Who Owns The Federal Reserve?

The Fed is privately owned. 

Who Owns The Federal Reserve? By Ellen Brown Global Research, September 30, 2015 Web of Debt and Global Research 8 October 2008 Url of this article: http://www.globalresearch.ca/who-owns-the-federal-reserve/10489 This article was first published by Global Research in October 2008 “Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.” – The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s The Federal Reserve (or Fed) has assumed sweeping new powers in the last year. In an unprecedented move in March 2008, the New York Fed advanced the funds for JPMorgan Chase Bank to buy investment bank Bear Stearns for pennies on the dollar. The deal was particularly controversial because Jamie Dimon, CEO of JPMorgan, sits on the board of the New York Fed and participated in the secret weekend negotiations.1 In September 2008, the Federal Reserve did something even more unprecedented, when it bought the world’s largest insurance company. The Fed announced on September 16 that it was giving an $85 billion loan to American International Group (AIG) for a nearly 80% stake in the mega-insurer. The Associated Press called it a “government takeover,” but this was no ordinary nationalization. Unlike the U.S. Treasury, which took over Fannie Mae and Freddie Mac the week before, the Fed is not a government-owned agency. Also unprecedented was the way the deal was funded. The Associated Press reported: “The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs.”2 This is extraordinary. Why is the Treasury issuing U.S. government bonds (or debt) to fund the Fed, which is itself supposedly “the lender of last resort” created to fund the banks and the federal government? Yahoo Finance reported on September 17: “The Treasury is setting up a temporary financing program at the Fed’s request. The program will auction Treasury bills to raise cash for the Fed’s use. The initiative aims to help the Fed manage its balance sheet following its efforts to enhance its liquidity facilities over the previous few quarters.” Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website): “The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable.” “To switch debt that is less liquid for U.S. government securities that are easily tradable” means that the government gets the banks’ toxic derivative debt, and the banks get the government’s triple-A securities. Unlike the risky derivative debt, federal securities are considered “risk-free” for purposes of determining capital requirements, allowing the banks to improve their capital position so they can make new loans. (See E. Brown, “Bailout Bedlam,” webofdebt.com/articles, October 2, 2008.) In its latest power play, on October 3, 2008, the Fed acquired the ability to pay interest to its member banks on the reserves the banks maintain at the Fed. Reuters reported on October 3: “The U.S. Federal Reserve gained a key tactical tool from the $700 billion financial rescue package signed into law on Friday that will help it channel funds into parched credit markets. Tucked into the 451-page bill is a provision that lets the Fed pay interest on the reserves banks are required to hold at the central bank.”3 If the Fed’s money comes ultimately from the taxpayers, that means we the taxpayers are paying interest to the banks on the banks’ own reserves – reserves maintained for their own private profit. These increasingly controversial encroachments on the public purse warrant a closer look at the central banking scheme itself. Who owns the Federal Reserve, who actually controls it, where does it get its money, and whose interests is it serving? Not Private and Not for Profit? The Fed’s website insists that it is not a private corporation, is not operated for profit, and is not funded by Congress. But is that true? The Federal Reserve was set up in 1913 as a “lender of last resort” to backstop bank runs, following a particularly bad bank panic in 1907. The Fed’s mandate was then and continues to be to keep the private banking system intact; and that means keeping intact the system’s most valuable asset, a monopoly on creating the national money supply. Except for coins, every dollar in circulation is now created privately as a debt to the Federal Reserve or the banking system it heads.4 The Fed’s website attempts to gloss over its role as chief defender and protector of this private banking club, but let’s take a closer look. The website states: * “The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations – possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.” * “[The Federal Reserve] is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.” * “The Federal Reserve’s income is derived primarily from the interest on U.S. government securities that it has acquired through open market operations. . . . After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.”5 So let’s review: 1. The Fed is privately owned. Its shareholders are private banks. In fact, 100% of its shareholders are private banks. None of its stock is owned by the government. 2. The fact that the Fed does not get “appropriations” from Congress basically means that it gets its money from Congress without congressional approval, by engaging in “open market operations.” Here is how it works: When the government is short of funds, the Treasury issues bonds and delivers them to bond dealers, which auction them off. When the Fed wants to “expand the money supply” (create money), it steps in and buys bonds from these dealers with newly-issued dollars acquired by the Fed for the cost of writing them into an account on a computer screen. These maneuvers are called “open market operations” because the Fed buys the bonds on the “open market” from the bond dealers. The bonds then become the “reserves” that the banking establishment uses to back its loans. In another bit of sleight of hand known as “fractional reserve” lending, the same reserves are lent many times over, further expanding the money supply, generating interest for the banks with each loan. It was this money-creating process that prompted Wright Patman, Chairman of the House Banking and Currency Committee in the 1960s, to call the Federal Reserve “a total money-making machine.” He wrote: “When the Federal Reserve writes a check for a government bond it does exactly what any bank does, it creates money, it created money purely and simply by writing a check.” 3. The Fed generates profits for its shareholders. The interest on bonds acquired with its newly-issued Federal Reserve Notes pays the Fed’s operating expenses plus a guaranteed 6% return to its banker shareholders. A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” corporations. In addition to this guaranteed 6%, the banks will now be getting interest from the taxpayers on their “reserves.” The basic reserve requirement set by the Federal Reserve is 10%. The website of the Federal Reserve Bank of New York explains that as money is redeposited and relent throughout the banking system, this 10% held in “reserve” can be fanned into ten times that sum in loans; that is, $10,000 in reserves becomes $100,000 in loans. Federal Reserve Statistical Release H.8 puts the total “loans and leases in bank credit” as of September 24, 2008 at $7,049 billion. Ten percent of that is $700 billion. That means we the taxpayers will be paying interest to the banks on at least $700 billion annually – this so that the banks can retain the reserves to accumulate interest on ten times that sum in loans. The banks earn these returns from the taxpayers for the privilege of having the banks’ interests protected by an all-powerful independent private central bank, even when those interests may be opposed to the taxpayers’ — for example, when the banks use their special status as private money creators to fund speculative derivative schemes that threaten to collapse the U.S. economy. Among other special benefits, banks and other financial institutions (but not other corporations) can borrow at the low Fed funds rate of about 2%. They can then turn around and put this money into 30-year Treasury bonds at 4.5%, earning an immediate 2.5% from the taxpayers, just by virtue of their position as favored banks. A long list of banks (but not other corporations) is also now protected from the short selling that can crash the price of other stocks. Time to Change the Statute? According to the Fed’s website, the control Congress has over the Federal Reserve is limited to this: “[T]he Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute.” As we know from watching the business news, “oversight” basically means that Congress gets to see the results when it’s over. The Fed periodically reports to Congress, but the Fed doesn’t ask; it tells. The only real leverage Congress has over the Fed is that it “can alter its responsibilities by statute.” It is time for Congress to exercise that leverage and make the Federal Reserve a truly federal agency, acting by and for the people through their elected representatives. If the Fed can demand AIG’s stock in return for an $85 billion loan to the mega-insurer, we can demand the Fed’s stock in return for the trillion-or-so dollars we’ll be advancing to bail out the private banking system from its follies. If the Fed were actually a federal agency, the government could issue U.S. legal tender directly, avoiding an unnecessary interest-bearing debt to private middlemen who create the money out of thin air themselves. Among other benefits to the taxpayers. a truly “federal” Federal Reserve could lend the full faith and credit of the United States to state and local governments interest-free, cutting the cost of infrastructure in half, restoring the thriving local economies of earlier decades. Ellen Brown, J.D., developed her research skills as an attorney practicing civil litigation in Los Angeles. In Web of Debt, her latest book, she turns those skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. Her eleven books include the bestselling Nature’s Pharmacy, co-authored with Dr. Lynne Walker, and Forbidden Medicine. Her websites are www.webofdebt.com  and www.ellenbrown.com . Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. Copyright © Ellen Brown, Global Research, 2015

https://www.youtube.com/watch?t=996&v=u7tTdO6oxUA&ab_channel=GregHunter

schoon s paper

http://www.drschoon.com/articles/CollapsePaperMoneyVerticalMoveOfGold.pdf



=======================================================

[9/4/2015, 7:29 AM] +91 99714 07788: 1...The way the nation s monetary system is managed is SIGNIFICANTLY different in different countries/nations/currency areas ,
eg , USA ,...UK ,.... EEC ,...
 Germany ,
 India , Russia , China ,
 Japan ,etc ,..

2.... India (1947-1950), Russia (around 1991) , China , Japan , were forced to sign treaties , that are approved by their Contitutions ,
that gave away credit creation independence to their imperial masters ,
-respectively,- to UK then USA after bretton woods 1945 updated via  Jamaica 1972 . ...

3... the currency s issued by each of India , Russia , China , Japan are currency s of OCCUPIED COUNTRIES ,( -same as USA now manages the currency in Libya after occupying Libya in 2014-, or the way England managed the Rupee and banking ,eg , gold reserves , foreign exchange rates , bill discounting via London etc. in India say 1850-1950 ),

 and

each currency/credit  is issued/managed under full (selfish ) control of USA-IMF fully as USA-IMF is  the OCCUPIER ( IMPERIAL ) master of such counties .

 UK is a special case ...

EEC/EURO is also an OCCUPIED "country " in terms of the amount of credit that EEC CB central bank can issue

,-including decisions as whether the credit money will be used for
 a-sustainable employment or  b-asset appreciation bubbles  or c-or for loaning to IMF-suggested loan takers like India who in turn  end up becoming debt slaves to electronic money  .  ................
Posted by Ravi Garg at 6:51
[9/4/2015, 7:29 AM] +91 99714 07788: your impression that ,

that sovereign debt loan achieved by Mr. Modi in Dubai  comes from oil wealth savings , and that no country including India can create its own sovereign money
if you read as per flwg link

http://www.financialexpress.com/article/economy/india-among-top-5-sovereign-em-debt-issuers-moodys/129536/

it will show that so called term sovereign debt 'it' does not constitute savings of a Govt. ,
 it refers to money borrowed by a Govt. from its Central Bank ,
the central bank creates electronic money loan to the Govt. against a promissory note / bond issued by the Govt . ,

ha ha
same applies to Abu Dhabi Govt , they also borrow from their central bank
ha ha
and that money shall then be loaned to India at somewhat higher interest ..
ha ha
so what is limiting Indian Govt to borrow more from Indian Central Bank CB for short , ha ha .. Mr Rajan gets salary from IMF to say no to Modi s Govt ,

ha ha

And
The most important insight ...

why should a sovereign Govt. need to borrow new electronically created money against its pro note given to its CB
is RBI on parliament St a deptt. under our sovereign elected Govt . or not ? or is RBI chairman a conduit to arrange Indians to pay interest to foreign insttns . ?

what is to stop our pm or fin min ,from creating equal amount of money by making an entry in the Consolidated fund of India , and after some time , equal to the loan period granted by say abudhabi , fin min could simply erase same amount from its Consolidated account .

no trips to Abu Dhabi and our country shall save huge  interest payable in foreign exchange .

sir ,
Even advanced country s sovereign funds are ' manufactured ', ad per IMF whims on the press of electronic buttons !
[9/4/2015, 7:43 AM] i. M Jayaram M, bangalore: Nooni
Rajiv is a research scientist and in our terminology a leftist with a conscience. His theories will start with American ways and then reach what we think after a series of connected and unconnected theories.
I forwarded his message to U jus to tell U that there is one more of our classmates who dates to think differently
Rajiv ' contacts
rajiv.bhushan@gmail.com
Mob : +1 (408) 561-8067
Res: +1 (650) 331-1115
Skype : rajivbhushan
[9/4/2015, 7:48 AM] i. M Jayaram M, bangalore: And I do not necessarily agree with all his views. I however appreciate his different approach.
In monetary economics my beliefs are obvious to you.
[9/4/2015, 10:10 AM] +91 99714 07788: It seems to me repeat seems to me that there is a small specific group A of ' countries '  ..( USA UK Japan EEC- with high weightage to France, Germany ) .. that have consciously created / stumbled on to monetary theory . the interest of these countries and their ideas of managing only their economies , is in conflict with rest of the world countries group B . Group A manages to live off the hard work , low wages , poverty , of group B countries .as a small corollary , maybe within group A also their middle class is getting marginalised slowly .  within group B , there is a miniscule  group mostly the corrupt that is able to extract wealth into tax havens controlled by group A ... the tax havens wealth is estimated at Dlrs trillion 20 to 30 .
the international elite I E  meaning the rich in groups A and B , have succeeded in creating a grip over USA army and the FRS system including IMF  , and thru it the IE already controls almost all group B , barring some potential of fight back by China ,Russia mainly .

the economics principals as implemented in group A are different than in group B .
[9/4/2015, 10:36 AM] +91 99714 07788: in Russian literature , IE is different from grp A , and grp B is yet separate entity to be exploited by the IE using the military and FRS IMF ,and via  country wise treaties signed with grp B  countries with IMF.
these treaties are not advertised by IMF though these are taught to new country heads recruits into IMF and are available here and there on the web .

Almost 99% of the videos and blogs on the web , try to make sense of the policies of the FRS from the interest point of view of the middle class in grp A ,
while not seeing the hidden hand of the IE within the FRS system , this IE hand that rocks the IMF FRS from within is even disinterested in the middle class of its own countries eg USA UK Japan Germany France- EEC !!!

so the blogs in USA lime Peter Schiff , Hudson , Alastair MacLeod , varifoukis , celente , Rickards , and many many others are confused why the FRS system has not broken down since 2008 Aug till now ...

the middle class of grp A is being thrown to the dustbin alongside dustbin of grpB let me label this as grp DB aka dustbin group .

Read or see video by Joan Veon , where she explains the UN s World Govt. program ,
imp. read about UN s agenda 21 since 1945 that inter alia every year publishes progress reports on its success in reducing world population in another 80 or so years to only 1 billion total or less , thru induced infertility amongst other methods !
our Rajan has also written praises for one world Govt program of UN , that includes pop. reduction without asking Russia India etc , !

the IE serves itself and in future a  severely reduced number in grp A , thus the nomenclature International Elite .
hoax economics is keeping grp DB confused thru blogs discussing gold prices , inflation deflation etc.
===========================================================
[9/4/2015, 10:10 AM] +91 99714 07788: It seems to me repeat seems to me that there is a small specific group A of ' countries '  ..( USA UK Japan EEC- with high weightage to France, Germany ) .. that have consciously created / stumbled on to monetary theory . the interest of these countries and their ideas of managing only their economies , is in conflict with rest of the world countries group B . Group A manages to live off the hard work , low wages , poverty , of group B countries .as a small corollary , maybe within group A also their middle class is getting marginalised slowly .  within group B , there is a miniscule  group mostly the corrupt that is able to extract wealth into tax havens controlled by group A ... the tax havens wealth is estimated at Dlrs trillion 20 to 30 .
the international elite I E  meaning the rich in groups A and B , have succeeded in creating a grip over USA army and the FRS system including IMF  , and thru it the IE already controls almost all group B , barring some potential of fight back by China ,Russia mainly .

the economics principals as implemented in group A are different than in group B .in Russian literature , IE is different from grp A , and grp B is yet separate entity to be exploited by the IE using the military and FRS IMF ,and via  country wise treaties signed with grp B  countries with IMF.
these treaties are not advertised by IMF though these are taught to new country heads recruits into IMF and are available here and there on the web .

Almost 99% of the videos and blogs on the web , try to make sense of the policies of the FRS from the interest point of view of the middle class in grp A ,
while not seeing the hidden hand of the IE within the FRS system , this IE hand that rocks the IMF FRS from within is even disinterested in the middle class of its own countries eg USA UK Japan Germany France- EEC !!!

so the blogs in USA lime Peter Schiff , Hudson , Alastair MacLeod , varifoukis , celente , Rickards , and many many others are confused why the FRS system has not broken down since 2008 Aug till now ...

the middle class of grp A is being thrown to the dustbin alongside dustbin of grpB let me label this as grp DB aka dustbin group .

Read or see video by Joan Veon , where she explains the UN s World Govt. program ,
imp. read about UN s agenda 21 since 1945 that inter alia every year publishes progress reports on its success in reducing world population in another 80 or so years to only 1 billion total or less , thru induced infertility amongst other methods !
our Rajan has also written praises for one world Govt program of UN , that includes pop. reduction without asking Russia India etc , !

the IE serves itself and in future a  severely reduced number in grp A , thus the nomenclature International Elite .
hoax economics is keeping grp DB confused thru blogs discussing gold prices , inflation deflation etc.


=====================================================


[9/14/2015, 12:20 PM] +91 99714 07788: Very impressive .
I admit I do NOT understanding operational banking .

My imm . response is
Why in h***hell is Govt. of India waiting
even one day one hour to notify this scheme ,
it seems that the babu s are really stupid or are sleeping .
I ll try to forward is as letter to editor , if i can soon

MJ ,
really help me understand
why this scheme has not yet been implemented !!!!

Modi is going all over world asking begging for what will be hot money !!

Sad .

R
[9/14/2015, 4:31 PM] +91 99714 07788: there are 3 issues .
1.  finding money to put in economy  ( emission)
2.   avoiding HUGE distortions due interest on new money .
3.  HUGE complexity in evaluating which new projects shall be non consumption , non speculation , and that shall enable sustainable ( local ? ) employment .

Now , your solution will be fast accepted instead of my suggestion ,- that fresh new electronic credit entry be made by fin. ministry at zero interest .

Now , your suggestion will still create distortions due interest , though on lower scale ,coz the volume of new money shall get limited by gold in hand .

Now , this 3 rd issue remains ..and you and I must teach society how to rank projects for loans .

Now , less imp. for debate between you n me , I want to put on notice board that sometime later we can debate and eliminate the gold backing issue , ONLY and EASILY if we can lay down norms for 3rd issue above .

eg building a road ... does it help in commerce or for consumption social luxury ?
eg ... billing in rupees vs billing in dollars for exports , etc etc

you have kind of covered this by suggesting a newer hierarchy of governance . I love it .

in process , later
[9/16/2015, 10:50 AM] +91 99714 07788: gold bugs aka gold price rise forecasters have been negated since 2008 till now . over millennia of wars and currency dilution s , gold. (used to )  maintain ed its value .
Now ,
let us look at possibility.

some type of world war or Dollar reorganizing or Dollar crash happens ...

I think p1 chances ten % , gold will go up only if the crash event is not planned for by the new world Govt. if crash planned by new world Govt then gold will go down .

those who think that new world Govt is not preplanning a crash , they think gold will rise and rise . I agree in such case only .this is p2 group .I am not in p2 bcoz united Nations agenda 21 pl read to reduce world population by 80 % in 70 years . also USA power is so big that even China Germany Japan cannot speak up
about Dollar hegemony .

the issue is not
what is right , for world .

issue is , does USA have comparative power. , yes , in my subjective opinion.
[9/16/2015, 11:03 AM] +91 99714 07788:

The Fallacies of GDP

The Fallacies of GDP

The Fallacies of GDP

The Fallacies of GDP

Para 1

Some people feel , that ,
sovereign debt loan achieved by mr modi in Dubai  comes from oil wealth savings ,
and that most countries including India ,(-that have budgetary deficits or and negative balance of payments -)  cannot create their  own " sovereign money " !
Sovereign money generally ........................
does not constitute savings of a Govt. , it refers to money borrowed by a Govt. from its Central Bank , the central bank creates electronic money loan to the Govt. against a promissory note / bond issued by the Govt . ,
So, India can create as much Sovereign money of itr own as it needs or wants (-subject to negative pressure to do so , by IMF via IMF henchmen in Reserve Bank of India ).


Para 2

The same applies to Abu Dhabi Govt , they also borrow from their central bank
and that money shall then be loaned to India at somewhat higher interest ..
so what is limiting Indian Govt to borrow more from Indian Central Bank CB for short , ha ha .. Mr Rajan gets salary from IMF to say no to Modi s Govt ,

Para 3
And
The most important insight ...

why should a sovereign Govt. need to borrow new electronically created money against its pro note given to its CB
Is RBI on Parliament Street in Delhi a deptt. under our sovereign elected Govt . or not ? or is RBI chairman a conduit to arrange Indians to pay interest to foreign insttns . ?

what is to stop our pm or fin min ,from creating equal amount of money by making an entry in the Consolidated fund of India , and after some time , equal to the loan period granted by say abudhabi , fin min could simply erase same amount from its Consolidated account .

no trips to Abu Dhabi and our country shall save huge  interest payable in foreign exchange .

Even advanced country s sovereign funds are ' manufactured ', ad per IMF whims on the press of electronic buttons !

surely , this had better be discussed in person !

http://www.financialexpress.com/article/economy/india-among-top-5-sovereign-em-debt-issuers-moodys/129536/

============================================
.Para  4

 M Jayaram M, bangalore: This method of govt operation is common to the point of absurdity. U.S. Govt could have written cheques or printed money- but they borrow from FRS !!!
Oil money is the form of TPM (toilet paper money ).it has as much intrinsic value as the useless dollar.
Why can't we promote manufacture in India and improve infrastructure which is relevant to India unlike aping the west and building bullet trains.
Yes, we have a lot to talk about. Next week, maybe Tuesday lets get on Skype

. M Jayaram M, bangalore:

========================================================
Para  5

https://www.youtube.com/watch?v=4OVAROe3gW4
"An antidote to Ravi Garg"

The Skype message from Rajiv Bhushan


[9/3/2015, 10:11 PM] i. M Jayaram M, bangalore: http://itsthepeoplesmoney.blogspot.com/2015/06/you-know-you-understand-modern-money.html
A primer on modern money - sent by Rajiv

=========================================================
 Para  6

my comments

1...The way the nation s monetary system is managed is SIGNIFICANTLY different in different countries/nations/currency areas ,
eg , USA ,...UK ,.... EEC ,...
 Germany ,
 India , Russia , China ,
 Japan ,etc ,..

2.... India (1947-1950), Russia (around 1991) , China , Japan , were forced to sign treaties , that are approved by their Contitutions ,
that gave away credit creation independence to their imperial masters ,
-respectively,- to UK then USA after bretton woods 1945 updated via  Jamaica 1972 . ...

3... the currency s issued by each of India , Russia , China , Japan are currency s of OCCUPIED COUNTRIES ,( -same as USA now manages the currency in Libya after occupying Libya in 2014-, or the way England managed the Rupee and banking ,eg , gold reserves , foreign exchange rates , bill discounting via London etc. in India say 1850-1950 ),

 and

each currency/credit  is issued/managed under full (selfish ) control of USA-IMF fully as USA-IMF is  the OCCUPIER ( IMPERIAL ) master of such counties .

 UK is a special case ...

EEC/EURO is also an OCCUPIED "country " in terms of the amount of credit that EEC CB central bank can issue

,-including decisions as whether the credit money will be used for
 a-sustainable employment or  b-asset appreciation bubbles  or c-or for loaning to IMF-suggested loan takers like India who in turn  end up becoming debt slaves to electronic money  .  ................

===============================================
Para  6.1

 your impression that ,
that sovereign debt loan achieved by Mr. Modi in Dubai  comes from oil wealth savings , and that no country including India can create its own sovereign money
if you read as per flwg link

http://www.financialexpress.com/article/economy/india-among-top-5-sovereign-em-debt-issuers-moodys/129536/

it will show that so called term sovereign debt 'it' does not constitute savings of a Govt. ,
 it refers to money borrowed by a Govt. from its Central Bank ,
the central bank creates electronic money loan to the Govt. against a promissory note / bond issued by the Govt . ,

same applies to Abu Dhabi Govt , they also borrow from their central bank

and that money shall then be loaned to India at somewhat higher interest ..

so what is limiting Indian Govt to borrow more from Indian Central Bank CB for short , ha ha .. Mr Rajan gets salary from IMF to say no to Modi s Govt ,
========================================================
Para  6.2
And
The most important insight ...

why should a sovereign Govt. need to borrow new electronically created money against its pro note given to its CB
is RBI on parliament St a deptt. under our sovereign elected Govt . or not ? or is RBI chairman a conduit to arrange Indians to pay interest to foreign insttns . ?

what is to stop our pm or fin min ,from creating equal amount of money by making an entry in the Consolidated fund of India , and after some time , equal to the loan period granted by say abudhabi , fin min could simply erase same amount from its Consolidated account .

no trips to Abu Dhabi and our country shall save huge  interest payable in foreign exchange .

sir ,
Even advanced country s sovereign funds are ' manufactured ', ad per IMF whims on the press of electronic buttons !


======================================================
Para  7

[9/4/2015, 7:43 AM] i. M Jayaram M, bangalore: Nooni
Rajiv is a research scientist and in our terminology a leftist with a conscience. His theories will start with American ways and then reach what we think after a series of connected and unconnected theories.
I forwarded his message to U jus to tell U that there is one more of our classmates who dates to think differently
Rajiv ' contacts
rajiv.bhushan@gmail.com


 And I do not necessarily agree with all his views. I however appreciate his different approach.
In monetary economics my beliefs are obvious to you.

=========================================================
Para  8

: It seems to me , repeat seems to me ,
that there is a small specific group A of ' countries '  ..( USA UK Japan EEC- with high weightage to France, Germany ) .. that have consciously created / stumbled on to monetary theory . the interest of these countries and their ideas of managing only their economies , is in conflict with rest of the world countries group B . Group A manages to live off the hard work , low wages , poverty , of group B countries .as a small corollary , maybe within group A also their middle class is getting marginalised slowly .  within group B , there is a miniscule  group mostly the corrupt that is able to extract wealth into tax havens controlled by group A ... the tax havens wealth is estimated at Dlrs trillion 20 to 30 .
the international elite I E  meaning the rich in groups A and B , have succeeded in creating a grip over USA army and the FRS system including IMF  , and thru it the IE already controls almost all group B , barring some potential of fight back by China ,Russia mainly .

the economics principals as implemented in group A are different than in group B .
[9/4/2015, 10:36 AM] +91 99714 07788: in Russian literature , IE is different from grp A , and grp B is yet separate entity to be exploited by the IE using the military and FRS IMF ,and via  country wise treaties signed with grp B  countries with IMF.
these treaties are not advertised by IMF though these are taught to new country heads recruits into IMF and are available here and there on the web .

Almost 99% of the videos and blogs on the web , try to make sense of the policies of the FRS from the interest point of view of the middle class in grp A ,
while not seeing the hidden hand of the IE within the FRS system , this IE hand that rocks the IMF FRS from within is even disinterested in the middle class of its own countries eg USA UK Japan Germany France- EEC !!!

so the blogs in USA lime Peter Schiff , Hudson , Alastair MacLeod , varifoukis , celente , Rickards , and many many others are confused why the FRS system has not broken down since 2008 Aug till now ...

the middle class of grp A is being thrown to the dustbin alongside dustbin of grpB let me label this as grp DB aka dustbin group .

Read or see video by Joan Veon , where she explains the UN s World Govt. program ,
imp. read about UN s agenda 21 since 1945 that inter alia every year publishes progress reports on its success in reducing world population in another 80 or so years to only 1 billion total or less , thru induced infertility amongst other methods !
our Rajan has also written praises for one world Govt program of UN , that includes pop. reduction without asking Russia India etc , !

the IE serves itself and in future a  severely reduced number in grp A , thus the nomenclature International Elite .
hoax economics is keeping grp DB confused thru blogs discussing gold prices , inflation deflation etc.

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 M Jayaram M, bangalore: Excellent summary. I agree wholeheartedly

==============================================================

 sir
flwg is my response to ?your impression that ,

that sovereign debt loan achieved by Mr. Modi in Dubai  comes from oil wealth savings , and that no country including India can create its own sovereign money
if you read as per flwg link

http://www.financialexpress.com/article/economy/india-among-top-5-sovereign-em-debt-issuers-moodys/129536/

it will show that so called term sovereign debt 'it' does not constitute savings of a Govt. ,
 it refers to money borrowed by a Govt. from its Central Bank ,
the central bank creates electronic money loan to the Govt. against a promissory note / bond issued by the Govt . ,

ha ha
same applies to Abu Dhabi Govt , they also borrow from their central bank
ha ha
and that money shall then be loaned to India at somewhat higher interest ..
ha ha
so what is limiting Indian Govt to borrow more from Indian Central Bank CB for short , ha ha .. Mr Rajan gets salary from IMF to say no to Modi s Govt ,

ha ha

And
The most important insight ...

why should a sovereign Govt. need to borrow new electronically created money against its pro note given to its CB
is RBI on parliament St a deptt. under our sovereign elected Govt . or not ? or is RBI chairman a conduit to arrange Indians to pay interest to foreign insttns . ?

what is to stop our pm or fin min ,from creating equal amount of money by making an entry in the Consolidated fund of India , and after some time , equal to the loan period granted by say abudhabi , fin min could simply erase same amount from its Consolidated account .

no trips to Abu Dhabi and our country shall save huge  interest payable in foreign exchange .

sir ,
Even advanced country s sovereign funds are ' manufactured ', ad per IMF whims on the press of electronic buttons ! 

surely , this had better be discussed in person !

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 i. M Jayaram M, bangalore:

This method of govt operation is common to the point of absurdity. U.S. Govt could have written cheques or printed money- but they borrow from FRS !!!
Oil money is the form of TPM (toilet paper money ).it has as much intrinsic value as the useless dollar.
Why can't we promote manufacture in India and improve infrastructure which is relevant to India unlike aping the west and building bullet trains.
Yes, we have a lot to talk about. Next week, maybe Tuesday lets get on Skype

. M Jayaram M, bangalore: https://www.youtube.com/watch?v=4OVAROe3gW4

"An antidote to Ravi Garg"

The Skype message from Rajiv Bhushan

 i. M Jayaram M, bangalore: http://itsthepeoplesmoney.blogspot.com/2015/06/you-know-you-understand-modern-money.html

A primer on modern money - sent by Rajiv


 Rajiv ,

 my comments

1...The way the nation s monetary system is managed is SIGNIFICANTLY different in different countries/nations/currency areas ,
eg , USA ,...UK ,.... EEC ,...
 Germany ,
 India , Russia , China ,
 Japan ,etc ,..

2.... India (1947-1950), Russia (around 1991) , China , Japan , were forced to sign treaties , that are approved by their Contitutions ,
that gave away credit creation independence to their imperial masters ,
-respectively,- to UK then USA after bretton woods 1945 updated via  Jamaica 1972 . ...

3... the currency s issued by each of India , Russia , China , Japan are currency s of OCCUPIED COUNTRIES ,( -same as USA now manages the currency in Libya after occupying Libya in 2014-, or the way England managed the Rupee and banking ,eg , gold reserves , foreign exchange rates , bill discounting via London etc. in India say 1850-1950 ),

 and

each currency/credit  is issued/managed under full (selfish ) control of USA-IMF fully as USA-IMF is  the OCCUPIER ( IMPERIAL ) master of such counties .

 UK is a special case ...

EEC/EURO is also an OCCUPIED "country " in terms of the amount of credit that EEC CB central bank can issue

,-including decisions as whether the credit money will be used for
 a-sustainable employment or  b-asset appreciation bubbles  or c-or for loaning to IMF-suggested loan takers like India who in turn  end up becoming debt slaves to electronic money  .  ................