The Bank for International
Here's the lowdown: "The Bank for International Settlements (BIS) is an international financial institution which was established pursuant to the Hague Agreements of 20 January 1930. The headquarters of the bank are in Basel, Switzerland. The objects of the BIS, as laid down in Article 3 of its Statutes, are to promote the cooperation of central banks, to provide additional facilities for international financial operations and to act as trustee or agent for international financial settlements."
What confuses me is the profit and loss account. In 1998 the bank had a net profit of 259 million gold francs. "The unit of account of the Bank is the gold franc, which is equivalent to US$ 1.941 49 , Article 4 of the Bank's Statutes defines the gold franc as representing 0.290 322 58 grammes of fine gold." Forty-five central banks are currently members of the Bank. I don't understand how the bank made this profit and who gets it. Oh well, I'm not worried. Why? Looking over the Board of Directors list I spot a familiar name: Alan Greenspan from Washington, DC. They have a Web site: www.bis.org.