Tower of Basel

“An absorbing and thorough examination” of the Bank for International Settlements, “one of the world’s most important yet opaque institutions” (Reuters) The Bank for International Settlements is the bank for central banks. It is one of the world’s most secretive—and most influential—global financial institutions. Created by the governors of the Bank of England and the Reichsbank in 1930 and protected by an international treaty, the BIS and its assets are untouchable, legally beyond the reach of any government or jurisdiction. In the 1940s, under the supervision of an American banker, the BIS accepted looted Nazi gold, conducted deals for the Reichsbank, and was used by both the Allies and the Axis powers as a secret contact point to keep the channels of international finance open. Now updated with two new chapters on the BIS’s role in the development of Central Bank Digital Currencies and their disturbing implications for civil liberties and personal financial autonomy, Tower of Basel offers an incisive and enthralling picture of one of the most powerful financial organizations to ever exist.