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All You Wanted To Know About Central Banks


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#1 man

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Posted 16 July 2013 - 11:15 AM

Conspiracy theorists are terribly wrong when it comes to banks, this linked article clarifies the matter and gives straightforward facts, practically saying to conspiracy minded to take a hike. It's written by Anthony Migchels who is an Interest-Free Currency activist and founder of the Gelre, the first Regional Currency in the Netherlands. You can read his article on his blog:
http://realcurrencie...-central-banks/

In that article Migchels is saying that:

-Most major Central Banks, except for the FED, are publicly owned and are not private entities.
-After paying its shareholders, 6% per year, the Federal Reserve (or Central Bank of USA) returns what remains of interest it collected] to the US Government, so it’s not entirely fair to say that the FED is printing money and then has the State pay interest on it. It paid and returned back to the United State  89 $ billion in 2012. However its accounting books are closed and are kept secret.

-It is therefore simply wrong to state that Rothschild owns all Central Banks! All European Central Banks are completely publicly owned. They are corporations with 100% Government ownership. They do operate as ‘independent’ entities, though.

-Central Banks were created by the Banks for the simple reason that Fractional Reserve Banking is incredibly unstable. There is an eternal incentive for the banksters to loan out more than they can cover with fractional reserves, leading to all sorts of destabilizing busts. This was hurting the Money Power’s control over the money supplies of the World and Central Banks were created as ‘lenders of the last resort’: in case of a panic a Central Bank could keep busted banks afloat, maintaining sufficient confidence in the system.

-Furthermore, central banks were useful tools for Sovereign borrowing. The basic contract between Sovereigns and the Central Banks was, that the Central Bank would always provide the State with all the money it would ever need, in return for guaranteed interest payments through taxation. And after deducting their expenses from the funds made by charging the interest, the rest of the profit or interest is returned back to the state treasury.

http://realcurrencie...-central-banks/
 



#2 man

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Posted 08 October 2013 - 11:03 AM

http://www.youtube.c...A9j-4dB0#t=1386

Russian RT is interviewing for some 30 minutes an American ugly-duckling lady by the name of Karen Hudes who used to work in some kind of a bank or banks but she was fired from her job when she became conspiracy minded. In this interview she is taking her revenge on the banks with conspiratorial talks. For mature audience only!



#3 hagopn

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Posted 08 October 2013 - 12:37 PM

Indeed, Migchels has lost my respect, along with his endorsement of the Bitcoin nonsense.

 

Would Migchels care to explain, then, why these "public institutions" have no public accountability or no history of public audits?



#4 hagopn

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Posted 08 October 2013 - 12:43 PM

Then why is Migchels so zealous about creating regional currencies if he believes that the "publically owned central banks are so transparent"? 

 

What is it with his Gelre currency?  is he now saying that he is doing nothing more than creating Monopoly Scrip money? 

 

As far as a "single clan" owning the central bank network: Granted, that is hard concept to grasp, believe in, or prove.  Yet, all major strategic industries have been demonstrably oligopolistic in nature.  Is Migchels now countering his own theories and saying that Money is a commodity but not a commodity?  What is he exactly saying?  is he having to say these things because he now discovered, much as the WIR Bank folks had done in the 1930's that you ultimately depend on the blessing of the Central Banks even if you are issuing a regional currency that is non-governmental?

 

I think Migchels is backpedaling. 



#5 hagopn

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Posted 08 October 2013 - 12:46 PM

And what is this negative connotation behind the word "conspiracists"?  is the above author denying that there are and have been conspirators of various shapes and forms on this planet?  Is the author above clumping any and all individuals who mention conspiracies into a "group major?" 

 

Is the author denying that human greed exists?  is the author denying that human beings forms groups, guilds, cartels, to control various trades?

 

Is the author above living on Mars?



#6 hagopn

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Posted 08 October 2013 - 01:17 PM

Also, instead of relying on amateur fence-sitting pundits such as Migchels, I highly suggest you read actual economists who are and were in the position to judge whether or not the Fed or any other central bank is privately run.  My primary sources on this issue are Milton Friedman, John Kenneth Galbraith, and William Greider, among many others.   These three are the biggest hitters who all agreed that the Fed is a "public charter with privately held stock."  That is a hybrid private/public institution with a monopolistic arrangement, roughly a sole subcontractor.  Particularly the US has a staunchly libertarian core that contracts out most of its public works.  The military, for example, is not allowed to produce armaments.  Only the private sector is.  Money is no different, except that it is, by the nature of the enforcement of a single currency, monopolistic.  Migchels is merely reinventing the Scrip Wheel in any case, for the most part.  There are scant usages of Scrip in some limited markets today, such as a large Orthodox Jewish community here in the US whose retailers still accept Scrip money for purchases of goods.  (I know, because many of them are my clients).  For the history of Scrip, check here: http://en.wikipedia.org/wiki/Scrip

 

By the way, Migchels was saying precisely this until you posted the above article. 

 

Pres. Kennedy is only remembered for his EO 11110, but all encyclical records of his United States Notes, which effectively - if not legally - rescinded the EO 11110, are not-so-surprisingly not recalled.  It's the same form of blatant monopolist policy that enforces international trade of Petroleum with the US Dollar.  Common sense and plain old facts say that  the United States Note was interest free money that bypassed the sale of Treasury Notes as a means of creating currency, which must have enraged the Fed administrators at the time, who, with the EO 11110, were in the process of devaluing silver and breaking the 10 to 1 gold to silver price ratio.  Apparently they succeeded.  Kennedy's claim to fame was, ironically, to decouple Silver from the currency.

 

Allegedly the confrontation of Kennedy and the Fed is a myth that is still being debunked in its 5th decade.  It probably is a myth.  Kennedy further liberated the Fed currency from any hard standards.  One author calls it a "frustrating myth that just will no go away."   Some go so far as to say, quite stupidly, that United States Notes did not ever exist:

 

I'm just an amateur who likes to ask questions versus labeling and clumping people into groups. 


Edited by hagopn, 08 October 2013 - 01:29 PM.





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