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This Financial Mess - Causes and Cures

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Webster G. Tarpley and Anton Chaitkin, authors of George Bush: The Unauthorized Biography wrote: “On Oct. 20, 1942, (Almost a year after entering the WW II) the U.S. government ordered the seizure of Nazi German banking operations in New York City, which were being conducted by Prescott Bush. Under the Trading with the Enemy Act, the government took over the Union Banking Corporation, in which Bush was a director. The U.S. Alien Property Custodian seized Union Banking Corp.'s stock shares, all of which were owned by Prescott Bush, E. Roland “Bunny”' Harriman, three Nazi executives, and two other associates of Bush.”  "On October 28, the government issued orders seizing two Nazi front organizations run by the Bush-Harriman bank: the Holland-American Trading Corporation and the Seamless Steel Equipment Corporation." ..."Nazi interests in the Silesian-American Corporation, long managed by Prescott Bush and his father in law George Herbert Walker, were seized under the Trading with the Enemy Act on Nov. 17, 1942..." The seizures of Bush businesses were reported in a number of American papers including The New York Times and The Wall Street Journal.  Prescott Bush, of course, was the father of President George Herbert Walker Bush and grandfather of President George Walker Bush.  George Herbert Walker was Prescott’s father-in-law.  "That's where the Bush family fortune came from: It came from the Third Reich." - John Loftus, US Justice Dept. Nazi War Crimes investigator.  "Let’s forgive the Nazi war criminals." - President George Bush, New York Times – April 14, 1990. This has nothing to do with the Federal Reserve Bank, it’s just a fun fact you can use at parties.

The World Bank and I.M.F.

Towards the end of World War II, in Bretton Woods, New Hampshire, international bankers got together and created the framework for the International Monetary Fund (IMF) and the World Bank.  The principal architects of the IMF were Harry Dexter White and John Maynard Keynes.  Interestingly, Harry Dexter White, liaison between the U.S. Treasury and State Department during WW II and later director of the I.M.F., was positively identified as a Soviet spy (code name, "Jurist") by the FBI.  The I.M.F. and World Bank copied on a world scale what the Federal Reserve Act had established in the United States.  They created a banking cartel of the world's privately owned central banks, which then assumed the power to dictate policies to the banks of all nations.  

As struggling nations borrow from the IMF, they loose control when they can’t pay the interest, and have to borrow more and more.  The IMF will then decide which nations can borrow more and which will starve.  They can also use this as leverage to take state owned assets like utilities as payment against the debt until IMF eventually “owns” the country.  Take Ecuador as a typical example.  In order for Ecuador's government to be allowed a loan of 1.5 billion dollars from the IMF, they were forced to take over the unpaid private debts that Ecuador's elite owed to private banks and the IMF dictated price hikes in electricity and other utilities.  When that didn't give the IMF enough interest, they ordered Ecuador to raise the price of cooking gas by 80%; transfer the ownership of its biggest water system to foreign operators; grant British Petroleum the rights to build and own an oil pipeline over the Andes; eliminate the jobs of 120,000 government workers and reduce the wages of those remaining by 50%.    In fact, the IMF and World Bank have made the sale of electricity, water, telephone and gas systems a condition of loans to every developing nation. The IMF owns 4 trillion dollars of third world “public” assets.  There are many losers in this world banking system and few winners, the bankers.  In 1987, Edmond de Rothschild created the World Conservation Bank, which cleverly trades debts from third world countries for vast tracts of their land. This design ensures the Rothschilds will gain control over huge portions of the earth.  

The debt of third world countries is constantly being increased to provide temporary relief from the poverty being caused by previous borrowing. Attempts to repay loans have caused increased infant mortality and unemployment, deteriorating schools, and general health and welfare problems. Typically, these loans do not alleviate poverty or further any development; they simply create a steady flow of wealth from borrowing nations to the international bankers who control the IMF and the World Bank.  As one prominent Brazilian politician, Luis Ignacio Silva, put it:  "The Third World War has already started - a silent war, not for that reason any the less sinister. This war is tearing down Brazil, Latin America and practically all the Third World. Instead of soldiers dying there are children, instead of millions of wounded there are millions of unemployed; instead of destruction of bridges there is the tearing down of factories, schools, hospitals, and entire economies . . . It is a war by the United States against the Latin American continent and the Third World. It is a war over the foreign debt, one which has as its main weapon interest, a weapon more deadly than the atom bomb, more shattering than a laser beam.  

Eventually these people will come to realize that their chains were forged with money created out of nothing.  We can expect individual complaints at first, swelling to waves of outrage as whole populations awaken from centuries of intellectual slumber to find their futures foreclosed and bleak.  If this “Third World” scenario frightens you, consider the fact that this very same scam of creating money from debt is being used against you and we call it the Federal Reserve System.  Americans are now working longer hours than in any other industrialized country and most of us just spinning our financial wheels while slowly sliding down a slippery slope.  There is a reason.

The Bankers’ Final Solution

"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." - Carroll Quigley, Professor, Georgetown University, “Tragedy and Hope”

"We shall have World Government, whether or not we like it.  The only question is whether World Government will be achieved by conquest or consent." - Paul Warburg, Council on Foreign Relations and Architect of the Federal Reserve System: Feb 17, 1950 in an address to the U.S. Senate.  "Who controls money controls the world.” – Henry Kissinger.  

"We are grateful to the Washington Post, the New York Times, Time magazine and other great publications whose directors have attended our meetings and respected the promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world-government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the National auto-determination practiced in past centuries" - David Rockefeller, in an address to a Trilateral Commission meeting in June of 1991.

In 1953, in a toast before the New York Press Club, John Swinton, former Chief of Staff of the New York Times and the "Dean of his Profession" stated, "If I allowed my honest opinions to appear in one issue of my paper, before twenty-four hours my occupation would be gone. The business of journalists is to destroy the truth; to pervert; to vilify; to fawn at the feet of mammon, and to sell this country and this race for their daily bread. We are the tools and vessels for rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities and our lives are all the property of other men. We are intellectual prostitutes." “They (the Rockefellers) control most of the important newspapers, magazines, and book publishing houses in the country, including the Curtis Publications, the Hearst Publications, Time, the New York Times, the Associated Press and many others.” — The Elements of Economics, by J.L. Carmichael.   

"For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as 'internationalists' and of conspiring with others around the world to build a more integrated global political and economic structure -- one world, if you will. If that's the charge, I stand guilty, and I am proud of it." - David Rockefeller, from his Memoirs in 2002.

“The dirty little secret is that both houses of Congress have become increasingly irrelevant... In case you hadn’t noticed, America’s domestic policy is now being run by Alan Greenspan and the Federal Reserve Board.  Congress is out of the loop... America’s foreign policy, mean while, is now being run by the International Monetary Fund (IMF), with some coaching from the Treasury Department... Here, too, Congress has become irrelevant. Some senators and House members fussed a bit when the administration asked for tens of billions of additional dollars for the IMF. But in the end, the elected representatives came through... And when the president decides to go to war, he no longer needs a declaration of war from Congress. He just calls up a few generals, phones Tony Blair in Britain and sends in the bombers. Have you seen a single congressional hearing or congressional debate on the U.S.-Iraqi war?” -  Robert B. Reich, Secretary of the Treasury.

A Few Curiosities:

Federal Reserve Notes never claimed to be “dollars” nor did they even claim to be “money.”  The definition of a dollar is specified in the Coinage Act of 1792. Law defines a dollar as, “371.25 grains of fine silver."  I’m sure everyone has seen a real silver dollar.  Other than that, you probably never have seen a real dollar.  The 1929 series of Federal Reserve notes said: “Redeemable in gold on demand at the United States Treasury, or in gold or lawful money at any Federal Reserve Bank.”  The 1934 series of notes said:  "The United States of America will pay to the bearer on demand (for example) five dollars." Why would you take this note and change it for five dollars, unless it was not five dollars.  It also said, "This note is legal tender for all debts public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank."  So the notes were not “lawful money?”  In 1963, the “Fed” began to issue its first series of notes without the promise, while taking notes with the promise out of circulation. How can paper become what it promises by removing the promise? It now reads, simply, "This note is legal tender for all debts public and private" meaning just that - it is what it is, or – “I yam what I yam.” – Popeye, 1936.  If you want to know what real money feels like, in one hand, hold a silver dollar or, better yet, a double eagle, a twenty-dollar gold piece.  Now, in your other hand, hold the equivalent Federal Reserve Note.  Originally, these items were freely interchangeable.  Our dollars used to say that they were redeemable in gold or silver – and they were.  Merchants had paper money along with gold and silver coins in their registers.  Many of us are old enough to remember our change was always paid in silver and copper (not copper-coated zinc) coins.  Gold coins stopped in 1933, silver coins in 1963, and copper in 1982.  Oh, and do you know why they are called, dollar “bills?”  Because they are just like any other “bill” or I.O.U. that you owe.  We Americans, through our government, “borrowed” that money from the “Fed,” it is part of our national debt and we owe them that dollar back plus interest.  We can barely pay the interest on this debt, which is currently (pre-bailout) about $475 billion a year.    

In 1963, President Kennedy issued paper money from the U.S. Treasury carrying a red seal, called United States Notes. These are NOT Federal Reserve Notes; they are in fact, issued by our U.S. Treasury.  (You can buy them on Ebay.)  Some conspiracy theorists believe he was killed, like President Lincoln, for having the gall to print money outside of the Federal Reserve System.  June 4, 1963, 5 months before he was killed by a person or persons unknown, President Kennedy signed Executive Order No. 11110, which authorized the U.S. Treasury to issue silver certificates against any silver bullion in the Treasury.  I find it unlikely that the Federal Reserve was involved in his murder.  Honestly, there are so many theories about why and who killed Kennedy that he would have had to be shot about a hundred and fifty times that day for every alleged conspirator to be guilty.  Who killed Kennedy?  Simple answer, the C.I.A.  But that’s another blog.

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Mike Kirchubel writes a weekly Progressive/Economic column for the Fairfield, California Daily Republic and is the author of: Vile Acts of Evil, a look at the hidden economic history of the United States. Vile Acts of Evil almost wrote itself. (more...)

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I really don't understand wy it hasn't att... by Robert Hoogenboom on Monday, Dec 29, 2008 at 3:16:12 AM
that would actually require people to READ and mak... by Tippy Canoe on Tuesday, Dec 30, 2008 at 8:25:29 AM
Insightful, Thoughtful, Meaningful...Thank you; we... by Jim Hocker on Tuesday, Dec 30, 2008 at 2:30:44 AM
This maybe the missing piece of the puzzle.See wha... by MARGARET BASET on Tuesday, Dec 30, 2008 at 6:09:35 AM
I really love the "conspiracy" theories,... by Mike Kirchubel on Wednesday, Dec 31, 2008 at 2:10:39 AM
Coincidence Theory has always fascinated me much m... by William Whitten on Sunday, Jan 4, 2009 at 3:21:38 AM
The fact that the main participants in the Jekyll ... by Mike Kirchubel on Monday, Jan 5, 2009 at 12:43:24 AM