There needs to be a system of oversight and checks and balances that monitors and corrects (as needed) The Bank for International Settlements, and its subordinate unit called the Financial Stability Board.
These organizations are making decisions behind closed doors that affect the economies of the nations of earth.
While the Bank for International Settlements (BIS) gives lip service to transparency, in fact the Board of Directors flies into Basel, Switzerland and meets behind closed doors every couple of months.
Policies are formulated that affect the economies of the entire planet. These policies are discussed and formulated in the least transparent environment imaginable.
The BIS needs to do more than give lip service to transparency. But in addition to that, and more importantly, the congresses and parliaments of the world need to take responsibility for the agreement that the various finance ministers and government officials signed on April 2, 2009. They need to put in place a representative international body that oversees the activities of these international bankers. They should not be left to conduct the planet’s financial matters in secret meetings out of the view of the general public.
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