Bank of England - who takes the profits?

[iceni tribe]

You ask that question to one thousand Britons, and I kid you not, all of them will say that it is owned by the Government. They would be wrong.

The Bank Of England was originally a private bank, which contracted to lend money to the British Government in a financial crisis. It was privately owned at its foundation and remained so until the post-war Labour government nationalised it in 1946.

So it is owned by the government?

No.

Here is how Wikipedia explains it.


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.

In other words, you and I are not allowed to know who the shareholders are who own the company which carries out Central Banking in the UK. Some people say that Mandelson's buddies, the Rothschilds are major shareholders. Also the Queen. But the information is secret. We are not allowed to know

more here
http://the-tap.blogspot.com/2010/02/who-owns-bank-of-england.html

now here is a interesting link ,if you go down to paragraph 4 it states that 25% of net profits goes to the treasury ...........soooo who gets the other 75% share .

http://www.legislation.gov.uk/ukpga/Geo6/9-10/27/section/1

if you fancy disappearing down this particular rabbit hole ,here's another link
http://www.legislation.gov.uk/ukpga/1998/11/contents

[andrewgreen]

What activities do they make a profit from and how much do they make or is this an official secret too?

[Lord Sidious]

What activities do they make a profit from and how much do they make or is this an official secret too?

The lend the currency to the government at interest.
Plus, they accept government bonds as payment for the currency.

[Mad Hatter]

What activities do they make a profit from and how much do they make or is this an official secret too?

The lend the currency to the government at interest.
Plus, they accept government bonds as payment for the currency.

If the 'bond'ed slave linkage is true then US treasury bonds must be quite appealing at the moment....

[conk]

What activities do they make a profit from and how much do they make or is this an official secret too?

The lend the currency to the government at interest.
Plus, they accept government bonds as payment for the currency.

If the 'bond'ed slave linkage is true then US treasury bonds must be quite appealing at the moment....I don't know about that. Much discussion about shorting the US.

[iceni tribe]

http://i753.photobucket.com/albums/xx171/naf09_2010/759px-Bank_of_England_Charter_sealing_1694.jpg

England's crushing defeat by France, the dominant naval power, in naval engagements culminating in the 1690 Battle of Beachy Head, became the catalyst to England rebuilding itself as a global power. England had no choice but to build a powerful navy if it was to regain global power. As there were no public funds available, in 1694 a private institution, the Bank of England, was set up to supply money to the King. £1.2m was raised in 12 days; half of this was used to rebuild the Navy.

As a side-effect, the huge industrial effort needed started to transform the economy, from iron works making nails to agriculture feeding the quadrupled strength of the Royal Navy. This helped the new United Kingdom – England and Scotland were formally united in 1707 – to become prosperous and powerful. Together with the power of the navy, this made Britain the dominant world power in the late eighteenth and early nineteenth centuries.[6]

The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, to the plan which had been proposed by William Paterson three years before, but had not been acted upon.[7] 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 of 1694.[8] Public finances were in so dire a condition at the time that the terms of the loan were that it was to be serviced at a rate of 8% per annum, and there was also a service charge of £4000 per annum for the management of the loan

http://en.wikipedia.org/wiki/Bank_of_England

so my understanding is this , five wealthy men all put in £250,000 each , and hay presto the central bank came into being , and money was issued with interest attached, to the goverment.
so what exactly happened in 1946, did the owners of the bank of england just give this huge money making scheme over to the goverment or did something else happen. :noidea:

[Lord Sidious]

The bank of england was a payoff for the backers of Cromwell and that dates back further, as you would probably know.

[Peacelovinman]

I recently asked my MP to provide me with information concerning Bank of England Nominees Ltd . Guess what? No answer bar an acknowledgement!

[Koyaanisqatsi]

Who profits? The Warburgs, the Rothschilds, Barons and Morgans.