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A group of four high-class private schools in New York City is owned by a company that is run by a man identified as a senior member of the Chinese Communist Party (CCP). According to the New York Post, the Basis Independent Schools (BIS) district has two campuses in Manhattan and another two in Brooklyn. The district charges as much as $44,500 a year in tuition, and promotes itself as a district that produces graduates who “gain entry into some of the world’s most prestigious colleges.” The district consists of a Pre-Kindergarten to Second Grade school in downtown Brooklyn, a...

William White, chairman of the Economic and Development Review Committee at the OECD and former chief economist at the Bank for International Settlements (BIS), says the risks posed by global debt levels are greater today than they were in 2007 and that central banking monetary policy has lost its effectiveness. He also explains the crucial differences between modern macroeconomic modeling and complexity theory (or viewing the economy as a complex adaptive system) and the key lessons this has for policymakers, both fiscal and monetary. Here's a portion of his recent interview with Financial Sense airing Friday on the Newshour page:...

The warnings are getting louder. Is anybody listening? For months, I have been documenting on my website how the global financial system is absolutely primed for a crisis, and now some of the most important financial institutions in the entire world are warning about the exact same thing. For example, this week I was stunned to see that the Telegraph had published an article with the following ominous headline: “$3 trillion corporate credit crunch looms as debtors face day of reckoning, says IMF“. And actually what we are heading for would more accurately be described as a “credit freeze” or...

Global debt levels are dangerously high and central banks cannot keep the game going indefinitely, warns the high priest of orthodoxy Debt ratios have reached extreme levels across all major regions of the global economy, leaving the financial system acutely vulnerable to monetary tightening by the US Federal Reserve, the world's top financial watchdog has warned. The Bank for International Settlements said the wild market ructions of recent weeks and capital outflows from China are warning signs that the massive build-up in credit is coming back to haunt, compounded by worries that policymakers may be struggling to control events. "We...

The background: On April 21, 2001, the CIA's liaison officer at the U.S. Embassy in Prague was briefed by the Czech counterintelligence service (known by its Czech acronym, BIS) about an extraordinary development in a spy case that concerned both the United States and the Czech Republic. The subject of the briefing was Ahmad Khalil Ibrahim Samir al-Ani, the consul at Iraq's embassy in Prague. .... So when al-Ani replaced Salim at the Iraq Embassy in Prague in 1999, both the United States and the Czech Republic wanted him closely watched in case he had a similar assignment. The BIS...

INTELLIGENCE agents from Prague to Swansea are uncovering a trail of clues that point to President Saddam Hussein of Iraq having a hand in al-Qaeda’s terrorist missions. Iraqi ministers have spent the week protesting Baghdad’s innocence to the United Nations, but will not say why some of its diplomats who met Mohammed Atta, one of the suspected September 11 hijackers, disappeared from their European posts after that date. Nor will Baghdad explain why Saddam’s agents were spotted at various times this year with Atta in Germany, Spain, Italy and the Czech Republic. Many in the Pentagon are sure Saddam ...

Show trial of Swiss whistleblower Elmer now in 9th year "Ex-Swiss Banker Charged With Giving Data to WikiLeaks" (prohibited Bloomberg article, find in Search) …a Swiss court fought back against efforts by the United States to tackle criminal activity and tax its wealthy citizens properly. As Worldwide Tax Daily reports:“A Swiss court on January 6 held that Switzerland’s Federal Tax Administration (FTA) “unlawfully granted” a U.S. request for client data from private banking group Julius Baer, saying it did not meet the requirements for an administrative assistance request under the Switzerland-U.S. income tax treaty.”This is the latest episode in a...

And you thought that last global financial crisis was bad. A report issued on Sunday by the Bank for International Settlements (BIS) warns that policymakers have failed to address the root problems that caused the 2007-2008 financial meltdown. Instead of taking a long-term perspective aimed at increasing real economic productivity and output — the kind that actually benefits people by raising living standards — government officials have sought to pump up the numbers through monetary and fiscal stimulus. As a result, we now have an alarming disconnect between the performance of global equity markets, which are booming, and an underlying...

Karen Hudes is a graduate of Yale Law School and she worked in the legal department of the World Bank for more than 20 years. In fact, when she was fired for blowing the whistle on corruption inside the World Bank, she held the position of Senior Counsel. She was in a unique position to see exactly how the global elite rule the world, and the information that she is now revealing to the public is absolutely stunning. According to Hudes, the elite use a very tight core of financial institutions and mega-corporations to dominate the planet. The goal is...

On June 17, Barack Obama had one of his most awesome reality TV events of the year when he fired central bank chairman Ben Bernanke on PBS with liberal mope and host Charlie Rose moderating. “He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward,” said former Fed Governor Laurence Meyer, in an interview on CNBC the next day. And the bankers have been in revolt ever since. The government, meanwhile, has revised the economy’s performance downward. The newest do-over by government economists comes three months after they gave the economy one of the...

June 24, 2012, 11:30 AM ET BIS Official Warns of Central-Bank Overreach Jaime Caruana, general manager of the Bank for International Settlements and former governor of the Bank of Spain, warned Sunday that the recent aggressiveness of the world’s central banks may be creating “unrealistic expectations” about their power to “resolve the fundamental problems that hold back sustainable growth” and argued that more central bank action poses unwelcome risks. “Monetary policy can buy time needed for other policies to correct fundamental balance sheet problems,” he said, according to the prepared text of remarks to be delivered in Basel, Switzerland, at...

The Bank for International Settlements in Switzerland has just published its annual report, and it is a dour document. The BIS was created in 1930 to handle post-World War I reparation payments from Germany to Britain and France. The Great Depression ended reparations, and now the BIS provides sober commentary on the global economy. Its latest report oozes foreboding: • On government debt: "The market turbulence surrounding the fiscal crises in Greece, Ireland and Portugal would pale beside the devastation that would follow a loss of investor confidence in the sovereign debt of a major economy." • On the need...

Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank - this before they even had a government. Robert Wenzel wrote in the Economic Policy Journal: I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences. Alex Newman wrote in the New American: In a statement released last week,...

b>Conference focuses on creating "architects of change (LOL) California first lady Maria Shriver will host the annual Women's Conference beginning Sunday in Long Beach, with the event featuring more than 140 speakers and participants, including Oprah Winfrey, first lady Michelle Obama and second lady Dr. Jill Biden. The event, which runs from Sunday to Tuesday, is expected to attract 30,000 participants to the Long Beach Convention Center. Among the speakers expected to take part are Erin Brockovich, Campbell Brown, Deepak Chopra, Giada De Laurentiis, Linda Ellerbee, Sally Field, Jane Fonda, Ruth Bader Ginsburg, Arianna Huffington, Billie Jean King, Matt...

Sovereign debt crisis at 'boiling point', warns Bank for International Settlements The Bank for International Settlements does not mince words. Sovereign debt is already starting to cross the danger threshold in the United States, Japan, Britain, and most of Western Europe, threatening to set off a bond crisis at the heart of the global economy. By Ambrose Evans-Pritchard, International Business Editor Published: 6:31AM BST 08 Apr 2010 Bond investors are waiting for Governments to lay out clear plans for deficit reduction "The aftermath of the financial crisis is poised to bring a simmering fiscal problem in industrial economies to the...

Industrial world underestimates state debt: BIS 6 Apr 2010, 2030 hrs IST,AGENCIES GENEVA: Industrialised economies face a worse public debt problem than reflected by official data because spending for ageing populations will raise debt further, research by the central bank body BIS shows. "Fiscal problems confronting industrialised economies are bigger than suggested by official debt figures that show the implications of the financial crisis and recession for fiscal balances," said the economists at the Bank for International Settlements, the bank for central banks. "As frightening as it is to consider public debt increasing to more than 100 percent of GDP...

William White predicted the approaching financial crisis years before 2007's subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy. William White had a pretty clear idea of what he wanted to do with his life after shedding his pinstriped suit and entering retirement. White, a Canadian, worked for various central banks for 39 years, most recently serving as chief economist for the central bank for all central bankers, the Bank for International Settlements (BIS), headquartered in Basel, Switzerland. Then, after 15 years in the world's most secretive...

The Bank of International Settlements (BIS) is warning that the global economy could be on the brink of a major depression similar to the one that passed in the 1930s. The BIS said that years of loose monetary policy have fueled a dangerous credit bubble leaving the global economy more vulnerable to an economic catastrophe than is generally understood. In its 77th Annual Report for the financial year April 1, 2006-March 31, 2007 that was submitted to the BIS' annual general meeting held in Basel on June 24, the BIS - which one source described as "the ultimate bank of...

Carol Weihrer talks to a group at the Trinity Methodist Church, in April in Virginia. Weihrer is speaking out about anesthesia awareness after her experience of feeling her surgery under general anethesia during an eye operation. Linda Spillers / AP file MCLEAN, Va. - The pain in Carol Weihrer’s eye was so severe she decided to have it surgically removed, believing it was the only way to get on with life.Instead, the surgery was the beginning of an unending nightmare. Her anesthesia failed, leaving her awake but paralyzed for a five-hour surgery in which doctors cut and gouged to...

The Saddam-9/11 Link Confirmed By Laurie Mylroie FrontPageMagazine.com | May 11, 2004 Important new information has come from Edward Jay Epstein about Mohammed Atta’s contacts with Iraqi intelligence. The Czechs have long maintained that Atta, leader of the 9/11 hijackers in the United States, met with Ahmed al-Ani, an Iraqi intelligence official, posted to the Iraqi embassy in Prague. As Epstein now reports, Czech authorities have discovered that al-Ani’s appointment calendar shows a scheduled meeting on April 8, 2001 with a "Hamburg student." That is exactly what the Czechs had been saying since shortly after 9/11: Atta, a long-time student...