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#1034517 - 7th Apr 2017 1:49am European Banks
granny Offline

Wiki Master

Registered: 29th Jun 2011
Posts: 14159
Loc: Wirral
Having great difficulty understanding all the different financial institutions and banks (not high street banks), the purpose of each one and how they relate to each other.

We have;

IMF ..International Monetary Fund

EIB..............European Investment Bank (which is where UK money goes apparently)

Central Bank of Luxembourg founded the same year as ECB in 1998.It is part of the European System of Central Banks (what does that mean?)

ECB..............European Central Bank based in Luxembourg (Tax Haven country)

World Bank.......Washington.US.

Then there is foreign aid budget £12 billion.

EIB .............has loans of £332 billion from who?. UK's contribution about £35 billion. (that must be paying off the interest of the £332 billion to who ?)

EIB .............are investing in Morocco and other African nations,and why ? That's not Europe ! I thought that was the job of the World Bank .

IMF..............Global Organisation provides loans to countries in need.

The World Bank...provides loans to countries world wide in need.

Well, if you are not confused by now, I certainly am. Then we read this link on page 8 and if anyone can explain what it means, I'd be grateful and thank you....................

"The risk appending to the UK’s shareholding in the European Central Bank –
quantified at just €1.5 billion – is nebulous: the ECB only exists because the
euro exists, and the UK is a Euro-Out countries. Nevertheless the UK is a 14%
shareholder, the ECB counts the UK’s currency and bullion reserves as part of
its own reserves, and the ECB is spinning a very large wheel on a very small
capital base of just €10 billion. The spinning wheel’s gyrations are on a par with
the ECB’s quoted reserves of €2.13 trillion, rather than with its capital, inferring
the ECB contemplates the reserves as the collateral for its operations, and that it
can access those reserves to cover any loss. The UK’s Maximum Possible Loss in
connection with the ECB needs to be considered as a wild card.
Note on IMF Funding
IMF funding, as in the case of the 2010 support for Ireland, is not granted in
isolation or without stringent conditions. In that case the IMF provided 1/3 of the
€67.5 billion non-Irish element of the package of €85 billion. A UK contribution to
the IMF is not a back-to-back loan into a borrower country; the UK participates
with many other nations as contributors, and towards many other nations as
borrowers. IMF funding is contingent upon the other funding being made available
in a co-funding model, and upon compliance with the IMF’s conditions on austerity
and supervision. As such the writer regards the UK’s risks on Eurozone nations
as tertiary through the IMF, and that the IMF issue is something of a distraction
and relatively insignificant compared to the UK’s primary exposure to EU financial
mechanisms as shareholder and guarantor, and to the UK secondary’s exposure
to the ‘wild card’ of the European Central Bank and to the governance models
through which exposure ceilings can be raised and safeguards removed "

Edited by granny (7th Apr 2017 2:02am)
...and those who were seen dancing were thought to be insane by those who could not hear the music.FN

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#1034518 - 7th Apr 2017 3:09am Re: European Banks [Re: granny]
diggingdeeper Offline

Wiki Guardian

Registered: 9th Jul 2008
Posts: 9997
Loc: Birkenhead
The world as a whole is in huge debt, the banks and financial institutions are the people that facilitate that ridiculously impossible logic while in the process of syphoning off plenty of that same money.

Its quite easy to follow the loop that shows the UK borrows some of its money from itself, minus a percentage of course.
In a time of universal deceit - telling the truth is a revolutionary act. George Orwell

When the debate is lost, slander becomes the tool of the loser. Socrates

#1034525 - 7th Apr 2017 8:32am Re: European Banks [Re: granny]
fish5133 Online   content
Forum Master

Registered: 22nd Mar 2010
Posts: 2917
Loc: Heswallish
Gets even more confusing when the "money" itself does not actually exist in the form of notes and coins but purely as numbers in accounts. A cashless society puts almost total power in hands of banks govts financial institutions.


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