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Secret summit of top bankers (Sydney)

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posted on Feb, 6 2010 @ 03:09 AM
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THE world's top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets.

Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports.

Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.

Speculation that the chairman of the US Federal Reserve, Dr Ben Bernanke, would make an appearance could not be confirmed last night.



The event will be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India.


Source : news.com.au

Sorry if its been posted. I did a few searches but I couldn't find anything. Surprised me, I thought it would have been on here already.

Looks like we are getting ready to hit the second part of the foretold W recession.

The question is now... Will China let the EU, UAE and USA collapse, or prolong the inevitable?

My money is on China going in for the kill.

Hold on kids, its going to be a long bumpy ride.

[edit on 6/2/10 by beta.services]




posted on Feb, 6 2010 @ 03:18 AM
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Just thought I should point out some of the important parts of the article.


Organised by the Bank for International Settlements



believed to have been invoked by law enforcement agencies



The event will be dominated by Asian delegations



sparked by renewed concerns about global growth and sovereign debt



Dubai should have been an isolated incident and now we are seeing issues with Greece, Portugal and Spain.


Food for thought.



posted on Feb, 6 2010 @ 03:38 AM
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And nobody grabs the moment ?Justice it will be.

Anyone.

Thank you for keeping us posted.



posted on Feb, 6 2010 @ 04:28 AM
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Interesting development, particularly with Obama coming to Australia next month as well. No doubt to give Kevin Rudd his orders and directions for the next scene of the great play.

What could the next scene include. Hmmm, lets see. The next phase of the one world currency (previously touted to be overseen by the International Bank of Settlements); The next phase of total war requiring more military input from allies (worth a personal visit from POTUS as this is an election year in Australia, and sending more diggers off to die in an unpopular war is not a smart political move.) Perhaps to intercede with China on behalf of the US using Rudd's language skills and China ties.

Australian media obediently mute on both these issues at present.



posted on Feb, 6 2010 @ 05:19 AM
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Wow Australia seems to be a popular place at the moment.
Hillary was here not to long ago, now all the big bankers and soon Obama..... i sense a change lol



posted on Feb, 6 2010 @ 05:25 AM
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reply to post by wycky
 


She did not visit Australia, she canceled the visit.

I also find it odd that a secret meeting seems to be not so secret...



posted on Feb, 6 2010 @ 06:56 AM
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o.k
So I'm supposing all the frivolous posts re the op are due to ignorance,and I mean that in the lack of knowledge way, not a derogatory comment.
What those of you fail to realise is that Australia has been the guinea pig
for quite some time as a test bed for NWO intentions.
Easy going, accepting,relatively well off primary white population ,isolated from the world geographically and via MSM, colonial sentiment toward the "old world order"obvious now isn't it, has all the ingredients for a NWO playground .
Not that this is the same as the "soft porn" tests such as the airport body scanners ,the internet filtering etc, but you have to realise they choose this country for this "secret" meeting because it is most likely to be buried here newswise while sensationalised externally ,Watch this topic disappear in the MSM, watch EVERYBODY MISS a very important part of the beginning of the REAL financial global breakdown.
If you think this meeting does not affect you because you are east,west,or north of this continent,stop lolling right now and paaay attention.....this is where the REAL meltdown begins.
All you need to do is look at the financial headlines worldwide over the last two weeks added to due research of the ongoing scenario, and you will see the S is about to HTF, by July in my opinion , globally.
All these tinders awaiting a flame.
Well here comes the candle.
S+F to you OP, but maybe you should add this to global meltdown forum....you might get a discussion there of relevant importance to the event.

Wake up posters and read between the lines,
obviously this is no secret or meant to be.
Secret meetings are secret.... we don't get to know about them.
Secret meetings announced in public, are contempt for our intelligence,
,intentional fearmongery,generating confusing and doubt....in other words, mind manipulation.
Time to reach for critical thinking caps, you don't need a tinfoil one to see this is leading up to something, not justvfor Oz, but for us all.
We....humanity....not consumer sheep.



posted on Feb, 6 2010 @ 07:07 AM
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Originally posted by asIam
If you think this meeting does not affect you because you are east,west,or north of this continent,stop lolling right now and paaay attention.....this is where the REAL meltdown begins.


I disagree.
Australia had the strongest economy throughout the GFC, and is getting stronger thanks to the new mining boom.

Natural gas, coal, Iron ore exports are thriving, couple that with a AA rating on our big four banks, it's going to take a lot for a meltdown to begin here.



posted on Feb, 6 2010 @ 07:37 AM
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reply to post by Chadwickus
 


Man, with all due respect, please check the headlines as I asked before you respond to my post especially re China and where it stands both internally and in the global scene at the moment.
It's all a farce,come on , they spent more on stimulus than any other country re the financial crisis,and are poised to fare very badly when the U.S.A defaults on it's debts, which it will, hence all the posturing between u.s and china at the moment.
They aren't coming on heavy for no reason.
Australia sailing thru the global financial crisis for the last three years has been due to a) election hopes where Rudd was to us (in hope,having had enough of howard) as Obama was to americans,b) the belief of the australian public that investing in real estate is a guaranteed investment because house prices ALWAYS (??!) go up...... a myth perpetuated by Rudd's first home buyers incentive which has effectively doomed so many young people in our country as they got suckered in to buy a home which otherwise they would not have considered doing for a few years BECAUSE THEY KNEW it was beyond their means before the temptation was held on the end of a stick to them so as we would look good ,fine and solid as everyone else collapsed.
All that has happened from that is that our bubble grew bigger instead of popping like every where else.
Along with the fact, Rudd and MSM throw out the "America's best buddy",
"China will carry us through with commodity purchases" BS propaganda ,whichever suits in the moment to further their agendas,and make them look good.
Stop and think about it for a moment....
We can't be both good mates with the USA and China at once in today's global political climate, the day will come when we will have to definitively take a side above the political table,and our government will choose USA,
I don't see any Chinese secret bases here which Aussies aren't allowed to question or enter do you ?
And like I say, read what's going on internally in China at the moment
and you will see they are struggling.
I would post links to help but I am not on my computer just now and also about to go to bed.

However , if you wish, I shall gather and post links tomorrow to back up what I say, if you cannot find the info in the meantime through your own research.
cheers



posted on Feb, 6 2010 @ 09:02 AM
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reply to post by asIam
 


Sorry if you missed it asIam, but i posted it in Global Meltdown originally.

Obama and Hillary have both cancelled visits to Australia.

Kevin Rudd (Australia's PM) Was Obamas first official call after he gained office. After Obama received the call from McCain that is.

From memory, Australia has 5 of the original 7 US missile defence shield silos. (Background reference only)

Yes, they do test political ideals here. Like the Carbon Tax. They tried to pass it through parliament before Copenhagen. But it was denied here BTW. And is set to be the main election issue this year.

Interesting times ahead. I guess next week will be an interesting one.

I will try and you all posted.

[edit on 6/2/10 by beta.services]



posted on Feb, 6 2010 @ 04:14 PM
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yeah we spent a lot on our "stimulus" which now it seems is causing inflationary pressure and raising the reserve bank of austrlaias interest rates...which causes the other banks to raise thiers...



posted on Feb, 6 2010 @ 04:50 PM
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I very much doubt this meeting has anything to do with Australia per se. They just picked it because they had to pick some place. If they held it in Europe, people would freak out about the euro/Greek problems. If they held it in the US, people would freak out about "US hegemony." If they held it in Asia, people would freak out about "Growing Chinese dominance." So they picked one of the handful of relatively neutral places they could go. Close to Asia but with a mostly Caucasian population, far from any particular continent. Not easily accessible to hoardes of International prying eyes from the finanical press, like London or New York would be. Makes a certian amount of sense.

The real question is why so many financial movers and shakers are meeting so quickly and with such relative secrecy. WHERE they happen to be meeting is irrelevant.

I'm guessing this has to do with the PIGS financial situation in Europe, which is probably more serious than the press lets on. It's another massively destabilizing situation, like autumn '08.



posted on Feb, 6 2010 @ 05:35 PM
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Seems to me that Australia is being primed for wall street and corporate takeover. It's economy has done incredibly well during this global meltdown but now predatory eyes from around the world want what australias got. Part of the way to get it is for the aussie government to overspend on stimulus, while the banksters plan the crash of the australian dollar, so they can move in and take over the corporations for a bargain price.

Australia is a country well placed for the troubling times ahead. They have more resources than they need. It's a gigantic country with a tiny population. They have more than enough food and water (there's an ocean of water under there feet) for everyone. They have plenty of coast to build desalination plants that could 'green' the outback. They have many surpluses, they have masses of land, they have mineral deposits. Australia is a very nice prospect for the well-connected mega rich who move their money around like pieces on a chessboard.

[edit on 6-2-2010 by spookfish]



posted on Feb, 6 2010 @ 05:41 PM
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My guess,and I;m throwing it out there because I have been obsessing over this is that this is about the gold good delivery bars that are tungsten.According to my reading,this is about enough time for all the assayage to be complete,so the damage is quantified.Now the fireworks.



posted on Feb, 6 2010 @ 06:06 PM
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Perhaps the bird flu aerial spraying is about to begin in USA, Canada and Europe under the pretense that Muslims have released it in a bio-attack

The summit is just an excuse for the banking elite to keep out of harm's way. Murdoch has invited them over to make sure they are not accidentally 'depopulated'

Obama can't go there as it would look bad if he wasn't in the US during a crisis (false flag). He needs to be there to call for the 'forced vaccinations'. (with toxic sterilizing vaccine)

11th February is a potential date for this, expect to the attack to be 'traced to Iran'



posted on Feb, 6 2010 @ 06:32 PM
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I had never heard of the Bank for International Settlements prior to reading this article. So im going to share some of the background information I have found while researching it.


The Bank for International Settlements (BIS) is an international organisation which fosters international monetary and financial cooperation and serves as a bank for central banks.


The head office is in Basel, Switzerland and there are two representative offices: in the Hong Kong Special Administrative Region of the People's Republic of China and in Mexico City.


The growth and globalisation of financial markets during the final decades of the 20th century shaped the nature of central bank cooperation at the BIS. The BIS has assisted – and continues to assist – the pursuit of global monetary and financial stability in two main ways:

by providing emergency financial assistance to central banks in case of need; and

by supporting experts from national central banks and supervisory agencies in proposing measures and developing standards aimed at strengthening the international financial architecture, and in particular international banking supervision.


The growth of international financial markets and of cross-border money flows in the 1970s highlighted the lack of efficient banking supervision on an international level. National banking supervisory authorities basically regulated domestic banks and the domestic activities of international banks, while the international activities of these banks were not always closely supervised. The collapse in 1974 of Bankhaus Herstatt in Germany and of the Franklin National Bank in the US prompted the G10 central bank Governors to set up the Basel Committee on Banking Supervision.

In 1988 this Committee issued the Basel Capital Accord, introducing a credit risk measurement framework for internationally active banks that became a globally accepted standard. A revision of this Capital Accord, known as Basel II, is being implemented worldwide. Such standards aim to achieve a better and more transparent measurement of the various risks incurred by internationally active banks, limiting the possibility of contagion in case of a crisis and strengthening the global financial infrastructure overall.


www.bis.org

The last paragraph seems pretty important to me.

So lets take a look at the Basel II accord


Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II, which was initially published in June 2004, is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risks banks face. Advocates of Basel II believe that such an international standard can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. In practice, Basel II attempts to accomplish this by setting up rigorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices. Generally speaking, these rules mean that the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability.


en.wikipedia.org/wiki/Basel_II_Accord

Continued..



posted on Feb, 6 2010 @ 06:33 PM
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So they had a plan for all of this in 2004.

Once again, the things that stick out to me are:

problems that might arise should a major bank or a series of banks collapse


ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices


So that didn't work out so well.

I guess this brings us back to why the BIS is holding a meeting with the central banks.

Is it to find out why the Basel II didn't work? Is it because the US Federal Reserve didn't comply?

Maybe i'm reading too much into this, but the Federal Reserve Board has not issued any releases regarding the Basel II Accord on their official site since mid 2008.

www.federalreserve.gov

Maybe someone who knows more about this can share what might be going on?




[edit on 6/2/10 by beta.services]



posted on Feb, 6 2010 @ 07:27 PM
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Basel II is simply a capital framework for banks that replaced existing frameworks and was designed to harmonise banking regulations around the world. The basic framework is generic, with some specific alterations by an individual country to suit local circumstances.

The reason you dont hear about Basel II when US banks are discussed is because the US has not implemented the Basel II capital regime.

The BIS is the central bank for central bankers, thats the easiest way to describe it. Most people havent heard of it because unlike a country's central bank they dont set interest rate policy etc, and its role is a commercial/whoelsale one so unless you are in the industry you wont be familiar with it.

Its not necessarily that Basel II didnt work (ie Australia has implemented Basel II, and the local banks were fine compared to EU/US banks). Because you had a lot of financial instruments that were classified AAA even though they were junk, even under Basel II you wouldnt have to hold much capital against those. Also, the other capital requirements (like those for operational risk) all rely on the original risk measurement to be accurate. if it isnt any capital framework will fail.



posted on Feb, 6 2010 @ 09:05 PM
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Originally posted by wycky
Wow Australia seems to be a popular place at the moment.
Hillary was here not to long ago, now all the big bankers and soon Obama..... i sense a change lol


Not to mention Prince William and his butkissing tour. Seems like suddenly a lot of people feel the need to increase their popularity for some reason.



posted on Feb, 9 2010 @ 02:58 AM
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Seems who organised this whole thing has changed.
According to Reuters the Reserve Bank of Australia organised this...
all seems fishy

>>Speaking at a symposium of central bankers organised by the Reserve Bank of Australia (RBA), Caruana said the response to the global financial crisis had left things worse in some ways.

original article
in.reuters.com...


Originally posted by beta.services
Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.




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