The Role of the Bank of International Settlements in Finance

The way that I've described it, basically, is that you've just got a big stack of cash in a room. And occasionally people come in with a wheelbarrow and they dump more on it. Every once in a while, somebody else gets to walk in and put a little bit in their pocket. But mostly, the money doesn't leave the room. Mostly, the money just circulates around in the same hands.