Train –
According to BIS:
“Off-balance sheet dollar debt may remain out of sight and out of mind, but only until the next time dollar funding liquidity is squeezed. Then, the hidden leverage10 and maturity mismatch in pension funds’ and insurance companies’ portfolios – generally supposed to be long-only – could pose a policy challenge. And policies to restore the flow of dollars would still be set in a fog.”
This ‘challenge’ was called out by BIS when monetary policy across member states was ‘squeezed’ via raising interest rates. The squeezing of the flow of money, aka high interest rates, was purposefully done to create a possible Banking crisis as hidden liabilities and their increased interest payments can no longer be offset by depreciating hidden assets. This squeeze could create havoc with pension funds – and potentially see some funds collapse – insolvent.
While BIS would have us believe all of this trade manipulation is based on markets – the markets are based on BIS. BIS controls the markets – if BIS wants a collapse – it happens. If BIS wants profit – it happens. It is much like The Economist. When they predict something will occur, it is because they are diligently causing its occurrence.