[finance] snippets here and there
Foreign connections
# During the Senate Hearings on Paul Warburg before the Senate Banking and Currency Committee, August 1, 1914, Senator Bristow asked, "How many of these partners (of Kuhn, Loeb Company) are American citizens?"
Warburg: "They are all American citizens except Mr. Kahn. He is a British subject."
Bristow: "He was at one time a candidate for Parliament, was he not?"
Warburg: "There was talk about it, it had been suggested and he had it in his mind."
Paul Warburg also stated to the Committee:
"I went to England, where I stayed for two years, first in the banking and discount firm of Samuel Montague & Company. After that I went to France, where I stayed in a French bank."
Chairman: "What French bank was that?"
Warburg: "It is the Russian bank for foreign trade which has an agency in Paris."
# Paul Warburg continued to address bankers’ groups about the monetary policies they were expected to follow. On October 22, 1915, he addressed the Twin City Bankers Club, St. Paul, Minnesota during which speech he stated:
"With Europe’s foremost powers limited to their own field, with the United States turned into a creditor nation for all the world, the boundaries of the field that lies open for us are determined only by our power of safe expansion. The scope of our banking future will ultimately be limited by the amount of gold that we can muster as the foundation of our banking and credit structure."
# Ferdinand Lundberg, in America’s Sixty Families, 1937, stated:
"In practice, the Federal Reserve Bank of New York became the fountainhead of the system of twelve regional banks, for New York was the money market of the nation. The other eleven banks were so many expensive mausoleums erected to salve the local pride and quell the Jacksonian fears of the hinterland."
# Eustace Mullins, in Mullins On The Federal Reserve, Kasper and Horton, New York, 1952, stated:
"The shareholders of the banks which owned the stock of the Federal Reserve Bank of New York are the Rothschilds, of Europe, Lazard Freres (Eugene Meyer), Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests. These interests have merged and consolidated in recent years, so that the control is much more concentrated.
National Bank of Commerce is now Morgan Guarantee Trust Company, Lehman Brothers has merged with Kuhn, Loeb Company, First National Bank has merged with the National City Bank, and in the other eleven Federal Reserve Districts, these same shareholders indirectly own or control shares in those banks, with the other shares owned by the leading families in those areas who own or control the principal industries in these regions."
This is now years old but the interconnections are the point here, not whether they still exist.
# Daniel Davison, head of London’s Morgan Grenfell, said [McRae and Cairncross, Capital City, Eyre Methuen, London, 1963, p. 1]:
"The American banks have brought the necessary money, customers, capital and skills which have established London in its present preeminence . . . . only the American banks have a lender of last resort. The Federal Reserve Board of the United States can, and does, create dollars when necessary. Without the Americans, the big dollar deals cannot be put together. Without them, London would not be credible as an international financial centre."
# Although Astor’s capital was reputed to come from his fur trading, a number of sources indicate that he also represented foreign interests. Lyndon H. LaRouche, Jr., in Dope, Inc., The New Benjamin Franklin House Publishing Company, N.Y. 1978, stated that Astor, in exchange for providing intelligence to the British during the years before and after the Revolutionary War, and for inciting Indians to attack settlers along the frontier, received a percentage of the British opium trade with China. It was the income from this concession which provided the basis for the Astor fortune.
# The House Stabilization Hearings of 1928 revealed that the Governors of the Federal Reserve System had been holding conferences with heads of European central banks with a view to returning to the gold standard:
Governor Adolph Miller: "I think we are very close to the point where any further solicitude on our part for the monetary concerns of Europe can be altered. The Federal Reserve Board last summer, 1927, set out by a policy of open market purchases, followed in course by reduction on the discount rate at the Reserve Banks, to ease the credit situation and to cheapen the cost of money. The official reasons for that departure in credit policy were that it would help to stabilize international exchange and stimulate the exportation of gold."
The nature of money
# Before the Fed, trade acceptances were a rare thing, most of America preferring the open book system, allowing a discount for cash. In a nutshell, under the latter system, a debt is a liability. Under the former, it is an asset to be bought and sold. Open book was more humane and more understandable to the common man but trade acceptances were more streamlined and lucrative for business.
# On September 30, 1941, before the House Committee on Banking and Currency, Governor Eccles was asked by Representative Patman:
"How did you get the money to buy those two billion dollars worth of Government securities in 1933?
Eccles: We created it.
Mr. Patman: Out of what?
Eccles: Out of the right to issue credit money.
Mr. Patman: And there is nothing behind it, is there, except our Government’s credit?
Eccles: That is what our money system is. If there were no debts in our money system, there wouldn’t be any money."
# At the House Hearing of 1947, Mr. Kolburn asked Mr. Eccles:
"What do you mean by monetization of the public debt?
Eccles: I mean the bank creating money by the purchase of Government securities. All is created by debt--either private or public debt.
Fletcher: Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?
Eccles: Never. Not in your lifetime or mine."
# In 1951, the Federal Reserve Bank of New York published a pamphlet, "A Day’s Work at the Federal Reserve Bank of New York." On page 22, it states:
"There is still another and more important element of public interest in the operation of banks besides the safekeeping of money; banks can ‘create’ money. One of the most important factors to remember in this connection is that the supply of money affects the general level of prices--thecost of living. The Cost of Living Index and money supply are parallel."
# At the House Banking and Currency Committee Hearings on June 6, 1960, Congressman Wright Patman, Chairman, questioned Carl E. Allen, President of the Federal Reserve Bank of Chicago. (p. 4):
Patman: "Now Mr. Allen, when the Federal Reserve Open Market Committee buys a million dollar bond you create the money on the credit of the Nation to pay for that bond, don’t you?
Allen: That is correct.
Patman: And the credit of the Nation is represented by Federal Reserve Notes in that case, isn’t it? If the banks want the actual money, you give Federal Reserve notes in payment, don’t you?
Allen: That could be done, but nobody wants the Federal Reserve notes.
Patman: Nobody wants them, because the banks would rather have the credit as reserves."
J.P.Morgan
# My question on this next paragraph is who or what gave Morgan the right:
On January 6, 1914, J.P. Morgan met with the Organizing Committee of the Federal Reserve in New York. He informed them that there should not be more than seven regional districts in the new system. This committee was to select the locations of the "decentralized" reserve banks. They were empowered to select from eight to twelve reserve banks, although J.P. Morgan had testified he thought that not more than four should be selected.
# John Moody, "The Seven Men", McClure’s Magazine, August, 1911, p. 418 stated:
"Seven men in Wall Street now control a great share of the fundamental industry and resources of the United States. Three of the seven men, J.P. Morgan, James J. Hill, and George F. Baker, head of the First National Bank of New York belong to the so-called Morgan group; four of them, John D. and William Rockefeller, James Stillman, head of the National City Bank, and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Company, to the so-called Standard Oil City Bank group ... the central machine of capital extends its control over the United States ... The process is not only economically logical; it is now practically automatic."
# The ten largest bank holding companies in the United States are subject to these banking houses, all of which have branches in London. They are J.P. Morgan Company, Brown Brothers Harriman, Warburg, Kuhn Loeb and J. Henry Schroder.
J.P. Morgan Company began as George Peabody and Company. George Peabody (1795-1869), began business in Georgetown, D.C. in 1814 as Peabody, Riggs and Company, dealing in wholesale dry goods, and in operating the Georgetown Slave Market. In 1815, to be closer to their source of supply, they moved to Baltimore, where they operated as Peabody and Riggs, from 1815 to 1835. Peabody in 1835 established the firm of George Peabody and Company in London.
# Eustace Mullins, Mullins On The Federal Reserve, Kasper and Horton, New York, 1952, wrote:
"Baron Nathan Mayer Rothschild met Peabody and offered that he run certain 'dinners' for elements of society. Peabody accepted the offer and soon became known as the most popular host in London. His annual Fourth of July dinner, celebrating American Independence, became extremely popular with the English aristocracy."
# John Moody noted, in The Masters of Capital, page 27:
"The Rothschilds were content to remain a close ally of Morgan... as far as the American field was concerned."
# The reason that the European Rothschilds preferred to operate anonymously in the United States behind the facade of J.P. Morgan and Company is explained by George Wheeler, Pierpont Morgan and Friends, the Anatomy of a Myth, Prentice Hall, N.J. 1973 page 17:
"But there were steps being taken even now to bring him out of the financial backwaters--and they were not being taken by Pierpont Morgan himself. The first suggestion of his name for a role in the recharging of the reserve originated with the London branch of the House of Rothschild, Belmont’s employers."
# Another Baltimore firm established in Liverpool were the Brown Brothers. Alexander Brown came to Baltimore in 1801, and established what is now known as the oldest banking house in the United States, still operating as Brown Brothers Harriman of New York; Brown, Shipley and Company of England; and Alex Brown and Son of Baltimore.
# Sir Montagu Norman, Governor of the Bank of England for many years, was a partner of Brown, Shipley and Company. Sir Montagu Norman was organizer of "informal talks" between heads of central banks in 1927, prior to the Great Stockmarket Crash of 1929. In Current Biography, 1940, he said:
"There is an informal understanding that a director of Brown, Shipley should be on the Board of the Bank of England, and Norman was elected to it in 1907."
# Mullins [op.cit.] states:
"Although the London house of Junius S. Morgan and Company continued to be the dominant branch of the Morgan enterprises, with the death of the senior Morgan in 1890 in a carriage accident on the Riviera, John Pierpont Morgan became the head of the firm.
After operating as the American representative of the London firm from 1864-1871 as Dabney Morgan Company, Morgan took on a new partner in 1871, Anthony Drexel of Philadelphia and operated as Drexel Morgan and Company until 1895. Drexel died in that year, and Morgan changed the name of the American branch to J.P. Morgan and Company."
# William Guy Carr, in Pawns In The Game, privately printed, 1956, pg. 60 stated that:
"In 1899, J.P. Morgan and Drexel went to England to attend the International Bankers Convention. When they returned, J.P. Morgan had been appointed head representative of the Rothschild interests in the United States. As the result of the London Conference, J.P. Morgan and Company of New York, Drexel and Company of Philadelphia, Grenfell and Company of London, and Morgan Harjes Cie of Paris, M.M. Warburg Company of Germany and America, and the House of Rothschild were all affiliated."
# La Rouche [op.cit.], stated that on February 5, 1891, a secret association known as the Round Table Group was formed in London by Cecil Rhodes, his banker, Lord Rothschild, the Rothschild in-law, Lord Rosebery, and Lord Curzon. He states that in the United States the Round Table was represented by the Morgan group.
Dr. Carrol Quigley, Tragedy and Hope, Macmillan Co., N.Y. refers to this group as "The British-American Secret Society", stating that:
"The chief backbone of this organization grew up along the already existing financial cooperation running from the Morgan Bank in New York to a group of international financiers in London led by Lazard Brothers (in 1901)."
Conclusion
The obvious question is: "So what?" Right, there is a London, European and American connection. Right, the Fed is a money making machine in the hands of private bankers. Right, the power over coinage is out of the hands of Congress and therefore the people. And what? Do they care?
After all, during the "Money Trust" hearings in 1912, under the leadership of Congressman Arsene Pujo of Louisiana, the Pujo subcommittee of the House Banking and Currency Committee asked banker after banker if he was a banker.
The response was: "Yes, I am indeed a banker."
What did that prove? The answer is: "Nothing much." What is of far greater concern is the role of the NYCH, the European gold transfers, the Fed's activities and the 1927 meeting of central banks which was followed by the Wall Street crash.
Of vastly more interest was the extra-curricular activities of bankers at leisure, e.g. the 'stag parties' on Jeckyll Island or what 'hunting' required regular members to be asked to stay away. This is interesting in the light of Bohemian Grove.
While Barings connections with the opium trade and slavery and Rothschilds' connection with the Nazis are interesting in themselves, of more interest is why the Rothschilds are linked with the following houses: Astor, Bundy, Collins, Dupont, Freeman, Kennedy, Leigh, Onassis, Rockefeller, Rothschild, Russell, Van Dine and the Merovingians [?], in a separate and yet interwoven context.
You can throw anything into this discussion, for example, Stanley Baldwin's comment on parliament, [J.M.Keynes, Economic Consequences of the Peace, 1919]:
"They are a lot of hard faced men who look as if they had done very well out of the war."
Into this, one can drop Churchill's "now at last this band of extraordinary personalities from the underworld of the great cities of Europe and America" line.
When one gets right into the words spoken and written by people close to the source of power, there is a common thread to it. It's the freewheeling manner with huge sums, abject disregard for due process, complete disregard for consequences on the little people and elements of sheer madness behind the assumptions. There is no country, no humanity to it, only profit. There's ample evidence of it in Philip Dru, Colonel House's fictional hero [Col. Edward M. House in Philip Dru, Administrator, B. W. Heubsch, New York, 1912, page 148]:
"They recognized the fact that Dru dominated the situation and that a master mind had at last risen in the Republic." He now assumed the title of General. "General Dru announced his purpose of assuming the powers of a dictator . . . they were assured that he was free from any personal ambition . . . he proclaimed himself ‘Administrator of the Republic.’"
This last was written by a man who went on to advise Woodrow Wilson on behalf of the finance. This is the thing this blogger is so down on - the megalomaniacal insanity of the powerful, the closer they get to the source of power. In Agatha Christie's NorM, Inspector Grant concludes:
"It appeals to something in man, the desire or lust for power. In every land it has been the same - the cult of Lucifer. Lucifer, Son of the Morning - pride and a desire for personal glory."
This is not inconsistent with facilitated financial panics, the slave trade, the drug trade, tolerance of child porn, the enabling of wars and the progressive impoverishment and indebtedness of the people of the various western nations by means of the control of credit and pricing. It explains the choice of a 'humanless' system of acceptances over open book accessibility. It explains the death of the bank manager/customer relationship.
The "money is a commodity" line of J.P.Morgan rings hollow in this context. If only we had an Old Hickory who would address the finance directly:
"You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!"
# During the Senate Hearings on Paul Warburg before the Senate Banking and Currency Committee, August 1, 1914, Senator Bristow asked, "How many of these partners (of Kuhn, Loeb Company) are American citizens?"
Warburg: "They are all American citizens except Mr. Kahn. He is a British subject."
Bristow: "He was at one time a candidate for Parliament, was he not?"
Warburg: "There was talk about it, it had been suggested and he had it in his mind."
Paul Warburg also stated to the Committee:
"I went to England, where I stayed for two years, first in the banking and discount firm of Samuel Montague & Company. After that I went to France, where I stayed in a French bank."
Chairman: "What French bank was that?"
Warburg: "It is the Russian bank for foreign trade which has an agency in Paris."
# Paul Warburg continued to address bankers’ groups about the monetary policies they were expected to follow. On October 22, 1915, he addressed the Twin City Bankers Club, St. Paul, Minnesota during which speech he stated:
"With Europe’s foremost powers limited to their own field, with the United States turned into a creditor nation for all the world, the boundaries of the field that lies open for us are determined only by our power of safe expansion. The scope of our banking future will ultimately be limited by the amount of gold that we can muster as the foundation of our banking and credit structure."
# Ferdinand Lundberg, in America’s Sixty Families, 1937, stated:
"In practice, the Federal Reserve Bank of New York became the fountainhead of the system of twelve regional banks, for New York was the money market of the nation. The other eleven banks were so many expensive mausoleums erected to salve the local pride and quell the Jacksonian fears of the hinterland."
# Eustace Mullins, in Mullins On The Federal Reserve, Kasper and Horton, New York, 1952, stated:
"The shareholders of the banks which owned the stock of the Federal Reserve Bank of New York are the Rothschilds, of Europe, Lazard Freres (Eugene Meyer), Kuhn Loeb Company, Warburg Company, Lehman Brothers, Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests. These interests have merged and consolidated in recent years, so that the control is much more concentrated.
National Bank of Commerce is now Morgan Guarantee Trust Company, Lehman Brothers has merged with Kuhn, Loeb Company, First National Bank has merged with the National City Bank, and in the other eleven Federal Reserve Districts, these same shareholders indirectly own or control shares in those banks, with the other shares owned by the leading families in those areas who own or control the principal industries in these regions."
This is now years old but the interconnections are the point here, not whether they still exist.
# Daniel Davison, head of London’s Morgan Grenfell, said [McRae and Cairncross, Capital City, Eyre Methuen, London, 1963, p. 1]:
"The American banks have brought the necessary money, customers, capital and skills which have established London in its present preeminence . . . . only the American banks have a lender of last resort. The Federal Reserve Board of the United States can, and does, create dollars when necessary. Without the Americans, the big dollar deals cannot be put together. Without them, London would not be credible as an international financial centre."
# Although Astor’s capital was reputed to come from his fur trading, a number of sources indicate that he also represented foreign interests. Lyndon H. LaRouche, Jr., in Dope, Inc., The New Benjamin Franklin House Publishing Company, N.Y. 1978, stated that Astor, in exchange for providing intelligence to the British during the years before and after the Revolutionary War, and for inciting Indians to attack settlers along the frontier, received a percentage of the British opium trade with China. It was the income from this concession which provided the basis for the Astor fortune.
# The House Stabilization Hearings of 1928 revealed that the Governors of the Federal Reserve System had been holding conferences with heads of European central banks with a view to returning to the gold standard:
Governor Adolph Miller: "I think we are very close to the point where any further solicitude on our part for the monetary concerns of Europe can be altered. The Federal Reserve Board last summer, 1927, set out by a policy of open market purchases, followed in course by reduction on the discount rate at the Reserve Banks, to ease the credit situation and to cheapen the cost of money. The official reasons for that departure in credit policy were that it would help to stabilize international exchange and stimulate the exportation of gold."
The nature of money
# Before the Fed, trade acceptances were a rare thing, most of America preferring the open book system, allowing a discount for cash. In a nutshell, under the latter system, a debt is a liability. Under the former, it is an asset to be bought and sold. Open book was more humane and more understandable to the common man but trade acceptances were more streamlined and lucrative for business.
# On September 30, 1941, before the House Committee on Banking and Currency, Governor Eccles was asked by Representative Patman:
"How did you get the money to buy those two billion dollars worth of Government securities in 1933?
Eccles: We created it.
Mr. Patman: Out of what?
Eccles: Out of the right to issue credit money.
Mr. Patman: And there is nothing behind it, is there, except our Government’s credit?
Eccles: That is what our money system is. If there were no debts in our money system, there wouldn’t be any money."
# At the House Hearing of 1947, Mr. Kolburn asked Mr. Eccles:
"What do you mean by monetization of the public debt?
Eccles: I mean the bank creating money by the purchase of Government securities. All is created by debt--either private or public debt.
Fletcher: Chairman Eccles, when do you think there is a possibility of returning to a free and open market, instead of this pegged and artificially controlled financial market we now have?
Eccles: Never. Not in your lifetime or mine."
# In 1951, the Federal Reserve Bank of New York published a pamphlet, "A Day’s Work at the Federal Reserve Bank of New York." On page 22, it states:
"There is still another and more important element of public interest in the operation of banks besides the safekeeping of money; banks can ‘create’ money. One of the most important factors to remember in this connection is that the supply of money affects the general level of prices--thecost of living. The Cost of Living Index and money supply are parallel."
# At the House Banking and Currency Committee Hearings on June 6, 1960, Congressman Wright Patman, Chairman, questioned Carl E. Allen, President of the Federal Reserve Bank of Chicago. (p. 4):
Patman: "Now Mr. Allen, when the Federal Reserve Open Market Committee buys a million dollar bond you create the money on the credit of the Nation to pay for that bond, don’t you?
Allen: That is correct.
Patman: And the credit of the Nation is represented by Federal Reserve Notes in that case, isn’t it? If the banks want the actual money, you give Federal Reserve notes in payment, don’t you?
Allen: That could be done, but nobody wants the Federal Reserve notes.
Patman: Nobody wants them, because the banks would rather have the credit as reserves."
J.P.Morgan
# My question on this next paragraph is who or what gave Morgan the right:
On January 6, 1914, J.P. Morgan met with the Organizing Committee of the Federal Reserve in New York. He informed them that there should not be more than seven regional districts in the new system. This committee was to select the locations of the "decentralized" reserve banks. They were empowered to select from eight to twelve reserve banks, although J.P. Morgan had testified he thought that not more than four should be selected.
# John Moody, "The Seven Men", McClure’s Magazine, August, 1911, p. 418 stated:
"Seven men in Wall Street now control a great share of the fundamental industry and resources of the United States. Three of the seven men, J.P. Morgan, James J. Hill, and George F. Baker, head of the First National Bank of New York belong to the so-called Morgan group; four of them, John D. and William Rockefeller, James Stillman, head of the National City Bank, and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Company, to the so-called Standard Oil City Bank group ... the central machine of capital extends its control over the United States ... The process is not only economically logical; it is now practically automatic."
# The ten largest bank holding companies in the United States are subject to these banking houses, all of which have branches in London. They are J.P. Morgan Company, Brown Brothers Harriman, Warburg, Kuhn Loeb and J. Henry Schroder.
J.P. Morgan Company began as George Peabody and Company. George Peabody (1795-1869), began business in Georgetown, D.C. in 1814 as Peabody, Riggs and Company, dealing in wholesale dry goods, and in operating the Georgetown Slave Market. In 1815, to be closer to their source of supply, they moved to Baltimore, where they operated as Peabody and Riggs, from 1815 to 1835. Peabody in 1835 established the firm of George Peabody and Company in London.
# Eustace Mullins, Mullins On The Federal Reserve, Kasper and Horton, New York, 1952, wrote:
"Baron Nathan Mayer Rothschild met Peabody and offered that he run certain 'dinners' for elements of society. Peabody accepted the offer and soon became known as the most popular host in London. His annual Fourth of July dinner, celebrating American Independence, became extremely popular with the English aristocracy."
# John Moody noted, in The Masters of Capital, page 27:
"The Rothschilds were content to remain a close ally of Morgan... as far as the American field was concerned."
# The reason that the European Rothschilds preferred to operate anonymously in the United States behind the facade of J.P. Morgan and Company is explained by George Wheeler, Pierpont Morgan and Friends, the Anatomy of a Myth, Prentice Hall, N.J. 1973 page 17:
"But there were steps being taken even now to bring him out of the financial backwaters--and they were not being taken by Pierpont Morgan himself. The first suggestion of his name for a role in the recharging of the reserve originated with the London branch of the House of Rothschild, Belmont’s employers."
# Another Baltimore firm established in Liverpool were the Brown Brothers. Alexander Brown came to Baltimore in 1801, and established what is now known as the oldest banking house in the United States, still operating as Brown Brothers Harriman of New York; Brown, Shipley and Company of England; and Alex Brown and Son of Baltimore.
# Sir Montagu Norman, Governor of the Bank of England for many years, was a partner of Brown, Shipley and Company. Sir Montagu Norman was organizer of "informal talks" between heads of central banks in 1927, prior to the Great Stockmarket Crash of 1929. In Current Biography, 1940, he said:
"There is an informal understanding that a director of Brown, Shipley should be on the Board of the Bank of England, and Norman was elected to it in 1907."
# Mullins [op.cit.] states:
"Although the London house of Junius S. Morgan and Company continued to be the dominant branch of the Morgan enterprises, with the death of the senior Morgan in 1890 in a carriage accident on the Riviera, John Pierpont Morgan became the head of the firm.
After operating as the American representative of the London firm from 1864-1871 as Dabney Morgan Company, Morgan took on a new partner in 1871, Anthony Drexel of Philadelphia and operated as Drexel Morgan and Company until 1895. Drexel died in that year, and Morgan changed the name of the American branch to J.P. Morgan and Company."
# William Guy Carr, in Pawns In The Game, privately printed, 1956, pg. 60 stated that:
"In 1899, J.P. Morgan and Drexel went to England to attend the International Bankers Convention. When they returned, J.P. Morgan had been appointed head representative of the Rothschild interests in the United States. As the result of the London Conference, J.P. Morgan and Company of New York, Drexel and Company of Philadelphia, Grenfell and Company of London, and Morgan Harjes Cie of Paris, M.M. Warburg Company of Germany and America, and the House of Rothschild were all affiliated."
# La Rouche [op.cit.], stated that on February 5, 1891, a secret association known as the Round Table Group was formed in London by Cecil Rhodes, his banker, Lord Rothschild, the Rothschild in-law, Lord Rosebery, and Lord Curzon. He states that in the United States the Round Table was represented by the Morgan group.
Dr. Carrol Quigley, Tragedy and Hope, Macmillan Co., N.Y. refers to this group as "The British-American Secret Society", stating that:
"The chief backbone of this organization grew up along the already existing financial cooperation running from the Morgan Bank in New York to a group of international financiers in London led by Lazard Brothers (in 1901)."
Conclusion
The obvious question is: "So what?" Right, there is a London, European and American connection. Right, the Fed is a money making machine in the hands of private bankers. Right, the power over coinage is out of the hands of Congress and therefore the people. And what? Do they care?
After all, during the "Money Trust" hearings in 1912, under the leadership of Congressman Arsene Pujo of Louisiana, the Pujo subcommittee of the House Banking and Currency Committee asked banker after banker if he was a banker.
The response was: "Yes, I am indeed a banker."
What did that prove? The answer is: "Nothing much." What is of far greater concern is the role of the NYCH, the European gold transfers, the Fed's activities and the 1927 meeting of central banks which was followed by the Wall Street crash.
Of vastly more interest was the extra-curricular activities of bankers at leisure, e.g. the 'stag parties' on Jeckyll Island or what 'hunting' required regular members to be asked to stay away. This is interesting in the light of Bohemian Grove.
While Barings connections with the opium trade and slavery and Rothschilds' connection with the Nazis are interesting in themselves, of more interest is why the Rothschilds are linked with the following houses: Astor, Bundy, Collins, Dupont, Freeman, Kennedy, Leigh, Onassis, Rockefeller, Rothschild, Russell, Van Dine and the Merovingians [?], in a separate and yet interwoven context.
You can throw anything into this discussion, for example, Stanley Baldwin's comment on parliament, [J.M.Keynes, Economic Consequences of the Peace, 1919]:
"They are a lot of hard faced men who look as if they had done very well out of the war."
Into this, one can drop Churchill's "now at last this band of extraordinary personalities from the underworld of the great cities of Europe and America" line.
When one gets right into the words spoken and written by people close to the source of power, there is a common thread to it. It's the freewheeling manner with huge sums, abject disregard for due process, complete disregard for consequences on the little people and elements of sheer madness behind the assumptions. There is no country, no humanity to it, only profit. There's ample evidence of it in Philip Dru, Colonel House's fictional hero [Col. Edward M. House in Philip Dru, Administrator, B. W. Heubsch, New York, 1912, page 148]:
"They recognized the fact that Dru dominated the situation and that a master mind had at last risen in the Republic." He now assumed the title of General. "General Dru announced his purpose of assuming the powers of a dictator . . . they were assured that he was free from any personal ambition . . . he proclaimed himself ‘Administrator of the Republic.’"
This last was written by a man who went on to advise Woodrow Wilson on behalf of the finance. This is the thing this blogger is so down on - the megalomaniacal insanity of the powerful, the closer they get to the source of power. In Agatha Christie's NorM, Inspector Grant concludes:
"It appeals to something in man, the desire or lust for power. In every land it has been the same - the cult of Lucifer. Lucifer, Son of the Morning - pride and a desire for personal glory."
This is not inconsistent with facilitated financial panics, the slave trade, the drug trade, tolerance of child porn, the enabling of wars and the progressive impoverishment and indebtedness of the people of the various western nations by means of the control of credit and pricing. It explains the choice of a 'humanless' system of acceptances over open book accessibility. It explains the death of the bank manager/customer relationship.
The "money is a commodity" line of J.P.Morgan rings hollow in this context. If only we had an Old Hickory who would address the finance directly:
"You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!"
Labels: finance
posted by James Higham @ 15:05
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