“Enough. There’s no such thing. We take what can be taken. That is what we do.”
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence” – Gaddafi Planned Gold Dinar, Now Under Attack
A central bank, reserve bank, or monetary authority is an institution that manages a state’s currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state’s legal tender. The primary function of a central bank is to control the nation’s money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender to the banking sector
Central banks in most developed nations are institutionally designed to be independent from political interference – limited control by the executive and legislative bodies
This means unless the central bank is state-owned, there is very limited control by the executive and legislative bodies. The bank runs the country.
2000: there were only eight countries had a state-owned Central Bank. They were Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Sudan, Syria
2015: there are only three countries that have a state-owned Central Bank: Cuba, North Korea, Syria.
NOTE: Venezuela paid off all debt to the IMF and World Bank in 2007, but still reports to the IMF Executive Branch.
Afghanistan, Iraq, Sudan, and Libya were all countries which were attacked, occupied, and fractured by US/NATO power.
Pre-2001: the banking system of Afghanistan was made up of six “state-owned commercial banks” that were largely unconnected with one another and engaged in very little coordination. Because the state-owned banks were used to fund the government entirely at the whim of a corrupt leadership of tribalists with little understanding of effective central banking, and because Afghanistan had spent the better part of the second half of the 20th century in a state of war, the Afghan currency had become virtually worthless.
2003: after the Taliban was deposed, the Bactrian gold was found in secret vaults under the Central Bank of Afghanistan in Kabul. Tillya tepe, Tillia tepe or Tillā tapa or (literally “Golden Hill” or “Golden Mound”) is an archaeological site in the northern Afghanistan province of Jowzjan near Sheberghan, excavated in 1978 by a Soviet-Afghan team led by the Greek-Russian archaeologist Viktor Sarianidi, a year before the Soviet invasion of Afghanistan. The hoard is often known as the Bactrian gold.
February 26, 2003: the Islamic State of Afghanistan (Afghanistan) settled its overdue financial obligations to the International Monetary Fund (IMF). With the settlement of these arrears, which totaled SDR 8.1 million (about US$11.1 million), Afghanistan is now current on all its financial obligations to the IMF. The settlement of arrears to the IMF is part of a coordinated plan under which Afghanistan is clearing arrears to the Asian Development Bank, the IMF, and the World Bank. Afghanistan’s arrears to the Asian Development Bank were cleared on December 2, 2002, and arrears to the World Bank were cleared on February 24, 2003. The coordinated arrears clearance operation has been supported by grant contributions from Italy, Japan, Norway, Sweden, the United Kingdom, and the Afghanistan Reconstruction Trust Fund.
The Asian Development Bank (ADB) is a regional development bank established on 22 August 1966 which is headquartered in Metro Manila, Philippines, to facilitate economic development in Asia. The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries. From 31 members at its establishment, ADB now has 67 members, of which 48 are from within Asia and the Pacific and 19 outside. The ADB was modeled closely on the World Bank, and has a similar weighted voting system where votes are distributed in proportion with members’ capital subscriptions.
Since 2014, ADB releases annual report of Creative Productivity Index and comparatively includes Finland and United States for the list of Asia-Pacific members. At the end of 2013, Japan holds the largest proportion of shares at 15.67%. The United States holds 15.56%, China holds 6.47%, India holds 6.36%, and Australia holds 5.81%.
February 2004: the law known as the DAB, or Law of Da Afghanistan Bank, established the authority of the new Afghanistan Central Bank, Da Afghanistan Bank, to regulate and supervise all other banks within the country, as well as having control over monetary policy.
October 30, 2000: CNN article “U.N. to Let Iraq Sell Oil for Euros, Not Dollars,” stated: “A U.N. panel on Monday approved Iraq’s plan to receive oil-export payments in Europe’s single currency.” Baghdad currently is selling about $60 million in crude a day, about 5 percent of the world’s oil exports.”
October 31, 2000: F. William Engdahl, consulting economist and author of A Century of War: Anglo-American Oil Politics and the New World Order, stated in Current Concerns article titled “A New American Century? Iraq and the Hidden Euro-dollar Wars”: “Until November 2000, no OPEC country dared violate the dollar price rule. So long as the dollar was the strongest currency, there was little reason to as well. But November was when French and other Euroland members finally convinced Saddam Hussein to defy the United States by selling Iraq’s oil-for-food not in dollars, ‘the enemy currency’ as Iraq named it, but only in euros…
By 2003: There was no more Saddam Hussein to dictate monetary policy at his whim, and no more state control over banks. Instead, the “free market” would take the place of the former central banking system. The term “free,” however, is a misnomer when referring to the Iraqi Central Bank. This is because the new Central Bank of Iraq, now known as the Trade Bank of Iraq, was completely restructured and privatized. Slightly more obvious than the privatization of the Afghanistan banks, it was openly announced that none other than J.P. Morgan was chosen by the Coalition Provisional Authority to “set up” the new bank.
NOTE: The fact is that one of the largest derivatives facilitators in the world is one the principal architects of the Trade Bank of Iraq, plus it is also well-known that J.P. Morgan has a direct connection to the Rothschild banking dynasty; a trend that is to be seen in virtually every central and major bank in existence across the planet.
NOTE: The Central Bank of Libya (CBL) was 100% state owned and represented the monetary authority in The Great Socialist People’s Libyan Arab Jamahiriya and enjoyed the status of autonomous corporate body.
January 22, 2015: Fighters loyal to a renegade general in Libya seized a Central Bank facility in the coastal city of Benghazi according to The New York Times. Libya’s ongoing civil war split the country between an Islamist-supported central government based in Tripoli and a rival nationalist administration held together by the renegade general Khalifa Hifter and based in the eastern city of Tobruk. Hifter’s militia seized the building from the Tripoli-government-allied Islamists guarding it. According to the Times report, Hifter’s men have “posted video images online that appeared intended to show that they had not broken into the vaults, at least not yet.” But in the process, he has shown that there is a highly vulnerable payoff sitting in the middle of Benghazi’s stateless vacuum.
NOTE: NATO-backed Libyan terrorists announced the creation of a new central bank of Libya even before foreign forces ever became involved. Announced relatively early on in the destabilization campaign, the Transitional National Council declared the “Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.” It is also noteworthy to mention that immediately after the official creation of the new bank, the newborn institution actually signed an oil deal with Qatar, an Anglo-American client state and brother-in-arms of brutality.
2009: in his capacity as head of the African Union — Libya’s Moammar Gadhafi had proposed that the economically crippled continent adopt the ‘Gold Dinar,’” noted Ilana Mercer in an August opinion piece for WorldNetDaily.
February 26, 2011: United Nations Security Council Resolution 1970 was passed unanimously, referring the Libyan government to the International Criminal Court for gross human rights violations. It imposed an arms embargo on the country and a travel ban and assets freeze on the family of Muammar Al-Qadhafi and certain Government officials. Claims of “genocide” as the justification for NATO intervention were disputed by experts, several other theories have been floated. Oil, of course, has been mentioned frequently — Libya is Africa‘s largest oil producer. Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
March 28, 2011: “Libya also holds more bullion as a proportion of gross domestic product than any country except Lebanon, according to the London-based World Gold Council using January data from the International Monetary Fund,”according to Patrick Henningsen of Market Oracle.
South Sudan is now a separate and officially recognized country, the ability to cut off the oil supply to Sudan as punishment for refusing American directives is now a realistic option. South Sudan is, in fact, the region of Sudan (as it was originally demarcated) that houses the majority of Sudanese oil. As one of the first orders of business after South Sudan seceded from Sudan and was officially recognized by the UN, a private central bank was established. In fact, the South Sudanese Constitution itself provides for the creation of such an institution; the document states that the central bank will be called the The Bank of South Sudan and that it will be “an independent corporate legal entity.”
Syria, another country with a state-owned central bank, is likewise being subjected to an onslaught.
2006: the IMF actually published its annual Article IV Consultation Report regarding Syria’s economic developments. Among the recommendations made by the IMF in the report were suggestions of changing the Syrian banking system.
Syrian banking system largely consists of four state-owned banks and fourteen private banks, mostly foreign banks providing services to the private sector inside Syria. For at least forty years, the state itself has maintained a total monopoly on the Syrian banking system. Even when that total monopoly was broken, it was not in the form of the privatization of the central bank, it was merely allowing private banks to operate commercially inside the country at all.
Iran and Cuba have just signed peace agreements with the US.
The Central Bank of Iran (CBI) was established in 1960. As stated in the Monetary and Banking Act of Iran (MBAI), CBI is responsible for the design and implementation of the monetary and credit policies with due regard to the general economic policy of the country. “The Government is the sole authority having the right of issuing notes and coins and this right is hereby vested exclusively in Bank Markazi Iran.”
The importation of goods, issuance of documentary credits and registration of orders for documentary bills of exchange for imports are also done in accordance with the policies of the Central Bank. It is a member central bank of the Asian Clearing Union. According to the IMF, since Islamic banking forbids pure monetary speculation and stresses that deals should be based on real economic activity, it could pose less risk than conventional banking to the stability of financial systems.
The Asian Clearing Union (ACU), with headquarters in Tehran, Iran, was established on December 9, 1974 at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). The primary objective of ACU, at the time of its establishment, was to secure regional co-operation as regards the settlement of monetary transactions among the members of the Union and to provide a system for clearing payments among the member countries on a multilateral basis. In October 2013, Iran unveiled a plan suggesting that members of the union –Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Pakistan, Sri Lanka and Iran- employ a home-grown system developed by the Central Bank of Iran to get around SWIFT called SEPAM in Farsi.
May 28 to June 9, 2011: An International Monetary Fund (IMF) mission led by Mr. Dominique Guillaume visited the Islamic Republic of Iran to conduct discussions for the Article IV Consultation. Article IV Consultations are an important part of the IMF’s regular surveillance activity with all member countries and are usually conducted every year.
2005: the government obliged the Central Bank of Iran and the Iranian banks, mostly state owned, to set up all the necessary infrastructures (regulatory, hardware, software) for fully launching e-money in Iran by March 2005.
May 28, 1997: the creation of Banco Central de Cuba (BCC), as disposed by the Council of State by means of Decree-Law No. 172, provided the country with an institution, capable of concentrating its efforts in the execution of its central banking functions and established a two-tier banking system integrated by Banco Central de Cuba and a group of banks and non-banking financial institutions, capable of coping with the needs which arise from the development of new ways to organise the internal and external economic relations of the country. As the governing authority of the Cuban banking system, BCC has the mission:
- To issue the national currency and seek for its stability.
- To contribute to the macroeconomic balance and orderly development of the economy.
- To keep custody of the country’s international reserves.
- To propose and implement a monetary policy which allows to attain the economic goals established by the country.
- To ensure normal internal and external payment operations.
- To dictate mandatory regulations.
- To exercise the functions related to the discipline and supervision of the financial institutions and representative offices authorised to establish themselves in the country and of any other entrusted to it by the laws.
Cuba has managed to stay outside the scrutiny of the mainstream media propaganda efforts in recent years, also maintains a 100% state-owned central bank. Yet, even though the Cuba card has yet to be played in recent Anglo-American endeavors, the tiny nation remains designated as dangerous threat to the United States and “democracy” the world over. Indeed, it is safe to say that Cuba’s Castro regime has not faded from the radar screen of the Rothschild banking dynasty or the enforcement arm of that dynasty known as NATO and the United States.
On February 15, 1946, a central bank of North Korea was announced, which was to be under the control of the Soviet military. However, the bank failed to accomplish its objectives, being unable to meet its costs of operation, and the 100 million wŏn capitalisation was ineffective. The North Korean Interim People’s Committee did not look upon the bank favourably, and chose instead to work through the Farmers’ Bank, which also existed at the time. By late 1946, banking functions were consolidated into two main institutions, the Central Bank and Farmer’s Bank.
In June 1947, around 1,000 million wŏn was concentrated in the Central Bank, allowing it to extend credits totalling 900 million wŏn for economic rehabilition. The consolidation reflected a return to the original objectives of the People’s Committee, which wanted closer control over the economy; any banking people opposed to the changes within the system were removed from their posts. On December 6, 1947, a comprehensive program of currency reform was announced. In 1959, the Central and Farmers’ banks were merged to form the Central Bank of the Democratic’s People’s Republic of Korea. The Foreign Trade Bank was established to handle the Central Bank’s international business. The Central Bank has over 220 branches.
It is interesting to note that the model totalitarian state for the world under the coming global system, North Korea, lacks in only one thing – a private central bank. Another example of central banking opportunities squandered by selfish psychopaths like Kim Jong Un and Kim Jong Il, the fact is that while the society as a whole matches the blueprint created for the rest of the world many years ago, North Korea still represents the lack of total domination by the private banking cartel which control the overwhelming majority of finance and industrial sources. Thus, North Korea retains its place firmly on the list of governments that will be overthrown, replaced, and erased from the history books, as the New World Order is gradually implemented throughout the entire planet.
North Korea follows Songun, or “military-first” policy. It is the world’s most militarized society, with a total of 9,495,000 active, reserve, and paramilitary personnel. Its active duty army of 1.21 million is the fourth largest in the world, after China, the U.S., and India. It also possesses nuclear weapons.
Look for a united Korea, soon.
After 2008: Iceland took a radically different path than the United States after their financial crisis and nationalized the banks, threw some people responsible for the crash in jail and bailed out the homeowners instead of worrying about only bailing out the banks.
October 6, 2008: a number of private interbank credit facilities to Icelandic banks were shut down. Prime Minister Geir Haarde addressed the nation, and announced a package of new regulatory measures which were to be put to the Althing, Iceland’s parliament, immediately, with the cooperation of the opposition parties. These included the power of the FME to take over the running of Icelandic banks without nationalising them, and preferential treatment for depositors in the event that a bank had to be liquidated. In a separate measure, retail deposits in Icelandic branches of Icelandic banks were guaranteed in full. The emergency measures had been deemed unnecessary by the Icelandic government less than 24 hours earlier.
Iceland’s financial position has steadily improved since the crash. The economic contraction and rise in unemployment appear to have been arrested by late 2010 and with growth under way in mid-2011. Three main factors have been important in this regard. First is the emergency legislation passed by the Icelandic parliament in October 2008. It served to minimise the impact of the financial crisis on the country. The Financial Supervisory Authority of Iceland used permission granted by the emergency legislation to take over the domestic operations of the three largest banks. The much larger foreign operations of the banks, however, went into receivership. A second important factor is the success of the IMF Stand-By-Arrangement in the country since November 2008.
By mid-2012: Iceland was regarded as one of Europe’s recovery success stories. It has had two years of economic growth. Unemployment was down to 6.3% and Iceland was attracting immigrants to fill jobs. Currency devaluation effectively reduced wages by 50% making exports more competitive and imports more expensive. Ten-year government bonds were issued below 6%, lower than some of the PIIGS nations in the EU (Portugal, Italy, Ireland, Greece, and Spain).
The Central Bank of Venezuela is the central bank of Venezuela. It maintains a fixed exchange rate for the Venezuelan bolivar. Banco Central de Venezuela BCV (bank) principally engages in the formulation and implementation of monetary policy in Venezuela. It also participates in designing and carrying out exchange rate policy; regulates currency, credit, and interest rates; and administers international reserves. In addition, the company monitors and regulates the foreign exchange market; observes the functioning of the country’s payments system and set the operating rules; issues currency; and exercises the rights and takes on the obligations of the Republic at the International Monetary Fund.
Article 46 “The Central Bank of Venezuela must: 1. Submit periodic reports to the Executive Branch (IMF) on the domestic and foreign monetary and financial situation and make pertinent recommendations as it deems advisable.”