Does 'Owning' A Directory Or File Give You And Special Permissions?

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http://askubuntu.com – I've read a little about chmod and have a high-level understanding of file permissions. But I'm a little confused about the concept of an 'owner'. If my user account is the 'Owner' of a directory but it has no permissions (chmod 0000) does my user have any more ability to do anything than another random user on the system? Assuming neither user is a super user? (HowTos)