THE MONEY MASTERS
impose
BASEL I, II & III on an unsuspecting world
Central Bankers’ Basel III scheme will worsen Worldwide Recession
BASEL I. In 1988 a faceless, unelected group of bankers met in Basel, Switzerland at the Bank for International Settlements (“BIS”) – the “Central Banker’s bank” which even Swiss authorities may not enter – and in their “Basel I accords” agreed to a set of minimum capital requirements (8%) for banks. This was a number fine for some banks, but higher than what was in place for France and especially Japanese banks. To raise more capital to reach the 8% level, French and Japanese banks had to reduce loans, causing a recession in France and a depression in Japan, one from which Japan has never fully recovered.
