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'Switzerland is in a key position to play a revolutionary role in changing how global banking functions. In addition to being the world’s safest harbor for storing wealth, it is also home to the Bank for International Settlements (BIS), a shadowy private company owned by many of the world’s central banks, and acting as a lender to the central banks. The BIS is the very heart of global reserve banking, the policy that enables banks to lend money that does not actually exist in their bank deposits, but is instead literally created electronically from nothing whenever a bank extends a line of credit'.

[wakingtimes.com]

Jenna 7 Aug 12
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There's an old saying that if you owe the bank $150,000 and can't pay, then you have a problem. If you owe the bank $150 billion and can't pay, then the BANK has a problem.

I think the world's financial structure is stuck in the latter half of that saying. I think they're frantically juggling, trying to keep as many balls in the air as possible.

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"literally created electronically from nothing whenever a bank extends a line of credit'."

so it works exactly the same way as the USAs Federal Reserve - this is called "fiat capital".

Like tulips in old Netherlands it has no real value - only the value people abstractly place upon it. The only thing keeping it alive is that the "consumer" has not yet turned his head to see that the emperor has no clothes.

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