P. " Morgan (April 17, 1837 – March 31, 1913) was an American financier, banker, philanthropist and art collector who dominated corporate finance and industrial consolidation during his time. Rothschild family. A house formerly belonging to the Viennese branch of the family (Schillersdorf Palace).
Schloss Hinterleiten, one of the many palaces built by the Austrian Rothschild dynasty. Donated to charity by the family in 1905. Beatrice de Rothschild's villa on the Côte d'Azur, France The Rothschild family /ˈrɒθs.tʃaɪld/, also known as the Rothschilds, is a family descending from Mayer Amschel Rothschild, a court Jew to the Landgraves of Hesse-Kassel, in the Free City of Frankfurt, who established his banking business in the 1760s. Unlike most previous court Jews, Rothschild managed to bequeath his wealth, and established an international banking dynasty through his five sons, that came even to surpass the most powerful families of the era such as the Barings and the Berenbergs. Fractional-reserve banking. Fractional-reserve banking is the practice whereby a bank holds reserves in an amount equal to only a portion of the amount of its customers' deposits to satisfy potential demands for withdrawals.
Reserves are held at the bank as currency, or as deposits reflected in the bank's accounts at the central bank. Because bank deposits are usually considered money in their own right, fractional-reserve banking permits the money supply to grow to a multiple (called the money multiplier) of the underlying reserves of base money originally created by the central bank. Central bank. The primary function of a central bank is to manage the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.
Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists. The chief executive of a central bank is normally known as the Governor, President or Chairman. Bank for International Settlements. The Bank for International Settlements (BIS) (in French, Banque des règlements internationaux (BRI)) is an international organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks.
It also provides banking services, but only to central banks and other international organizations. World Bank. The World Bank is a United Nations international financial institution that provides loans to developing countries for capital programs.
The World Bank is a component of the World Bank Group, and a member of the United Nations Development Group. Composition World Bank The World Bank is composed of two institutions: International Monetary Fund. The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries.
The IMF's stated goal was to assist in the reconstruction of the world's international payment system post–World War II. Countries contribute funds to a pool through a quota system from which countries with payment imbalances temporarily can borrow monies and other resources. As of the 14th General Review of Quotas in late 2010 the fund stood at SDR476.8bn, or about US$755.7bn at then-current exchange rates. Through this fund, and other activities such as surveillance of its members' economies and the demand for self-correcting policies, the IMF works to improve the economies of its member countries. Federal Reserve System. The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States.
It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system. The U.S. The Money Masters - How International Bankers Gained Control of America.