As Economy Heads to Another Crash, BIS Acknowledges: We’re FailingWorld’s Most Powerful Bank Reverses Course, to Avoid a Global Depression German Economic News, Translation (and closing Note) by Eric Zuesse|Published: 22:07:15 20:10 clock The Bank for International Settlements (BIS) acknowledges in its annual report that the policy of cheap money has failed. All the trillions in monetary stimulus have produced no growth in the real economy.