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Rescooped by Val Samonis from Global Village
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Basel III: How The Bank For International Settlements Is Going To Help Bring Down The Global Economy

Basel III: How The Bank For International Settlements Is Going To Help Bring Down The Global Economy | Knowledge Management | Scoop.it

A new set of regulations that most people have never even heard of that was developed by an immensely powerful central banking organization that most people do not even know exists is going to have a dramatic effect on the global financial system over the next several years.  The new set of regulations is known as "Basel III", and it was developed by the Bank for International Settlements.  The Bank for International Settlements has been called "the central bank for central banks", and it is headquartered in Basel, Switzerland.  58 major central banks (including the Federal Reserve) belong to the Bank for International Settlements, and the decisions made in Basel often have more of an impact on the direction of the global economy than anything the president of the United States or the U.S. Congress are doing.  All you have to do is to look back at the last financial crisis to see an example of this.  Basel II and Basel 2.5 played a major role in precipitating the subprime mortgage meltdown.  Now a new set of regulations known as "Basel III" are being rolled out.  The implementation of these new regulations is beginning this year, and they will be completely phased in by 2019.  These new regulations dramatically increase capital requirements and significantly restrict the use of leverage.  Those certainly sound like good goals, the problem is that the entire global financial system is based on credit at this point, and these new regulations are going to substantially reduce the flow of credit.  The only way that the giant debt bubble that we are all living in can continue to persist is if it continues to expand.  By restricting the flow of credit, these new regulations threaten to burst the debt bubble and bring down the entire global economy. ...


Via Hal, Val Samonis
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Anthony M. Grimaldi's curator insight, July 17, 2013 9:35 PM

Austerity measures for central banks!

Rescooped by Val Samonis from Open Knowledge
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Knowledge Exchange - Metrics for Research Data

Knowledge Exchange - Metrics for Research Data | Knowledge Management | Scoop.it

This report presents a first landscape study of creating and promoting data metrics and the assessment of the use of datasets in scientific work as a tool to stimulate data sharing. This report will be of interest to all major stakeholders in science and research, such as individual scientists, funders, research institutions, universities and data centres. It provides them with more knowledge about tools to promote and reward data sharing and data publication within their scientific communities. In this landscape study, all major stakeholders have been considered in order to summarize the main views, problems and challenges that need to be tackled in the development of metrics for datasets, and in the generalization and promotion of data sharing activities.

 

The report has been written by Rodrigo Costas, Ingeborg Meijer, Zohreh Zahedi and Paul Wouters of the Center for Science and Technology Studies (CWTS). Leiden University.

 

Published 11 April 2013


Via Irina Radchenko
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