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9 of 9 people found the following review helpful
5.0 out of 5 stars Essential reading to understand the euro crisis, 2 July 2013
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This review is from: The Tower of Basel: The Shadowy History of the Secret Bank That Runs the World: The Inside Story of the Central Bankers' Secret Bank (Hardcover)
This in-depth study, based on extensive archival documentation, surveys the history of the BIS, which until recently only a few financial experts had heard about. This institution, protected by extraterritorial privileges, can be seen as a forerunner of the European Central Bank, in that both are transnational banks free from "political interference" by the nations, which is Orwellian doublespeak meaning that they are private organisations operating outside of any democratic control or even accounting scrutiny by third parties, with an agenda of monetary manipulation (referred to in doublespeak as "stability") of national and international policies.
Historically, the BIS had strong links with both the US and National Socialist Germany and the latter's ideological and financial heirs in post-war Europe.
One critique that could be made is that the author could have cited more sources in languages other than English.
Early BIS documents reflect the longstanding paternalistic attitude of the banking elite, its dislike of disclosure and transparency, and its unwillingness to admit making mistakes even when these become self-evident.
Anyone who considers these conclusions to be somehow exaggerated should read the book for themselves.
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