The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming

By Michael Snyder.

The Bank For International Settlements at Night - Photo by WladyslawMost people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization.  He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017.  The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system.  So when Jaime Caruana speaks, people should listen.  And the fact that he recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells.  Speaking of the financial markets, Caruana ominously declared that “it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally” and he noted that “markets can stay irrational longer than you can stay solvent”.  In other words, he is saying what I have been saying for so long.  The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.

So why would the head of ‘the central bank of the world’ choose this moment to issue such a chilling warning?

Does he know something that the rest of us do not?

According to a recent article in the Telegraph by Ambrose Evans-Pritchard, Caruana is extremely concerned about rising debt levels and the current level of euphoria in the financial markets…

The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.

Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.

“Markets seem to be considering only a very narrow spectrum of potential outcomes. They have become convinced that monetary conditions will remain easy for a very long time, and may be taking more assurance than central banks wish to give,” he told The Telegraph.

Mr Caruana said the international system is in many ways more fragile than it was in the build-up to the Lehman crisis. Debt ratios in the developed economies have risen by 20 percentage points to 275pc of GDP since then.

And you know what?

Caruana is certainly correct to be warning us about these things.

As I have written about previously, the total amount of government debt in the world has grown by about 40 percent since the last recession, and the “too big to fail banks” have collectively gotten 37 percent larger since that time.

The U.S. national debt has grown from about 10 trillion dollars to more than 17.5 trillion dollars, and even the Bank for International Settlements admits that the global derivatives bubble has grown to at least 710 trillion dollars.

The massive financial imbalances that we were facing during the last crisis have not been fixed.  Instead, they have gotten much, much worse.

But should we trust the Bank for International Settlements?

Of course not.

This is a very secretive organization that very few people know about but that possesses absolutely enormous power.  The following is a brief overview of the Bank for International Settlements from one of my previous articles entitled “Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does“…

An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe.  It is called the Bank for International Settlements, and it is the central bank of central banks.  It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that “it is not accountable to any single national government.”  The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system.  Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does.  Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”.  During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on.  The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.

The role that the Bank for International Settlements is playing today was envisioned by the global elite long ago.  In another previous article, I quoted from a book that Georgetown University history professor Carroll Quigley wrote in 1975 entitled “Tragedy & Hope” in which he discussed how the BIS was to one day become “the apex” of the global financial system…

[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.

And it is interesting to note that Professor Quigley was not against the system that the elite were setting up.  He was just an academic that was trying to accurately convey what he had learned about how the global system works.

Sadly, the system that Quigley wrote about all the way back in 1975 has fully blossomed today.

Every two months, the central bankers of the world travel to Switzerland for “Global Economy Meetings” in Basel.  Most people have never heard of them, but these Global Economy Meetings were actually discussed in the Wall Street Journal

Every two months, more than a dozen bankers meet here on Sunday evenings to talk and dine on the 18th floor of a cylindrical building looking out on the Rhine.

The dinner discussions on money and economics are more than academic. At the table are the chiefs of the world’s biggest central banks, representing countries that annually produce more than $51 trillion of gross domestic product, three-quarters of the world’s economic output.

So how do you feel about the fact that the central bankers of the world regularly gather to plot their next moves for the global economy?

Should an unelected group of central bankers that has no accountability to any national government really have so much power?

Please feel free to share what you think by posting a comment below…


A former Washington, D.C., attorney, Michael Snyder runs a number of websites, including:

This entry was posted in Business / Economics, Politics / World News. Bookmark the permalink.
  • metalious

    You, along with many of the writers at Zero Hedge, have a huge blind, and frankly, bizarre blind spot. Zero Hedge spent most of 2009-10 accumulating evidence that the markets are rigged. And yet, in a weird display of cognitive dissonance, the same writers keep warning that those same rigged markets are going to collapse, as though the Invisible Hand were losing its grip.

    The fact is, those markets are pump primed, plunge protected to death. Or I should say, to life, like re-animator. Find the 2010 Charles Biderman Bloomberg interview where he describes his firm’s efforts to figure who’s propping up the stock market’s record recovery. It’s amusing, the way they danced around the PPT-conspiracy theory.

    Another thing your analysis gets wrong is who the BIS really is and how much power they really have. The thing to understand is that these central bankers are not powers unto themselves. They are technicians. Managers. The real power is in the actual wealth holders the central bankers work for. I won’t name names, but it should be pretty obvious who they are.

    It’s just important to know that central banksters aren’t really in charge any more then the politicians.

    • Shameer Mulji

      Color me blind, but doesn’t seem obvious who the actual wealth holders that the central bankers work for are. And that information isn’t exactly easily available. How about you drop a couple names? And I’m being genuinely serious, not sarcastic.

    • not authorized

      Your right. The central bankers, who are not sold out, tell us the same thing. But other blogs warned you about this 10 years ago. The .01%, is not a conclusive census.

      Evidence is still evidence.

      This is what we were educated for. Will you please listen?

  • jadan

    The credit contraction that shut down markets in 2008 could be laid at the feet of the BIS at “Basel III” when capital requirements were increased. Since the BIS calls the tune the credit spigot is turned up or down at all member banks. “Jaime Caruana, head of the Swiss-based financial watchdog, said
    investors were ignoring the risk of monetary tightening in their
    voracious hunt for yield.” And who creates this monetary tightening? the Lizards of Basel. They did it the last time, and they’re saying they’ll do it again. Private operators of national financial systems have long been engaged in creating this boom-bust cycle. A bust was induced by JP Morgan in 1907 to force government to later accept what was to become known as the Federal Reserve. A strong dose of financial terrorism concentrates the minds of the public in a very efficient way. Offers of stability and protection from the creators of the terror leads to increased concentration of power. Suddenly, we’re all thinking “the 1%”. Eventually we will come to realize the enemies of the people have their headquarters in Basel and infest every nation like a fifth column devoted to the destruction of representative government and the nation state itself.

  • Roddy

    “The Head Of ‘The Central Bank Of The World’ Warns That Another Great Financial Crisis May Be Coming”
    Well..the man’s a genius isn’t he !
    There will ALWAYS be a financial crisis coming until mankind is gone from this world.
    The reality is that the GFC was just the alarm clock for the masses and 99% are still asleep.
    The event that the GFC was the alarm clock for has yet to hit, but hit it will, there is no “may be coming”.
    But let’s just add it to the growing list of crises mankind faces like clean air and water, peak oil, fracking, environmental destruction, unchecked population growth, climate change, zombiefication of the population etc.
    We’re a smart species – we’ll solve them all, right ?
    If we were a smart species we’d never have created them in the first place !

  • Fullblad

    There is really no need for central banks anywhere at all. Despite what MMTheorists go on about the omnipotent power to create money should reside with the people and banks kept to their sphere by a mandated 100% reserve requirement. The bastards that run our financial/monetary system need to be put out of business and then arrested under the appropriate charges. Does the Hague have a death penalty for crimes against humanity?

  • Ziad K Abdelnour

    The primary near-term security concern of the United States is the global economic crisis and its geopolitical implications. The crisis has
    been ongoing for over a year, and economists are divided over whether
    and when we could hit bottom. Some even fear that the recession could
    further deepen and reach the level of the Great Depression. Of course,
    all of us recall the dramatic political consequences wrought by the
    economic turmoil of the 1920s and 1930s in Europe, the instability, and
    high levels of violent extremism.
    Ziad Abdelnour


  • joviss

    And then of course there’s the Rothschilds, who own most of the central banks. Just like they own the U.S. Federal Reserve, which is neither federal nor a reserve. They’ve been pulling the strings for centuries.

  • I am surprised finding people with the same knowledge, conclusions and concerns. These are the consiglieries to the mafia casino called “high finance” while the Libor boys are just some lower ranked execution level. Untouchable and above any law!? Like the Club of Malta? Well its about time we make an end to this tiny arrogant and powerful circuit playing monopoly with humanity.

  • jack loach

    Sods —–

    .- 2015. ( Updated.)

    For almost two
    decades we have strived to get justice for the injustice we have
    suffered at the hands of a world renowned bank— PICTET & CIE.

    Two yorkshiremen
    both running their own small family businesses trying to resolve the
    problem by taking all the correct legal procedures to recover their

    The matter was
    raised in Parliament – twice– the FSA investigated the matter
    concluding that PICTET had rogues operating in their London Bank —
    but the rogues had left —saying no one left to prosecute.??? —–
    so there.

    We then
    approached the Financial Ombudsman Service. (FOS) — our case was
    dealt with by seven different people —- then our numerous E-Mails
    were ignored — nobody would speak to us ——-so there.

    We then asked the
    SFO ( Serious Fraud Office.) to investigate our case —- the
    criteria of our case ticked all their boxes. — we were instructed
    not to send them

    documents/evidence.—— in fact they wrote to us advising us to go
    to the Citizen’s Advice Bureau.(CAB.)

    Richard Alderman
    the SFO boss —- who responded to our letter was the same man who
    would not investigate the “ Madoff” scandal or the “Libor”

    The MP’s
    committee —- said he was sloppy— and the SFO was run like “
    Fred Karno’s Circus” —– it was an office of fraud.—– so

    Our M.P.
    approached our local Chief Constable to investigate—– he was
    called—- Sir Norman Bettison— Chief Constable of West Yorkshire
    Police —- a force that made “ Dad’s Army” look like the S.A.S.
    They were inept – corrupt —malicious — from top to bottom. We
    were criminally dealt with by the Forces Solicitor—- the Head of
    the Economic Crime Unit —-and the Chief Constable —– so there.

    We were then
    advised to pass our complaint against West Yorkshire Police to the
    I.P.C.C. – which we did — they advised us to make our complaint
    to —- the West Yorkshire Police — we did with reluctance — all
    we got was abuse and obfuscation. —– so there.

    Sir Norman
    Bettison —- The Forces solicitor— and the Head of the Economic
    Crime —- have all been removed from their posts and facing criminal

    —— so there.

    We even sought
    justice through the Courts — culminating in a visit to the Court of
    Appeal-London.— On leaving the Courts of Appeal that day our
    barrister a “rising star” informed us — that if that was
    British Justice then you can keep it. He quit the law and moved to
    Canada —– so there.

    A few years later
    we learned that one of the judges ( Lord Justice.) in our case at the
    Court of Appeal was related to a senior executive of the Pictet Bank
    —–so there.

    The Ministry of
    Justice passed our case to Lord Myners to investigate — we would
    rather have had Mickey Mouse or Donald Duck do it. — to this day we
    don’t know

    —whether he did
    anything or not —- probably not — seeing that his wife was on the
    Pictet Prix Board.

    Pictet & Cie
    .Bank — voted private bank of the year 2013.

    Ivan Pictet —-
    Voted banker of the year 2012. —- the senior partner — lied on
    numerous occasions and had documents destroyed — also said genuine
    documents were forgeries. —– so there.

    Pictet & Cie.
    were adamant that they had no involvement with MADOFF —- they lied
    again —- they let him steal the monies then conned it off him.—
    so there.

    2012 — June –
    Published in Anglo INFO. Geneva – USA Trust Fund Investors were
    sent false and fraudulent documents by Pictet Bank in order to
    collect large fees ( Like Madoff.) Even
    after the SEC in the USA uncovered the fraud Pictet continued to
    charge fees and drain whatever was left in these accounts. Estimated
    that $90 million lost in this Pictet Ponzi scheme.– so there.

    Ivan Pictet in
    Oct. 2013 —- Given the Legion of Honour — but saying that —-
    honours were given to Hitler — Eichmann — Mussolini —Franco
    — he’s in fitting company. —-so there.

    April 2015. —-
    Inner City Press.—- United Nations Joint Staff Pension Funds.

    Fund.–$53 Billion.—– The spokesman FARHAN HAQ would not answer
    whether Investment chairman – IVAN PICTET had to quit —- after
    allegations made by some staff. —- “ once a crook always
    a crook” – so there.

    RAPHAEL.Q.C. — Peters & Peters.London. They were the banks

    Raphael.Q.C. along with Ivan Pictet withheld crucial documents
    requested by the High Court —- the FSA —- and the police Fraud
    Squad. —-so there.

    Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.

    Raphael.Q.C. became a Master of the Bench in Nov.2012.

    An expert in
    Fraud —the Doyen of Fraud Lawyers. —– so there.

    This says a lot
    about Banks — and their lawyers –the consensus of opinion is that
    they are highly paid “crooks” —- no wonder they voted Ivan
    Pictet banker of the year. — and Monty Raphael a Queens Counsellor
    – “crime does pay”?

    It appears that
    crimes in the “establishment.” are honoured by their peers.


    Full Story.—-
    “google ”

    Insert.—– The
    Crimes of —– Pictet & Cie Bank.


    Ivan Pictet/
    Monty Raphael Q.C.

  • jack loach

    Swiss Bank
    Accounts.—- July. 2015.

    Is your monies safe
    in these accounts —- definitely NOT.

    Would you get your
    money back if every body decided to withdraw all their accounts –
    NO WAY.

    Economic Experts
    say that there would only enough money to repay 50% of their clients.

    Are you going to be
    in the 50% — that loose your money.– Get it out NOW.

    2012 — – June.
    — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were
    sent false and fraudulent documents by Pictet Bank.Switzerland. in
    order to collect large fees. ( Like MADOFF) —Even after the SEC in
    the USA uncovered the fraud Pictet continued to charge fees and drain
    whatever was left in these accounts. Estimated that $90,000,000
    million lost in this Pictet Ponzi scheme.

    2012 – – – July.
    — De – Spiegel. — states – Pictet Bank uses a letterbox
    company in

    and a tax loophole involving investments in London to gain

    millionaires as clients.

    – – – August —- German Opposition Leader accuses Swiss Banks of
    “organised crime.”

    April 2015. —-
    Inner City Press.—- United Nations Joint Staff Pension Funds.

    Fund.–$53 Billion.—– The spokesman FARHAN HAQ would not answer
    whether Investment chairman – IVAN PICTET had to quit —- after
    allegations made by some staff. —- “ once a crook always
    a crook” – so there.

    the fines that crooked Swiss banks have incurred in the last few
    years exceeds £75.Billion.

    is also calculated that the secrecy ” agreements” with
    regards to tax evation by their clients will cost the banks another
    £450 Billion.( paid out of your monies.)

    banks are panicking — the are quickly restructuring their banks
    —- from partnerships —

    ” LIMITED COMPANIES.” —– this will probably mean that
    in the future — they could

    you only 10% of your monies ” if you are one of the lucky ones”
    —- and it be legal.