Updated October 29th 2014 – We used to pray earnestly before assembly. We used to pray before solemnly before senate, parliament and congress in those meetings that concerned themselves with world governance, finance and commerce. Prayer in Chamber’s of commerce still occurred in the 1800’s and the 1900’s so do not be surprised when I ask you to bow your heads for a brief prayer before our meetings. – Prince Jose Maria Chavira Adagio Al-Hussayni M.S. Owner Chairman Board of Governors World Bank
What is a Central Bank? What is a Reserve Bank and How are they important to me and my country by Prince Adagio Chairman Board of Governors World Bank.
August 13 2014 Mazatlan Santa Maria Espíritu Santo – Prince Adagio – A Central Bank, A Reserve bank, or Monetary authority is an institution that manages a state’s currency,money supply, and interest rates.
Central banks also usually oversee the commercial banking system of their respective countries.
In contrast to a Commercial bank, a Central Bank possesses a monopoly on a steadily increasing the amount of money in the nation due to population growth (Census) and Commerce, and usually also prints the national currency, which usually serves as the nation’s legal tender.
Examples of major Central Banks include the European Central Bank (ECB) and the Federal Reserve of the United States.
The primary function of a Central Bank is to manage the nation’s money supply Monetary Policy issued by a higher governing power known today as World Bank.
World Bank does this through active duties such as managing interest rates, setting the reserve requirement for each central bank and adjusting reserve holdings to commiserate with currency and keep its value strong and as strong as the working nation wills it to be.
In the old days World Bank and maybe in the future will act as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
For the moment, In God we Trust and there is nothing to worry about.
Central banks have supervisory powers over smaller private banks, but in a corrupt system can take their orders from a private bank that is owned by a Mason arms dealer.
Central banks have supervisory powers are intended to prevent corruption in commercial or privately owned banks under their auspices.
Central banks have supervisory powers that are intended to reduce the risks that commercial banks and other financial institutions engage when they get involved in reckless or fraudulent behavior such as in the old Mason organized crime system that opposed money laundering and its richest Mason’s were their greatest money launderers (The IMF).
Central banks in most developed nations are institutionally designed to be independent from political interference, but Mason’s and their religion of Democracy ruined the intentions of a format established by God to insure no politician becomes a Mason Banker or a Mason banker becomes a politician.
Today a Central bank is very limited and are little controlled by the executive and legislative bodies that are incorporated in world banks that are essentially today order takers, untill I can get to them with the team chosen by Providence through voting to be on the new Board of Governors.
The chief executive of a Central Bank is normally known as an elected Manager, Governor, President or Chairman who represents his or her Central Bank as a Governor to the World Bank and is not tied to politics or politicians in any way or sort other than through indirect commerce e.g. credit cards and private loans.
History of Central Banks
The central bank of Sweden “Sveriges Riksbank” or simply “Riksbanken” was founded in Stockholm in 1664 and answered to the Parliament at Mann “Riksdag of the Estates”
One role of the Swedish central bank was lending money to the government. Prior to the 17th century most money was commodity currency money, typically gold or silver. Copper and Bronze and Mixed metals were also used.
However when currency turned paper and corruption founded inflation, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia.
In China, the Song Dynasty was the first to issue generally circulating paper currency, while the Yuan Dynasty was the first to use notes as the predominant circulating medium.
In 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade.
The medieval European Knights Templar ran an early prototype of a central banking system, as their promises to pay were widely respected, and many regard their activities as having laid the basis for the modern banking system.
As the first public bank to “offer accounts not directly convertible to coin”, the Bank of Amsterdam was established in 1609 and is considered to be the precursor to modern central banks.
The central bank of Sweden “Sveriges Riksbank” or simply “Riksbanken” was founded in Stockholm in 1664 and answered to the Parliament at Mann “Riksdag of the Estates”
The Old World Bank and Central Bank of England and Todays Central Banks
In England in the 1690s, public funds were in short supply and were needed to finance the ongoing conflict and wars with France.
The credit of William III’s government was so low in London that it was impossible for it to borrow the £1,200,000 (at 8 per cent) that the government wanted.
In order to induce subscription to the loan, the subscribers were to be incorporated by the name of the Governor and Company of the Bank of England. The bank was given exclusive possession of the government’s balances, and was the only limited-liability corporation allowed to issue banknotes. The lenders would give the government cash (bullion) and also issue notes against the government bonds, which can be lent again.
The £1.2M was raised in 12 days; half of this was used to rebuild the Navy. The establishment of the Bank of England, the model on which most modern central banks have been based, was devised by Charles Montague, 1st Earl of Halifax, in 1694, to the plan which had been proposed by William Paterson three years prior.
He proposed a loan of £1.2M to the government; in return the subscribers would be incorporated as The Governor and Company of the Bank of England with long-term banking privileges including the issue of notes. The Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694.
The Bank of England, established in 1694. Although some would point to the 1694 establishment Bank of England as the origin of central banking, it did not have the functions as a modern central bank, namely, to regulate the value of the national currency, to finance the government, to be the sole authorized distributor of banknotes, and to function as a ‘lender of last resort’ to banks suffering a liquidity crisis.
The modern central bank evolved slowly through the 18th and 19th centuries to reach its current form. Although the Bank was originally a private institution, by the end of the 18th century it was increasingly being regarded as a public authority with civic responsibility toward the upkeep of a healthy financial system.
The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was soon accused by the “Bullionists” – traders opposed to “PTPS” Promise to pays and paper– of causing the exchange rate to fall from over issuing banknotes, a charge which the Bank denied.
Nevertheless, it was clear that the Bank was being treated as an organ of the state. Henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the Bullionist position and a significant figure in monetary theory, his process of monetary expansion anticipating the theories of Knut Wicksell regarding the “cumulative process which restates the Quantity Theory in a theoretically coherent form”.
As a response to the 1797 currency crisis, Thornton wrote — in 1802– “An Enquiry into the Nature and Effects of the Paper Credit of Great Britain,” in which he argued that the increase in paper credit did not cause the crisis. The book also gives a detailed account of the British monetary system as well as a detailed examination of the ways in which the Bank of England should act to counteract fluctuations in the value of the pound.
Walter Bagehot, an influential theorist on the economic role of the central bank. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation.
Many consider the origins of the central bank to rest with the passage of the Bank Charter Act of 1844 an important event no doubt that took place during the prime of Joseph Smith’s life.
Under this law, authorization to issue new bank notes was restricted to the Bank of England. At the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt. The Act served to restrict the supply of new notes reaching circulation, and gave the Bank of England an effective monopoly on the printing of new notes.
The Bank accepted the role of “Lender of Last Resort” in the 1870s after criticism of its lackluster response to the “Over/Under Gurney Crisis”.
The journalist Walter Bagehot wrote an influential work on the subject Lombard Street: A Description of the Money Market, in which he advocated for the Bank to officially become a lender of last resort during a credit crunch (sometimes referred to as “Bagehot’s dictum”.
Paul Tucker phrased the dictum as follows: “to avert panic, central banks should lend early and freely (ie without limit), to solvent firms, against good collateral, and at ‘high rates'”. Spread around the world Central banks were established in many European countries during the 19th century. The War of the Second Coalition led to the creation of the “Bank of France” in 1800, in an effort to improve the public financing of the war.
Although central banks today are generally associated with “Fiat Money,” the 19th and early 20th centuries central banks in most of Europe and Japan developed under the international gold standard, elsewhere free banking or currency boards were more usual at this time.
Problems with collapses of banks during downturns, however, lead to wider support for central banks in those nations which did not as yet possess them, most notably in Australia. The US Federal Reserve was created by the U.S. Congress through the passing of The Federal Reserve Act in the Senate and its signing by President Woodrow Wilson on the same day, December 23, 1913. Australia established its first central bank in 1920, Colombia in 1923, Mexico and Chile in 1925 and Canada and New Zealand in the aftermath of the Great Depression in 1934.
By 1935, the only significant independent nation that did not possess a central bank was Brazil, which subsequently developed a precursor thereto in 1945 and the present central bank twenty years later. Having gained independence, African and Asian countries also established central banks or monetary unions.
The People’s Bank of China evolved its role as a central bank starting in about 1979 with the introduction of market reforms, which accelerated in 1989 when the country adopted a generally capitalist approach to its export economy. Evolving further partly in response to the European Central Bank, the People’s Bank of China has by 2000 become a modern central bank.
The most recent bank model, was introduced together with the Euro-dollar, involved coordination of the European national banks, which continue to manage their respective economies separately in all respects other than currency exchange and base interest rates.
The Naming of Central Banks
There is no standard terminology for the name of a Central Bank, but many countries use Banco Nacional (National Bank ) a “Bank of Country” apelación de origen using vintage wine terminology.
Central Bank of Albania form (for example: Bank of England (which is in fact the central bank of the United Kingdom as a whole), Bank of Canada, Banco Nacional of Mexico that converted to the name Banco de Espíritu Santo. Then there is Bank of India in common that in common times were government-owned now they are managed by government.
A point that should be mentioned is the Central Bank of the European Union who in a magnanimous fiscal move that through the holdings of South African and European arms dealers created a strong Eurodollar very fast and very quick.
This move by the European Central Bank shocked many Americans that for years after going off their Gold Standard in 1972 – enjoyed the prestige and strength of the dollar and were now faced with their debt holder’s in an effort to put them in their place and having George Bush Jr. and several American Industrialist and Power Politicians and even Admirals and Generals in their pocket.
This made the takeover of the United States between 2000-2011 by the European Alianza easy and unnecessary was the Alianza’s George Bush CIA led Twin Tower World Trade center bombing’s a moved that rocked commerce, destroyed a lot of data that was not backed up intentionally and put in havoc Central Banks around the World and World Bank and set up poor countries and even the United states for pogroms, but one the Holy Spirit countered to keep the world Stable while Mason’s took credit for all the moves needed to keep the world stable in the media and said little about the worldwide pogroms and ethnic cleansing taking part in different parts of the world.
The Alianza did not need this at all and their strategy to Unite in a Central Bank for the European Union was not only genius it was also a milestone for regional economic strategies to balance out marginalized european neighbors.
A note of importance is the Commercial Bank or a Bank of Commerce. All Banks are –in a sense– Bank’s of commerce that look to invest in sure things and in the old system regular CD holder’s made 1 to 4% on average while bank earnings though credits cards charged as high as 35% interest on a revolving Gold Master cards and 49% on a regular master card and this in poor countries.
Some Central banks are styled “National” Banks, such as the National Bank of Ukraine, although the term national bank is also used for private commercial banks in some countries especially when old Mason European arm’s dealers were in charge of the World.
In other cases, central banks may incorporate the word “Central” (for example, European Central Bank, Central Bank of Ireland, Central Bank of Brazil); but the Central Bank of India is a (government-owned) commercial bank and not a central bank. The word “Reserve” is also often included, such as the Reserve Bank of India, Reserve Bank of Australia, Reserve Bank of New Zealand, the South African Reserve Bank, and U.S. Federal Reserve System.
Think of a reserve Bank like Fort Knox where the reserves and documents that back currency are held and separate in most cases if not all from the Bank itself whose currency if robbed can and should be reported immediately and the loss does not hurt anyone.
Series number on currency are supposed to be controlled by automated computers to fool thieves, but to lower level syndicate mafias the Mason politicians owe a debt to and this adds to inflation as does military debt uncheck reworked and over-inflated with interest rate games by those who control the world and the Holy Spirit without fanfare has to fix economies worldwide albeit unseen for reasons of free will, until I am ready to take charge,
Other Central Banks are known as “Monetary authorities such as the Monetary Authority of Singapore, Maldives Monetary Authority and Cayman Islands Monetary Authority. Many countries have state-owned banks or other quasi-government entities that have entirely separate functions, such as financing imports and exports.
A note of interest – no pun intended – is in some countries, particularly in some Communist countries, is that the term National Bank may be used to indicate both the monetary authority and the leading banking entity, such as the Soviet Union’s Gosbank Their (State Central Bank) that oversees smaller central banks that preside in each state. .
In other countries, the “Term” — National Bank — is be used to indicate that the Central Bank’s goals are broader and greater than monetary stability and include humanitarian and commercial categories such as:
- Employment Providers
- industrial Development
- Agricultural Research
- Small Business Loans
- Credit Card Institutions
- Charitable Causes
Philanthropy and the promise of development to countries in debt many of whom many like Africa were exploited for their resources without much benefit all considering the money that was being made of their Industrials and their Natural resources.
The Eccles Federal Reserve Board Building in Washington, D.C. housed at one time the main offices of the Board of Governors of the United States’ Federal Reserve System.
This will most likely change to a neutral venue chosen by providence and made evident by manifest destiny and supernatural power that could only be God the same God that parted the Red sea and saved us from the World Bank of Ramses II the arms dealer of the day.
Again the Functions of a central bank include but are not limited to: implementing policy that is in accord with their debt keepers that determine the interest rates that control the nation’s entire money supply.
This along with all federal Theocratic state reserves that are now balanced supernaturally by our Holy Spirit “The Wealth of Nations” and the inheritance for humankind and all forms of life – should explain to many as to the disappearance of entire reserves for management reasons and economic ledgering of a countries re-stabilization of their currency that is this day in eternity out of the control of the hands of men and economists –no matter how and what they write and today — and under the Control of our God, the same one that we place our trust in on our currency and a detail that we shall forever do in our eternal journey through time. Amen.
Authorized by the Holy Spirit and written by – JV AGNVS DEI VERBVM DEI Principe Jose Maria Chavira Adagio Al-Hussayni M.S.. AKA KHAN V PRIMOGENITVS FILVS DEI – Nome de Plume JCANGELCRAFT- Adagio I – in partnership with the Holy Spirit