European Central Bank (ECB): Banking Profiles

Executive Summary

• The European Central Bank is often thought to support the EU countries, but it is a primary force for bad outcomes for these countries.

Introduction

The ECB is described in the following quotation.

Its stock held by the EU 27 member countries. And the ECB is based in Frankfurt, which is the point of origin of the Rothschilds banking family which also dominates The Bank of England and which had controlling interest in all of the private banking interest US central banks. Three banks, The Bank of France, The German Bundesbank and The Bank of Italy control 62% of the bank’s paid up capital. Loans from the EU and therefore the ECB are met with requirements for austerity. The following describes the fact that nearly all of the individual central banks in the EC member countries are public. “Moreover, the Fed’s private ownership is now out of step with practically every other major central bank around the world. For example, the Bank of Canada and the Bank of England became public in 1938 and 1946, respectively, while the European Central Bank has been a public institution since its inception in the 1990s. Nearly all of the 19 national central banks in the eurozone are fully public; the lone exceptions are Belgium, Greece, and Italy. And the Bank of Japan and the Swiss National Bank each have miniscule amounts of outstanding shares, the majority of which are held by other public institutions.” – A Public Fed, Why and How

Source: Economic Policy Institute

https://www.epi.org/publication/making-the-federal-reserve-fully-public-why-and-how/

However, this begs why the individual central banks in Europe appear to follow the interests of private bankers rather than public banking. The creation of the ECB is curious because the following quote from Fed critic and US Congressman Louis McFadden indicated that international banking interests had a desire to be supernational.

“The Federal Reserve Bank of New York is eager to enter into close relationship with the Bank for International Settlements….The conclusion is impossible to escape that the State and Treasury Departments are willing to pool the banking system of Europe and America, setting up a world financial power independent of and above the Government of the United States….The United States under present conditions will be transformed from the most active of manufacturing nations into a consuming and importing nation with a balance of trade against it.” – Louis McFadden / AZ Quotes

And this quote

“The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.” ~ Carroll Quigley / AZ Quotes