The Basel III Accords
Executive Summary
- This was passed by the BIS to punish smaller banks and favor larger banks.
Introduction
Basel III was “passed” by the Bank of International Settlements. The objective of Basel III is described in the following quotation.
“The proposed Basel III regulatory capital requirements are an immense and unnecessary burden that will actually threaten the existence of banks with under $1billion in assets. These new regulations will further drive consolidation into a few bigger banks. Some on Wall Street, like mergers and acquisitions expert John Slater, predict that Basel III’s compliance costs will lead to a merger boom, and that in the next 3-5 years 20-30 percent of all banks will merge, further consolidating wealth in fewer and fewer hands. That is the object – world bank/economic and hence political control by a handful of un-elected, unaccountable, international bankers beholden to no one, many of whom have ethics only Machiavelli could admire and worldviews that most people on earth would consider abhorrent.” – The Money Masters
“The Aldrich Plan (the first name for the US Federal Reserve Act) is the Wall Street Plan. It means another panic, if necessary, to intimidate the people. Aldrich, paid by the government to represent the people, proposes a plan for the trusts instead.” – AZ Quotes
Source: The Money Masters