ABSTRACT
In 1931, a new global cartel was settled, in the shape of a Swiss holding company, called Alliance Aluminium Compagnie. It was a stock buffering scheme whose goal was to take over the excess of production and to coordinate a reduction of output for finding again global balance between supply and demand. This was different from other industries which adopted similar tools (tin, rubber, wheat, copper), but where governments did not played any role, either in settlement or in administration. Instead, the role of standing Swiss banks in providing financial facilities for stock operations was decisive and shaped the functioning of this tool. This new financial dimension of international cartelisation shows an original framework between big business and finance in supporting market stabilisation, which worked until 1934.
