Friday, May 27, 2011

Global government

This is from the Financial Times, which goes on to tell us that the Basel Committee on Banking Supervision agreed last year to tighten the definition of capital and require all banks to maintain core tier one capital equal to 7 percent of their assets, adjusted for risk.

But, the newspaper blithely tells us, "it is up to national regulators and the European Commission to implement the rules", adding that a regulator involved in the Basel process said that if the two exceptions stand "it would be a violation of the global agreement" and would undermine the international effort to make banks safer.

So, you might ask, who or what is the Basel Committee on Banking Supervision. The answer is simple: These are your masters. You want global government, it is there, hidden in plain sight.