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07-06-2012, 01:20   #1
superluck
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Central Banks are privately owned

There's a widely held misconception amongst far right thinkers that all money is owned by someone that "worked hard" or "earned it" and thus the peasants don't deserve anything except starvation, incarceration and death for disobeying the rules of law which the wealthy themselves have no problem circumventing.

Isn't it strange central banks can magically find money to buy high-tech weapons and invade other nations overseas but can't find money to help their own people?

Look at some recent examples of this in the below article and ask yourselves why a bunch of sanctimonious crooked politicians would care about the welfare of peasants in some far away desert when they can't even be bothered to look after people in their own country.
MILITARY-INDUSTRIAL COMPLEX: The Money Continues to Flow Like Wine: Defense Dept. Contracts for May 29, 2012

These contracts run into billions of dollars and illustrate cogently the ineptitude of those arguing for austerity through cuts to education and health and other infrastructure.

The US government cites lack of money for closing down the schools in some US states but ...funnily enough, there's plenty for weapons and of course private banks that can borrow at 0% and buy a treasury bond with 2.5% return.

I've been arguing before that central banks are privately owned by extremely wealthy people, It aggravates me to see people believe central banks are owned by the people when the people can't even get a loan for 0% from the central bank.

Is it not obvious to everyone these central banks are privately owned?
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07-06-2012, 01:37   #2
Daithi 1
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There is no way in the world the central bank could be privately owned, like the federal reserve. Absolutely no way. Coz I aint seen proof.


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07-06-2012, 02:32   #3
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If it was in the politics forum, It wouldn't be long moved here yet nobody in the politics forum can explain how a central bank owned by the people for the people has to borrow money from it at 2.5%

Anyone that believes the people own the central bank are incapable of explaining why the governments need to borrow from the central bank with interest.
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07-06-2012, 02:46   #4
troposphere
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The US government cites lack of money for closing down the schools in some US states but ...funnily enough, there's plenty for weapons and of course private banks that can borrow at 0% and buy a treasury bond with 2.5% return.
k-12 education is mostly a local and state issue

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07-06-2012, 03:07   #5
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Speaks for itself.
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07-06-2012, 03:12   #6
troposphere
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Speaks for itself.
Not really, K-12 education is funded by local property taxes and state tax with minimal funding from the federal government. The federal government has no role in closing schools unless I believe they take them over because they are failing so bad.
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07-06-2012, 03:16   #7
enno99
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If it was in the politics forum, It wouldn't be long moved here yet nobody in the politics forum can explain how a central bank owned by the people for the people has to borrow money from it at 2.5%

Anyone that believes the people own the central bank are incapable of explaining why the governments need to borrow from the central bank with interest.
Victoria Grant, aged 12, became an overnight Internet sensation after a video of her slamming Canada's banks and the government for robbing the people went viral.

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07-06-2012, 03:26   #8
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@troposphere: How is that even relevant? Because it's federal, it's okay?

It's perfectly fine to borrow money from the central bank at 2.5% ?

I think you're missing the point here my friend, the problem isn't with the lack of money, it's who controls it, that's the problem.

The Central Bank shouldn't be earning any interest from money the government borrows unless of course it's privately owned, are you agreeing that it is?

Incidentally, most of the defense projects funded by the US taxpayer reap absolutely no benefit to the US taxpayer. The profits made by the contractors are paid out in dividends each quarter to the shareholders.
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07-06-2012, 03:57   #9
troposphere
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@troposphere: How is that even relevant? Because it's federal, it's okay?

It's perfectly fine to borrow money from the central bank at 2.5% ?

I think you're missing the point here my friend, the problem isn't with the lack of money, it's who controls it, that's the problem.

The Central Bank shouldn't be earning any interest from money the government borrows unless of course it's privately owned, are you agreeing that it is?

Incidentally, most of the defense projects funded by the US taxpayer reap absolutely no benefit to the US taxpayer. The profits made by the contractors are paid out in dividends each quarter to the shareholders.
You are the one who brought up school funding in your original post when you obviously did not understand how schools are funded in the US.
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07-06-2012, 04:05   #10
superluck
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You are the one who brought up school funding in your original post when you obviously did not understand how schools are funded in the US.
No, the problem here is you don't understand the purpose of a central bank.
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07-06-2012, 04:22   #11
troposphere
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No, the problem here is you don't understand the purpose of a central bank.
Actually I could care less, next time learn about something before using it as an example to back up what you think is wrong about a country.
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07-06-2012, 04:53   #12
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Speaks for itself.
Superluck, you're chart is so incredibly bad and cherry picked it is hard to know where to begin.

Eh... Where's social security spending?

Eh... Where's medicaid and medicare?

Finally, who the hell is the National Priorities Project?

Last I remember, we spent less on Defense than on Social Security OR medicaid/medicare.

Discretionary spending... Please.

If you want us to entertain your hypothesis about central banks you shouldn't present such biased charts.
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07-06-2012, 11:26   #13
studiorat
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If it was in the politics forum, It wouldn't be long moved here yet nobody in the politics forum can explain how a central bank owned by the people for the people has to borrow money from it at 2.5%
You should ask in the Economics Forum. Perhaps a moderator would move it for you...

The Central Bank is an agency of the government. It manages the euro in Ireland, the regulation of financial institutions, it also monitors the economy and gives advice to the government. Although last year Central Bank paid 671 million euro to the exchequer, it isn't set up to make a profit.

It would seem the OP if getting it mixed up with the Federal Reserve in the US.

Why this obsession with America? I dunno, perhaps you should visit!

Last edited by studiorat; 07-06-2012 at 11:29.
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07-06-2012, 12:09   #14
humanji
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You should ask in the Economics Forum. Perhaps a moderator would move it for you...

The Central Bank is an agency of the government. It manages the euro in Ireland, the regulation of financial institutions, it also monitors the economy and gives advice to the government. Although last year Central Bank paid 671 million euro to the exchequer, it isn't set up to make a profit.

It would seem the OP if getting it mixed up with the Federal Reserve in the US.

Why this obsession with America? I dunno, perhaps you should visit!
Don't make it personal!
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07-06-2012, 16:48   #15
Jonny7
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US military spending is about 5% of GDP
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