The Shadow Banking Stealth Mutation: The Acronyms for the Next Financial Crisis

Thursday, February 20, 2014
By Paul Martin

By Gordon T. Long
GoldSeek.com
Thursday, 20 February 2014

According to the latest study by the Financial Stability Board (FSB) the unregulated $72 Trillion Global Shadow Banking System is now larger than the global regulated banking system. How could an unregulated and opaque industry, which is larger than the entire world’s GDP operate with such little attention? Even the FSB is not a government entity and operates under the auspices of an entity with a highly checkered and mysterious background – The Bank of International Settlements in Basel Switzerland.

The FSB has had only two Chairmen since its inception who were able to see the full extent of the operations of this global industry: Mario Draghi who is now head of the European Central Bank (ECB) and Mark Carney who is now the Governor of the Bank of England (BOE). Ben Bernanke’s wrote academically on the subject before being quickly catapulted to the Chairmanship of the Federal Reserve. Sounds like these are important qualifications if you are to run the world’s financial apparatus.

The Rest…HERE

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