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

Adam LeBor

Hardcover

ISBN 10: 161039254X ISBN 13: 9781610392549

Publisher: PublicAffairs,U.S., 2013

Synopsis

The inside story of the central bankers' secret bank is an 80 year history of an institution that was designed to escape public scrutiny and to emphasize discretion, even as it became a leading architect of the global financial system. It's the engine at the heart of the financialization of everything. Six times a year, the world's most powerful and exclusive club meets in an unexceptional office building in Basel, Switzerland. They are central bankers, the presidents of national banks, such as the US Federal Reserve, the Bundesbank of Germany and the Bank of England. They have come to Basel to attend the Global Economy Meetings at the Bank for International Settlements. The discussions at the BIS meeting, the information that is shared there, the deals that are brokered and the subsequent decisions that the bankers take, shape all of our lives. The main job of a central banker is coordinate interest rates, regulate credit and the money supply and, especially in these austerity-obsessed times, work to prevent inflation. In short: these men control fiscal policy in the developed world. That means that the men gathered at the BIS influence how much money we have in our pockets and bank accounts, how much that money is worth and how safe it will be. Central bankers now "seem more powerful than politicians," wrote the Economist, "holding the destiny of the global economy in their hands". The Economist understated the case. Thanks in part to the global financial crisis, the attendees at the BIS bi-monthly meetings have seen their power reach unprecedented levels. Central bankers now shape thedestiny, not just of their national economies and of the global economy, but of nations themselves.

About this title

Review:

Edward Lucas, author of "Deception: The Untold Story of East-West Espionage Today"""Tower of Basel" is essential reading. Meticulously researched and fluently written, it reveals a slice of the modern world's untold history--a gripping tale of covert networks, secret deals and unaccountable, powerful individuals whose decisions shape our lives."

Liaquat Ahamed, author of "Lords of Finance: The Bankers Who Broke the World""Adam LeBor has written an absolutely fascinating history of the BIS, perhaps the most enigmatic financial institution in the world. The story he unveils of the many skeletons in its closet and its astounding ability to remake itself periodically only add to its mystique.""

"Harold James, professor of history and international affairs, Princeton University, and author of "Making the European Monetary Union""Compelling reading --a masterly depiction of the role of the BIS in the Nazi period and Second World War."

Book Description:

The most volatile and exciting moments from the hit series with memorable quotes and images from all five seasons.

About this edition

• Publisher: PublicAffairs,U.S.
• Publication date: 2013
• ISBN 10: 161039254X
• ISBN 13: 9781610392549
• Binding: Hardcover
• Number of pages: 336