During World War I, Woodrow Wilson turned the vast powers of the United States over to three of his campaign backers, Federal Reserve author, Paul Warburg, Bernard Baruch and Eugene Meyer (you would think that these wealthy bankers would have supported the Republican candidate, who openly sponsored the establishment of a central bank.) Baruch was appointed head of the War Industries Board, with life and death powers over every factory in the United States; Eugene Meyer was appointed head of the War Finance Corporation, in charge of the loan program that financed the war; and Paul Warburg ran the nation’s banking system.
Our British allies viewed the placement of Paul Warburg as head of the banking consortium with foreboding because his banker brother, Max Warburg, was the head of the German Imperial Intelligence. In June 1918, Paul Warburg wrote Woodrow Wilson, "I have two brothers in Germany who are bankers. They naturally now serve their country to their utmost ability, as I serve mine."
War uses up more materials faster than anything else. In war expensive equipment doesn't wear out, it gets blown up. Baruch spent the American taxpayer’s money at the rate of ten billion dollars a year, and was the dominant member of the Munitions Price-Fixing Committee, setting the prices at which the Government bought war materials. It would be naive to presume that the purchase orders did not go to corporations in which he and his associates had an interest. Some members of Congress were curious about Baruch’s qualifications to exercise life and death powers over American industry in time of war. Everyone knew he had no manufacturing experience and when he was called before a Congressional Committee, Bernard Baruch stated that his profession was "Speculator." A Wall Street gambler was Czar of all American Industry. Again, he made $200 million during the War.
Congressional investigations of Eugene Meyer’s leadership of the War Finance Corporation revealed that each night, the books were being altered before being brought in for the next day’s investigation. Louis McFadden, Chairman of the House Banking and Currency Committee, figured in two investigations of Meyer, in 1925, and again in 1930, when Meyer was confirmed as a Governor of the Federal Reserve.
Representative McFadden: “Mr. Meyer is a brother-in-law of George Blumenthal, a member of the firm of J.P. Morgan Company, which represents the Rothschild interests. He also is a liaison officer between the French Government and J.P. Morgan. Edmund Platt, who had eight years to go on a term of ten years as Governor of the Federal Reserve Board, resigned to make room for Mr. Meyer. Platt was given a Vice-Presidency of Marine Midland Corporation by Meyer's brother-in-law Alfred A. Cook. Eugene Meyer, Jr. as head of the War Finance Corporation, engaged in the placing of two billion dollars in Government securities, placed many of those orders first with the banking house now located at 14 Wall Street in the name of Eugene Meyer, Jr. Mr. Meyer is now a large stockholder in the Allied Chemical Corporation. I call your attention to House Report No. 1635, 68th Congress, 2nd Session, which reveals that at least twenty-four million dollars in bonds were duplicated. Ten billion dollars worth of bonds surreptitiously destroyed. Our committee on Banking and Currency found the records of the War Finance Corporation under Eugene Meyer, Jr. extremely faulty. While the books were being brought before our committee by the people who were custodians of them and taken back to the Treasury at night, the committee discovered that alterations were being made in the permanent records." That’s right; he made copies of bonds and coupons and cashed them in. It’s hard to figure out just how that could have been done in “error.” This record of “public service” did not prevent Eugene Meyer from continuing to serve the American people on the Federal Reserve Board, as Chairman of the Reconstruction Finance Corporation, and later, as head of the World Bank. These investigations may explain why, at the end of World War One, Eugene Meyer was able to buy control of Allied Chemical and The Washington Post (Katherine Graham was his daughter.)
On February 12, 1917, The New York Times reported, "The five members of the Federal Reserve Board were impeached on the floor of the House by Rep. Charles A. Lindbergh, Republican member of the House Banking and Currency Committee. According to Mr. Lindbergh, ‘the conspiracy began in’ 1906 when the late J.P. Morgan, Paul M. Warburg, a present member of the Federal Reserve Board, the National City Bank and other banking firms ‘conspired’ to obtain currency legislation in the interest of big business and the appointment of a special board to administer such a law, in order to create industrial slaves of the masses, the aforesaid conspirators did conspire and are now conspiring to have the Federal Reserve Board administered so as to enable the conspirators to coordinate all kinds of big business and to keep themselves in control of big business in order to amalgamate all the trusts into one great trust in restraint and control of trade and commerce." The House did not act his impeachment resolution.
At the end of his term in the White House, Woodrow Wilson said, in regret: "We have come to be one of the worst ruled, one of the most completely controlled governments in the civilized world - no longer a government of free opinion, no longer a government by... a vote of the majority, but a government by the opinion and duress of a small group of dominant men.” “Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it." - Woodrow Wilson.
The Russian Revolution
Jacob Schiff, partner in Kuhn, Loeb, and Co., helped plan and finance the Russian Revolution. Leon Trotsky (whose actual name was Lev Davidovich Bronstein) left New York on March 27, 1917 aboard the S. S. Kristianiafjord, which had been chartered by Jacob Schiff along with his brother-in-law, Paul Warburg. On April 3rd, Trotsky was arrested by Canadian authorities in Halifax, Nova Scotia as a “German prisoner of war.” Both the British and American governments urged them to let him go. Wilson said that if they didn't comply, the U.S. would not enter the War. Trotsky was released, given an American passport, a British transport visa, and a Russian entry permit. It is obvious that Wilson knew what was going on, because accompanying Trotsky was Charles Crane of the Westinghouse Company, who was also the Chairman of the Democratic Finance Committee. The U.S. entered World War I three days later. Jennings C. Wise, in Woodrow Wilson: Disciple of Revolution, states, "Historians must never forget that Woodrow Wilson, despite the efforts of the British police, made it possible for Leon Trotsky to enter Russia with an American passport." The resultant Revolution took Russia out of the War and allowed Germany to concentrate more manpower on the western front, against British and American forces.
Russian General Arsène DeGoulevitch wrote in Czarism and the Revolution that, “The main purveyors of funds for the revolution, however, were neither crackpot Russian millionaires nor armed bandits of Lenin. The 'real' money primarily came from certain British and American circles which for a long time past had lent their support to the Russian revolutionary cause...” and that the revolution was "...engineered by the English, more precisely by Sir George Buchanan and Lord (Alfred) Milner (of the Round Table) ... In private conversations I have been told that over 21 million rubles were spent by Lord Milner in financing the Russian Revolution." (There will be much more on Milner and the “Round Table” in later blogs.) Actually, Jacob Schiff contributed $20 million to the revolution, the Rockefellers gave $1 million, Federal Reserve Bank Director, William Boyce Thompson gave a million, and so did the President of Rockefeller’s Chase National Bank, Albert H. Wiggin. "The course of Russian history has, indeed, been greatly affected by the operations of international bankers... The Soviet Government has been given United States Treasury funds by the Federal Reserve Board... acting through the Chase Bank. ... England has drawn money from us through the Federal Reserve Banks and has re-lent it at high rates of interest to the Soviet Government... The Dnieperstory Dam was built with funds unlawfully taken from the United States Treasury by the corrupt and dishonest Federal Reserve Board and the Federal Reserve Banks." Rep. Louis T. McFadden (R-PA) Chairman of the House Banking and Currency Committee.
In 1944 Mr. Henry Morgenthau Jr., Mr. Roosevelt's Secretary of the Treasury, and his Assistant Secretary, Mr. Harry Dexter White (a Soviet agent) ordered the shipment to the Soviet Government of United States Treasury plates, special ink, and currency paper (also supplies of uranium and heavy water.) By the end of 1946, the United States Military Government in Germany found it had redeemed about $250,000,000 in counterfeit notes (One estimate was $380 million.)
Why would rich capitalists fund a communist revolution? Well, for one thing, Czarist Russia had no central bank for the international bankers to plunder. In addition, the Czar had intervened in America’s Civil War, sending fleets to both New York and San Francisco, keeping the French and British (literally) at bay. This spoiled the Rothschild plan to split our country in two. And, according to Gary Allen: "If one understands that socialism is not a share-the-wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of super-rich men promoting socialism becomes no paradox at all. Instead, it becomes logical, even the perfect tool of power-seeking megalomaniacs. Communism or more accurately, socialism, is not a movement of the downtrodden masses, but of the economic elite."
Even when Communism collapsed in the Soviet Union, Boris Yeltsin revealed that most of the foreign aid was ending up: "straight back into the coffers of western banks in debt service." The international bankers, it seems, have always owned everybody.
"People who will not turn a shovel full of dirt… nor contribute a pound of material, will collect more money from the United States than will the People who supply all the material and do all the work. This is the terrible thing about interest ...But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good, also. The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way. It is absurd to say that our country can issue $30 million in bonds and not $30 million in currency. Both are promises to pay, but one promise fattens the usurers and the other helps the people." - Thomas A. Edison, the New York Times, December 6, 1921. Of course, this is true and we all know it. If you buy a house for $250,000 with a 30-year loan at 7.5%, you will end up paying over one and a half times as much in interest as you paid for the actual building and land. The loan was created out of nothing, with the stroke of a pen using fractional reserve banking, but the interest paid was created from 30 years of blood, sweat, and tears of the homeowner. From the early 1920s to 1929, the monetary supply expanded and the nation experienced strong economic growth. Curiously, however, the number of banks started to decline. Toward the end of the period, speculation and loose money had propelled asset and equity prices. The stock market crashed, and as the banks struggled with liquidity problems, the Federal Reserve actually cut the money supply. Without a doubt, this is the greatest financial panic and economic collapse in American history (so far) - and it never could have happened on this scale without the Federal Reserve Bank’s intervention. Banks collapsed and a few of the old Money Trust banks managed to swoop in and grab up competitors for pennies on the dollar. (Remember Jefferson’s warning, “First by inflation, then by deflation...the banks will deprive the people of all property”)
"Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montague Norman of the Bank of England.” - Bernard Baruch. Why is the Bank of England (Rothschild) telling the Federal Reserve Bank what to do ... Like they own it?
The Crash of ‘29
In April 1929, Paul Warburg sent out a secret warning to his friends that a collapse and nationwide depression had been planned for later that year. Joseph P. Kennedy, John F. Kennedy's father, was worth 4 million dollars in 1929. By 1935 that had increased to over 100 million dollars. The money did not simply disappear in 1929; it just ended up consolidated in fewer and fewer hands, as was planned.
So, as all the bankers and their friends already knew, in August the Federal Reserve began to tighten the money supply. Then on the 24th of October 1929, the New York bankers called in their broker call loans. This meant that anyone who bought stock on margin and couldn’t come up with the rest of the money they owed had to dump their stocks to cover their loans. Because of this, the stock market crashed on a day that would go down in history as, "Black Thursday." Winston Churchill, after arriving from Chicago in Bernard Baruch's private train, was on the visitor’s gallery of the New York Stock Exchange just as the crash happened. The story goes, “When Churchill was ruined, Baruch called him to his office, and gave all his money back, but not without an understanding. At Churchill’s family home in Chartwell, he has two pictures, one above the other. The top picture was of Bernard Baruch, the picture below was of a black and white bulldog -- the bulldog, the symbol of Sir Winston himself in the world media. The message, with Churchillian wit, is clear -- "dog and master."
"It was not accidental. It was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all!" - Congressman Louis McFadden (chairman of the House Banking Committee at the time.)
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