How AI & Algorithms Control Global Money: The Agustín Carstens Blueprint

Agustín Carstens headed the Bank for International Settlements using data-driven algorithms to control global finance. Here's how AI and automation are reshaping central banking, debt management, and the future of money itself.

YEET MAGAZINE

04 Oct 2025 • 5 min read

By YEET Magazine Staff, YEET Magazine
Published October 4, 2025

Agustín Carstens is the economist who ran the Bank for International Settlements (BIS)—basically the central bank's central bank—until mid-2025. But here's the real story: he's been using algorithmic systems, real-time data feeds, and automated surveillance to track and shape how trillions move across borders. His work at BIS shows how AI and automation now control the world's money supply, not politicians or individual bankers.

"Markets are already waking up to the fact that some paths are not sustainable." — Agustín Carstens Reuters
"As we gather here today, we find ourselves at a crossroads … the global economy was at a 'pivotal moment'." Bank for International Settlements

Tags: Agustín Carstens, BIS, central banking, AI in finance, algorithmic money, global economy, automated debt systems

Who Is Agustín Carstens—And Why Does AI Put Him in Power?

Full name: Agustín Guillermo Carstens Carstens
Born: June 9, 1958, in Mexico City
Education: BA in Economics (Mexico), MA (1983) and PhD (1985) in Economics from the University of Chicago

He's an economist who rose through Mexico's central bank, then landed the top job at the BIS in December 2017. The BIS is where central banks worldwide deposit reserves and coordinate policy. In practice, it's the institution most responsible for automating global finance through data networks, real-time settlement systems, and algorithmic risk assessment.

The AI Behind His Power: How Algorithms Shape Global Money

Carstens didn't invent automation at BIS—but he supercharged it. Here's what happened on his watch:

Real-time data surveillance: The BIS runs systems that track cross-border payments instantly. Machine learning models flag suspicious activity. Banks can't move large sums without triggering algorithmic checks. This isn't human oversight anymore—it's automated.

Algorithmic debt management: BIS uses predictive algorithms to assess which countries are headed for financial crisis. These models influence interest rates and policy recommendations. Carstens championed this approach: data first, human judgment second.

Automated settlement systems: SWIFT, TARGET2, and other networks that move trillions daily operate on algorithms. Central banks coordinate through automated channels. Speed matters—humans can't keep pace. Carstens oversaw institutional policy for these systems.

Central Bank Digital Currency (CBDC): Under his tenure, BIS became the hub for designing CBDCs—fully programmable digital money. Think: a currency that can be automated to expire, restrict purchases, or redistribute wealth algorithmically. This isn't science fiction. It's in development across 114 countries right now.

His Career: The Rise of Algorithmic Finance

1980s–2000s: Bank of Mexico — Started in research, moved into international finance. Learned how to build centralized systems for tracking money flows.

2003–2009: IMF Deputy Director — Worked on financial crises using data models. Pushed for more automated early-warning systems.

2010–2017: Mexico Central Bank Governor — Ran the central bank during the crypto boom and fintech explosion. Implemented automated reserve management.

2017–2025: BIS General Manager — The top job. Oversaw global coordination of central banks, pushed CBDC development, expanded real-time payment networks, and championed algorithmic risk assessment. This is where his influence peaked.

What He Actually Did at BIS: The Automation Era

The BIS publishes "Basel Accords"—rules that govern how much capital banks must hold. These are written in algorithmic terms. Under Carstens, these rules became more sophisticated, automating how banks assess risk.

He also pushed the BIS Innovation Hub, which experiments with AI, blockchain, and automated finance. The goal: make global payments instant, traceable, and programmable.

His big speeches warned about unsustainable debt. The solution? Not human restructuring—algorithmic redistribution. Real-time data feeds. Automated policy responses. This is technocratic control dressed up as market efficiency.

The CBDC Question: What's Actually Coming

CBDCs are digital money issued directly by central banks. Unlike Bitcoin, they're fully controlled by algorithms and governments. They can:

Expire automatically (negative interest rates built in)
Restrict where you spend them (only approved vendors)
Track every transaction in real-time
Be programmed to redistribute automatically

Carstens has been vocal about CBDCs. His position: they're not optional. They're the future. And they require the kind of automated, centralized infrastructure that BIS builds.

Why This Matters for Your Wallet

Today, your money is mostly digital anyway. But you still have some choice—cash, multiple banks, crypto. CBDCs remove optionality. Your money lives in an automated system. The algorithm decides what's allowed.

Carstens stepping down in 2025 doesn't change the trajectory. The infrastructure is built. The next BIS leader will inherit a system where AI, not humans, allocates capital globally.

The Future of Work Angle: Jobs Being Automated

Here's what AI is already doing to banking jobs:

Traders: Algorithmic trading now dominates markets. Most transactions are bot-to-bot. Human traders are redundant.

Risk analysts: Machine learning models now predict default risk better than humans. Entire departments being eliminated.

Compliance officers: Automated surveillance catches violations. Fewer humans needed to watch the watchers.

Loan officers: Credit scoring is fully algorithmic. Humans rubber-stamp decisions made by data models.

The BIS doesn't just control money—it controls the institutions eliminating jobs through automation. Carstens' tenure accelerated this shift.

What's Next After Carstens?

The BIS keeps running. CBDCs keep rolling out. Automation deepens. The next general manager will be even more tech-focused, probably. The trajectory is locked in: toward fully digital, traceable, programmable money managed by algorithms.

Carstens is stepping back. But the systems he championed will outlast him by decades.

Questions People Actually Ask About This

Q: Does Carstens control the world's money?
Not solo. But BIS coordinates central banks, and central banks issue currency. Carstens ran the coordination hub. His influence is enormous, even if it's behind the scenes.

Q: Are CBDCs inevitable?
Yes. 114 countries are developing them. Cash is being phased out. Within 10 years, fully digital money will be normal.

Q: Can CBDCs be used to control people?
Technically, yes. Programmable money could restrict spending, expire automatically, or prevent certain purchases. Whether governments do this is political, not technical.

Q: What's the difference between CBDC and crypto?
Crypto is decentralized and (mostly) private. CBDCs are centralized and transparent. Opposite philosophies.

Q: Why does BIS matter if nobody's heard of it?
Because it sets rules that every central bank follows. You've heard of the Fed or ECB—BIS is above them, coordinating policy globally.

Q: Will automation replace all banking jobs?
Probably most of them. Already happening. Some roles will remain (relationship managers, crisis response), but volume is shrinking fast.

Q: Is Carstens retiring or leaving for another job?
He's stepping down. As of mid-2025, his term ended. His successor will inherit the same automated systems he built.