tag:blogger.com,1999:blog-53246864840716464.post7659276225109887666..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: The World's Biggest Central Bank Has Private ShareholdersUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-53246864840716464.post-18912576094642054532011-07-30T00:19:20.028-07:002011-07-30T00:19:20.028-07:00In the end the update is unnecessary. The BIS is ...In the end the update is unnecessary. The BIS is owned by central banks which are owned by the big transnational banks which are owned by private interests. Then note that a vast majority of stocks, including those of financial companies are owned by the wealthiest 1%. It makes little difference if those narrow private interests own the BIS directly, or that they own the "chain" leading to controlling interest in the BIS, the result is the same. <br /><br />Even though many of these banks are publicly traded, they are NOT publicly run. If these banks were truly public, their books would be wide open for each and every stockholder to see, including all the accounting and formulas used to assign value. Mark-to-market values, all the off-the-record liabilities, etc. would be registered and publicly available. But these are all considered trade secrets, and these banks and their private controllers are simply allowed to make whatever value they want, and say to the public, "trust us." <br /><br />It is the height of stupidity to allow public pension funds to invest in these institutions that have no effective oversight whatsoever, no enforcment of current laws, and no investigation into clear and demonstrated fraudulent practices like the whole fraudclosure mess.<br /><br />Believe me, the private interests have already demonstrated very decisively they will take the money and leave the public with the liability bag-- either the taxpayer, through bailouts, or public pension stakeholders, through eventual bankruptcy.Zeus Yiamouyiannis, Ph.D.https://www.blogger.com/profile/10439633397619409092noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-90182630433617280162011-07-29T20:57:23.318-07:002011-07-29T20:57:23.318-07:00It doesn't matter a jot. They are still contro...It doesn't matter a jot. They are still controlled by a few individuals. Agency is what it is all about. The deafening lack of warning about depression confirms that they keep such information to themselves and always will. It is the cost, one of them, of having inflationary banking. <br /><br />What happened to the money made by Rockefeller? The 7 sisters? Where did it go? If we do not know then we are not sure that it did not go into control say, of the banking industry. All done via nominee owners. Interlocking holdings mean only a few families control America and they aren't all as far seeing as Henry Ford.Fungus the Photo!https://www.blogger.com/profile/14879977479841544025noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-37697088456648157702011-07-28T23:41:39.388-07:002011-07-28T23:41:39.388-07:00I'm baffled by how many Americans I've tal...I'm baffled by how many Americans I've talked to simply don't believe that the Fed is a private entity, but won't check it out for themselves. The power of blind faith remains shockingly potent.James Tam 谭炳昌 (过渡)https://www.blogger.com/profile/04425158964357728038noreply@blogger.com