FleeceBook: Meet Benoit Gilson, Head of Foreign Exchange & Gold At The BIS

Tyler Durden's picture

We are happy to announce that starting today, and going forward every week, as part of a new feature dubbed, appropriately enough, FleeceBook, we will introduce our readers to one, previously largely unknown member of the ruling banker aristocracy: an individual who is as far from the glamor of the daily media headlines as possible: just the way they like it, and just the way the co-opted media will agree to have it. We hope that by the end of the series, these individuals - all of them perfectly law abiding citizens of their various jurisdictions, at least under conventional legal terms - will form a tapestry of what really happens behind the scenes, especially in a context such as that presented yesterday, where we found that no matter how guilty beyond a reasonable doubt a member of the political-financial elite is, hell would have to freeze before any legal action is taken (for reference, please see the very underrated movie The International). For our inaugural edition on FleeceBook, which will compile various public profiles already posted elsewhere, we present Benoît Gilson, Head of Foreign Exchange & Gold, which he describes as "a really special place to work because it is a link between the markets and the central banks." In other words if confused why gold is imploding on any/every given day, and/or why the EUR is soaring on news of a failed ECB sterilization, now you know who to thank.

From the BIS (highlights ours)

Profile: Benoît Gilson
 
Position: Head of Foreign Exchange & Gold

The BIS is a really special place to work because it is a link between the markets and the central banks. This means that I can work in the markets, as I was doing before, while taking a central bank perspective. I find it very interesting to talk to the central bankers who call us for advice, information and market liquidity summary, and I love having a foot in both camps.

As we act as market-makers for BIS products in currencies and gold, we maintain relationships with all market counterparties to ensure sufficient liquidity for our customers and appropriate hedging instruments. We are focused on central banks and international institutions, helping them implement foreign exchange interventions, build their reserves, diversify their portfolios or modify their reserve currency allocation. We can also help them to manage their gold reserves. Of course, many of the issues we deal with are highly confidential, so discretion is very important.

Working here has many advantages in terms of lifestyle. While you don't earn the kind of huge bonuses you could in London, you get exposure to some of the most interesting people in the industry. The selection process here is pretty tough, so you automatically have good people around you and can get involved in some challenging debates.

I have to say that I really enjoy Basel too. I was working in Luxembourg before, which was another wonderful small city. In Basel, I can go home and be running alongside the Rhine and watching the sun set in 10 minutes. And, of course, you often encounter your colleagues out and about, which fosters a very friendly working environment. The senior managers here go out of their way to be accessible, so if you see them in the supermarket you can be sure that they'll have a chat with you.

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DoChenRollingBearing's picture

Tyler Durden!  Please do as the newspaper in New York state did re gun owners:

Publish their addresses!

CH1's picture

Tylers can't do everything. Step up and see to it yourself.

Max in St Moritz's picture

 

 

Maybe for the next installment, ZeroHedge can do an expose on all the silver pumpers who cluelessly encouraged investors to buy "with both hands" when silver was near $50 and supposedly heading toward $500. A quick perusal through many of the popular precious metals blogs and it appears that all the hype and hyperbole created hundreds of bagholders for no good reason.  

Not trying to be a jackass, but sometimes I think the doomer community needs a look in the mirror.  

nope-1004's picture

Your anger toward people choosing an alternative currency to hold shows how the manipulation antics by CB's aren't working as good as they should.  Are you mad at people that finance a new car instead of buying a used one too?  They incur higher depreciation.... more of a "bag"....

Anyone holding US treasuries doesn't need to "try to be a jackass", they already are.  LOL.  Those are the real bag holders.

 

DoChenRollingBearing's picture

+ 1  

I would rather be holding a bag of PMs than a bag of Treasuries...

knukles's picture

I'd just rather not get caught holding the bag....

BC6's picture

The idea of exposing the entire "bankster tapestry" is one of the reasons i enjoy this site.

I can hardly wait for the day when we storm their castles.

 

 

Jack Napier's picture

I don't recall anybody encouraging people to buy silver with both hands when it was upwards of $50. Even if some had, when all is said and done $50 will be very cheap. It's not a doomer play. It's about having freedom from the vipers, an exit strategy from the global ponzi charade. A small price to pay at any cost.

TwoShortPlanks's picture

Wow, Tyler/s went straight to the naming of one of the Emperor's Council of Mordor....the BIS's Gold laundering function.

Well done!

GetZeeGold's picture

 

 

Just out of curiosity.....who owns the BIS again?

TheFourthStooge-ing's picture

.

Just out of curiosity.....who owns the BIS again?

White Spiritual Boy, or so I've heard.

Titus Flavius Caesar Vespasianus Augustus's picture

I don't think Goldman Sachs, et al, are "suckers" for taking their free money and investing in treasuries - making a nice, tidy profit.

 

Why do you?

lasvegaspersona's picture

nope

You are not doing yourself any favors 'choosing an alternative currency'. Relax. Keep your metal as a store of value and use the fiat until it doesn't work any more. You are swimming upstream trying to get 'the people' to want a 'harder currency'....they never have and they never will. They love fiat that slowly depreciates (emphasis on slowly, too fast and they will panic) and allows them to pay off their mortages and other debts with currency of lesser value. We have been doing this for about 300 years, maybe more. Future systems will not doubt include a fiat but if ewe are lucky they will keep the metals out of the equation and let themarket determine their value.

Titus Flavius Caesar Vespasianus Augustus's picture

That's fair enough, although you may look into how much silver a single dollar could buy you over, say, the past 20 years.

 

And it's worth wondering if gold and silver prices aren't being more or less artificially manipulated down - for various reasons I think they are, but thinking it isn't the same as being able to prove it.

XitSam's picture

Only near-sighted a bag holder valuing it in FRNs would care. What I purchased at $40 still weighs the same.

mkhs's picture

But you would have more if you bought at 30.

SafelyGraze's picture

Maybe for the next installment, ZeroHedge can do an expose on all the fiat pumpers who cluelessly encouraged investors to buy "with both hands" when fiat was near 150 ml of Barton Vodka and supposedly heading toward 200 ml.

Of course now it's down to only 125 ml.

A quick perusal through many of the popular electronic fiat blogs and it appears that all the hype and hyperbole created hundreds of bagholders for no good reason.

sometimes I think the bullpaper community needs a look in the mirror.

roymunnson's picture

Uhhhh..you do realize that by posting the adresses of gun owners you are also posting the addresses of non-gunowners?

 

Maybe not the best idea.

 

 

 

Bob Sacamano's picture

Good post. 

It might be easier just to post the unarmed addresses (aka gun free zones).  Very helpful to the bad guys.

Muppet Pimp's picture

That is precisely what they did.  Home invaders in the NY area now have a GIS app that allows them to see if potential candidates have guns or not.  This is a boon to the NY home invasion industry, and for that my criminal friends in NY thank them.  Well played sirs.

knukles's picture

Yes, as in the spiritual axiom that if something's bothering me, there's a problem with me, not the other....

Why would the folks from the paper care, right?
I'd think they'd want to stand up and be counted in their great social quest for a more uniform, fairer, safer society.

(snarc)

knukles's picture

Wait....
Most guns owned in this country are not registered.
I'm a talkin' about shotguns, rifles....
And many jurisdictions have no requirement to even register handguns.
And many places, if you own the stuff you aren't required to register the guns or yourself if just held in the home and transported in a certain manner.

May be a bit of a surprise for some folks, but ah, that stuff in the paper was for carry, primarily....

Like, let's look at some figures out in the public domain.
Let's use guns and the NFL.  Such a standard of comparison.

Somebody once wrote about NFL players, that 70% are convicted felons.
Another article once noted that about 70% of NFL players own guns.
Now, by my math, that means that approximately 50% of the NFL felons own guns and by some sneaking feeling I got, means there ain't been no registration of any kind.

Now, why would I think that be abnormal?

Just thinkin' to myself out loud.

USS Bernanke's picture

Working here has many advantages in terms of lifestyle. While you don't earn the kind of huge bonuses you could in London, you get exposure to some of the most interesting people in the industry.

 

Tears weep from my eyes for this man's brevity and sacrifices he makes for the people.

mkhs's picture

And, of course, you often encounter your colleagues out and about, which fosters a very friendly working environment. The senior managers here go out of their way to be accessible, so if you see them in the supermarket you can be sure that they'll have a chat with you.

Wow.  It must be me, but I only tolerated the schmucks because I was at work.

mccoyspace's picture

What do they say to each other at the supermarket? Something like: "Stock up, because after our next 'intervention' the prices around here are going to double!"

Stackers's picture

How nice. They have their own little oligarch village.

sgt_doom's picture

What was it that journalist Epstein called it back in 1983?  A club within a club?

The International, one of my top ten movies of all time, Clive Owens and Naomi Watts' understated performances were outstanding along with their superlative script.

Another of my top ten and the very best Roger Moore movie:

ffolkes

http://www.youtube.com/watch?v=J4hHezVNRc8&feature=player_embedded

wandstrasse's picture

I am quite certain that when I am going to hell some day, Benoit and the other fleecebook members will be in priviledged hell-lounges, with bearable temperatures, where they have exclusive, regular meetings with Satan. The average damned inhabitant like myself will hardly ever meet or see them, just rumours.. whoa, I heard Benoit spoke with Satan about new ways of torture etc...

DoChenRollingBearing's picture

Save me a spot next to the furnace, OK?

I'll do the same if asked.   Thx!

JOYFUL's picture

Imagine bumping into Number 6 whilst shopping in "the village"...

Nice to see you Benoit. How is the wife? Nancy isn't it?

Yes sir, very fine. We've been thinking of taking a weekend trip to Campione. Get away, smell the roses, you know, that kind of thing.

Oh. I see....Benoit, do you know, you can't actually leave the village, you see. You do understand nést pas?

Oh. Yes, yes of course. I see. Really, I do. It's no problem sir. None at all. We like it very much here!

 

knukles's picture

"Of course, many of the issues we deal with are highly confidential, so discretion is very important."

"And that's why I post everything on Facelook.  Or whatever it's called.  Why, I even come home from the supermarket and find my boss in bed with my mistress, my wife, the midget, underage children and animals.  It is such a convivial place.  Why we've even taken to counting gold bars impressed with Nazi symbols in those secret vaults during cocktails and hors d'oeuvre before the initiation ceremonies.  Why the secret police/border patrol even facilitate the international movement of contraband for governmental agencies world wide, so the international exposure and stimulation is marvelous.  And the S&M sex clubs in Basel are absolutely first class."

DaveyJones's picture

I hear they prefer under age to the midget. Something about vocabulary and the debt

francis_sawyer's picture

Look at that beak... & don't stare into those lizard eyes or you'll turn to stone...

dick cheneys ghost's picture

The University of ZeroHedge never disappoints.............looking forward to this series!!

Schmuck Raker's picture

Tyler, perhaps you should add "FleeceBook" as a tag term.

Just a thought.

MrBoompi's picture

Trust me, we keep a "foot in every market" and intervene whenever necessary for your own good!

 

 

Muppet Pimp's picture

'markets' aka perception management tools

CH1's picture

THANK YOU TYLER!!!!

caShOnlY's picture

Fuck you BENWAH!

Motorhead's picture

"Benedict", just like that German dude in The Holy See.

mkhs's picture

Oh, I was thinking of Arnold.

Glass Seagull's picture

 

"I love slamming metal futures down in a low-liquidity environment, and then aggressively procuring the physical for my customers."

DaveyJones's picture

Jesus, look at that face. You always know you're in trouble when they use the word "special."

knukles's picture

Vive la Frogs
Understated self puffery.... "the bonus isn't as big as I'd get in London..."

Horseshit.  If you could be in London, you would be in London, you reptilian blood sucker.  And if you're discreet enough, you may get a job offer somewhere they pay real fiat and can stop the self aggrandizement...
Your boss, co-worker and family have likely sicked of your false pride and attend 12 step programs to cope with your shit.
Looser

 

Just wait'll your bosses bosses boss sees this shit...
And no "I don't know how it got there, the dog musta butt dialed my smartphone to post it" ain't gonna work.
Tell him you're addicted to opiates so all he does is send you to a recovery center....  Get off cheap....

Titus Flavius Caesar Vespasianus Augustus's picture

You're becoming one of my faves, but look, I bet if you asked the bloke how he sleeps at night, he'd give you the classic Rainier Wolfcastle answer:   On top of a pile of money with many beautiful ladies.

gckings19's picture

"The selection process here is pretty tough, so you automatically have good people around you and can get involved in some challenging debates."

Translation....you cannot get a job here unless you are very politically connected , so i am grateful to my parents and grandparents for being political insiders.  And the people around me come form the same privilege.  we are the elites and look down upon everyone else.

chubbyjjfong's picture

When these fucking pompous twats block up their toilets with shit that they have shovelled all day long, they stil have to call a plumber.  Go fuck yourself Benoit or whatever your fucking ludicorus French sounding piece of shit name is.

Dr. Engali's picture

Zero Hedge...exposing more cockroaches every day.I hope the Tylers are held up in a secure location.