Page 5 of 5 FirstFirst ... 2345
Results 41 to 50 of 50

Thread: Federal Reserve

  1. #41

    Red face Be wary of Federal Reserve System

    Story:
    Another Viewpoint: Be wary of Federal Reserve System

    Another Viewpoint is a column The News-Herald makes available so all sides of issues may by aired. David B. Genis lives in Painesville.

    Alchemy is a form of chemistry and philosophy of the middle ages for transmuting base metals, such as lead into gold. The Alchemists tried in vain to convert these metals into gold but always came up with the wrong formula.

    For more of this story, click on or type the URL below:

    http://www.news-herald.com/articles/.../nh3493217.txt




    Story:
    Another Viewpoint: Be wary of Federal Reserve System

    Another Viewpoint is a column The News-Herald makes available so all sides of issues may by aired. David B. Genis lives in Painesville.

    Alchemy is a form of chemistry and philosophy of the middle ages for transmuting base metals, such as lead into gold. The Alchemists tried in vain to convert these metals into gold but always came up with the wrong formula.

    For more of this story, click on or type the URL below:

    http://www.news-herald.com/articles/.../nh3493217.txt

  2. #42

    Default Federal Reserve

    Federal Reserve Files released to Bloomberg News following a federal lawsuit
    brought to compel release (FOIA Request No. 2008-356), 2008 - [PDF 1 MB]

    http://www.governmentattic.org/4docs...IA2008-356.pdf

  3. #43

    Default The Federal Reserve Cartel: The Eight Families

    The Federal Reserve Cartel: The Eight Families

    by Dean Henderson

    Global Research, June 1, 2011

    http://www.globalresearch.ca/index.p...t=va&aid=25080

    (Part one of a four-part series)

    The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch.

    According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1]

    So who then are the stockholders in these money center banks?

    This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the top 25 US bank holding companies were given Freedom of Information Act status, before being denied on “national security” grounds. This is rather ironic, since many of the bank’s stockholders reside in Europe.

    One important repository for the wealth of the global oligarchy that owns these bank holding companies is US Trust Corporation - founded in 1853 and now owned by Bank of America. A recent US Trust Corporate Director and Honorary Trustee was Walter Rothschild. Other directors included Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil, Daniel Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. [2]

    J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of the New York Federal Reserve Bank- by far the most powerful Fed branch- by just eight families, four of which reside in the US. They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.

    CPA Thomas D. Schauf corroborates McCallister’s claims, adding that ten banks control all twelve Federal Reserve Bank branches. He names N.M. Rothschild of London, Rothschild Bank of Berlin, Warburg Bank of Hamburg, Warburg Bank of Amsterdam, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Bank of Italy, Goldman Sachs of New York and JP Morgan Chase Bank of New York. Schauf lists William Rockefeller, Paul Warburg, Jacob Schiff and James Stillman as individuals who own large shares of the Fed. [3] The Schiffs are insiders at Kuhn Loeb. The Stillmans are Citigroup insiders, who married into the Rockefeller clan at the turn of the century.

    Eustace Mullins came to the same conclusions in his book The Secrets of the Federal Reserve, in which he displays charts connecting the Fed and its member banks to the families of Rothschild, Warburg, Rockefeller and the others. [4]

    The control that these banking families exert over the global economy cannot be overstated and is quite intentionally shrouded in secrecy. Their corporate media arm is quick to discredit any information exposing this private central banking cartel as “conspiracy theory”. Yet the facts remain.

    The House of Morgan

    The Federal Reserve Bank was born in 1913, the same year US banking scion J. Pierpont Morgan died and the Rockefeller Foundation was formed. The House of Morgan presided over American finance from the corner of Wall Street and Broad, acting as quasi-US central bank since 1838, when George Peabody founded it in London.

    Peabody was a business associate of the Rothschilds. In 1952 Fed researcher Eustace Mullins put forth the supposition that the Morgans were nothing more than Rothschild agents. Mullins wrote that the Rothschilds, “…preferred to operate anonymously in the US behind the facade of J.P. Morgan & Company”. [5]

    Author Gabriel Kolko stated, “Morgan’s activities in 1895-1896 in selling US gold bonds in Europe were based on an alliance with the House of Rothschild.” [6]

    The Morgan financial octopus wrapped its tentacles quickly around the globe. Morgan Grenfell operated in London. Morgan et Ce ruled Paris. The Rothschild's Lambert cousins set up Drexel & Company in Philadelphia.

    The House of Morgan catered to the Astors, DuPonts, Guggenheims, Vanderbilts and Rockefellers. It financed the launch of AT&T, General Motors, General Electric and DuPont. Like the London-based Rothschild and Barings banks, Morgan became part of the power structure in many countries.

    By 1890 the House of Morgan was lending to Egypt’s central bank, financing Russian railroads, floating Brazilian provincial government bonds and funding Argentine public works projects. A recession in 1893 enhanced Morgan’s power. That year Morgan saved the US government from a bank panic, forming a syndicate to prop up government reserves with a shipment of $62 million worth of Rothschild gold. [7]

    Morgan was the driving force behind Western expansion in the US, financing and controlling West-bound railroads through voting trusts. In 1879 Cornelius Vanderbilt’s Morgan-financed New York Central Railroad gave preferential shipping rates to John D. Rockefeller’s budding Standard Oil monopoly, cementing the Rockefeller/Morgan relationship.

    The House of Morgan now fell under Rothschild and Rockefeller family control. A New York Herald headline read, “Railroad Kings Form Gigantic Trust”. J. Pierpont Morgan, who once stated, “Competition is a sin”, now opined gleefully, “Think of it. All competing railroad traffic west of St. Louis placed in the control of about thirty men.”[8]

    Morgan and Edward Harriman’s banker Kuhn Loeb held a monopoly over the railroads, while banking dynasties Lehman, Goldman Sachs and Lazard joined the Rockefellers in controlling the US industrial base. [9]

    In 1903 Banker’s Trust was set up by the Eight Families. Benjamin Strong of Banker’s Trust was the first Governor of the New York Federal Reserve Bank. The 1913 creation of the Fed fused the power of the Eight Families to the military and diplomatic might of the US government. If their overseas loans went unpaid, the oligarchs could now deploy US Marines to collect the debts. Morgan, Chase and Citibank formed an international lending syndicate.

    The House of Morgan was cozy with the British House of Windsor and the Italian House of Savoy. The Kuhn Loebs, Warburgs, Lehmans, Lazards, Israel Moses Seifs and Goldman Sachs also had close ties to European royalty. By 1895 Morgan controlled the flow of gold in and out of the US. The first American wave of mergers was in its infancy and was being promoted by the bankers. In 1897 there were sixty-nine industrial mergers. By 1899 there were twelve-hundred. In 1904 John Moody - founder of Moody’s Investor Services - said it was impossible to talk of Rockefeller and Morgan interests as separate. [10]

    Public distrust of the combine spread. Many considered them traitors working for European old money. Rockefeller’s Standard Oil, Andrew Carnegie’s US Steel and Edward Harriman’s railroads were all financed by banker Jacob Schiff at Kuhn Loeb, who worked closely with the European Rothschilds.

    Several Western states banned the bankers. Populist preacher William Jennings Bryan was thrice the Democratic nominee for President from 1896 -1908. The central theme of his anti-imperialist campaign was that America was falling into a trap of “financial servitude to British capital”. Teddy Roosevelt defeated Bryan in 1908, but was forced by this spreading populist wildfire to enact the Sherman Anti-Trust Act. He then went after the Standard Oil Trust.

    In 1912 the Pujo hearings were held, addressing concentration of power on Wall Street. That same year Mrs. Edward Harriman sold her substantial shares in New York’s Guaranty Trust Bank to J.P. Morgan, creating Morgan Guaranty Trust. Judge Louis Brandeis convinced President Woodrow Wilson to call for an end to interlocking board directorates. In 1914 the Clayton Anti-Trust Act was passed.

    Jack Morgan - J. Pierpont’s son and successor - responded by calling on Morgan clients Remington and Winchester to increase arms production. He argued that the US needed to enter WWI. Goaded by the Carnegie Foundation and other oligarchy fronts, Wilson accommodated. As Charles Tansill wrote in America Goes to War, “Even before the clash of arms, the French firm of Rothschild Freres cabled to Morgan & Company in New York suggesting the flotation of a loan of $100 million, a substantial part of which was to be left in the US to pay for French purchases of American goods.”

    The House of Morgan financed half the US war effort, while receiving commissions for lining up contractors like GE, Du Pont, US Steel, Kennecott and ASARCO. All were Morgan clients. Morgan also financed the British Boer War in South Africa and the Franco-Prussian War. The 1919 Paris Peace Conference was presided over by Morgan, which led both German and Allied reconstruction efforts. [11]

    In the 1930’s populism resurfaced in America after Goldman Sachs, Lehman Bank and others profited from the Crash of 1929. [12] House Banking Committee Chairman Louis McFadden (D-NY) said of the Great Depression, “It was no accident. It was a carefully contrived occurrence...The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all”.

    Sen. Gerald Nye (D-ND) chaired a munitions investigation in 1936. Nye concluded that the House of Morgan had plunged the US into WWI to protect loans and create a booming arms industry. Nye later produced a document titled The Next War, which cynically referred to “the old goddess of democracy trick”, through which Japan could be used to lure the US into WWII.

    In 1937 Interior Secretary Harold Ickes warned of the influence of “America’s 60 Families”. Historian Ferdinand Lundberg later penned a book of the exact same title. Supreme Court Justice William O. Douglas decried, “Morgan influence...the most pernicious one in industry and finance today.”

    Jack Morgan responded by nudging the US towards WWII. Morgan had close relations with the Iwasaki and Dan families - Japan’s two wealthiest clans - who have owned Mitsubishi and Mitsui, respectively, since the companies emerged from 17th Century shogunates. When Japan invaded Manchuria, slaughtering Chinese peasants at Nanking, Morgan downplayed the incident. Morgan also had close relations with Italian fascist Benito Mussolini, while German Nazi Dr. Hjalmer Schacht was a Morgan Bank liaison during WWII. After the war Morgan representatives met with Schacht at the Bank of International Settlements (BIS) in Basel, Switzerland. [13]

    The House of Rockefeller

    BIS is the most powerful bank in the world, a global central bank for the Eight Families who control the private central banks of almost all Western and developing nations. The first President of BIS was Rockefeller banker Gates McGarrah- an official at Chase Manhattan and the Federal Reserve. McGarrah was the grandfather of former CIA director Richard Helms. The Rockefellers- like the Morgans- had close ties to London. David Icke writes in Children of the Matrix, that the Rockefellers and Morgans were just “gofers” for the European Rothschilds. [14]

    BIS is owned by the Federal Reserve, Bank of England, Bank of Italy, Bank of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank and Bank of France.

    Historian Carroll Quigley wrote in his epic book Tragedy and Hope that BIS was part of a plan, “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...to be controlled in a feudalistic fashion by the central banks of the world acting in concert by secret agreements.”

    The US government had a historical distrust of BIS, lobbying unsuccessfully for its demise at the 1944 post-WWII Bretton Woods Conference. Instead the Eight Families’ power was exacerbated, with the Bretton Woods creation of the IMF and the World Bank. The US Federal Reserve only took shares in BIS in September 1994. [15]

    BIS holds at least 10% of monetary reserves for at least 80 of the world’s central banks, the IMF and other multilateral institutions. It serves as financial agent for international agreements, collects information on the global economy and serves as lender of last resort to prevent global financial collapse.

    BIS promotes an agenda of monopoly capitalist fascism. It gave a bridge loan to Hungary in the 1990’s to ensure privatization of that country’s economy. It served as conduit for Eight Families funding of Adolf Hitler- led by the Warburg's J. Henry Schroeder and Mendelsohn Bank of Amsterdam. Many researchers assert that BIS is at the nadir of global drug money laundering. [16]

    It is no coincidence that BIS is headquartered in Switzerland, favorite hiding place for the wealth of the global aristocracy and headquarters for the P-2 Italian Freemason’s Alpina Lodge and Nazi International. Other institutions which the Eight Families control include the World Economic Forum, the International Monetary Conference and the World Trade Organization.

    Bretton Woods was a boon to the Eight Families. The IMF and World Bank were central to this “new world order”. In 1944 the first World Bank bonds were floated by Morgan Stanley and First Boston. The French Lazard family became more involved in House of Morgan interests. Lazard Freres- France’s biggest investment bank- is owned by the Lazard and David-Weill families- old Genoese banking scions represented by Michelle Davive. A recent Chairman and CEO of Citigroup was Sanford Weill.

    In 1968 Morgan Guaranty launched Euro-Clear, a Brussels-based bank clearing system for Eurodollar securities. It was the first such automated endeavor. Some took to calling Euro-Clear “The Beast”. Brussels serves as headquarters for the new European Central Bank and for NATO. In 1973 Morgan officials met secretly in Bermuda to illegally resurrect the old House of Morgan, twenty years before Glass Steagal Act was repealed. Morgan and the Rockefellers provided the financial backing for Merrill Lynch, boosting it into the Big 5 of US investment banking. Merrill is now part of Bank of America.

    John D. Rockefeller used his oil wealth to acquire Equitable Trust, which had gobbled up several large banks and corporations by the 1920’s. The Great Depression helped consolidate Rockefeller’s power. His Chase Bank merged with Kuhn Loeb’s Manhattan Bank to form Chase Manhattan, cementing a long-time family relationship. The Kuhn-Loeb’s had financed - along with Rothschilds - Rockefeller's quest to become king of the oil patch. National City Bank of Cleveland provided John D. with the money needed to embark upon his monopolization of the US oil industry. The bank was identified in Congressional hearings as being one of three Rothschild-owned banks in the US during the 1870’s, when Rockefeller first incorporated as Standard Oil of Ohio. [17]

    One Rockefeller Standard Oil partner was Edward Harkness, whose family came to control Chemical Bank. Another was James Stillman, whose family controlled Manufacturers Hanover Trust. Both banks have merged under the JP Morgan Chase umbrella. Two of James Stillman’s daughters married two of William Rockefeller’s sons. The two families control a big chunk of Citigroup as well. [18]

    In the insurance business, the Rockefellers control Metropolitan Life, Equitable Life, Prudential and New York Life. Rockefeller banks control 25% of all assets of the 50 largest US commercial banks and 30% of all assets of the 50 largest insurance companies. [19] Insurance companies- the first in the US was launched by Freemasons through their Woodman’s of America- play a key role in the Bermuda drug money shuffle.

    Companies under Rockefeller control include Exxon Mobil, Chevron Texaco, BP Amoco, Marathon Oil, Freeport McMoran, Quaker Oats, ASARCO, United, Delta, Northwest, ITT, International Harvester, Xerox, Boeing, Westinghouse, Hewlett-Packard, Honeywell, International Paper, Pfizer, Motorola, Monsanto, Union Carbide and General Foods.

    The Rockefeller Foundation has close financial ties to both Ford and Carnegie Foundations. Other family philanthropic endeavors include Rockefeller Brothers Fund, Rockefeller Institute for Medical Research, General Education Board, Rockefeller University and the University of Chicago- which churns out a steady stream of far right economists as apologists for international capital, including Milton Friedman.

    The family owns 30 Rockefeller Plaza, where the national Christmas tree is lighted every year, and Rockefeller Center. David Rockefeller was instrumental in the construction of the World Trade Center towers. The main Rockefeller family home is a hulking complex in upstate New York known as Pocantico Hills. They also own a 32-room 5th Avenue duplex in Manhattan, a mansion in Washington, DC, Monte Sacro Ranch in Venezuela, coffee plantations in Ecuador, several farms in Brazil, an estate at Seal Harbor, Maine and resorts in the Caribbean, Hawaii and Puerto Rico. [20]

    The Dulles and Rockefeller families are cousins. Allen Dulles created the CIA, assisted the Nazis, covered up the Kennedy hit from his Warren Commission perch and struck a deal with the Muslim Brotherhood to create mind-controlled assassins. [21]

    Brother John Foster Dulles presided over the phony Goldman Sachs trusts before the 1929 stock market crash and helped his brother overthrow governments in Iran and Guatemala. Both were Skull & Bones, Council on Foreign Relations (CFR) insiders and 33rd Degree Masons. [22]

    The Rockefellers were instrumental in forming the depopulation-oriented Club of Rome at their family estate in Bellagio, Italy. Their Pocantico Hills estate gave birth to the Trilateral Commission. The family is a major funder of the eugenics movement which spawned Hitler, human cloning and the current DNA obsession in US scientific circles.

    John Rockefeller Jr. headed the Population Council until his death. [23] His namesake son is a Senator from West Virginia. Brother Winthrop Rockefeller was Lieutenant Governor of Arkansas and remains the most powerful man in that state. In an October 1975 interview with Playboy magazine, Vice-President Nelson Rockefeller- who was also Governor of New York- articulated his family's patronizing worldview, “I am a great believer in planning- economic, social, political, military, total world planning.”

    But of all the Rockefeller brothers, it is Trilateral Commission (TC) founder and Chase Manhattan Chairman David who has spearheaded the family’s fascist agenda on a global scale. He defended the Shah of Iran, the South African apartheid regime and the Chilean Pinochet junta. He was the biggest financier of the CFR, the TC and (during the Vietnam War) the Committee for an Effective and Durable Peace in Asia- a contract bonanza for those who made their living off the conflict.

    Nixon asked him to be Secretary of Treasury, but Rockefeller declined the job, knowing his power was much greater at the helm of the Chase. Author Gary Allen writes in The Rockefeller File that in 1973, “David Rockefeller met with twenty-seven heads of state, including the rulers of Russia and Red China.”

    Following the 1975 Nugan Hand Bank/CIA coup against Australian Prime Minister Gough Whitlam, his British Crown-appointed successor Malcolm Fraser sped to the US, where he met with President Gerald Ford after conferring with David Rockefeller. [24]

    Next Week: Part II: Freemasons & The Bank of the United States

    [1] 10K Filings of Fortune 500 Corporations to SEC. 3-91
    [2] 10K Filing of US Trust Corporation to SEC. 6-28-95
    [3] “The Federal Reserve ‘Fed Up’. Thomas Schauf. www.davidicke.com 1-02
    [4] The Secrets of the Federal Reserve. Eustace Mullins. Bankers Research Institute. Staunton, VA. 1983. p.179
    [5] Ibid. p.53
    [6] The Triumph of Conservatism. Gabriel Kolko. MacMillan and Company New York. 1963. p.142
    [7] Rule by Secrecy: The Hidden History that Connects the Trilateral Commission, the Freemasons and the Great Pyramids. Jim Marrs. HarperCollins Publishers. New York. 2000. p.57
    [8] The House of Morgan. Ron Chernow. Atlantic Monthly Press NewYork 1990
    [9] Marrs. p.57
    [10] Democracy for the Few. Michael Parenti. St. Martin’s Press. New York. 1977. p.178
    [11] Chernow
    [12] The Great Crash of 1929. John Kenneth Galbraith. Houghton, Mifflin Company. Boston. 1979. p.148
    [13] Chernow
    [14] Children of the Matrix. David Icke. Bridge of Love. Scottsdale, AZ. 2000
    [15] The Confidence Game: How Un-Elected Central Bankers are Governing the Changed World Economy. Steven Solomon. Simon & Schuster. New York. 1995. p.112
    [16] Marrs. p.180
    [17] Ibid. p.45
    [18] The Money Lenders: The People and Politics of the World Banking Crisis. Anthony Sampson. Penguin Books. New York. 1981
    [19] The Rockefeller File. Gary Allen. ’76 Press. Seal Beach, CA. 1977
    [20] Ibid
    [21] Dope Inc.: The Book That Drove Kissinger Crazy. Editors of Executive Intelligence Review. Washington, DC. 1992
    [22] Marrs.
    [23] The Rockefeller Syndrome. Ferdinand Lundberg. Lyle Stuart Inc. Secaucus, NJ. 1975. p.296
    [24] Marrs. p.53

    Dean Henderson is the author of Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network and The Grateful Unrich: Revolution in 50 Countries. His Left Hook blog is at www.deanhenderson.wordpress.com

    *** **** ****

    David Rockefeller, Sr. (born June 12, 1915) is the current patriarch of the Rockefeller family. He is the youngest and only surviving child of John D. Rockefeller, Jr. and Abby Aldrich Rockefeller, and the only surviving grandchild of oil tycoon John D. Rockefeller, founder of Standard Oil.

    http://en.wikipedia.org/wiki/David_Rockefeller

    1 Early life
    2 Joins family business
    3 Career at the Chase Bank
    4 World Bank and IMF
    5 Prominent associates
    6 Bilderberg, Council on Foreign Relations and Trilateral Commission
    7 The family estate: Pocantico
    8 Family patriarch
    9 Wealth and hobbies
    10 Wife, children and residences
    11 Positions held/institutions founded during his lifetime
    12 Awards
    13 David Rockefeller awards and study programs
    14 Publications
    15 Clubs
    16 Bibliography
    17 See also
    18 Notes
    18.1 References
    19 External links


    Rockefeller attended the experimental Lincoln School, at 123rd Street, in Harlem, the brainchild of Abraham Flexner, who had been strongly influenced by the educational philosophy of John Dewey. The school, opened in 1916, was operated by the Teachers College at Columbia University, with crucial funding in its early years from the family's General Education Board, the philanthropic educational institution which had been created by his grandfather and further supported by his father, which was later rolled into the Rockefeller Foundation. Later, in 1936, he graduated cum laude from Harvard University, doing his senior thesis on Fabian socialism. He did a postgraduate year in economics at Harvard and then a year at ehe London School of Economics, which had strong links to the family through his father and the family-run Rockefeller Foundation. It was at this time he first worked briefly in the London branch of what was to become the Chase Manhattan Bank. ... In 1940 he received his Ph.D. from the family-created (1889) University of Chicago; his dissertation was entitled: "Unused Resources and Economic Waste".

    In 1947, Rockefeller was invited onto the board of the Carnegie Endowment for International Peace by its then president, Alger Hiss, later to be embroiled in a spy scandal; serving on the board were such figures as John Foster Dulles (chairman), Dwight D. Eisenhower and the president of IBM, Thomas J. Watson. ...
    Rockefeller joined the Council on Foreign Relations (CFR) as a director in 1949, the youngest to be appointed to that position up to that time; he was later to become head of the nominating committee for future membership; much later he became chairman of this influential foreign policy think-tank.[8] It was later established, however, that his connection to the Council predated this directorship in 1949. He had earlier played a role in the Council's deliberations as the secretary of the CFR Study Group on "Reconstruction in Western Europe", that met over the years 1946-47. The deliberations of that group are credited with influencing the Truman administration's decision to reconstruct war ravaged Europe with American financial aid, subsequently known as the Marshall Plan.[9]

    snip

    In 1946, Rockefeller became the family's first and only banker when he joined the staff of the longtime family-associated Chase National Bank ("the Rockefeller Bank"). The chairman at that time was his uncle Winthrop Aldrich, the son of the powerful U.S. Senator Nelson W. Aldrich, and the brother of Rockefeller's mother, Abby Aldrich. Chase National subsequently became the Chase Manhattan Bank in 1955, and is now called JPMorgan Chase.

    snip

    In 1954, Rockefeller became chairman of the committee charged with deciding the location of the bank's new headquarters. The following year his decision to erect the building in the Wall Street area was accepted; it was subsequently seen as a decision that directly revived the City's downtown financial district. In 1960 the headquarters was completed under his direction at One Chase Manhattan Plaza, on Liberty Street in downtown Manhattan, directly across from the Federal Reserve Bank of New York. At 60 stories, it was at that time the largest bank building in the world; it also had, five floors below ground, the largest bank vault then in existence.

    The Chase Bank's principal competitor — then and now — was National City Bank of New York (later First National City Bank), now Citibank, a division of the holding company Citigroup. Ironically, National City had a long association with the Rockefeller family through James Stillman, a director of the Bank, and David's great-uncle William Rockefeller, Standard Oil's finance manager, who was recruited to the Bank's board by Stillman from 1884 onwards. The Bank then became enriched by its association with the Standard Oil empire, to the point where it was nicknamed the Oil Bank.[12]

    When Stillman and William Rockefeller's children later intermarried they became the Stillman Rockefellers and a descendant, James Stillman Rockefeller, subsequently became chairman of Citibank from 1959, at about the same time as David became Chase president in 1960.

    In the 1960s Rockefeller and other businessmen formed the Chase International Advisory Committee (IAC) — which in 2005 consisted of twenty-eight prominent and respected businessmen from 19 nations throughout the world, many of whom were his personal friends; he was subsequently to become chairman until he retired from that position on the IAC in 1999. After the J. P. Morgan merger, this committee was renamed the International Council, and contains prominent figures such as Henry Kissinger, Riley P. Bechtel (of the Bechtel Group), Andre Desmarais, Lee Kuan Yew and George Shultz, the current chairman. Historically, prominent figures on the IAC have included Gianni Agnelli [FIAT] (a longtime associate, who spent thirty years on the Committee), John Loudon (Chairman of Royal Dutch-Shell), C. Douglas Dillon, David Packard and Henry Ford II.[13]

    The Chase Bank has also had a strong connection to the World Bank, as three presidents (John J. McCloy, Eugene R. Black, Sr. and George Woods) all worked at Chase before taking up positions at the international bank. A fourth president, James D. Wolfensohn, is also closely associated with Rockefeller, serving as a director of the Rockefeller Foundation, amongst other family-created institutions.[15]

    Rockefeller has also for many years hosted annual luncheons at the family's Westchester County Pocantico estate for the world's finance ministers and central bank governors, following the annual Washington meetings of the World Bank and International Monetary Fund.[16] These luncheons were held at the Playhouse. These regular meetings were also attended by the other internationalist in the family, John D. Rockefeller III, until his death in 1978.

    snip

    An early connection he developed in the 1950s was with the Central Intelligence Agency (CIA). As well as knowing Allen Dulles and his brother John Foster Dulles — who was an in-law of the family [18]- since his college years,[19] it was in Room 3603 in Rockefeller Center that Allen Dulles had set up his WWII operational center after Pearl Harbor, liaising closely with MI6 which also had their principal U.S. operation in the Center.[20] He also knew and associated with the former CIA director Richard Helms, as well as Archibald Roosevelt, Jr., a Chase Bank employee and former CIA agent, whose cousin was the CIA agent, Kermit Roosevelt, Jr., involved in the Iran coup of 1953.[21] Also, in 1953, he had befriended William Bundy [Skull and Bones 1939, along with his brother McGeorge, Class of 1940] , a pivotal CIA analyst for nine years in the 1950s, who became the Agency liaison to the National Security Council, and a subsequent lifelong friend.[22] Moreover, in Cary Reich's biography of his brother Nelson, a former CIA agent states that David was extensively briefed on covert intelligence operations by himself and other Agency division chiefs, under the direction of David's "friend and confidant", CIA Director Allen Dulles.[23]

    In November 1979, while chairman of the Chase Bank, Rockefeller became embroiled in an international incident when he and Henry Kissinger, along with John J. McCloy and Rockefeller aides, persuaded President Jimmy Carter through the United States Department of State to admit the Shah of Iran, Mohammad Reza Pahlavi, into the United States for hospital treatment for lymphoma. This action directly precipitated what is known as the Iran hostage crisis and placed Rockefeller under intense media scrutiny (particularly from The New York Times) for the first time in his public life.[24]

    In his extensive world travels, flying from country to country in his private jet, he has met a vast range of world leaders, including Fidel Castro, Nikita Khrushchev, Mikhail Gorbachev and, notably, Saddam Hussein. Other notable figures whom he has counted amongst his personal friends include members of the Rothschild, Henry Ford and Dulles families, along with such high profile individuals as Katharine Graham, of the Washington Post, Brooke Astor, Nelson Mandela and Peter G. Peterson, chairman of the Blackstone Group, who succeeded Rockefeller as chairman of the Council on Foreign Relations in 1985.

    Rockefeller has often hosted visits by foreign dignitaries to New York. One such occasion occurred in 1994 and concerned the visit of the Emperor and Empress of Japan. Rockefeller co-hosted their reception at the Metropolitan Museum of Art with the chairman of the New York Times Company, Arthur Ochs Sulzberger, Jr., who was also chairman of the museum; among the audience were Helmut Schmidt of Germany, Sir Edward Heath of the United Kingdom and Jacques Chirac of France.[25]

    Another prominent American public official with whom Rockefeller has had a longstanding relationship was his brother Nelson's long-time consultant and protege, Henry Kissinger, whose wife, Nancy Kissinger, (née Maginnes) was a former foreign policy aide to his brother. They first met in 1954, when Kissinger was appointed a director of a seminal Council on Foreign Relations study group on nuclear weapons, of which David was a member.[26] The relationship developed to the point that Kissinger was invited to sit on the board of trustees of the Rockefeller Brothers Fund.

    Rockefeller consulted with Kissinger on numerous occasions, as for example in the Chase Bank's interests in Chile and the threat of the election of Salvador Allende in 1970,[27] and fully supported his "opening of China" initiative in 1971 as it afforded banking opportunities for the Chase Bank.[28]

    In 1965, Rockefeller and other senior businessmen formed the Council of the Americas to stimulate and support economic integration in the Americas. The Council subsequently played a key role in the passage of the North American Free Trade Agreement (NAFTA).[29] In 1992, at a Council sponsored forum, Rockefeller proposed a "Western Hemisphere free trade area", which subsequently became the Free Trade Area of the Americas in a Miami summit in 1994. His and the Council's chief liaison to President Bill Clinton in order to garner support for this initiative was through Clinton's chief of staff, Mack McLarty, whose consultancy firm Kissinger McLarty Associates is a corporate member of the Council, while McLarty himself is on the board of directors.[30]
    snip

    Through its roster of blue-chip corporations, Rockefeller sits at the core of a network of the most powerful and influential businessmen and women in corporate America.[32] In 1992, he was selected as a leading member of the Russian-American Bankers Forum, an advisory group set up by the head of the Federal Reserve Bank of New York to advise Russia on the modernization of its banking system, with the full endorsement of President Boris Yeltsin.[33]

    President Jimmy Carter offered him the positions of United States Secretary of the Treasury and Federal Reserve Chairman but he declined both positions, preferring a private role (recommending Volcker instead as Fed Chairman, who was subsequently appointed). Another offer he declined was from his brother Nelson, who offered to appoint him to Robert Kennedy's Senate seat after Kennedy was assassinated in June 1968, a post Nelson also offered to their nephew Jay Rockefeller.[34]

    A lifelong Republican and party contributor, like his father in the dynastic line, he is a committed member of the moderate "Rockefeller Republicans" that arose out of the political ambitions and public policy stance of his brother Nelson. In 2006 he teamed up with former Goldman Sachs executives and others to form a fund-raising group based in Washington, Republicans Who Care, that supported moderate Republican candidates over more ideological contenders.[35]

    A lifelong globalist, due to the strong influence of his father, he had at an early age further spread his connections when he was invited to attend the inaugural elitist Bilderberg Group meetings, starting with the Holland gathering in 1954. He has been a consistent attendee through the decades and has been a member of the "steering committee", which determines the invitation list for the upcoming annual meetings. These have frequently included prominent national figures who have gone on to be elected as political leaders of their respective countries including Bill Clinton who first attended in 1991.

    David Rockefeller joined the Council on Foreign Relations as its youngest-ever director in 1949 and subsequently became chairman of the board from 1970 to 1985; today he serves as honorary chairman.[36]

    In 2002 Rockefeller authored his autobiography “Memoirs” wherein, on page 405, Mr. Rockefeller writes: “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."

    There are innumerable instances of prominent world leaders, kings, sheiks and presidents and other personages visiting Rockefeller at the vast family estate and its central mansion, in addition to visits to his own residence there, "Hudson Pines" — President Ronald Reagan, to give just one example, stayed overnight at the family estate in 1986 (see Kykuit).[41]

    The Kykuit area of the family estate is also the location of The Pocantico Conference Center of the Rockefeller Brothers Fund (RBF) — set up by David and his four brothers and one sister in 1940 — which was created when the Fund leased the area from the National Trust for Historic Preservation in 1991. Known as the Playhouse, it provides a setting where the Fund and other nonprofit organizations and public sector institutions can bring together people of diverse backgrounds and perspectives to engage in critical world issues.[42]...

    The prominent longtime Rockefeller-associated law firm of Milbank, Tweed, Hadley & McCloy (with John J. McCloy being the last named partner), located in the JP Morgan Chase headquarters building at One Chase Manhattan Plaza, has served as the family's longterm private legal advisors (and also serves as legal counsel for the Chase Bank) since the days of David's father. Historically, it has always had one or two senior representatives located within the family office.
    n 2003, he served as "honorary member" of the Jury for the World Trade Center Site Memorial Competition. This was appropriate as he had created and chaired the original Downtown-Lower Manhattan Association in 1960 that had initiated the Center....

    He possesses a famous Rolodex in his office in Room 5600, which he started in the 1940s. It is described as a unique, massive four-foot-by-five-foot gold wheel contraption, containing up to 150,000 entries of the most powerful people in the world.[48]

    His net wealth is estimated at 2.2 billion dollars, ranking him among the 300 richest people in the world.[49]

    Notably, it was over ten years in the writing, with many personal staff in Room 5600 involved, including the family historian who supervised the project, Peter J. Johnson, as well as Fraser P. Seitel, a former head of public affairs at the Chase Bank and one of the premier public relations professionals in America. Seitel is the author of the acclaimed textbook The Practice of Public Relations, and a senior counselor for the leading public relations firm Burson-Marsteller, a division of WPP, one of the world's largest communication services companies.[53]

    Despite its lengthy preparation, Rockefeller's Memoirs has been criticized for what it appears to omit; some critics maintain the book has "unanswered questions" on every page.[54] The full story of his life and ultimate influence cannot be known, as all his papers are held in the Rockefeller Archive Center at Kykuit and are not currently open to researchers or historians.[55]

    Rockefeller donated $100 million to Harvard University in 2008.[56]


    Links at the David Rockefeller entry at Wikipedia:

    The "Proud Internationalist": The Globalist Vision of David Rockefeller This research paper by Will Banyan (pdf, 88 pages, 2006) contains an extensively annotated overview of his life, political involvement and promotion of the New World Order.

    Rockefeller Internationalism Nexus Magazine 6 Part series on the Rockefeller family and the New World Order, by Will Banyan, 2002, 2003.


    *** **** ***

    Henry Kissinger was born Heinz Alfred Kissinger in Fürth, Bavaria, Germany during the Weimar Republic to a family of German Jews. ... Kissinger underwent basic training at Camp Croft in Spartanburg, South Carolina, where he was naturalized upon arrival. The Army sent him to study engineering at Lafayette College, Pennsylvania, but the program was cancelled, and Kissinger was reassigned to the 84th Infantry Division. There, he made the acquaintance of Fritz Kraemer, a fellow immigrant from Germany who despite the age difference, noted Kissinger's fluency in German and his intellect, arranged for him to be assigned to the military intelligence section of the division. Kissinger saw combat with the division, and volunteered for hazardous intelligence duties during the Battle of the Bulge.[11]

    During the American advance into Germany, Kissinger was assigned to de-Nazify the city of Krefeld, owing to a lack of German speakers on the division's intelligence staff. Kissinger relied on his knowledge of German society to remove the obvious Nazis and restore a working civilian administration, a task he accomplished in 8 days.[12] Kissinger was then reassigned to the Counter Intelligence Corps, with the rank of Sergeant. He was given charge of a team in Hanover assigned to tracking down Gestapo officers and other saboteurs, for which he was awarded the Bronze Star.[13] In June 1945, Kissinger was made commandant of a CIC detachment in the Bergstraße district of Hesse, with responsibility for de-Nazification of the district. ... In 1946, Kissinger was reassigned to teach at the European Command Intelligence School at Camp King. In 1952, while still at Harvard, he served as a consultant to the Director of the Psychological Strategy Board.[18] His doctoral dissertation was titled "Peace, Legitimacy, and the Equilibrium (A Study of the Statesmanship of Castlereagh and Metternich)." [Note that this is about the role of the Rothschild family in the Congress of Vienna.]

    Kissinger remained at Harvard as a member of the faculty in the Department of Government and at the Center for International Affairs. He became Associate Director of the latter in 1957. In 1955, he was a consultant to the National Security Council's Operations Coordinating Board.[18] During 1955 and 1956, he was also Study Director in Nuclear Weapons and Foreign Policy at the Council on Foreign Relations. He released his book Nuclear Weapons and Foreign Policy the following year.[19] From 1956 to 1958 he worked for the Rockefeller Brothers Fund as director of its Special Studies Project.[18] He was Director of the Harvard Defense Studies Program between 1958 and 1971. He was also Director of the Harvard International Seminar between 1951 and 1971. Outside of academia, he served as a consultant to several government agencies, including the Operations Research Office, the Arms Control and Disarmament Agency, and the Department of State, and the Rand Corporation, a think-tank.[18]

    Keen to have a greater influence on US foreign policy, Kissinger became a supporter of, and advisor to, Nelson Rockefeller, Governor of New York, who sought the Republican nomination for President in 1960, 1964 and 1968.[20] After Richard Nixon won the presidency in 1968, he made Kissinger National Security Advisor.

    http://en.wikipedia.org/wiki/Henry_Kissinger

  4. Default The Federal Reserve Cartel

    Emphasis in the below text is mine.

    The Federal Reserve Cartel: The Eight Families

    by Dean Henderson


    The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch.

    According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1]
    So who then are the stockholders in these money center banks?

    This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the top 25 US bank holding companies were given Freedom of Information Act status, before being denied on “national security” grounds. This is rather ironic, since many of the bank’s stockholders reside in Europe.

    One important repository for the wealth of the global oligarchy that owns these bank holding companies is US Trust Corporation - founded in 1853 and now owned by Bank of America. A recent US Trust Corporate Director and Honorary Trustee was Walter Rothschild. Other directors included Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil, Daniel Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. [2]

    J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of the New York Federal Reserve Bank- by far the most powerful Fed branch- by just eight families, four of which reside in the US. They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.

    CPA Thomas D. Schauf corroborates McCallister’s claims, adding that ten banks control all twelve Federal Reserve Bank branches. He names N.M. Rothschild of London, Rothschild Bank of Berlin, Warburg Bank of Hamburg, Warburg Bank of Amsterdam, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Bank of Italy, Goldman Sachs of New York and JP Morgan Chase Bank of New York. Schauf lists William Rockefeller, Paul Warburg, Jacob Schiff and James Stillman as individuals who own large shares of the Fed. [3] The Schiffs are insiders at Kuhn Loeb. The Stillmans are Citigroup insiders, who married into the Rockefeller clan at the turn of the century.

    Eustace Mullins came to the same conclusions in his book The Secrets of the Federal Reserve, in which he displays charts connecting the Fed and its member banks to the families of Rothschild, Warburg, Rockefeller and the others. [4]
    The control that these banking families exert over the global economy cannot be overstated and is quite intentionally shrouded in secrecy. Their corporate media arm is quick to discredit any information exposing this private central banking cartel as “conspiracy theory”. Yet the facts remain.

    The House of Morgan

    The Federal Reserve Bank was born in 1913, the same year US banking scion J. Pierpont Morgan died and the Rockefeller Foundation was formed. The House of Morgan presided over American finance from the corner of Wall Street and Broad, acting as quasi-US central bank since 1838, when George Peabody founded it in London.

    Peabody was a business associate of the Rothschilds. In 1952 Fed researcher Eustace Mullins put forth the supposition that the Morgans were nothing more than Rothschild agents. Mullins wrote that the Rothschilds, “…preferred to operate anonymously in the US behind the facade of J.P. Morgan & Company”. [5]
    Author Gabriel Kolko stated, “Morgan’s activities in 1895-1896 in selling US gold bonds in Europe were based on an alliance with the House of Rothschild.” [6]
    The Morgan financial octopus wrapped its tentacles quickly around the globe. Morgan Grenfell operated in London. Morgan et Ce ruled Paris. The Rothschild's Lambert cousins set up Drexel & Company in Philadelphia.

    The House of Morgan catered to the Astors, DuPonts, Guggenheims, Vanderbilts and Rockefellers. It financed the launch of AT&T, General Motors, General Electric and DuPont. Like the London-based Rothschild and Barings banks, Morgan became part of the power structure in many countries.

    By 1890 the House of Morgan was lending to Egypt’s central bank, financing Russian railroads, floating Brazilian provincial government bonds and funding Argentine public works projects. A recession in 1893 enhanced Morgan’s power. That year Morgan saved the US government from a bank panic, forming a syndicate to prop up government reserves with a shipment of $62 million worth of Rothschild gold. [7]

    Morgan was the driving force behind Western expansion in the US, financing and controlling West-bound railroads through voting trusts. In 1879 Cornelius Vanderbilt’s Morgan-financed New York Central Railroad gave preferential shipping rates to John D. Rockefeller’s budding Standard Oil monopoly, cementing the Rockefeller/Morgan relationship.

    The House of Morgan now fell under Rothschild and Rockefeller family control. A New York Herald headline read, “Railroad Kings Form Gigantic Trust”. J. Pierpont Morgan, who once stated, “Competition is a sin”, now opined gleefully, “Think of it. All competing railroad traffic west of St. Louis placed in the control of about thirty men.”[8]

    Morgan and Edward Harriman’s banker Kuhn Loeb held a monopoly over the railroads, while banking dynasties Lehman, Goldman Sachs and Lazard joined the Rockefellers in controlling the US industrial base. [9]

    In 1903 Banker’s Trust was set up by the Eight Families. Benjamin Strong of Banker’s Trust was the first Governor of the New York Federal Reserve Bank. The 1913 creation of the Fed fused the power of the Eight Families to the military and diplomatic might of the US government. If their overseas loans went unpaid, the oligarchs could now deploy US Marines to collect the debts. Morgan, Chase and Citibank formed an international lending syndicate.

    The House of Morgan was cozy with the British House of Windsor and the Italian House of Savoy. The Kuhn Loebs, Warburgs, Lehmans, Lazards, Israel Moses Seifs and Goldman Sachs also had close ties to European royalty. By 1895 Morgan controlled the flow of gold in and out of the US. The first American wave of mergers was in its infancy and was being promoted by the bankers. In 1897 there were sixty-nine industrial mergers. By 1899 there were twelve-hundred. In 1904 John Moody - founder of Moody’s Investor Services - said it was impossible to talk of Rockefeller and Morgan interests as separate. [10]

    Public distrust of the combine spread. Many considered them traitors working for European old money. Rockefeller’s Standard Oil, Andrew Carnegie’s US Steel and Edward Harriman’s railroads were all financed by banker Jacob Schiff at Kuhn Loeb, who worked closely with the European Rothschilds.

    Several Western states banned the bankers. Populist preacher William Jennings Bryan was thrice the Democratic nominee for President from 1896 -1908. The central theme of his anti-imperialist campaign was that America was falling into a trap of “financial servitude to British capital”. Teddy Roosevelt defeated Bryan in 1908, but was forced by this spreading populist wildfire to enact the Sherman Anti-Trust Act. He then went after the Standard Oil Trust.

    In 1912 the Pujo hearings were held, addressing concentration of power on Wall Street. That same year Mrs. Edward Harriman sold her substantial shares in New York’s Guaranty Trust Bank to J.P. Morgan, creating Morgan Guaranty Trust. Judge Louis Brandeis convinced President Woodrow Wilson to call for an end to interlocking board directorates. In 1914 the Clayton Anti-Trust Act was passed.
    Jack Morgan - J. Pierpont’s son and successor - responded by calling on Morgan clients Remington and Winchester to increase arms production. He argued that the US needed to enter WWI. Goaded by the Carnegie Foundation and other oligarchy fronts, Wilson accommodated. As Charles Tansill wrote in America Goes to War, “Even before the clash of arms, the French firm of Rothschild Freres cabled to Morgan & Company in New York suggesting the flotation of a loan of $100 million, a substantial part of which was to be left in the US to pay for French purchases of American goods.”

    The House of Morgan financed half the US war effort, while receiving commissions for lining up contractors like GE, Du Pont, US Steel, Kennecott and ASARCO. All were Morgan clients. Morgan also financed the British Boer War in South Africa and the Franco-Prussian War. The 1919 Paris Peace Conference was presided over by Morgan, which led both German and Allied reconstruction efforts. [11]

    In the 1930’s populism resurfaced in America after Goldman Sachs, Lehman Bank and others profited from the Crash of 1929. [12] House Banking Committee Chairman Louis McFadden (D-NY) said of the Great Depression, “It was no accident. It was a carefully contrived occurrence...The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all”.

    Sen. Gerald Nye (D-ND) chaired a munitions investigation in 1936. Nye concluded that the House of Morgan had plunged the US into WWI to protect loans and create a booming arms industry. Nye later produced a document titled The Next War, which cynically referred to “the old goddess of democracy trick”, through which Japan could be used to lure the US into WWII.

    In 1937 Interior Secretary Harold Ickes warned of the influence of “America’s 60 Families”. Historian Ferdinand Lundberg later penned a book of the exact same title. Supreme Court Justice William O. Douglas decried, “Morgan influence...the most pernicious one in industry and finance today.”

    Jack Morgan responded by nudging the US towards WWII. Morgan had close relations with the Iwasaki and Dan families - Japan’s two wealthiest clans - who have owned Mitsubishi and Mitsui, respectively, since the companies emerged from 17th Century shogunates. When Japan invaded Manchuria, slaughtering Chinese peasants at Nanking, Morgan downplayed the incident. Morgan also had close relations with Italian fascist Benito Mussolini, while German Nazi Dr. Hjalmer Schacht was a Morgan Bank liaison during WWII. After the war Morgan representatives met with Schacht at the Bank of International Settlements (BIS) in Basel, Switzerland. [13]

    The House of Rockefeller

    BIS is the most powerful bank in the world, a global central bank for the Eight Families who control the private central banks of almost all Western and developing nations. The first President of BIS was Rockefeller banker Gates McGarrah- an official at Chase Manhattan and the Federal Reserve. McGarrah was the grandfather of former CIA director Richard Helms. The Rockefellers- like the Morgans- had close ties to London. David Icke writes in Children of the Matrix, that the Rockefellers and Morgans were just “gofers” for the European Rothschilds. [14]
    BIS is owned by the Federal Reserve, Bank of England, Bank of Italy, Bank of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank and Bank of France.

    Historian Carroll Quigley wrote in his epic book Tragedy and Hope that BIS was part of a plan, “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...to be controlled in a feudalistic fashion by the central banks of the world acting in concert by secret agreements.”

    The US government had a historical distrust of BIS, lobbying unsuccessfully for its demise at the 1944 post-WWII Bretton Woods Conference. Instead the Eight Families’ power was exacerbated, with the Bretton Woods creation of the IMF and the World Bank. The US Federal Reserve only took shares in BIS in September 1994. [15]

    BIS holds at least 10% of monetary reserves for at least 80 of the world’s central banks, the IMF and other multilateral institutions. It serves as financial agent for international agreements, collects information on the global economy and serves as lender of last resort to prevent global financial collapse.

    BIS promotes an agenda of monopoly capitalist fascism. It gave a bridge loan to Hungary in the 1990’s to ensure privatization of that country’s economy. It served as conduit for Eight Families funding of Adolf Hitler- led by the Warburg's J. Henry Schroeder and Mendelsohn Bank of Amsterdam. Many researchers assert that BIS is at the nadir of global drug money laundering. [16]

    It is no coincidence that BIS is headquartered in Switzerland, favorite hiding place for the wealth of the global aristocracy and headquarters for the P-2 Italian Freemason’s Alpina Lodge and Nazi International. Other institutions which the Eight Families control include the World Economic Forum, the International Monetary Conference and the World Trade Organization.

    Bretton Woods was a boon to the Eight Families. The IMF and World Bank were central to this “new world order”. In 1944 the first World Bank bonds were floated by Morgan Stanley and First Boston. The French Lazard family became more involved in House of Morgan interests. Lazard Freres- France’s biggest investment bank- is owned by the Lazard and David-Weill families- old Genoese banking scions represented by Michelle Davive. A recent Chairman and CEO of Citigroup was Sanford Weill.

    In 1968 Morgan Guaranty launched Euro-Clear, a Brussels-based bank clearing system for Eurodollar securities. It was the first such automated endeavor. Some took to calling Euro-Clear “The Beast”. Brussels serves as headquarters for the new European Central Bank and for NATO. In 1973 Morgan officials met secretly in Bermuda to illegally resurrect the old House of Morgan, twenty years before Glass Steagal Act was repealed. Morgan and the Rockefellers provided the financial backing for Merrill Lynch, boosting it into the Big 5 of US investment banking. Merrill is now part of Bank of America.

    John D. Rockefeller used his oil wealth to acquire Equitable Trust, which had gobbled up several large banks and corporations by the 1920’s. The Great Depression helped consolidate Rockefeller’s power. His Chase Bank merged with Kuhn Loeb’s Manhattan Bank to form Chase Manhattan, cementing a long-time family relationship. The Kuhn-Loeb’s had financed - along with Rothschilds - Rockefeller's quest to become king of the oil patch. National City Bank of Cleveland provided John D. with the money needed to embark upon his monopolization of the US oil industry. The bank was identified in Congressional hearings as being one of three Rothschild-owned banks in the US during the 1870’s, when Rockefeller first incorporated as Standard Oil of Ohio. [17]

    One Rockefeller Standard Oil partner was Edward Harkness, whose family came to control Chemical Bank. Another was James Stillman, whose family controlled Manufacturers Hanover Trust. Both banks have merged under the JP Morgan Chase umbrella. Two of James Stillman’s daughters married two of William Rockefeller’s sons. The two families control a big chunk of Citigroup as well. [18]

    In the insurance business, the Rockefellers control Metropolitan Life, Equitable Life, Prudential and New York Life. Rockefeller banks control 25% of all assets of the 50 largest US commercial banks and 30% of all assets of the 50 largest insurance companies. [19] Insurance companies- the first in the US was launched by Freemasons through their Woodman’s of America- play a key role in the Bermuda drug money shuffle.

    Companies under Rockefeller control include Exxon Mobil, Chevron Texaco, BP Amoco, Marathon Oil, Freeport McMoran, Quaker Oats, ASARCO, United, Delta, Northwest, ITT, International Harvester, Xerox, Boeing, Westinghouse, Hewlett-Packard, Honeywell, International Paper, Pfizer, Motorola, Monsanto, Union Carbide and General Foods.

    The Rockefeller Foundation has close financial ties to both Ford and Carnegie Foundations. Other family philanthropic endeavors include Rockefeller Brothers Fund, Rockefeller Institute for Medical Research, General Education Board, Rockefeller University and the University of Chicago- which churns out a steady stream of far right economists as apologists for international capital, including Milton Friedman.

    The family owns 30 Rockefeller Plaza, where the national Christmas tree is lighted every year, and Rockefeller Center. David Rockefeller was instrumental in the construction of the World Trade Center towers. The main Rockefeller family home is a hulking complex in upstate New York known as Pocantico Hills. They also own a 32-room 5th Avenue duplex in Manhattan, a mansion in Washington, DC, Monte Sacro Ranch in Venezuela, coffee plantations in Ecuador, several farms in Brazil, an estate at Seal Harbor, Maine and resorts in the Caribbean, Hawaii and Puerto Rico. [20]

    The Dulles and Rockefeller families are cousins. Allen Dulles created the CIA, assisted the Nazis, covered up the Kennedy hit from his Warren Commission perch and struck a deal with the Muslim Brotherhood to create mind-controlled assassins. [21]

    Brother John Foster Dulles presided over the phony Goldman Sachs trusts before the 1929 stock market crash and helped his brother overthrow governments in Iran and Guatemala. Both were Skull & Bones, Council on Foreign Relations (CFR) insiders and 33rd Degree Masons. [22]

    The Rockefellers were instrumental in forming the depopulation-oriented Club of Rome at their family estate in Bellagio, Italy. Their Pocantico Hills estate gave birth to the Trilateral Commission. The family is a major funder of the eugenics movement which spawned Hitler, human cloning and the current DNA obsession in US scientific circles.

    John Rockefeller Jr. headed the Population Council until his death. [23] His namesake son is a Senator from West Virginia. Brother Winthrop Rockefeller was Lieutenant Governor of Arkansas and remains the most powerful man in that state. In an October 1975 interview with Playboy magazine, Vice-President Nelson Rockefeller- who was also Governor of New York- articulated his family's patronizing worldview, “I am a great believer in planning- economic, social, political, military, total world planning.”

    But of all the Rockefeller brothers, it is Trilateral Commission (TC) founder and Chase Manhattan Chairman David who has spearheaded the family’s fascist agenda on a global scale. He defended the Shah of Iran, the South African apartheid regime and the Chilean Pinochet junta. He was the biggest financier of the CFR, the TC and (during the Vietnam War) the Committee for an Effective and Durable Peace in Asia- a contract bonanza for those who made their living off the conflict.
    Nixon asked him to be Secretary of Treasury, but Rockefeller declined the job, knowing his power was much greater at the helm of the Chase. Author Gary Allen writes in The Rockefeller File that in 1973, “David Rockefeller met with twenty-seven heads of state, including the rulers of Russia and Red China.”
    Following the 1975 Nugan Hand Bank/CIA coup against Australian Prime Minister Gough Whitlam, his British Crown-appointed successor Malcolm Fraser sped to the US, where he met with President Gerald Ford after conferring with David Rockefeller. [24]

    Notes

    [1] 10K Filings of Fortune 500 Corporations to SEC. 3-91
    [2] 10K Filing of US Trust Corporation to SEC. 6-28-95
    [3] “The Federal Reserve ‘Fed Up’. Thomas Schauf. www.davidicke.com 1-02
    [4] The Secrets of the Federal Reserve. Eustace Mullins. Bankers Research Institute. Staunton, VA. 1983. p.179
    [5] Ibid. p.53
    [6] The Triumph of Conservatism. Gabriel Kolko. MacMillan and Company New York. 1963. p.142
    [7] Rule by Secrecy: The Hidden History that Connects the Trilateral Commission, the Freemasons and the Great Pyramids. Jim Marrs. HarperCollins Publishers. New York. 2000. p.57
    [8] The House of Morgan. Ron Chernow. Atlantic Monthly Press NewYork 1990
    [9] Marrs. p.57
    [10] Democracy for the Few. Michael Parenti. St. Martin’s Press. New York. 1977. p.178
    [11] Chernow
    [12] The Great Crash of 1929. John Kenneth Galbraith. Houghton, Mifflin Company. Boston. 1979. p.148
    [13] Chernow
    [14] Children of the Matrix. David Icke. Bridge of Love. Scottsdale, AZ. 2000
    [15] The Confidence Game: How Un-Elected Central Bankers are Governing the Changed World Economy. Steven Solomon. Simon & Schuster. New York. 1995. p.112
    [16] Marrs. p.180
    [17] Ibid. p.45
    [18] The Money Lenders: The People and Politics of the World Banking Crisis. Anthony Sampson. Penguin Books. New York. 1981
    [19] The Rockefeller File. Gary Allen. ’76 Press. Seal Beach, CA. 1977
    [20] Ibid
    [21] Dope Inc.: The Book That Drove Kissinger Crazy. Editors of Executive Intelligence Review. Washington, DC. 1992
    [22] Marrs.
    [23] The Rockefeller Syndrome. Ferdinand Lundberg. Lyle Stuart Inc. Secaucus, NJ. 1975. p.296
    [24] Marrs. p.53
    Dean Henderson is the author of Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network and The Grateful Unrich: Revolution in 50 Countries. His Left Hook blog is at www.deanhenderson.wordpress.com


    Dean Henderson is a frequent contributor to Global Research. Global Research Articles by Dean Henderson
    Last edited by James Lewis; 08-20-2011 at 03:41 PM.
    "Logic is all there is, and all there is must be logical."

    "Truth is logic, and logic is truth."

    "In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely." - Hunter S. Thompson

    "A paranoid is someone who knows a little of what's going on. A psychotic is a guy who's just found out what's going on." - William S. Burroughs

  5. Default

    THE POST SAYS:
    Nixon asked him to be Secretary of Treasury, but Rockefeller declined the job, knowing his power was much greater at the helm of the Chase. Author Gary Allen writes in The Rockefeller File that in 1973, “David Rockefeller met with twenty-seven heads of state, including the rulers of Russia and Red China.”
    Following the 1975 Nugan Hand Bank/CIA coup against Australian Prime Minister Gough Whitlam, his British Crown-appointed successor Malcolm Fraser sped to the US, where he met with President Gerald Ford after conferring with David Rockefeller. [24]

    I say, Gary Allen, hard core member of the John Birch Society (CIA front) is used to implicate Marxism as the hidden agenda of Rockefeller and Europe's private powerful banks. This diverts attention to the S.U., China, Cuba, N.K. & the rest of the socialist block as the origins of this conspiracy when in fact it is capitalism itself run by the world fascist banking system that is the culprit.

  6. Default

    Gary, I believe that's my point in a nutshell.
    "Logic is all there is, and all there is must be logical."

    "Truth is logic, and logic is truth."

    "In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely." - Hunter S. Thompson

    "A paranoid is someone who knows a little of what's going on. A psychotic is a guy who's just found out what's going on." - William S. Burroughs

  7. Default

    Good, but isn't it odd that Global Research author Dean Henderson uses CIA asset Gary Allen as a source being Gary Allen is an anti-communist.

  8. Default

    That's true, but don't forget that a lot of these "anti-communists" in the John Birch Society and elsewhere got their start in military intelligence.

    Quote Originally Posted by Gary Severson View Post
    Good, but isn't it odd that Global Research author Dean Henderson uses CIA asset Gary Allen as a source being Gary Allen is an anti-communist.
    "Logic is all there is, and all there is must be logical."

    "Truth is logic, and logic is truth."

    "In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely." - Hunter S. Thompson

    "A paranoid is someone who knows a little of what's going on. A psychotic is a guy who's just found out what's going on." - William S. Burroughs

  9. #49

    Default Robert Wenzel's 'David' Speech Crushes Federal Reserve's 'Goliath' Dream

    Robert Wenzel's 'David' Speech Crushes Federal Reserve's 'Goliath' Dream


    Submitted by Tyler Durden on 04/27/2012 16:08 -0400


    In perhaps the most courageous (and likely must-read for future economists) speech ever given inside the New York Fed'sshallowed hallowed walls, Economic Policy Journal's Robert Wenzel delivered the truth, the whole truth, and nothing but the truth to the monetary priesthood. Gracious from the start, Wenzel takes the Keynesian clap-trappers to task on almost every nonsensical and oblivious decision they have made in recent years.
    "My views, I suspect, differ from beginning to end... I stand here confused as to how you see the world so differently than I do. I simply do not understand most of the thinking that goes on here at the Fed and I do not understand how this thinking can go on when in my view it smacks up against reality."
    and further...
    "I scratch my head that somehow your conclusions about unemployment are so different than mine and that you call for the printing of money to boost 'demand'. A call, I add, that since the founding of the Federal Reserve has resulted in an increase of the money supply by 12,230%."
    But his closing was tremendous:
    "Let’s have one good meal here. Let’s make it a feast. Then I ask you, I plead with you, I beg you all, walk out of here with me, never to come back. It’s the moral and ethical thing to do. Nothing good goes on in this place. Let’s lock the doors and leave the building to the spiders, moths and four-legged rats."
    The Full Speech is below:
    Thank you very much for inviting me to speak here at the New York Federal Reserve Bank.

    Intellectual discourse is, of course, extraordinarily valuable in reaching truth. In this sense, I welcome the opportunity to discuss my views on the economy and monetary policy and how they may differ with those of you here at the Fed.

    That said, I suspect my views are so different from those of you here today that my comments will be a complete failure in convincing you to do what I believe should be done, which is to close down the entire Federal Reserve System

    My views, I suspect, differ from beginning to end.From the proper methodology to be used in the science of economics, to the manner in which the macro-economy functions, to the role of the Federal Reserve, and to the accomplishments of the Federal Reserve, I stand here confused as to how you see the world so differently than I do.

    I simply do not understand most of the thinking that goes on here at the Fed and I do not understand how this thinking can go on when in my view it smacks up against reality.

    Please allow me to begin with methodology, I hold the view developed by such great economic thinkers as Ludwig von Mises, Friedrich Hayek and Murray Rothbard that there are no constants in the science of economics similar to those in the physical sciences.

    In the science of physics, we know that water freezes at 32 degrees. We can predict with immense accuracy exactly how far a rocket ship will travel filled with 500 gallons of fuel. There is preciseness because there are constants, which do not change and upon which equations can be constructed.

    There are no such constants in the field of economics since the science of economics deals with human action, which can change at any time. If potato prices remain the same for 10 weeks, it does not mean they will be the same the following day. I defy anyone in this room to provide me with a constant in the field of economics that has the same unchanging constancy that exists in the fields of physics or chemistry.

    And yet, in paper after paper here at the Federal Reserve, I see equations built as though constants do exist. It is as if one were to assume a constant relationship existed between interest rates here and in Russia and throughout the world, and create equations based on this belief and then attempt to trade based on these equations. That was tried and the result was the blow up of the fund Long Term Capital Management, a blow up that resulted in high level meetings in this very building.

    It is as if traders assumed a given default rate was constant for subprime mortgage paper and traded on that belief. Only to see it blow up in their faces, as it did, again, with intense meetings being held in this very building.

    Yet, the equations, assuming constants, continue to be published in papers throughout the Fed system. I scratch my head.

    I also find curious the general belief in the Keynesian model of the economy that somehow results in the belief that demand drives the economy, rather than production. I look out at the world and see iPhones, iPads, microwave ovens, flat screen televisions, which suggest to me that it is production that boosts an economy. Without production of these things and millions of other items, where would we be? Yet, the Keynesians in this room will reply, “But you need demand to buy these products.” And I will reply, “Do you not believe in supply and demand? Do you not believe that products once made will adjust to a market clearing price?”

    Further , I will argue that the price of the factors of production will adjust to prices at the consumer level and that thus the markets at all levels will clear. Again do you believe in supply and demand or not?

    I scratch my head that somehow most of you on some academic level believe in the theory of supply and demand and how market setting prices result, but yet you deny them in your macro thinking about the economy.

    You will argue with me that prices are sticky on the downside, especially labor prices and therefore that you must pump money to get the economy going. And, I will look on in amazement as your fellow Keynesian brethren in the government create an environment of sticky non-downward bending wages.

    The economist Robert Murphy reports that President Herbert Hoover continually pressured businessmen to not lower wages.

    He quoted Hoover in a speech delivered to a group of businessmen:

    In this country there has been a concerted and determined effort on the part of government and business... to prevent any reduction in wages.

    He then reports that FDR actually outdid Hoover by seeking to “raise wages rates rather than merely put a floor under them.”

    I ask you, with presidents actively conducting policies that attempt to defy supply and demand and prop up wages, are you really surprised that wages were sticky downward during the Great Depression?

    In present day America, the government focus has changed a bit. In the new focus, the government attempts much more to prop up the unemployed by extended payments for not working. Is it really a surprise that unemployment is so high when you pay people not to work.? The 2010 Nobel Prize was awarded to economists for their studies which showed that, and I quote from the Noble press release announcing the award:

    One conclusion is that more generous unemployment benefits give rise to higher unemployment and longer search times.

    Don’t you think it would make more sense to stop these policies which are a direct factor in causing unemployment, than to add to the mess and devalue the currency by printing more money?

    I scratch my head that somehow your conclusions about unemployment are so different than mine and that you call for the printing of money to boost “demand”. A call, I add, that since the founding of the Federal Reserve has resulted in an increase of the money supply by 12,230%.

    I also must scratch my head at the view that the Federal Reserve should maintain a stable price level. What is wrong with having falling prices across the economy, like we now have in the computer sector, the flat screen television sector and the cell phone sector? Why, I ask, do you want stable prices? And, oh by the way, how’s that stable price thing going for you here at the Fed?

    Since the start of the Fed, prices have increased at the consumer level by 2,241% [3]. that’s not me misspeaking, I will repeat, since the start of the Fed, prices have increased at the consumer level by 2,241%.

    So you then might tell me that stable prices are only a secondary goal of the Federal Reserve and that your real goal is to prevent serious declines in the economy but, since the start of the Fed, there have been 18 recessions including the Great Depression and the most recent Great Recession. These downturns have resulted in stock market crashes, tens of millions of unemployed and untold business bankruptcies.

    I scratch my head and wonder how you think the Fed is any type of success when all this has occurred.

    I am especially confused, since Austrian business cycle theory (ABCT), developed by Mises, Hayek and Rothbard, has warned about all these things. According to ABCT, it is central bank money printing that causes the business cycle and, again you here at the Fed have certainly done that by increasing the money supply. Can you imagine the distortions in the economy caused by the Fed by this massive money printing?

    According to ABCT, if you print money those sectors where the money goes will boom, stop printing and those sectors will crash. Fed printing tends to find its way to Wall Street and other capital goods sectors first, thus it is no surprise to Austrian school economists that the crashes are most dramatic in these sectors, such as the stock market and real estate sectors. The economist Murray Rothbard in his book America’s Great Depression [4] went into painstaking detail outlining how the changes in money supply growth resulted in the Great Depression.

    On a more personal level, as the recent crisis was developing here, I warned throughout the summer of 2008 of the impending crisis. On July 11, 2008 at EconomicPolicyJournal.com, I wrote:

    SUPER ALERT: Dramatic Slowdown In Money Supply Growth

    After growing at near double digit rates for months, money growth has slowed dramatically. Annualized money growth over the last 3 months is only 5.2%. Over the last two months, there has been zero growth in the M2NSA money measure.

    This is something that must be watched carefully. If such a dramatic slowdown continues, a severe recession is inevitable.

    We have never seen such a dramatic change in money supply growth from a double digit climb to 5% growth. Does Bernanke have any clue as to what the hell he is doing?

    On July 20, 2008, I wrote:

    I have previously noted that over the last two months money supply has been collapsing. M2NSA has gone from double digit growth to nearly zero growth.

    A review of the credit situation appears worse. According to recent Fed data, for the 13 weeks ended June 25, bank credit (securities and loans) contracted at an annual rate of 7.9%.

    There has been a minor blip up since June 25 in both credit growth and M2NSA, but the growth rates remain extremely slow.

    If a dramatic turnaround in these numbers doesn't happen within the next few weeks, we are going to have to warn of a possible Great Depression style downturn.

    Yet, just weeks before these warnings from me, Chairman Bernanke, while the money supply growth was crashing, had a decidedly much more optimistic outlook, In a speech on June 9, 2008, At the Federal Reserve Bank of Boston’s 53rd Annual Economic Conference [7], he said:

    I would like to provide a brief update on the outlook for the economy and policy, beginning with the prospects for growth. Despite the unwelcome rise in the unemployment rate that was reported last week, the recent incoming data, taken as a whole, have affected the outlook for economic activity and employment only modestly. Indeed, although activity during the current quarter is likely to be weak, the risk that the economy has entered a substantial downturn appears to have diminished over the past month or so. Over the remainder of 2008, the effects of monetary and fiscal stimulus, a gradual ebbing of the drag from residential construction, further progress in the repair of financial and credit markets, and still-solid demand from abroad should provide some offset to the headwinds that still face the economy.

    I believe the Great Recession that followed is still fresh enough in our minds so it is not necessary to recount in detail as to whose forecast, mine or the chairman’s, was more accurate.

    I am also confused by many other policy making steps here at the Federal Reserve. There have been more changes in monetary policy direction during the Bernanke era then at any other time in the modern era of the Fed. Not under Arthur Burns, not under G. William Miller, not under Paul Volcker, not under Alan Greenspan have there been so many dramatically shifting Fed monetary policy moves. Under Chairman Bernanke there have been significant changes in direction of the money supply growth FIVE different times. Thus, for me, I am not at all surprised at the current stop and go economy. The current erratic monetary policy makes it exceedingly difficult for businessmen to make any long term plans. Indeed, in my own Daily Alert on the economy [8] I find it extremely difficult to give long term advice, when in short periods I have seen three month annualized M2 money growth go from near 20% to near zero, and then in another period see it go from 25% to 6%.

    I am also confused by many of the monetary programs instituted by Chairman Bernanke. For example, Operation Twist.

    This is not the first time an Operation Twist was tried. an Operation Twist was tried in 1961, at the start of the Kennedy Administration [10] A paper [11] was written by three Federal Reserve economists in 2004 that, in part, examined the 1960's Operation Twist

    Their conclusion (My bold):

    A second well-known historical episode involving the attempted manipulation of the term structure was so-called Operation Twist. Launched in early 1961 by the incoming Kennedy Administration, Operation Twist was intended to raise short-term rates (thereby promoting capital inflows and supporting the dollar) while lowering, or at least not raising, long-term rates. (Modigliani and Sutch 1966).... The two main actions of Operation Twist were the use of Federal Reserve open market operations and Treasury debt management operations..Operation Twist is widely viewed today as having been a failure, largely due to classic work by Modigliani and Sutch....

    However, Modigliani and Sutch also noted that Operation Twist was a relatively small operation, and, indeed, that over a slightly longer period the maturity of outstanding government debt rose significantly, rather than falling...Thus, Operation Twist does not seem to provide strong evidence in either direction as to the possible effects of changes in the composition of the central bank’s balance sheet...

    We believe that our findings go some way to refuting the strong hypothesis that nonstandard policy actions, including quantitative easing and targeted asset purchases, cannot be successful in a modern industrial economy. However, the effects of such policies remain quantitatively quite uncertain.

    One of the authors of this 2004 paper was Federal Reserve Chairman Bernanke. Thus, I have to ask, what the hell is Chairman Bernanke doing implementing such a program, since it is his paper that states it was a failure according to Modigliani, and his paper implies that a larger test would be required to determine true performance.

    I ask, is the Chairman using the United States economy as a lab with Americans as the lab rats to test his intellectual curiosity about such things as Operation Twist?

    Further, I am very confused by the response of Chairman Bernanke to questioning by Congressman Ron Paul. To a seemingly near off the cuff question by Congressman Paul on Federal Reserve money provided to the Watergate burglars, Chairman Bernanke contacted the Inspector General’s Office of the Federal Reserve and requested an investigation [12]. Yet, the congressman has regularly asked about the gold certificates held by the Federal Reserve [13] and whether the gold at Fort Knox backing up the certificates will be audited. Yet there have been no requests by the Chairman to the Treasury for an audit of the gold.This I find very odd. The Chairman calls for a major investigation of what can only be an historical point of interest but fails to seek out any confirmation on a point that would be of vital interest to many present day Americans.

    In this very building, deep in the underground vaults, sits billions of dollars of gold, held by the Federal Reserve for foreign governments. The Federal Reserve gives regular tours of these vaults, even to school children. [14] Yet, America’s gold is off limits to seemingly everyone and has never been properly audited. Doesn’t that seem odd to you? If nothing else, does anyone at the Fed know the quality and fineness of the gold at Fort Knox?

    In conclusion, it is my belief that from start to finish the Fed is a failure. I believe faulty methodology is used, I believe that the justification for the Fed, to bring price and economic stability, has never been a success. I repeat, prices since the start of the Fed have climbed by 2,241% and there have been over the same period 18 recessions. No one seems to care at the Fed about the gold supposedly backing up the gold certificates on the Fed balance sheet. The emperor has no clothes. Austrian Business cycle theorists are regularly ignored by the Fed, yet they have the best records with regard to spotting overall downturns, and further they specifically recognized the developing housing bubble. Let it not be forgotten that in 2004, two economists here at the New York Fed wrote a paper [15] denying there was a housing bubble. I responded to the paper [16] and wrote:

    The faulty analysis by [these] Federal Reserve economists... may go down in financial history as the greatest forecasting error since Irving Fisher declared in 1929, just prior to the stock market crash, that stocks prices looked to be at a permanently high plateau.

    Data released just yesterday, now show housing prices have crashed to 2002 levels.

    I will now give you more warnings about the economy.

    The noose is tightening on your organization, vast amounts of money printing are now required to keep your manipulated economy afloat. It will ultimately result in huge price inflation, or, if you stop printing, another massive economic crash will occur. There is no other way out.

    Again, thank you for inviting me. You have prepared food, so I will not be rude, I will stay and eat.

    Let’s have one good meal here. Let’s make it a feast. Then I ask you, I plead with you, I beg you all, walk out of here with me, never to come back. It’s the moral and ethical thing to do. Nothing good goes on in this place. Let’s lock the doors and leave the building to the spiders, moths and four-legged rats.
    http://www.zerohedge.com/news/robert...omment-2381009
    "I think it would be a good idea." Mahatma Gandhi, when asked what he thought of Western civilization.

    The philosophers have only interpreted the world, in various ways; the point is to change it.
    Karl Marx.

    "Well, he would, wouldn't he?" Mandy Rice-Davies, 1963, replied Ms Rice Davies when the prosecuting counsel pointed out that Lord Astor denied an affair or having even met her.

  10. #50

    Default Federal Reserve Audit Bill Overwhelmingly Passes The House

    Federal Reserve Audit Bill Overwhelmingly Passes The House

    By Jennifer Bendery
    jen.bendery@huffingtonpost.com

    July 25, 2012 "
    Huffington Post' - WASHINGTON -- In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve.The bill, which has 270 co-sponsors, passed 327 to 98. All but one Republican -- Rep. Bob Turner of New York -- voted for it, along with 89 Democrats.Paul teamed up with former Rep. Alan Grayson (D-Fla.) in 2010 to pass similar legislation that became part of the final Wall Street reform bill. But Paul has said new audit legislation is needed because the 2010 bill didn't go far enough. Specifically, he states on his website that the audit called for in the 2010 bill only focused on emergency credit programs and procedural issues, rather than on the substantive details of the lending transactions. The 2012 bill doesn't limit the focus of the audit.Fed Chairman Ben Bernanke recently told the House Financial Services Committee that he agrees with the "basic premise" that the Fed should be transparent, but raised concerns that Paul's bill doesn't exempt monetary policy and deliberations from its reach.Not including an exemption on this point could create "a political dampening effect on the Federal Reserve's policy decisions," Bernanke warned.But Rep. Dennis Kucinich (D-Ohio) pointed out that the House vote on the bill comes on the same day that theWashington Post reported that the New York Fed "did not communicate in key meetings with top regulators that British bank Barclays had admitted to Fed staffers that it was rigging LIBOR,” the index which sets interest rates worldwide."The Fed creates trillions of dollars out of nothing and gives it to banks. Congress is in the dark. The Fed sets the stage for the subprime meltdown. Congress is in the dark. The Fed takes a dive on LIBOR. Congress is in the dark. The Fed doesn’t tell regulators what is going on. Congress is in the dark," Kucinich shouted on the House floor, just before the vote."It is time for us to bring the Fed into the sunshine of accountability," he said.Despite the broad support in the House, a senior Senate Democratic aide signaled the bill isn't likely to go anywhere in that chamber in the near future."Not this work period," the aide said about the Senate acting on the bill ahead of the month-long August recess. "Don’t know about September, but I doubt it."Another top Senate Democratic aide concurred that the bill likely won't go anywhere, but speculated it could resurface in a different form."We probably won’t bring it up," said the aide, adding that Paul's son, Sen. Rand Paul (R-Ky.), "will probably start insisting on this as an amendment to everything under the sun, so it's possible it comes up for an amendment vote at some point.""It would not be the craziest amendment we've voted on," the aide said.


    http://www.informationclearinghouse....ticle31989.htm

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •