The term
Gnomes of
Zurich can be used in either a general or a particular sense: generally, it refers to the powerful
bankers of
Switzerland, especially those who
speculate in foreign
currency markets. More particularly, it can refer to a hypothetical
specific group of super-elite bankers who are thought by some to actively control the world
money markets. How you use it depends on what you think of world
conspiracies.
The term was coined by Great Britain's Labour ministers during the 1964 sterling crisis.