It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
On December 11th, 2007, the Fed lowered its discount rate to 4.75%, but due to the lack of borrowing from the discount window in the previous weeks, and a lack of liquidity after the 2007 credit crunch, the Federal Reserve and several other central banks opened their short term lending windows, hoping to alleviate the strain on interbank lending markets. In the Federal Funds market the Fed, along with the Bank of Canada, Bank of England, the ECB and the Swiss National Bank, decided to implement a new monetary instrument the following day. This program, known in the US as the Term Auction Facility, enables the Fed to auction a set amount of funds to depository institutions, against a wide range of collateral. Auctions held on December 17th and December 20th released $20 billion each in the form of 28- and 35-day loans, respectively. On the December 17th Auction, bids began at 4.17% and ended with a rate of 4.65%, substantially below the discount rate. The Fed received over $63 billion in bids and released the full $20 billion to 93 different institutions.
Originally posted by KilgoreTrout
Over and over on these boards I see the assertion that the Rothschild's own the Bank of England, and the Bank of England and the Rothschild's control the Federal Reserve.
Originally posted by Aloysius the Gaul
The Bank of England was nationalised in 1946, so it belongs to "the Crown" - the Government of the United Kingdom.
In 1977, the Bank set up a wholly owned subsidiary called Bank Of England Nominees Limited (BOEN), a private limited company, with 2 of its 100 £1 shares issued. According to its Memorandum & Articles of Association, its objectives are:- “To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them....” Bank of England Nominees Limited was granted an exemption by Edmund Dell, Secretary of State for Trade, from the disclosure requirements under Section 27(9) of the Companies Act 1976 , because, “it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.” The Bank of England is also protected by its Royal Charter status, and the Official Secrets Act.