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Countries Where Bitcoin is Legal and not LegalThe peer-to-peer digital currency Bitcoin made its debut in 2009 and with it ushered in a new era of cryptocurrency. While tax authorities, enforcement agencies and regulators worldwide are still debating best practices, one pertinent question: is Bitcoin legal or illegal? The answer – it depends on the location and activity of the user.Bitcoins are not issued, endorsed, or regulated by any central bank. Instead, they are created through a computer-generated process known as mining. In addition to being a cryptocurrency unrelated to any government, Bitcoin is a peer-to-peer payment system since it does not exist in a physical form. As such, it offers a convenient way to conduct cross-border transactions with no exchange rate fees. It also allows users to remain anonymous.Consumers have greater ability to purchase goods and services with Bitcoin directly at online retailers, pull cash out of Bitcoin ATMs and use Bitcoin at some brick-and-mortar stores. The currency is being traded on exchanges, and virtual currency-related ventures and ICOs draw interest from across the investment spectrum. While Bitcoin appears at glance to be a well-established virtual currency system, there are still no uniform international laws that regulate Bitcoin.Countries that Say Yes to BitcoinBitcoin can be used anonymously to conduct transactions between any account holders, anywhere and anytime across the globe, which makes it attractive to criminals and terror organizations. They may use Bitcoin to buy or sell illegal goods like drugs or weapons. Most countries have not clearly determined the legality of Bitcoin, preferring instead to take a wait-and-see approach. Some countries have indirectly assented to the legal use of Bitcoin by enacting some regulatory oversight. However, Bitcoin is never legally acceptable as a substitute for a country’s legal tender.The United StatesThe United States has taken a generally positive stance toward Bitcoin, though several government agencies work to prevent or reduce Bitcoin use for illegal transactions. Prominent businesses like Dish Network (DISH), the Microsoft Store, sandwich retailer Subway and Bedding, Furniture, Electronics, Jewelry, Clothing & more (OSTK) welcome payment in Bitcoin. The digital currency has also made its way to the U.S. derivatives markets, which speaks about its increasingly legitimate presence.The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has been issuing guidance on Bitcoin since 2013. The Treasury has defined Bitcoin not as currency, but as a money services business (MSB). This places it under the Bank Secrecy Act which requires exchanges and payment processors to adhere to certain responsibilities like reporting, registration, and record keeping. In addition, Bitcoin is categorized as property for taxation purposes by the Internal Revenue Service (IRS).CanadaLike its southern neighbor the United States, Canada maintains a generally Bitcoin-friendly stance while also ensuring the cryptocurrency is not used for money laundering. Bitcoin is viewed as a commodity by the Canada Revenue Agency (CRA). This means that Bitcoin transactions are viewed as barter transactions, and the income generated is considered as business income. The taxation also depends whether the individual has a buying-selling business or is only concerned with investing.Canada considers Bitcoin exchanges to be money service businesses. This brings them under the purview of the anti-money laundering (AML) laws. Bitcoin exchanges need to register with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), report any suspicious transactions, abide by the compliance plans, and even keep certain records. In addition, some major Canadian banks have banned the use of their credit or debit cards for Bitcoin transactions.AustraliaAustralia considers Bitcoin a currency like any other and allows entities to trade, mine, or buy it.The European UnionThough the European Union (EU) has followed developments in cryptocurrency, it has not issued any official decision on legality, acceptance or regulation. In the absence of central guidance, individual EU countries have developed their own Bitcoin stances.In Finland, the Central Board of Taxes (CBT) has given Bitcoin a value-added tax exempt status by classifying it as a financial service. Bitcoin is treated as a commodity in Finland and not as a currency. The Federal Public Service Finance of Belgium has also made Bitcoin exempt from value added tax (VAT). In Cyprus, Bitcoin are not controlled or regulated either. The Financial Conduct Authority (FCA) in the United Kingdom (U.K.) has a pro-Bitcoin stance and wants the regulatory environment to be supportive of the digital currency. Bitcoin is under certain tax regulations in the U.K. The National Revenue Agency (NRA) of Bulgaria has also brought Bitcoin under its existing taw laws. Germany is open to Bitcoin; it is considered legal but taxed differently depending upon whether the authorities are dealing with exchanges, miners, enterprises or users.Ukraine - LegalThe use of bitcoins is not regulated in Ukraine. Mining is legal type of entrepreneurship.Belarus - LegalThe Decree On the Development of Digital Economy — the decree of Alexander Lukashenko, the President of the Republic of Belarus, which includes measures to liberalize the conditions for conducting business in the sphere of high technologies.The provisions of the decree "On the Development of Digital Economy" create of a legal basis for the circulation of digital currencies and tokens based on blockchain technology, so that resident companies of the High-Tech Park can provide the services of stock markets and exchange offices with cryptocurrencies and attract financing through the ICO. For legal entities, the Decree confers the rights to create and place their own tokens, carry out transactions through stock markets and exchange operators; to individuals the Decree gives the right to engage in mining, to own tokens, to acquire and change them for Belarusian rubles, foreign currency and electronic money, and to bequeath them. Up to 1 Jan In 2023, the Decree excludes revenue and profits from operations with tokens from the taxable base. In relation to individuals, the acquisition and sale of tokens is not considered entrepreneurial activity, and the tokens themselves and income from transactions with them are not subject to declaration. The peculiarity of the introduced regulation is that all operations will have to be carried out through the resident companies of the High Technology Park.In addition, the decree includes:Extension of the validity period of the special legal regime of the High-Tech Park until January 1, 2049, and expansion of the list of activities of resident companies. Under the new rules, developers of blockchain-based solutions, developers of machine learning systems based on artificial neural networks, companies from the medical and biotechnological industries, developers of unmanned vehicles, as well as software developers and publishers can become residents. The list of promising areas is unlimited and can be expanded by the decision of the High-Tech Park supervisory board.Preservation of existing benefits for resident companies in the High-Tech Park, including the cancellation of the profit tax (instead of which a contribution of 1% of the gross revenues proceeding to the administration of the park is applied), reduced to 9% of the personal income tax rate for employees, and the right to contribute to the Social Protection Fund according to the national average figures, and not the actual salaries.Exemption of foreign companies providing marketing, advertising, consulting and other services to the residents of the High-Tech Park from paying value-added tax, as well as paying income tax, which allows to promote IT products of Belarusian companies in foreign markets. To encourage investments, the Decree also exempts foreign companies from the tax on income from the alienation of shares, stakes in the authorized capital and shares in the property of residents of the High-Tech Park (under condition of continuous possession of at least 365 days).Introduction of individual English law institutions for residents of the High-Tech Park, which will make it possible to conclude option contracts, convertible loan agreements, non-competition agreements with employees, agreements with responsibility for enticing employees, irrevocable powers of attorney and other documents common in international practice. This measure is aimed at simplifying the structuring of transactions with foreign capital.Simplification of the regime of currency transactions for residents of the High-Tech Park, including the introduction of a notification procedure for currency transactions, the cancellation of the mandatory written form of foreign trade transactions, the introduction of confirmation of the conducted operations by primary documents drawn up unilaterally. Also, the decree removes restrictions on resident companies for transactions with electronic money and allows opening accounts in foreign banks and credit and financial organizations without obtaining permission from the National Bank of the Republic of Belarus.Simplification of the procedure for recruiting qualified foreign specialists by resident companies of the High-Tech Park, including the abolition of the recruitment permit, the simplified procedure for obtaining a work permit, and the visa-free regime for the founders and employees of resident companies with a term of continuous stay of up to 180 days.Japan - LegalOn 7 March 2014, the Japanese government, in response to a series of questions asked in the National Diet, made a cabinet decision on the legal treatment of bitcoins in the form of answers to the questions. The decision did not see bitcoin as currency nor bond under the current Banking Act and Financial Instruments and Exchange Law, prohibiting banks and securities companies from dealing in bitcoins. The decision also acknowledges that there are no laws to unconditionally prohibit individuals or legal entities from receiving bitcoins in exchange for goods or services. Taxes may be applicable to bitcoins.Do you think of how to make fast profits with your cryptos..? It’s so possible atcenturycoingroup.us because at Century Coin Group USA , you will be able to make double of your bitcoin investment within just seven days..South Korea it is LegalMinors and all foreigners are prohibited from trading cryptocurrencies. Adult South Koreans may trade on registered exchanges using real name accounts at a bank where the exchange also has an account. Both the bank and the exchange are responsible for verifying the customer's identity and enforcing other anti-money-laundering provisions.As of April 2017, cryptocurrency exchange businesses operating in Japan have been regulated by the Payment Services Act. Cryptocurrency exchange businesses have to be registered, keep records, take security measures, and take measures to protect customers. Financial Services Agency (FSA) was established in 2014 for the purpose of establishing a registration platform for cryptocurrency exchange businesses. the law on cryptocurrency transactions must comply with the anti-money laundering law; and measures to protect users investors. The Payment Services Act defines “cryptocurrency” as a property value. The Act also states that cryptocurrency is limited to property values that are stored electronically on electronic devices, not a legal tender.Taiwan - Legal /Banking banFinancial institutions are not allowed to facilitate bitcoin transactions. Regulators have warned the public that bitcoin does not have legal protection, "as the currency is not issued by any monetary authority and is therefore not entitled to legal claims or guarantee of conversion".Financial institutions have been warned by regulators that necessary regulatory actions may be taken if they use bitcoin. TaiwanOn 31 December 2013, Financial Supervisory Commission (Republic of China) (FSC) and CBC issued a joint statement which warns against the use of bitcoins. It is stated that bitcoins remains highly volatile, highly speculative, and is not entitled to legal claims or guarantee of conversion.On 5 January 2014, FSC chairman Tseng Ming-chung stated that FSC will not allow the installation of bitcoin ATM in Taiwan because bitcoin is not a currency and it should not be accepted by individuals and banks as payment.South Africa - LegalIn December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had ‘no legal status or regulatory framework’. The South African Revenue Service classified bitcoin as an intangible asset.Namibia-LegalIn September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled[20] wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.Zimbabwe - LegalThe Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.Nigeria - LegalAs of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria.However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central bank’s recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We don’t own it".Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies – blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. ‘Dipo Fatokun.Israel- Yes- LegalAs of 2017, the Israel Tax Authorities issued a statement saying that bitcoin and other cryptocurrencies would not fall under the legal definition of currency, and neither of that of a financial security, but of a taxable asset.[55] Each time a bitcoin is sold, the seller would have to pay a capital gains tax of 25%. Miners, traders of bitcoins would be treated as businesses and would have to pay corporate income tax as well as charge a 17% VATSaudi Arabia - Legal - Banking banFinancial institutions are warned from using bitcoin. The Saudi Arabian Monetary Authority (SAMA) has warned from using bitcoin as it is high risk and its dealers will not be guaranteed any protection or rights.Jordan-Legal- Banking banThe government of Jordan has issued a warning discouraging the use of bitcoin and other similar systems.The Central Bank of Jordan prohibits banks, currency exchanges, financial companies, and payment service companies from dealing in bitcoins or other digital currencies. While it warned the public of risks of bitcoins, and that they are not legal tender, bitcoins are still accepted by small businesses and merchants.Lebanon-LegalThe government of Lebanon has issued a warning discouraging the use of bitcoin and other similar systems.Turkey-LegalBitcoin is not regulated as it is not considered to be electronic money according to the law.Iran-Legal-Banking banFinancial institutions are not allowed by central bank to facilitate bitcoin transactions. In April 2018, Central Bank of the Islamic Republic of Iran issued a statement banning the country’s banks and financial institutions from dealing with cryptocurrencies, citing money laundering and terrorism financing risks.Bangladesh - Legal/Banking banFinancial institutions are not allowed to facilitate bitcoin transactions. In September 2014, Bangladesh Bank said that "anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws".India -Legal /Banking banFinance minister Arun Jaitley, in his budget speech on 1 February 2018, stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems."The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system," Jaitley said.In early 2018 India's central bank, the Reserve Bank of India (RBI) announced a ban on the sale or purchase of cryptocurrency for entities regulated by RBI.In 2019, a petition has been filed[by whom?] with the Supreme Court of India challenging the legality of cryptocurrencies and seeking a direction or order restraining their transaction.Countries That Say No to BitcoinWhile Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current monetary systems and links to illicit activities like drug trafficking and money laundering. Some nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and use.List of some of the Countries Bitcoin-Cryptos are illegalChina - IllegalBitcoin is essentially banned in China. All banks and other financial institutions like payment processors are prohibited from transacting or dealing in Bitcoin. Cryptocurrency exchanges are banned. The government has cracked down on miners. (Related reading How Bitcoin Can Change The World)Russia - RegulatedBitcoin is not regulated in Russia, though its use as payment for goods or services is illegal. As of November 2016 declared, bitcoins are "not illegal" according to the Federal Tax Service of Russia.[50] Deputy Finance Minister of the Russian Federation Alexei Moiseev said in September 2017 it's "probably illegal" to accept cryptocurrencies payments.[51] However bitcoin market sites are blocked and in court decisions stated that bitcoin is a currency surrogate which is outlawed on the territory of Russian Federation.Vietnam - IllegalVietnam’s government and its state bank maintain that Bitcoin is a not a legitimate payment method, though it is not regulated as an investment.Bolivia, Columbia and Ecuador not legalEl Banco Central de Bolivia has banned the use of Bitcoin and other cryptocurrencies. Columbia does not allow Bitcoin use or investment. Bitcoin and other cryptocurrencies were banned in Ecuador by a majority vote in the national assembly.Algeria it is illegalAccording to the "Journal Officiel" (28 December 2017)The purchase, sale, use, and holding of so-called virtual currency is prohibited. Virtual currency is that used by internet users via the web. It is characterized by the absence of physical support such as coins, notes, payments by cheque or credit card. Any breach of this provision is punishable in accordance with the laws and regulations in force.Egypt it is illegal"Egypt’s Dar al-Ifta, the primary Islamic legislator in Egypt, has issued a religious decree classifying commercial transactions in bitcoin as haram (prohibited under Islamic law).Morocco it is illegalOn 20 November 2017 the exchange office issued a public statement in which it declared, "The Office des Changes wishes to inform the general public that the transactions via virtual currencies constitute an infringement of the exchange regulations, liable to penalties and fines provided for by [existing laws] in force."The following day, the monetary authorities also reacted in a statement issued jointly by the Ministry of Economy and Finance, Bank Al-Maghrib and the Moroccan Capital Market Authority (AMMC), warning against risks associated with bitcoin, which may be used "for illicit or criminal purposes, including money laundering and terrorist financing"On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset". He also warned of its dangers and called for a framework to be put in place for consumer protectionUnited Arab Emirates - Contradictory informationAbsolute ban. According to the Library of Congress "Under article D.7.3 of the Regulatory Framework for Stored Values and an Electronic Payment System, issued by the Central Bank of the United Arab Emirates in January 2017, all transactions in “virtual currencies” (encompassing cryptocurrencies in Arabic) are prohibited."Nevertheless, on 13 February 2018 Dubai gold trader Regal RA DMCC became the first company in the Middle East to get a license to trade cryptocurrencies, the Dubai Multi Commodities Centre said.[53] DMCC's website emphasizes the "cold storage" of cryptocurrencies and states "DMCC’s Crypto-commodities license is for Proprietary Trading in Crypto-commodities only. No initial coin offerings are permitted and no establishment of an exchange is permitted under this license."Nepal it is IllegalAbsolute ban. On 13 August 2017 Nepal Rastra Bank declared bitcoin as illegal.Pakistan it is IllegalAs of 7 April 2018, State Bank of Pakistan [SBP] has announced that bitcoin and other virtual currencies/tokens/ coins are banned in Pakistan. This news was followed right after India's restriction of converting bitcoin and cryptocurrencies into fiat currency. For organizations and institutions it is banned by State Bank of Pakistan. Bank will not get involved if there is any dispute. They will not facilitate any transaction for it.The bank has issued an official notice on its website and has also posted the news on its official Twitter account.The Bottom LineAlthough Bitcoin is now almost 10 years old, many countries still do not have explicit systems that restrict, regulate or ban the cryptocurrency. The decentralized and anonymous nature of Bitcoin has challenged many governments on how to allow legal use while preventing criminal transactions. Many countries are still analyzing ways to regulate the the cryptocurrency. Overall, Bitcoin remains in a legal gray area for much of the world.Thank you!

First, a shout-out to Karl C Amlie's recommendation of The Dao of Capital, and cheers for more practitioners of the Austrian school of economic thought.I agree that QE leads to inflation under normal circumstances, all else equal.However, we are not in normal times. QE induced growth is different than organic growth under fractional-reserve banking, and the QE-led recovery bears signatures of economic distortion, such as asset price inflation.I believe the following factors contribute toward today's low inflation:Severe household deleveraging post 2008 offset QE's reflationary effectsStructural changes in the labor market, such as job polarization weighing on wage growth / wage inflationForeign economic shocks in Europe and ChinaRegulatory changes that constrain bank lendingHousehold deleveraging vs. FED's balance sheet expansionThe FED's balance sheet expansion (red) offset the private sector deleveraging, but private sector borrowing has remained low.Below is World Bank's measure of domestic credit to private sector (% of GDP). It is slightly more optimistic, but the post 08 damage is still evident.Structural changes in the labor market (job polarization and the disappearing middle class)(Source: San Francisco Fed)Businesses are relying more on productivity enhancing tools instead of hiring lower skill workers. More jobs are being replaced by high-skilled programmers creating scripts and automation routines. Disruptions by new technologies also threaten existing business models. The middle class medium to low-skill office jobs are rapidly disappearing, as in job polarization.Federal Reserve Bank of St. Louis has a good research report on this phenomenon: Job Polarization Leaves Middle-Skilled Workers Out in the ColdAustrian economists would argue that workers would re-tool and re-train to adapt to new demands, but I believe that process will take time, and some workers would end up leaving the workforce before completing the re-tooling process. In the mean time, stagnant wages are pushing down inflation.Foreign growth shocksWeaker than expected European economic growth during 2014 and recent economic slowdown in China are dis-inflationary, and the effects are being transmitted into the U.S. economy via trade channels.Using Import Prices as an example, declining import prices from China will weigh on U.S. inflation measures, along with effects from a stronger dollar.Regulatory constrainsBelow is a chart showing the growth of FED's balance sheet (QE) and the deposit institution's excess reserve, a sign that the banks are not lending out the QE-created new reserves. There are two likely factors: weak credit demand, and financial regulation post 2008 making banks less willing to lend

It’s my understanding that no one can adequately answer this question since ownership of equity isn’t public information. This is also a very, very complex question. It’s highly unlikely that the Rothschild’s own equity in any central banks and we’ll discuss this further below. The Rothschild’s divested themselves of public commercial banking in the mid-1990s and refocused their attention on providing private banking services to extremely wealthy clients. They own their own banks and likely have little connection to the central banking system. Understanding how the system is set up is helpful in this regard.The central banking system has three important features: (1) a central governing board—the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.The Board of Governors in Washington, D.C., is an agency of the federal government. The Board—appointed by the President and confirmed by the Senate—provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. In addition, though the Congress sets the goals for monetary policy, decisions of the Board--and the Fed's monetary policy-setting body, the Federal Open Market Committe—about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government.Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund.The shocking realization that the Federal Reserve Bank is privately owned by its member banks is one of the defining moments in any truthseeker's life.From the Federal Reserve:"The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations-possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year."So while the Fed tries to downplay private ownership, it does not deny it. Its stock cannot be traded, but this is not a limitation; it's a sure way of keeping outsiders out. After all, it's a club, and we're not in it. Furthermore, a dividend of 6% per year is not bad.On the other hand, after paying its shareholders, the Federal Reserve returns what remains to the US Government, so it's not entirely fair to say that the Fed is printing money and then has the State pay interest on it. It refunded $89 billion in interest in 2012 after taking its 6% dividend cut.Central Banks were created by the banks for the simple reason that Fractional Reserve Banking is incredibly unstable. There is an incentive for the banksters to loan out more than they can cover with fractional reserves, leading to all sorts of busts. This was hurting the Money Power's control over the money supplies of the world and central banks were created as 'lenders of the last resort.' In case of a panic, a Central Bank could keep busted banks afloat, maintaining sufficient confidence in the system.Furthermore, they were useful tools for Sovereign borrowing. The basic contract between national governments and central banks was that the central bank would always provide the state with all the money it would ever need, in return for guaranteed interest payments through taxation.Also important was the monopoly on national currency. In earlier days, both in Europe and the US, free banking and local Sovereign money created a diverse monetary environment, more difficult for the Money Power to control. By 'legal tender' laws their units became the sole accepted way of paying taxes, giving the banking units a massive advantage in the market place. These were the early steps in further and further monetary centralization in ever fewer units, with World Currency as the final goal.Finally Central Banks 'regulate' banks. This is a simple trick: make regulation incredibly complex and expensive, and it becomes impossible for the vast majority of market players to comply. It's the same deal as the Pharma Mafia has with the FDA: new drugs are so incredibly expensive to test that it is impossible for low cost natural cures to go through the process. Exit competition and another excuse to keep prices artificially high for the cartel.It matters not whether money is managed privately or publicly. What matters is whether we have stable and cheap (interest-free) money. If a private interest-free mutual credit facility can provide it, grand. If Government can do it, fine. A mixture of both is probably the way forward.Central banks are a mixture of both: they have public and private aspects. But the bottom line is that central banks do the bidding of the Money Power—the wealthiest of the wealthy.The central banks have a supreme central bank, the bank for International Settlements (BIS) in Basel. It was founded by Rothschild agents Charles Dawes and Owen Young alongside with Hjalmar Schacht of the Deutsche Reichsbank. About this system Bill Clinton´s mentor, member of the Council on Foreign Relations, Professor Carroll Quigley wrote in his book "Tragedy and Hope" in 1975 , which was based on years of studies in the Archives of that Council:"The powers of financial capitalism had (a) far reaching (plan), 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.The apex of the system was to be the Bank For International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations.Each central bank sought to dominate its government by its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the Country, and to influence cooperative politicians by subsequent economic rewards in the business world."In the final analysis it seems unlikely that the Rothschild’s own central bank equity, although they may. What’s more important is influence and we certainly have no idea what level of influence, if any, the family may have.