who owns the central bank of Ireland?

kev68in

please can any one enlighten me as to whom owns the central bank of Ireland ive seem to be getting no where with my search
any information at all i would be most great full

Shield

Moved from Newbies & FAQ to Banking & Insurance & Pensions with redirect expiring in 7 days.

Pablo Sanchez

kev68in wrote: »

please can any one enlighten me as to whom owns the central bank of Ireland ive seem to be getting no where with my search
any information at all i would be most great full

Im not sure exactly what you are looking to find out, who own it? Ultimatly the people of Ireland own it.

kev68in

the profits that the bank makes does not go to the people of Ireland .do share holders own it ? is there a way of finding out if there is a majority share holder?

Pablo Sanchez

kev68in wrote: »

the profits that the bank makes does not go to the people of Ireland .do share holders own it ? is there a way of finding out if there is a majority share holder?

There are no shareholders in the central bank, is this a wind up?

Pablo Sanchez

Information on the responsabilities of the central bank and its policies is available on their website:

http://www.centralbank.ie/mpolbo/Pages/introduction.aspx

Yawns

The real answer is the Germans own it...

kev68in

so the central bank is a regulator of monetary policy maintaining price stability in Ireland .do they make profits?and if so who gets it. I'm sorry if i sound a bit dimm but it seem to me that when there has been a catastrophy in the banking sector like there has. the regulator central bank is not paying for its mistakes .It is passed on to the tax payer how is this aloud to happen.

kev68in

the fed in america that prints the money is privately owned i was just woundering if it was the same with the cental bank of ireland and did any one know

Cool Mo D

kev68in wrote: »

the fed in america that prints the money is privately owned i was just woundering if it was the same with the cental bank of ireland and did any one know

The Federal Reserve is not privately owned. It is owned by the United States. Like the Irish Central bank, it returns surplus income to the exchequer. Last year the Irish Central Bank paid 671 million euro to the exchequer.

If you are curious, that annual report of the Irish central bank is here.

kev68in

the fed made 82 billion last year returned 79 billion of that to the us treasurey .

kev68in

for every dollor that is printed in the US as with the Euro a dept is created . The fed prints the dollor lends it to the govenment with intrest put on that dollor. the intrest to pay the intrest on the dollor printed is meet by printing another dollor there are some very wealthey bankers that sit at the top of these banks.they own us threw dept i would like to find out whom owes me

coylemj

kev68in wrote: »

the fed in america that prints the money is privately owned i was just woundering if it was the same with the cental bank of ireland and did any one know

kev68in wrote: »

the fed made 82 billion last year returned 79 billion of that to the us treasurey .

If the Fed is a private company, why did they pay over 96% of their profit to the US Treasury - and how come the President appoints the Chairman of the Federal Reserve?

The Central Bank of Ireland, the Bank of England and the Federal Reserve in the US are agencies of each government, they are generically known as central banks and you can consult their websites to see what they're about but they are not private companies, they are 100% owned by their respective governments.

http://en.wikipedia.org/wiki/Central_bank

BuffyBot

Moving here, as it seems more relevant a place.

click_here!!!

The Central Bank of Ireland is an agency of the Irish government. It manages the euro in Ireland, regulation of financial institutions, monitors the economy and gives advice to the government (and more, see http://en.wikipedia.org/wiki/Central_Bank_of_Ireland#Functions_and_objectives). It isn't set up to make profits.

The Central Bank of Ireland is not the same as Bank of Ireland (wiki: http://en.wikipedia.org/wiki/Bank_of_Ireland), a private bank.

The US Federal Reserve is privately owned. However, it isn't exactly true that it's set up that way to suit a capitalist elite. (source: http://www.straightdope.com/columns/read/1214/who-owns-the-federal-reserve) The ownership of the Federal Reserve is a favorite topic among conspiracy theory people. These same theorists want to abolish fractional reserve banking – despite the fact that this would reduce business' access to credit, etc.

later12

To answer your initial question, OP, the answer is that the Central Bank of Ireland is established under the Central Bank Acts 1942 - 2010.

It is a body corporate - as you note - with an official state seal. Someone has already linked to the CBI's official site which should be more helpful.

ECB profits are handed down to the Irish Central Bank (as well as other central banks) and these are given to the exchequer or else held as reserves by the Central Bank.

There is an interesting question about CBI liabilities (re: emergency liquidity) and state liability, but I guess that may be more of a political-legal issue than one for economics.

kev68in

hasent access to credit been reduced to business by the very system they call fractional reserve banking

later12

No, it would be incorrect to make such a condensed statement, I think.

Fractional Reserve Banking is a very elastic process - in theory, credit can be tightened or expanded relatively easily.

If anything, the usual criticism of FRB would be that it is the very business of FRBing to issue loans by leveraging deposits, and that this expands credit availability.

kev68in

i have made my condensed statement and i stick by it .you could go on till you are blue in the face but look what a mess FRB has gotten the world into the fiat money system is a scam you can preach all you want on how marvelous it is but look at history and the boom and bust it causes

click_here!!!

hasent access to credit been reduced to business by the very system they call fractional reserve banking

kev68in wrote: »

i have made my condensed statement and i stick by it .you could go on till you are blue in the face but look what a mess FRB has gotten the world into the fiat money system is a scam you can preach all you want on how marvelous it is but look at history and the boom and bust it causes

Explain the precise way that banks creating credit from temporarily-unused deposits actually restricts credit to businesses? :pac:

andrew

Just as a warning, this thread is very close to being locked on the basis that it comes under 'conspiracy theories,' as per the charter. Keep discussion to actual economic theory please.

Ryan22

well surely the REAL question that is being avoided here, is....What is backing the fiat currency, gold?, assets? labour???...one has to consider who OWN s the central bank when there is clearly no answer provided, no suitable answer that is, if the Irish people own it, I'd love to know where MY dividends are.. please enlighten me on that

Pablo Sanchez

Ryan22 wrote: »

well surely the REAL question that is being avoided here, is....What is backing the fiat currency, gold?, assets? labour???...one has to consider who OWN s the central bank when there is clearly no answer provided, no suitable answer that is, if the Irish people own it, I'd love to know where MY dividends are.. please enlighten me on that

The Irish People own the Cliffs of Moher, does that entitle you to pop over and take a chunk of their takings?

Its owned by the people for the peoples benefit. Your not a direct shareholder (nor are there any shareholders), so no dividends for you in afraid.

click_here!!!

Most modern currencies (e.g. Eurozone/American/Chinese/other countries' currencies) aren't backed by assets, except by a relatively small amount of gold and other fiat currencies.

But people still trust fiat currency for day-to-day earning and spending, so it works.

In the long-term, adherents of Austrian economics (which isn't mainstream) believe that only currencies backed by gold will be safe from inflation issues.

You know, you could send all these questions to the actual Central Bank, pick up a For Dummies book or just Google for the answer.

nesf

Ryan22 wrote: »

well surely the REAL question that is being avoided here, is....What is backing the fiat currency, gold?, assets? labour???...one has to consider who OWN s the central bank when there is clearly no answer provided, no suitable answer that is, if the Irish people own it, I'd love to know where MY dividends are.. please enlighten me on that

Your dividend comes in the form of the Central Bank giving money to the Government meaning the Government has to tax you less to balance the books.

Irish Sovereign

Cool Mo D wrote: »

The Federal Reserve is not privately owned. It is owned by the United States.

Are you kidding me? The Federal Reserve is a conglomerate of privately owned banks founded from a private meeting that took place on jeckyll island in 1913.It can not be audited which is why this years running presidential candidate Ron Paul created a bill called HR1207 trying to audit the fed.He tried it many years ago & didnt succeed.He even wrote a book called "End the Fed".

As for who owns the Irish central bank my guess is its privately owned like most central banks.The ECB is privately owned so I would guess that the Irish one is a well.

andrew

Irish Sovereign wrote: »

Are you kidding me? The Federal Reserve is a conglomerate of privately owned banks founded from a private meeting that took place on jeckyll island in 1913.It can not be audited which is why this years running presidential candidate Ron Paul created a bill called HR1207 trying to audit the fed.He tried it many years ago & didnt succeed.He even wrote a book called "End the Fed".

As for who owns the Irish central bank my guess is its privately owned like most central banks.The ECB is privately owned so I would guess that the Irish one is a well.

On that note, I'd refer you to posts which have already been made in this thread regarding the ownership structure of the central bank,(and also to the forum charter.)

SupaNova

Irish Sovereign wrote: »

Are you kidding me? The Federal Reserve is a conglomerate of privately owned banks founded from a private meeting that took place on jeckyll island in 1913.It can not be audited which is why this years running presidential candidate Ron Paul created a bill called HR1207 trying to audit the fed.He tried it many years ago & didnt succeed.He even wrote a book called "End the Fed".

As for who owns the Irish central bank my guess is its privately owned like most central banks.The ECB is privately owned so I would guess that the Irish one is a well.

Roughly about 95% of profits are consistently returned to the Treasury, the rest goes to unknown stockholders. So the US government is the largest owner by far.

The history of the Federal Reserve regarding Jeckyll Island and who was involved in setting it up should not be a conspiracy theory. Its only the tinted glasses when looking at the event that differ.

SupaNova

nesf wrote: »

Your dividend comes in the form of the Central Bank giving money to the Government meaning the Government has to tax you less to balance the books.

That's a very inaccurate way to twist it. Any government expenditure that cannot be paid from tax revenues can only be paid for through debt which has to be paid back or inflation which devalues any currency that you hold.

click_here!!!

Would people please stop with their conspiracy theories on here? One person said they 'guessed' that the Irish Central Bank is privately-owned. That information is freely available. In fact, it has been already answered on other posts here. Look it up, and stop bothering people about it.

Another thing, if you're going to have a conspiracy theory or not bother to research your facts, at least use proper grammar and spelling.

The quality of debate on this form is very poor, and I'm unsubscribing.

nesf

SupaNova wrote: »

That's a very inaccurate way to twist it. Any government expenditure that cannot be paid from tax revenues can only be paid for through debt which has to be paid back or inflation which devalues any currency that you hold.

It's broader than just tax revenues, Governments have more than just tax as an income base (though tax heavily dominates the mix).