SECTION 10

The Official Story

CENTRAL BANKS

A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a state or formal monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks.

Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists.

Spread around the world

Central banks were established in many European countries during the 19th century. Napoleon created the Banque de France in 1800, in an attempt to improve the financing of his wars. On the continent of Europe, the Bank of France remained the most important central bank throughout the 19th century. The Bank of Finland was founded in 1812, soon after Finland had been taken over from Sweden by Russia to become its grand duchy. A central banking role was played by a small group of powerful family banking houses, typified by the House of Rothschild, with branches in major cities across Europe, as well as the Hottinguer family in Switzerland and the Oppenheim family in Germany.

Although central banks today are generally associated with fiat money, the 19th and early 20th centuries central banks in most of Europe and Japan developed under the international gold standard. Free banking or currency boards were common at this time. Problems with collapses of banks during downturns, however, led to wider support for central banks in those nations which did not as yet possess them, most notably in Australia.

Australia established its first central bank in 1920, Peru in 1922, Colombia in 1923, Mexico and Chile in 1925 and Canada, India and New Zealand in the aftermath of the Great Depression in 1934. By 1935, the only significant independent nation that did not possess a central bank was Brazil, which subsequently developed a precursor thereto in 1945 and the present Central Bank of Brazil twenty years later. After gaining independence, African and Asian countries also established central banks or monetary unions. The Reserve Bank of India, which had been established during British colonial rule as a private company, was nationalized in 1949 following India’s independence.

The People’s Bank of China evolved its role as a central bank starting in about 1979 with the introduction of market reforms, which accelerated in 1989 when the country adopted a generally capitalist approach to its export economy. Evolving further partly in response to the European Central Bank, the People’s Bank of China had by 2000 become a modern central bank. The most recent bank model was introduced together with the euro, and involves coordination of the European national banks, which continue to manage their respective economies separately in all respects other than currency exchange and base interest rates.

Statistics

Collectively, central banks purchase less than 500 tonnes of gold each year, on average (out of an annual global production of 2,500-3,000 tonnes). In 2018, central banks collectively hold over 33,000 metric tons of the gold, about a fifth of all the gold ever mined, according to Bloomberg News.

In 2016, 75% of the world’s central-bank assets were controlled by four centers in China, the United States, Japan and the eurozone. The central banks of Brazil, Switzerland, Saudi Arabia, the U.K., India and Russia, each account for an average of 2.5 percent. The remaining 107 central banks hold less than 13 percent. According to data compiled by Bloomberg News, the top 10 largest central banks owned $21.4 trillion in assets, a 10 percent increase from 2015.

Source: Wikipedia

Top 5 Largest Central Banks by Total Assets

Rank:	Central Bank Profile:	Total Assets:
1	U.S. Federal Reserve System	$8,757,460,000,000
2	Bank of Japan	$5,878,875,571,224
3	People’s Bank of China	$5,144,760,000,000
4	Deutsche Bundesbank	$3,103,230,000,000
5	Bank of France	$2,138,080,000,000

ROTHSCHILD OWNED & CONTROLLED
CENTRAL BANKS:

NORTH AMERICA

Aruba: Central Bank of Aruba
Bahamas: Central Bank of The Bahamas
Barbados: Central Bank of Barbados
Belize: Central Bank of Belize
Bermuda: Bermuda Monetary Authority
Canada: Bank of Canada – Banque du Canada
Cayman Islands: Cayman Islands Monetary Authority
Costa Rica: Central Bank of Costa Rica
Cuba: Central Bank of Cuba
Dominican Republic: Central Bank of the Dominican Republic
East Caribbean area: Eastern Caribbean Central Bank
El Salvador: Central Reserve Bank of El Salvador
Guatemala: Bank of Guatemala
Haiti: Central Bank of Haiti
Honduras: Central Bank of Honduras
Jamaica: Bank of Jamaica
Mexico: Bank of Mexico
Netherlands Antilles: Bank of the Netherlands Antilles
Nicaragua: Central Bank of Nicaragua
Trinidad and Tobago: Central Bank of Trinidad and Tobago
United States: Federal Reserve, Federal Reserve Bank of New York, and the IRS.