The Federal Reserve is illegal

The Rothschild family does not control the central banks of the world

A Facebook post circulated a list of "banks owned and controlled by Rothschild". It lists around 170 banks from almost all countries in the world. (archived: https://archive.vn/955H2)

EVALUATION: The claim that the central banks of the countries of this earth are owned or controlled by the Jewish banker family Rothschild is wrong.

FACTS: Another post, using the same list, claims in somewhat greater detail that 167 central banks are "owned by a single family, the Rothschilds." It goes on to say: “They have been active for more than 230 years, infiltrating every country on the planet and taking control through threats, manipulation and violence. There is no blank spot on the world map, the countries without a central bank owned by the Rothschilds. " Central banks are "illegal private banks, they operate an illegal private money system, supported by the alleged governments worldwide". The Rothschilds "control the machinations of any government at the macro level," it is said.

In fact, the vast majority of the central banks, which are usually responsible for monetary policy and the issuing of banknotes, are state-owned. This applies to practically all central banks that have been newly established since the end of the Second World War - for example after independence from colonial rule. The only exception is the central bank of Pakistan, which was later also nationalized.

Most central and central banks of older countries are also owned by the state. That was not always the case: it was only after 1945 that the nationalization of previously private central banks began on a large scale. In 1946, for example, both the Bank of England and the French National Bank were nationalized. In Austria, the National Bank was not nationalized until 2010: At that time, the federal government in Vienna, which already held 70 percent of the capital, also bought the remaining 30 percent from banks, insurance companies and interest groups.

Currently there are only a very manageable number of central banks that are not fully state-owned. According to a list in the Bank of England blog "Bank Underground", these are nine central banks of very different weight.

According to this list, the central banks of the USA and Italy are "privately" owned. The central banks of Belgium, Greece, Japan, San Marinos, Switzerland, South Africa and Turkey have other mixed ownership models that include private owners and institutions. In Japan, San Marino and Turkey the state is the majority shareholder, in Belgium and Switzerland the state has about half of the shares.

Ownership, however, says little about who is in charge of a central bank. The US Federal Reserve System (Fed) actually consists of twelve reserve banks spread across the country. Their owners are the banks operating in the respective area. The Reserve Banks finance themselves primarily from the income from bonds, with the remaining profits going to the US Treasury.

The US Federal Reserve, established by law in 1913, does not consider itself a "private" bank. She points out on her website that the twelve Reserve Banks are not for-profit banks. Above all, the Board of Governors, which is appointed by the President of the United States and confirmed by the Senate, is an agency of the US federal government. Decisions by the board and the Federal Open Market Committee, which is important for monetary policy, are made independently. Government agencies do not have to agree.

According to the “Neue Zürcher Zeitung”, 22 percent of the Swiss National Bank (SNB) is owned by private shareholders. 61 percent were held by the cantons, the rest by cantonal banks and other public corporations.

Conspiracy theories about the influence of the Jewish Rothschild banking family on important decisions made by politicians and business leaders are not new. They have been an integral part of European and international anti-Semitism, as represented by some artists and politicians, since the 19th century at the latest. In 1940 the inflammatory film "The Rothschilds", commissioned by the National Socialist government, picked up on allegations of greedy and cunning Jewish bankers.

In addition to the philanthropist George Soros, the name Rothschild is now at the top of the list of main enemies among supporters of the strongly anti-Semitic “QAnon” conspiracy theories. One of the rather curious and clearly refuted claims is an alleged "family tree" intended to prove that Adolf Hitler's grandfather was a Rothschild and that Angela Merkel, Hitler's granddaughter, also belongs to the Rothschild family.

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Left:

Facebook posting (Luxembourg): https://www.facebook.com/emmi.maus.9828/posts/369317881184502 (archived: https://archive.vn/955H2)

More detailed Facebook posting: https://www.facebook.com/atreju.yopi.35/posts/355817735709325 (archived: https://archive.vn/k2xKm)

The conversation on central bank history: https://theconversation.com/why-central-banks-with-shareholders-might-not-be-such-a-bad-idea-after-all-43574 (archived: http: // dpaq .de / Wqx3X)

Austrian National Bank: https://www.oenb.at/Ueber-Uns/Rechliche-Grundlagen.html

Bank Underground Blog: https://bankunderground.co.uk/2019/10/18/the-ownership-of-central-banks/ (archived: http://dpaq.de/dcC6N)

US Federal Reserve System: https://www.federalreserve.gov/faqs/about_14986.htm#:~:text=The%20Federal%20Reserve%20System%20is,directly%20accountable%20to%20the%20Congress

NZZ on Swiss National Bank: https://www.nzz.ch/wirtschaft/zentralbanken-wem-gehoeren-sie-ld.1523321 (archived: http://dpaq.de/faZgk)

Conspiracy theories on Rothschilds: https://www.usagold.com/cpmforum/who-owns-and-controls-the-federal-reserve/ (archived: http://dpaq.de/39ukn)

EU Commission on anti-Semitic conspiracy theories: https://ec.europa.eu/info/live-work-travel-eu/health/coronavirus-response/fighting-disinformation/identifying-conspiracy-theories_de#verschwrungstheorien-die-verbindungen-zum -anti-Semitism

Rothschild propaganda film: https://www.murnau-stiftung.de/movie/742

Family tree Hitler / Rothschild: https://archive.vn/VLgkj

dpa fact check on the family tree: https://dpa-factchecking.com/switzerland/200918-99-613318/

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Contact the dpa fact check team: [email protected]