Tag: Federal Reserve Bank

CONCLUDING PART: The Federal Reserve Bank. America's privately-owned central bank

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By rahnuma ahmed


It is not only the American corporate media which keeps the lid on the Federal Reserve System — since, contrary to what most ?Americans believe, it is `not federal’, has `no reserve’, is `not even a bank’ but actually a banking cartel which serves and furthers the interests of the wealthiest men in the world ? American universities too play their role. As Stephen Lendman points out, his MBA curriculum 46 years ago, had `left out the most important parts of the story and never hinted at anything sinister about how the banking system works in fact’ (The Federal Reserve, Z Magazine, June 29, 2006).

A similar situation seemingly prevails in the UK, for, when I asked a relative who teaches business and finance at a British university about who owns the Bank of England, I was told, its nationalised. Its a public organisation wholly-owned by the government. ?Corroborating the official storyline secured in place by the powers-that-be, reflected in the Bank’s website: ?’As a public organisation, wholly-owned by Government, and with a significant public policy role, the Bank is accountable to Parliament.’
But this account ? unfailingly subscribed to by most Brits, `You ask the question, Who Owns The Bank Of England? to one thousand Britons, and I kid you not, all of them will say that it is owned by the Government’ (The Tap Blog, February 27, 2010) ? glosses over actualities. For instance, the setting up of? a wholly owned subsidiary called Bank of Nominees Limited (BOEN), a private limited company, by the Bank of England in 1977, which was granted an exemption from disclosing its shareholders. ‘It was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.’ This exemption is separate to the fact that the Bank of England is also protected by its Royal Charter status, and the Official Secrets Act. To put it briefly, members of the British public are ‘not allowed to know who the shareholders are who own the company which carries out Central Banking in the UK.’ Continue reading “CONCLUDING PART: The Federal Reserve Bank. America's privately-owned central bank”

Part I: The Federal Reserve Bank. America's privately-owned central bank

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By rahnuma ahmed

Dr. Ben Shalom Bernanke is the current chairman of the Federal Reserve, the `central’ bank of the United States of America.

“I know you are very busy, but you must make time. I have something very important to tell you,” I insisted.
Later, sitting in Nurul Kabir’s office, I asked, did you know that the American Federal Reserve Bank is privately-owned?
Wha-at? No! How?
I spilled the beans: the Fed (as its known for short), America’s central bank, is actually not a central bank, its not government-owned, its actually a banking cartel, the American government doesn’t create, doesn’t print money, this banking cartel does it, and the US government is indebted to it, and Americans are taxed to pay off the interest to this cartel, and the interest is just huge, a staggering amount in trillions of dollars, talk of shudkhors (usurers), its an unbelievable scam, American people generally don’t know about it, the media doesn’t talk about it, it’s a huge big cover-up… I went on excitedly till I ran out of words.
A long pause, then I reeled off the names of some leftists, friends we have in common, and asked Kabir, do you think our anti-imperialist friends, very critical of American capitalism, and for good reasons too, know this? The real story?
No, came the immediate reply. Since I didn’t, I’m sure they don’t either. Oooh, how conceited, I yelped, as I took a long sip of tea, which had gone cold as I gabbled. We laughed, and I moved on to describe how I had come across this extraordinary tale. Continue reading “Part I: The Federal Reserve Bank. America's privately-owned central bank”