According to the Bank of International Settlements (BIS), the shadowy “central bank of central banks,” the world as it stands is incapable of combating another global financial crash – a crash that there is every reason to think is coming.

That’s because the economy remains in the hands of the Federal Reserve and other central banks. The financial wizards in THIS VIDEO went so far to say that “we are all slaves to the central banks.” It wasn’t exactly hyperbole.

According to the BIS, central banks have already “used up their ammunition” by driving interests to below zero, freezing investment for the important stuff like production and infrastructure, and instead fueling huge bubbles for wonder kids on Wall Street to play in.

Now, everything is basically teetering on the edge until the music stops. According to the BIS, it will soon be time to pay the piper – as “persistent ultra-low rates” are poised to unleash destruction upon the economy like King Kong set loose on Manhattan:

The BIS report described the threat of a new bust in advanced economies as a “main risk”, with many reaching the top of the economic cycle.

The economies worst hit by the last crisis are now suffering the costs of persistent ultra-low rates, the organisation said, which could “inflict serious damage on the financial system”, sapping banks and weakening their balance sheets and their ability to lend.

And worse, the advanced countries will be unable to fight back against the serious consequences, according to their 2015 annual report :

• Central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.

• Central banks may have contributed [to the coming crisis] by fuelling costly financial booms and busts and delaying adjustment.”

In past years, the BIS has painted a clear picture of the bleak financial landscape brought on by central bank policy since the 2008 crisis.

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It warned in 2013 that:

Fresh action from central banks to kick-start growth may do more harm than good, by distorting financial markets and jeopardising stability.

“Unfortunately, central banks cannot do more without compounding the risks they have already created.” (source)

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In 2014, it found that central banks have failed to achieve a recovery, and are incapable of doing so:

Robust, self-sustaining growth still eludes the global economy… Central banks cannot solve the structural problems that are preventing a return to strong and sustainable growth.

“Most of all, central banks cannot enact the structural economic and financial reforms needed to return economies to the real growth paths authorities and their publics both want and expect.”

“What central bank accommodation has done during the recovery is to borrow time … But the time needs to be used wisely, as the balance between benefits and costs is deteriorating.” (source)

Given the unique insider position of the Bank of International Settlements in the global financial power structure, these are foreboding words to be met with mature concern. This is a tacit admission that the powers that be know the next big crisis is around the corner, and they are ready to watch us drown in it – this time, without reaching down to offer us up.

Read more:

The End Game Has Arrived: ‘All Signs and Evidence Point to the Great Global Economic Reset’

Worst Case Scenario: Total Chaos… Followed By An International Intervention To “Save Us” From Ourselves

Stimulating growth threatens stability, central banks warn

Warning: too much finance is bad for the economy

Making the most of borrowed time: repair and reform the only way to growth, says BIS in 83rd Annual Report