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Wednesday, November 24, 2010

What A Mess.

I have a question which I have wondered about recently. That question is: Who owns and runs the Central Bank of Ireland? Is it run by the government? Is it run by private business? If it is private, who makes money out of it? Ok, that was four questions.
I am asking the question because I think people need to be asking it and looking for answers. In America, the Federal Reserve is a private company which is run by private shareholders, whose main goal is the making of profit, at the expense of the everyday worker on the street. When America first set up its banking system, the money system was controlled by the government and the money was created by the government, who passed it onto society through the banks, and there was no debt attached to the money when it was put into society, which was a very fair way.
The system got changed along the way by people who saw the immense opportunities that controlling the Federal Reserve would have in terms of making money, and so in 1913, a bill was passed which privatised the Fed. Since then, the government has had to request money off the Federal Reserve, which the Fed would print up and give to the government, but this time, at interest, so there was a debt attached to the money before it even reached the banks.
It's a system where the very richest control the money supply and in turn, control the futures of millions of people across America, and thus billions across the world. The American government has absolutely no control over the Fed whatsoever. The Federal Reserve used to back up their money supply with gold, but that ended in 1971, so since that date, the money created hadnot been backed up by anything of value; the Federal Reserve has literally been printing money that is worth nothing.
The current economic crisis we are in has been caused by the banks who control the money supply. Who controls the banks? Who controls the European Central Bank? What was the net profit of the European Central Bank last year? The answer is 1.32 billion Euros.
I think it's time for some questions to be asked by everyone. Use resources available to you. Use the internet. Ask the questions. You'll find you are not the only one. Ask yourself: Why are we in the recession that we are? Who caused it? Who owns the Federal Reserve? Why are recessions just accepted as being a part of life? Is it not the responsibility of the Banks to ensure that recessions do not happen? How can a Central Bank of any country be controlled by private directors and share holders? Is that not a conflict of interest?
"All that is necessary for the triumph of evil is for good men do nothing." Edmund Burke, Irish Statesman who served in the British House of Commons

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