While creating untold hardships to those who save.
These men and women are unelected and tend to shun the publicity hogged by the politicians with whom they co-exist.
They are the world’s central bankers. Every six weeks or so, they gather in Basel, Switzerland, for secret discussions and, to an extent at least, they act in concert.
Watch Neil Macdonald’s full documentary The Monarchs of Money tonight on The National at 10 p.m. /10:30 NT
The decisions that emerge from those meetings affect the entire world. And yet the broad public has a dim understanding, if any, of the job they do.
In fact, these individuals now wield at least as much influence over the lives of ordinary citizens as prime ministers and presidents.
Who are the world’s central bankers? Quietly, without much public fuss or discussion, a new ruling class has risen in the richer nations.