Tuesday, April 30, 2013

The Monarchs of Money ~ The Central Bankers





The world's central banks have printed unimaginable amounts of money in recent years. Neil Macdonald explores what this means for the global economy and for your financial well-being.
Power Shift: First in a series on the rise of the central bankers and the global imposition of cheap credit Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations. These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they co-exist. They are the world's central bankers. Every six weeks or so, they gather in Basel, Switzerland, for secret discussions and, to an extent at least, they act in concert. The decisions that emerge from those meetings affect the entire world. And yet the broad public has a dim understanding, if any, of the job they do. In fact, these individuals now wield at least as much influence over the lives of ordinary citizens as prime ministers and presidents