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TOP SECRETS OF THE FEDERAL RESERVE - PART 2

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  1. 173
  2. Morgan’s First National Bank of New York, merged with National City Bank in 1955, two of the largest purchasers of Federal
  3. Reserve Bank of New York stock in 1914. Number 3, is Chase Manhattan, New York, with assets of $80.9 billion. This is Chase and
  4. Bank of Manhattan merged, the Rockefeller and Kuhn Loeb group, also purchasers of Federal Reserve Bank of New York stock in
  5. 1914. Number 4 is Manufacturers Hanover of New York $64 billion, also purchaser of Federal Reserve Bank of New York stock in
  6. 1914. Number 5 is J.P. Morgan Company of New York, $58.6 billion in assets and holder of considerable Federal Reserve Bank stock.
  7. Number 6 is Chemical Bank of New York, $48.3 billion also purchaser of Federal Reserve stock in 1914. And Number 11, First
  8. Chicago Corporation, the First National Bank of Chicago which was principal correspondent of the Morgan-Baker bank in New
  9. York, and which furnished the first two presidents of the Federal Advisory Council.
  10. The direct line which leads from the participants in the Jekyll Island Conference of 1910 to the present day is illustrated by a
  11. passage from "A Primer on Money", Committee on Banking and Currency, U.S. House of Representatives, 88th Congress, 2d
  12. session, August 5, 1964, p. 75:
  13. "The practical effect of requiring all purchases to be made through the open market is to take
  14. money from the taxpayer and give it to the dealers. It forces the Government to pay a toll for
  15. borrowing money. There are six ‘bank’ dealers: First National City Bank of New York; Chemical
  16. Crop. Exchange Bank, New York, Morgan Guaranty Trust Co., New York, Bankers Trust of New York, First
  17. National Bank of Chicago, and Continental Illinois Bank of Chicago."
  18. Thus the banks which receive a "toll" on all money borrowed by the Government of the United States are the same banks which
  19. planned the Federal Reserve Act of 1913. There is ample evidence demonstrating the present preeminence of the same banks which
  20. set up the Federal Reserve System in 1914. For instance, Warren Brookes writes on the editorial page of The Washington Post, June
  21. 6, 1983:
  22. "Citicorp (National City Bank and First National Bank of New York, merged in 1955) just
  23. recorded an 18.6% return on equity, J.P. Morgan, 17%, Chemical Bank and Bankers Trust, nearly 16%, an
  24. exceptional rate of return."
  25. These are the banks which bought the first issue of Federal Reserve Bank stock in 1914, and which owned the controlling interest in
  26. the Federal Reserve Bank of New York, which sets the interest rate and is the bank for all open market operations.
  27. These banks also profit steadily from the otherwise inexplicable fluctuations in monetary growth and interest rates. Brookes further
  28. comments on "actual monetary growth rates alternately gyrating from 0 to 17% in successive six month periods for three recession-
  29. wracked years. The two measures of money growth most admired by Milton Friedman M2 and M3,
  30. 174
  31. have actually shown little change on a year to year basis in the 1972-82 period."
  32. Thus we have money growth rates gyrating from 0 to 17% but no actual year to year changes, which raises the question of why we
  33. cannot have stability of monetary growth throughout the year. The answer is that the big profits are made by these gyrations, and
  34. the next question is, who sets in motion these gyrations? The answer is "the London Connection".
  35. To draw attention from the continued control of the bankers and their heirs, who obtained the government monopoly of the nation’s
  36. money and credit in 1913, the paid propagandists of the controlled media monopoly and academia are constantly trotting forth new
  37. and more exotic theories of economics. Thus James Burnham, one of the National Review propagandists, won fame with a ridiculous
  38. theory of "the managers". He postulated that the old arbiters of wealth, the J.P. Morgans, the Warburgs and the Rothschilds had, by
  39. 1950, disappeared from the scene, being replaced by a new class of "managers". This theory, which had no foundation in fact, served
  40. to obscure the fact that the same people still controlled the monetary system of the world. The "managers" were just that, executives
  41. like Volcker who were front men, paid employees who would continue to receive their paychecks only as long as they carried out their
  42. employers’ instructions. Burnham remains a well-paid propagandist at the National Review, which many prominent leaders,
  43. including President Reagan, believe to be a "conservative" publication.
  44. From 1914 to 1982, a period in which many thousands of American banks went bankrupt, the original purchasers of Federal Reserve
  45. Bank stock have not only survived but they have consolidated their power. And what of "the London Connection"? Does it still exist,
  46. and is it still dictating the economic destiny of the United States? The Washington Post, May 19, 1983, carried a story datelined
  47. Nairobi, Kenya, noting the meeting of the African Development Bank. "The British merchant bank, Morgan Grenfell and a
  48. syndicate of the United States, Kuhn Loeb, Lehman Brothers International, the French Lazard Freres and Britain’s Warburg are
  49. discreetly acting as financial advisors to about ten debt-plagued African states."
  50. There are the same names we encountered in 1914, still managing the finances of the world, with profits for themselves but with
  51. disastrous results for everyone else. Perhaps we can look for relief to the present Administration of President Reagan. Unfortunately,
  52. before reaching him we have to run the gamut of the long list of his principal staff, composed of men from J. Henry Schroder, Brown
  53. Brothers Harriman, and other leading components of "The London Connection".
  54. Lopez Portillo, President of Mexico, in addressing the Mexican National Congress of Mexico in September, 1982, called the world
  55. credit boom of the past decade a financial pestilence akin to the Black Death which swept
  56. 175
  57. Europe in the fourteenth century. "As in mediaeval times, it flattens country after country. It is transmitted by rats and it yields
  58. unemployment and misery, industrial bankruptcy and enrichment by speculation. The remedy prescribed by faith healers is forced
  59. inactivity and depriving the patient of food."
  60. Forbes Magazine stated October 11, 1982, "The world gasps for liquidity, not because the supply of money has contracted but
  61. because too much of it now goes to pay off old debts rather than fund new productive investments."
  62. The policy of high interest rates and tight money has been disastrous for the United States. In early 1983, a slight easing of money
  63. and credit promises some relief, but as long as the Federal Reserve system and its unseen manipulators continue their control of the
  64. money supply, we can expect more problems. The Nation on December 11, 1982, in commenting on economic problems, stated, "The
  65. blame for all this lies at the door of the Federal Reserve System working as usual on behalf of the international banking system."
  66. The evidence of how the Federal Reserve System works on behalf of the international banking system is graphically illustrated by a
  67. series of charts drawn up by the staff of the Committee on Banking, Currency and Housing of the House of Representatives, 94th
  68. Congress, 2d session, August, 1976, "FEDERAL RESERVE DIRECTORS: A STUDY OF CORPORATE AND BANKING
  69. INFLUENCE".* We present as our Chart V page 49 of this study, showing the interlocking directorates of David Rockefeller. As our
  70. Chart VI we reproduce page 55 of this study, showing the interlocking directorates of Frank R. Milliken, one of the Class C
  71. Directors** of the Federal Reserve Bank of New York. In this chart are all the main personages in our story of the Jekyll Island
  72. conference: Citibank, J.P. Morgan and Company, Kuhn Loeb and Company, and many related firms. As Chart VII we reproduce
  73. page 53 of this study, showing the interlocking directorates of another Class C Director of the Federal Reserve Bank of New York,
  74. Alan Pifer. As President of the Carnegie Corporation of New York, he interlocks with J. Henry Schroder Trust Company, J. Henry
  75. Schroder Banking Corporation, Rockefeller Center, Inc., Federal Reserve Bank of Boston, Equitable Life Assurance Society (J.P.
  76. Morgan), and others. Thus an August, 1976 study from the House Committee on Banking, Currency and Housing, brings before us
  77. all of our main cast of personages, functioning today just as they did in 1914.
  78. __________________________
  79. * Due to space limitations, only five of the seventy-five charts in the study, all of which show the connections between prominent,
  80. powerful individuals with control in the Federal Reserve System have been selected to illustrate the connections between officers and
  81. directors of the twelve Federal Reserve Banks in 1976 and the firms listed in this book.
  82. ** "The three Class C Directors are appointed by the Board of Governors as representatives of the public interest as a whole." p. 34,
  83. Congressional Study, 1976.
  84. 176
  85. This 120 page Congressional study details public policy functions of the Federal Reserve District Banks, how directors are selected,
  86. who is selected, the public relations lobbying factor, bank domination and bank examination, and corporate interlocks with Reserve
  87. banks. Charts were used to illustrate Class A, Class B, and Class C directorships of each district bank. For each branch bank a chart
  88. was designed giving information regarding bank appointed directors and those appointed by the Board of Governors of the Federal
  89. Reserve System.
  90. In his Foreword to the study, Chairman Henry S. Reuss, (D-Wis) wrote:
  91. "This Committee has observed for many years the influence of private interests over the
  92. essentially public responsibilities of the Federal Reserve System.
  93. As the study makes clear, it is difficult to imagine a more narrowly based board of directors for a
  94. public agency than has been gathered together for the twelve banks of the Federal Reserve
  95. System.
  96. Only two segments of American society--banking and big business--have any substantial
  97. representation on the boards, and often even these become merged through interlocking
  98. directorates . . . . Small farmers are absent. Small business is barely visible. No women appear on
  99. the district boards and only six among the branches. Systemwide--including district and branch
  100. boards--only thirteen members from minority groups appear.
  101. The study raises a substantial question about the Federal Reserve’s oft-repeated claim of
  102. "independence". One might ask, independent from what? Surely not banking or big business, if
  103. we are to judge from the massive interlocks revealed by this analysis of the district boards.
  104. The big business and banking dominance of the Federal Reserve System cited in this report can be traced, in
  105. part, to the original Federal Reserve Act, which gave member commercial banks the
  106. right to select two-thirds of the directors of each district bank. But the Board of Governors in
  107. Washington must share the responsibility for this imbalance. They appoint the so-called "public"
  108. members of the boards of each district bank, appointments which have largely reflected the same
  109. narrow interests of the bank-elected members . . . . Until we have basic reforms, the Federal
  110. Reserve System will be handicapped in carrying out its public responsibilities as an economic
  111. stabilization and bank regulatory agency. The System’s mandate is too essential to the nation’s
  112. welfare to leave so much of the machinery under the control of narrow private interests.
  113. Concentration of economic and financial power in the United States has gone too far."
  114. In a section of the text entitled "The Club System", the Committee noted:
  115. "This ‘club’ approach leads the Federal Reserve to consistently dip into the same pools--the
  116. same companies, the same universities, the same bank holding companies--to fill directorships."
  117. This Congressional study concludes as follows:
  118. 177
  119. "Many of the companies on these tables, as mentioned earlier, have multiple interlocks to the Federal Reserve System. First Bank
  120. Systems; Southeast Banking Corporation; Federated Department Stores; Westinghouse Electric Corporation; Proctor and Gamble;
  121. Alcoa; Honeywell, Inc.; Kennecott Copper; Owens-Corning Fiberglass; all have two or more director ties to district or branch
  122. banks.
  123. In Summary, the Federal Reserve directors are apparently representatives of a small elite group which dominates much of the
  124. economic life of this nation." END OF CONGRESSIONAL REPORT.
  125. 178
  126. ADDENDUM
  127. As of 11:05 Tuesday, July 26, 1983, the list of member banks holding Federal Reserve Bank of New York stock includes twenty-seven
  128. New York City banks. Listed below are the number of shares held by ten of these banks, amounting to 66% of the total outstanding
  129. number of shares, namely 7,005,700:
  130. Shares Percent
  131. Bankers Trust Company 438,831 ( 6%)
  132. Bank of New York 141,482 ( 2%)
  133. Chase Manhattan Bank 1,011,862 (14%)
  134. Chemical Bank 544,962 ( 8%)
  135. Citibank 1,090,813 (15%)
  136. European American Bank & Trust 127,800 ( 2%)
  137. J. Henry Schroder Bank & Trust 37,493 ( .5%)
  138. Manufacturers Hanover 509,852 ( 7%)
  139. Morgan Guaranty Trust 655,443 ( 9%)
  140. National Bank of North America 105,600 ( 2%)
  141. The tremendous number of shares held today as against the original purchases in 1914 is brought about by Section 5 of the original
  142. Federal Reserve Act which called for a member bank to buy and hold stock in the district Federal Reserve Bank equal to 6% of its
  143. capital and surplus.
  144. Currently, shares held by five of the above named banks comprise 53% of the total Federal Reserve Bank of New York stock. An
  145. examination of the major stockholders of the New York City banks shows clearly that a few families, related by blood marriage, or
  146. business interests, still control the New York City banks which, in turn, hold the controlling stock of the Federal Reserve Bank of
  147. New York.
  148. It is notable that three of the banks holding Federal Reserve Bank of New York stock, in the amount of 270,893 shares, are
  149. subsidiaries of foreign banks. J. Henry Schroder Bank and Trust is listed by Standard and Poors as a subsidiary of Schroders Ltd. of
  150. London. The National Bank of North America is a subsidiary of the National Westminster Bank, one of London’s "Big Five".
  151. European American Bank is a subsidiary of the European American Bank, Bahamas, LTD. It is interesting to note that the directors
  152. of the European American Bank & Trust include Milton F. Rosenthal, president and Chief Operating Officer of the international
  153. gold company,
  154. 179
  155. Engelhard Minerals and Chemical; Hamilton F. Potter, a partner in Sullivan and Cromwell (J. Henry Schroder Bank & Trust
  156. attorneys); Edward H. Tuck, partner of Shearman and Sterling (Citibank’s attorneys); F.H. Ulrich and Hans Liebkutsch, managing
  157. directors of the giant Midland Bank of London, one of the "Big Five"; and Roger Alloo, Paul-Emmanuel Janssen, and Maurice
  158. Laure of the Societe Generale de Banque (Brussels, Belgium). [See Chart III]
  159. This information, derived from the latest issue of the tabulation available from the Board of Governors, Federal Reserve System, is
  160. cited as current evidence which indicates that the controlling stock in the Federal Reserve Bank of New York, which sets the rate and
  161. scale of operations for the entire Federal Reserve System is heavily influenced by banks directly controlled by "The London
  162. Connection", that is, the Rothschild-controlled Bank of England. [See Chart I]
  163. 180
  164. APPENDIX I
  165. E.C. Knuth, in The Empire of the City, priv. printed, 1946, p. 27, refers to "the Bank of England, the full partner of the American
  166. Administration in the conduct of the financial affairs of all the world" and cites the Encyclopaedia Americana, 1943 edition.
  167. Barron cites Lord Swaythling, (April 8, 1923), "Lord Swaythling said, ‘Exchange can only be run from London. This is the center in
  168. Exchange.’" (They Told Barron, by Clarence W. Barron, founder of Baron’s Weekly, Harpers, New York, 1930, p. 27.)
  169. Exchange, in the international financial world, means the transactions in money or securities, or simply, the "exchange" of the values
  170. of these securities. It is necessary that this "exchange" take place where the values can be established, and this place is the "City" in
  171. London.
  172. London was established as the primary center of exchange because of the "Consols" of the Bank of England, bonds which could
  173. never be redeemed, but which paid a stable rate of return. Henry Clews writes, in The Wall Street View, Silver Burdett Co. 1900, p.
  174. 255, "The Consolidated Act of 1757 consolidated the debts of the nation of England at 3%, which were kept in an account at the
  175. Bank of England and is the great bulwark of its deposits." By ostentatiously "dumping" "Consols" on the London Exchange after
  176. the Battle of Waterloo, in a pretended panic, Nathan Meyer Rothschild then secretly bought up the Consols sold in the panic by
  177. other holders at a low rate, and became the largest holder of Consols, and thus won control of the Bank of England in 1815.
  178. 12% Dividends
  179. Although a Labor government nationalized the Bank of England in 1946, The Great Soviet Encyclopaedia points out (vol. I, p. 490c)
  180. that the Bank of England continues to pay 12% dividends per annum, just as it had done prior to the nationalization. The
  181. "Governor" is appointed by the government, in a situation similar to that in the United States, where the Governors of the Federal
  182. Reserve System are appointed by the President. However, as is pointed out in the Encyclopaedia Americana v. 13, p. 272, "In
  183. practice, the governors of the Bank of England have not hesitated to criticize and bring pressure on the government in public."
  184. Bank Rate
  185. The interest rate set by the Bank of England is known as "the Bank rate", and it is a controlling factor in interest rates throughout
  186. the world,
  187. 181
  188. although rates in other countries may be higher or lower than this "Bank rate". The Bank of England manages the government debt,
  189. and is called upon to arbitrate in political affairs. It served as the intermediary with the Iran revolutionaries in negotiating for the
  190. return of the American hostages--a recent example.
  191. We should not be surprised that the present Governor of the Bank of England, Sir Gordon Richardson is a prominent international
  192. financial figure, who appears elsewhere in these pages because of his connection with the J. Henry Schroder @Wagg in London from
  193. 1962 to 1972, when he became Governor of the Bank of England. He was also director of J. Henry Schroder Co., New York, and
  194. Schroder Banking Corp., New York. He also serves as director of Rolls Royce and Lloyd’s Bank. Although he resides in London, he
  195. maintains a home in New York, and is listed in the current Manhattan directory simply as "G. Richardson, 45 Sutton Place S.",
  196. although a prior listing showed him at 4 Sutton Place. Sutton Place was developed as a fashionable address for the international set
  197. by Bessie Marbury, whom we earlier cited for her connection with the Morgan family and the Roosevelts.
  198. The present directors of the Bank of England (1982) include Leopold de Rothschild of N.M. Rothschild & Sons, Sir Robert Clark,
  199. chairman of Hill Samuel Bank, the most influential bank after Rothschilds, John Clay, of Hambros Bank, and David Scholey, of
  200. Warburg Bank, and joint chairman of S.C. Warburg Co.
  201. Anthony Sampson writes, in "The Changing Anatomy of Britain", Random House, New York, 1982, p. 279, "The more cosmopolitan
  202. banks with foreign experts and directors, such as Warburgs, Montagus, Rothschilds and Kleinworts, had also discovered a huge new
  203. source of profits in the market for Eurodollars which began in the late fifties and multiplied through the 60s . . . British bankers
  204. themselves controlled relatively small funds, but they knew how to make money out of other people’s money."
  205. The Eurodollar market, a new development in "created money" is monopolized by the above firms.
  206. Eurodollar Empire
  207. "Today, together with allies on the island of Manhattan (Britain’s most important piece of real estate), the British Empire controls
  208. the entire $1.5 trillion Eurodollar financial market, another $300-$500 billion in the Cayman Islands, Bahamas, and $50-$100 billion
  209. in the Hong-Kong Singapore "Asia-dollar market". . . . Consider the $1.5 trillion Eurodollar market an "outlaw" market in the U.S.
  210. dollars over which this nation has no control. Here control and profits are overwhelmingly in the hands of London banks, who set the
  211. terms of lending and the interest rate on this mass of American dollars in relation to the London Interbank Borrowing
  212. 182
  213. Rate (LIBOR) . . . U.S. banks like Citibank (New York City), on whose board of directors sits the powerful British financier, Lord
  214. Aldington, collaborate openly in this market. At the same time, British banks including the known central bank for the world’s drug
  215. trade, the Hongkong and Shanghai Bank, pour into America to devour U.S. banks. In 1978 the Hongshang (Ed.--Hongkong and
  216. Shanghai Bank) took over New York’s Marine Midland Bank, the state’s 11th largest commercial bank. . . The British also control
  217. the creation of American dollars. While Federal Reserve Board Chairman Paul Volcker tightens credit against the domestic
  218. economy, British-controlled banks in the Cayman Islands (such as the European American Bank--Ed.) a British possession 200 miles
  219. off Florida, and in the Bermudas and a dozen other "free banking" computer terminals create hundreds of billions of American
  220. dollars. How is this done? There are no reserve ratios or other restrictions on the creation of dollar-denominated credits in the
  221. Empire’s "free enterprise" banking. A $1 million bona fide credit coming from the United States can be turned into $20 to $100
  222. million in dollar-denominated credits as it passes through the British system without reserve ratios."*
  223. Not only the financial power, but also the legal power, has remained seated in Britain. The Washington Post commented on June 18,
  224. 1983 that after the American Revolution, all the old laws remained in effect in the new United States: Some of these laws of "English
  225. common law" dated back to 1278, long before America was discovered.
  226. This enormous financial power of "the City" is revealed in many areas. Dean Acheson states, in "Present at the Creation", 1969,
  227. W.W. Norton, New York, p. 779, "We stayed at the embassy residence, the old J.P. Morgan mansion, 14 Prince’s Gate, facing Hyde
  228. Park." How many Americans are aware that the U.S. Embassy residence in London is the J.P. Morgan home, or that Dean Acheson,
  229. a former Morgan employee, described himself as Secretary of State on p. 505, "My own attitude had long been, and was known to
  230. have been, pro-British." No one commented on an American Secretary of State’s open bias in favor of England.
  231. The Federal Reserve "created" money is not used only for financial matters; this money is also used to maintain the bankers’ control
  232. of every aspect of political, economic and social life. It is used to bankroll the enormous expenditures of political candidates, the
  233. swollen budgets of universities, the huge outlays required to start newspapers or magazines, and a vast array of foundations, "think-
  234. tanks" and other instruments of mind control.
  235. Psychological Warfare
  236. Few Americans know that almost every development in psychology in the United States in the past sixty-five years has been directed
  237. by the Bureau of Psychological Warfare of the British Army. A short time ago,
  238. __________________________
  239. * Harpers Magazine, Feb. 1980
  240. 183
  241. the present writer learned a new name, The Tavistock Institute of London, also known as the Tavistock Institute of Human
  242. Relations. "Human relations" covers every aspect of human behavior, and it is the modest goal of the Tavistock Institute to obtain
  243. and exercise control over every aspect of human behavior of American citizens.
  244. Because of the intensive artillery barrages of World War I, many soldiers were permanently impaired by shell shock. In 1921, the
  245. Marquees of Tavistock, 11th Duke of Bedford, gave a building to a group which planned to conduct rehabilitation programs for shell
  246. shocked British soldiers. The group took the name of "Tavistock Institute" after its benefactor. The General Staff of the British
  247. Army decided it was crucial that they determine the breaking point of the soldier under combat conditions. The Tavistock Institute
  248. was taken over by Sir John Rawlings Reese, head of the British Army Psychological Warfare Bureau. A cadre of highly trained
  249. specialists in psychological warfare was built up in total secrecy. In fifty years, the name "Tavistock Institute’ appears only twice in
  250. the Index of the New York Times, yet this group, according to LaRouche and other authorities, organized and trained the entire staffs
  251. of the Office of Strategic Services (OSS), the Strategic Bombing Survey, Supreme Headquarters of the Allied Expeditionary Forces,
  252. and other key American military groups during World War II. During World War II, the Tavistock Institute combined with the
  253. medical sciences division of the Rockefeller Foundation for esoteric experiments with mind-altering drugs. The present drug culture
  254. of the United States is traced in its entirety to this Institute, which supervised the Central Intelligence Agency’s training programs.
  255. The "LSD counter culture" originated when Sandoz A.G., a Swiss pharmaceutical house owned by S.G. Warburg & Co., developed
  256. a new drug from lysergic acid, called LSD. James Paul Warburg (son of Paul Warburg who had written the Federal Reserve Act in
  257. 1910), financed a subsidiary of the Tavistock Institute in the United States called the Institute for Policy Studies, whose director,
  258. Marcus Raskin, was appointed to the National Security Council. James Paul Warburg set up a CIA program to experiment with
  259. LSD on CIA agents, some of whom later committed suicide. This program, MK-Ultra, supervised by Dr. Gottlieb, resulted in huge
  260. lawsuits against the United States Government by the families of the victims.
  261. The Institute for Policy Studies set up a campus subsidiary, Students for Democratic Society (SDS), devoted to drugs and revolution.
  262. Rather than finance SDS himself, Warburg used CIA funds, some twenty million dollars, to promote the campus riots of the 1960s.
  263. The English Tavistock Institute has not restricted its activities to left-wing groups, but has also directed the programs of such
  264. supposedly "conservative" American think tanks as the Herbert Hoover Institute at Stanford University, Heritage Foundation,
  265. Wharton, Hudson, Massachusetts Institute of Technology, and Rand. The "sensitivity train-
  266. 184
  267. ing" and "sexual encounter" programs of the most radical California groups such as Esalen Institute and its many imitators were all
  268. developed and implemented by Tavistock Institute psychologists.
  269. One of the rare items concerning the Tavistock Institute appears in Business Week, Oct. 26, 1963, with a photograph of its building in
  270. the most expensive medical offices area of London. The story mentions "the Freudian bias" of the Institute, and comments that it is
  271. amply financed by British blue-chip corporations, including Unilever, British Petroleum, and Baldwin Steel. According to Business
  272. Week, the psychological testing programs and group relations training programs of the Institute were implemented in the United
  273. States by the University of Michigan and the University of California, which are hotbeds of radicalism and the drug network.
  274. It was the Marquees of Tavistock, 12th Duke of Bedford, whom Rudolf Hess flew to England to contact about ending World War II.
  275. Tavistock was said to be worth $40 million in 1942. In 1945, his wife committed suicide by taking an overdose of pills.
  276. 185
  277. 186
  278. BIOGRAPHIES
  279. NELSON ALDRICH (1841-1915)
  280. Senator from Rhode Island; head of National Monetary Commission; his daughter Abby Aldrich married John D. Rockefeller, Jr.;
  281. he became the grandfather of his namesake. Nelson Aldrich Rockefeller, as well as the present David Rockefeller and Laurence
  282. Rockefeller.
  283. WILLIAM JENNINGS BRYAN (1860-1925)
  284. Woodrow Wilson’s Secretary of State, three times losing presidential candidate of the Democratic Party, in 1896, 1900, and 1908,
  285. and head of the Democratic Party.
  286. ALFRED OWEN CROZIER (1863-1939)
  287. A prominent attorney in Grand Rapids, Cincinnati, and New York, Crozier wrote eight books on legal and monetary problems,
  288. focussing on his opposition to the supplanting of Constitutional money by the corporation currency printed by private firms for their
  289. profit.
  290. CLARENCE DILLON (1882-1979)
  291. Born in San Antonio, Texas, son of Samuel Dillon and Bertha Lapowitz. Harvard, 1905. Married Anne Douglass of Milwaukee. His
  292. son, C. Douglas Dillon (later Secretary of the Treasury, 1961-65) was born in Geneva, Switzerland in 1909 while they were abroad.
  293. Dillon met William A. Read, founder of the Wall Street bond broker William A. Read and Company, through introduction by
  294. Harvard classmate William A. Phillips in 1912 and Dillon joined Read’s Chicago office in that year. He moved to New York in 1914.
  295. Read died in 1916, and Dillon bought a majority interest in the firm. During World War 1, Bernard Baruch, chairman of the War
  296. Industries Board, (known as the Czar of American industry) asked Dillon to be assistant chairman of the War Industries Board. In
  297. 1920, William A. Read & Company name was changed to Dillon, Read & Company. Dillon was director of American Foreign
  298. Securities Corporation, which he had set up in 1915 to finance the French Government’s purchases of munitions in the United
  299. States. His righthand man at Dillon Read, James Forrestal, became Secretary of the Navy, later Secretary of Defense, and died under
  300. mysterious circumstances at a Federal hospital. In 1957, Fortune Magazine listed Dillon as one of the richest men in the United
  301. States, with a fortune then estimated to be from $150 to $200 million.
  302. ALAN GREENSPAN (1926- )
  303. Appointed by President Reagan to succeed Paul Volcker as Chairman of the Board of Governors of the Federal Reserve System in
  304. 1987. Greenspan had succeeded Herbert Stein as chairman of the President’s Council of Economic
  305. 187
  306. Advisors in 1974. He was the protégé of former chairman of the Board of Governors, Arthur Burns of Austria (Bernstein). Burns was
  307. a monetarist representing the Rothschild’s Viennese School of Economics, which manifested its influence in England through the
  308. Royal Colonial Society, a front for Rothschilds and other English bankers who stashed their profits from the world drug trade in the
  309. Hong Kong Shanghai Bank. The staff economist for the Royal Colonial Society was Alfred Marshall, inventor of the monetarist
  310. theory, who, as head of the Oxford Group, became the patron of Wesley Clair Mitchell, who founded the National Bureau of
  311. Economic Research for the Rockefellers in the United States. Mitchell, in turn, became the patron of Arthur Burns and Milton
  312. Friedman, whose theories are now the power techniques of Greenspan at the Federal Reserve Board. Greenspan is also the protégé
  313. of Ayn Rand, a weirdo who interposed her sexual affairs with guttural commands to be selfish. Rand was also the patron of CIA
  314. propagandist William Buckeley and the National Review. Greenspan was director of major Wall Street firms such as J.P. Morgan
  315. Co., Morgan Guaranty Trust (the American bank for the Soviets after the Bolshevik Revolution of 1917), Brookings Institution,
  316. Bowery Savings Bank, the Dreyfus Fund, General Foods, and Time, Inc. Greenspan’s most impressive achievement was as chairman
  317. of the National Commission on Social Security from 1981-1983. He juggled figures to convince the public that Social Security was
  318. bankrupt, when in fact it had an enormous surplus. These figures were then used to fasten onto American workers a huge increase in
  319. Social Security withholding tax, which invoked David Ricardo’s economic dictum of the iron law of wages, that workers could only
  320. be paid a subsistence wage, and any funds beyond that must be extorted from them forcibly by tax increases. As a partner of J.P.
  321. Morgan Co. since 1977, Greenspan represented the unbroken line of control of the Federal Reserve System by the firms represented
  322. at the secret meeting on Jekyll Island in 1910, where Henry P. Davison, righthand man of J.P. Morgan, was a key figure in the
  323. drafting of the Federal Reserve Act. Within days of taking over as chairman of the Federal Reserve Board, Greenspan immediately
  324. raised the interest rate on Sept. 4, 1987, the first such increase in three years of general prosperity, and precipitated the stock market
  325. crash of Oct., 1987, Black Monday, when the Dow Jones average plunged 508 points. Under Greenspan’s direction, the Federal
  326. Reserve Board has steadily nudged the United States deeper and deeper into recession, without a word of criticism from the
  327. complaisant members of Congress.
  328. COLONEL EDWARD MANDELL HOUSE (1858-1938)
  329. Son of a Rothschild agent in Texas. Succeeded in electing five consecutive governors of Texas; became Woodrow Wilson’s advisor in
  330. 1912. Cooperated with Paul Warburg to get the Federal Reserve Act passed by Congress in 1913.
  331. ROBERT MARION LAFOLLETTE (1855-1925)
  332. Served in Senate from Wisconsin 1905-25. Led agrarian reformers in opposing Eastern bankers and their plans for the Federal
  333. Reserve Act. Ran for President in 1924 on Progressive-Socialist ticket.
  334. 188
  335. CHARLES AUGUSTUS LINDBERGH, SR. (1860-1924)
  336. Congressman from Minnesota (1907-1917) who led the fight against enactment of the Federal Reserve Act in 1913. He served until
  337. 1917 when he resigned to run for governor of Minnesota. He ran a good campaign despite adverse newspaper attacks led by The
  338. New York Times. His campaign was adversely affected when Federal agents burned his books, including Why Is Your Country At
  339. War? and the papers and contents of his home office in Little Falls, Minnesota.
  340. LOUIS T. McFADDEN (1876-1936)
  341. Congressman and Chairman of the House Banking and Currency Committee, 1927-33; courageously opposed the manipulators of
  342. the Federal Reserve System in the 1920’s and the 1930’s. Introduced bills to impeach Federal Reserve Board of Governors and allied
  343. officials. After three attempts on his life, he died mysteriously.
  344. JOHN PIERPONT MORGAN (1837-1913)
  345. Considered the dominant American financier at the turn of the century. Who’s Who in 1912 stated he "controls over 50,000 miles of
  346. railroads in the United States." Organized United States Steel Corporation. Became representative of House of Rothschild through
  347. his father, Junius S. Morgan, who had become London partner of George Peabody & Company, later Junius S. Morgan Company, a
  348. Rothschild agent. John Pierpont Morgan, Jr. succeeded his father as head of the Morgan empire.
  349. DAVID MULLINS (1946- )
  350. Appointed Governor of the Federal Reserve Board May 21, 1990, David Mullins’ term runs to Jan. 31, 1996. He was recently
  351. nominated to serve as Vice Chairman of the Federal Reserve Board, and served as Assistant Secretary of the Treasury for Domestic
  352. Finance 1988-90, receiving the department’s highest award, the Alexander Hamilton Award, for his service in such programs as
  353. synthetic fuels, federal finance, Farm Credit Assistance Board, and author of the President’s Plan for rescuing the savings and loan
  354. institutions. He is a distant cousin of the author, descended from John Mullins, the first recorded settler in the western area of
  355. Virginia, hero of the battle of King’s Mountain, and recipient of a 200 acre grant of land for his service in the American Revolution.
  356. WRIGHT PATMAN (1893-1976)
  357. Congressman and Chairman of the House Banking and Currency Committee 1963-74. Led the fight in Congress to stop the
  358. manipulators of the Federal Reserve System from 1937 to his death in 1976.
  359. CONGRESSMAN ARSENE PUJO
  360. Served in Congress 1903-1913. Democrat from Louisiana. Chairman of House Banking and Currency Committee. Chairman of
  361. "Pujo Hearings" Subcommittee, 1912.
  362. 189
  363. SIR GORDON RICHARDSON (1915- )
  364. Head of the Bank of England since 1973. Chairman J. Henry Schroder Wagg, London, 1962-72; director of J. Henry Schroder
  365. Banking Corporation, New York; Schroder Banking Corporation, New York; Lloyd’s Bank, London; Rolls Royce.
  366. JACOB SCHIFF (1847-1920)
  367. Born in Rothschild house in Frankfurt, Germany. Emigrated to United States, married Therese Loeb, daughter of Solomon Loeb,
  368. founder of Kuhn, Loeb and Co. Schiff became senior partner of Kuhn, Loeb and Co., and as representative of Rothschild interests
  369. gained control of most of railway mileage in United States.
  370. BARON KURT VON SCHRODER (1889- )
  371. Adolph Hitler’s personal banker, advanced funds for Hitler’s accession to power in Germany in 1933; German representative of the
  372. London and New York branches of J. Henry Schroder Banking Corporation; SS Senior Group Leader; director of all German
  373. subsidiaries of I.T.T; Himmler’s Circle of Friends; advisor to board of directors, Deutsche Reichsbank (German central bank).
  374. ANTHONY MORTON SOLOMON (1919- )
  375. Educated at Harvard, economist Office of Price Administration, 1941-42; financial mission to Iran, 1942-46; Agency for
  376. international Development South America, 1965-69; president international Investment Corporation for Yugoslavia 1969-72;
  377. advisor to Chairman, Ways and Means Committee, House of Representatives, 1972-73; Undersecretary Monetary Affairs, U.S.
  378. Treasury, 1977-80; president Federal Reserve Bank of New York, 1980-
  379. SAMUEL UNTERMYER (1858-1940)
  380. A partner of the law firm of Guggenheimer and Untermyer of New York, who conducted the "Pujo Hearings" of the House Banking
  381. and Currency Committee in 1912. Counsel for Rogers and Rockefeller in many large suits against F. Augustus Heinze, Thomas W
  382. Lawson and others. Earned a single fee of $775,000 for handling merger of Utah Copper Company. Reported in The New York
  383. Times May 26, 1924 as urging immediate recognition of Soviet Russia at Carnegie Hall meeting. Untermyer’s prestige and power is
  384. illustrated by the fact that this front page obituary in The New York Times covered six columns. His listing in Who’s Who was the
  385. longest for thirteen years.
  386. FRANK VANDERLIP (1864-1937)
  387. Assistant Secretary of Treasury 1897-1901; won prestige for financing Spanish American War by floating $200,000,000 in bonds
  388. during his incumbency for what is known as "National City Bank’s War" President of National City Bank 1909-19. One of the
  389. original Jekyll Island group who wrote Federal Reserve Act in November, 1910. No mention of this important fact is made in
  390. extensive obituary in The New York Times, June 30, 1937.
  391. 190
  392. GEORGE SYLVESTER VIERECK (1884-1962)
  393. Author of the definitive study The Strangest Friendship in History, Woodrow Wilson and Col. House, Liveright, 1932. A leading poet
  394. of the early 1900’s, reviewed on the front page of The New York Times Book Review, and known as the leading German-American
  395. citizen of the United States.
  396. PAUL VOLCKER (1927- )
  397. Chairman of the Federal Reserve Board of Governors since 1979, appointed by President Carter, reappointed by President Reagan
  398. for another four year term beginning August 6, 1983. Educated at Princeton, Harvard and London School of Economics; employed
  399. by Federal Reserve Bank of New York, 1952-57; Chase Manhattan Bank, 1957-61; Treasury Department, 1961-74; president Federal
  400. Reserve Bank of New York, 1975-79.
  401. PAUL WARBURG (1868-1932)
  402. Conceded to be the actual author of our central bank plan, the Federal Reserve System, by knowledgeable authorities. Emigrated to
  403. the United States from Germany 1904; partner, Kuhn Loeb and Company bankers, New York; naturalized 1911. Member of the
  404. original Federal Reserve Board of Governors, 1914-1918; president Federal Advisory Council, 1918-1928. Brother of Max Warburg,
  405. who was head of German Secret Service during World War I and who represented Germany at the Peace Conference, 1918-1919,
  406. while Paul was chairman of the Federal Reserve System.
  407. SIR WILLIAM WISEMAN (1885-1962)
  408. Partner of Kuhn, Loeb and Company; head of British Secret Service during World War I. Worked closely with Col. House
  409. dominating the United States and England.
  410. 191
  411. blank
  412. 192
  413. BIBLIOGRAPHY
  414. Newspapers:
  415. New York Times 1858-1983
  416. Washington Post 1933-1983
  417. Periodicals:
  418. Barron’s Weekly 1921-1983
  419. Business Week 1929-1983
  420. Forbes Magazine 1917-1983
  421. Fortune 1930-1983
  422. Harper’s 1850-1983
  423. National Review 1955-1983
  424. Newsweek 1933-1983
  425. The Nation 1865-1983
  426. The New Republic 1914-1983
  427. Time 1923-1983
  428. Books:
  429. Current Biography 1940-1983 H.W. Wilson Co., N.Y.
  430. Dictionary of National Biography, Scribners, N.Y. 1934-1965
  431. Directory of Directors, London 1896-1983
  432. Directory of Directors In The City of New York 1898-1918
  433. The Concise Dictionary of National Biography, 1903-1979, Oxford University
  434. Press
  435. Congressional Record 1910-1983
  436. International Index to Periodicals 1920-1965, H.W. Wilson Co., N.Y.
  437. Poole’s Index to Periodical Literature 1802-1906, Wm. T Poole, Chicago
  438. Readers Guide to Periodicals 1900-1983
  439. Rand McNally’s Bankers Guide 1904-1928
  440. Moody’s Banking and Finance 1928-1968
  441. Who’s Who in America 1890-1983, A.N. Marquis Co.
  442. Who’s Who, Great Britain 1921-1983
  443. Who Was Who In America 1607-1906, A.N. Marquis Co.
  444. Who’s Who in the World 1972-1983, A.N. Marquis Co.
  445. Who’s Who in Finance and Industry 1936-1969, A.N. Marquis Co.
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  447. Standard and Poor’s Register of Directors 1928-1983
  448. Senate Committee Hearings on Federal Reserve Act, 1913
  449. House Committee Hearings on Federal Reserve Act, 1913
  450. House Committee Hearings on the Money Trust (Pujo Committee) 1913
  451. House Investigation of Federal Reserve System, 1928
  452. Senate Investigation of Fitness of Eugene Meyer to be a Governor of the Federal
  453. Reserve Board, 1930
  454. Senate Hearings on Thomas B. McCabe to be a Governor of the Federal Reserve
  455. System, 1948
  456. House Committee Hearings on Extension of Public Debt, 1945
  457. Federal Reserve Directors: A Study of Corporate and Banking Influence.
  458. Staff Report, Committee on Banking, Currency and Housing, House of
  459. Representatives, 94th Congress, 2d Session, August, 1976.
  460. The Federal Reserve System, Purposes and Functions, Board of Governors, 1963
  461. A History of Monetary Crimes, Alexander Del Mar, the Del Mar Society, 1899
  462. Fiat Money Inflation in France, Andrew Dickson White, Foundation for
  463. Economic Education, N.Y. 1959
  464. The War on Gold, Antony C. Sutton, 76 Press, California, 1977
  465. Wall Street and the Rise of Hitler, Antony C. Sutton, 76 Press, California, 1976
  466. Collected Speeches of Louis T McFadden, Congressional Record
  467. The Truth About Rockefeller, E.M. Josephson, Chedney Press, N.Y. 1964
  468. The Strange Death of Franklin D. Roosevelt, E.M. Josephson, Chedney Press,
  469. N.Y. 1948
  470. Behind the Throne, Paul Emden, Hoddard Stoughton, London, 1934
  471. The Money Power of Europe, Paul Emden, Hoddard Stoughton, London
  472. The Robber Barons, Mathew Josephson, Harcourt Brace, N.Y. 1934
  473. The Rothschilds, Frederic Morton, Curtis Publishing Co., 1961
  474. The Magnificent Rothschilds, Cecil Roth, Robert Hale Co., 1939
  475. Pawns In The Game, William Guy Carr, (privately printed), 1956
  476. Tearing Away the Veils, Francois Coty, Paris, 1940
  477. Writers on English Monetary History, 1626-1730, London, 1896
  478. The Federal Reserve System After Fifty Years, Committee on Banking and
  479. Currency, Jan., Feb. 1964
  480. The Bankers’ Conspiracy, Arthur Kitson, 1933
  481. Laws Of The United States Relating to Currency, Finance and Banking From
  482. 1789 to 1891, Charles F. Dunbar, Ginn & Co., Boston, 1893
  483. Monetary Policy of Plenty Instead of Scarcity, Committee on Banking and
  484. Currency, 1937-1938
  485. The Strangest Friendship In History, Woodrow Wilson and Col. House, George
  486. Sylvester Viereck, Liveright, N.Y. 1932
  487. Federal Reserve Policy Making, G.L. Bach, Knapf, N.Y. 1950
  488. Rulers of America, A Study of Finance Capital, Anna Rockester, International
  489. Publishers, N.Y. 1936
  490. 194
  491. Banking in the United States Before the Civil War, National Monetary
  492. Commission, 1911
  493. National Banking System, National Monetary Commission, 1911
  494. The Federal Reserve System, Paul Warburg, Macmillan, N.Y. 1930
  495. Roosevelt, Wilson and the Federal Reserve Law, Col. Elisha Garrison,
  496. Christopher Publishing House, Boston, 1931
  497. Men Who Run America, Arthur D. Howden Smith, Bobbs Merrill, N.Y., 1935
  498. Financial Giants of America, George E Redmond, Stratford, Boston, 1922
  499. The Great Soviet Encyclopaedia, Macmillan, London, 1973
  500. Encyclopaedia Britannica, 1979
  501. Encyclopaedia Americana, 1982
  502. Dope, Inc., Goldman, Steinberg et at, New Benjamin Franklin House Publishing
  503. Company, N.Y. 1978
  504. Banking and Currency and the Money Trust, Charles A. Lindbergh, Sr. 1913
  505. The Strange Career of Mr. Hoover Under Two Flags, John Hamill, William Faro,
  506. N.Y. 1931
  507. The Federal Reserve System, H. Parker Willis, Ronald Co., 1923
  508. A.B.C. of the Federal Reserve System, E.W. Kemmerer, Princeton Univ., 1919
  509. Adventures in Constructive Finance, Carter Glass, Doubleday, N.Y. 1927
  510. Banking Reform in the United States, Paul Warburg, Columbia Univ., 1914
  511. U.S. Money vs. Corporation Currency, Alfred Crozier, Cleveland, 1912
  512. Philip Dru, Administrator, E.M. House, B.W. Huebsch, N.Y. 1912
  513. The Intimate Papers of Col. House, edited by Charles Seymour, 4 v. 1926-1928,
  514. Houghton Mifflin Co.
  515. The Great Conspiracy of the House of Morgan, H.W. Loucks, 1916
  516. Capital City, McRae and Cairncross, Eyre Methuen, London, 1963
  517. Aggression, Otto Lehmann-Russbeldt, Hutchinson, London, 1934
  518. The Empire of High Finance, Victor Perlo, International Pub., 1957
  519. Memoirs of Max Warburg, Berlin, 1936
  520. Letters and Friendships of Sir Cecil Spring-Rice
  521. Tragedy and Hope, Carroll Quigley, Macmillan, N.Y.
  522. The Politics of Money, Brian Johnson, McGraw Hill, N.Y. 1970
  523. A Primer on Money, House Banking and Currency Committee, 1964
  524. Pierpont Morgan and Friends, The Anatomy of A Myth, George Wheeler,
  525. Prentice Hall, N.J., 1973
  526. Pierpont Morgan, Herbert Satterleee, Macmillan, N.Y., 1940
  527. Morgan the Magnificent, John K. Winkler, Vanguard, N.Y., 1930
  528. Wilson, Arthur Link (5 vol.) Princeton University Press, Princeton, N.J.
  529. Historical Beginning... The Federal Reserve, Roger T Johnson, Federal Reserve
  530. Bank of Boston, 1977 (7 printings, 1977-1982, totaling 92,000 copies.) [It
  531. is noteworthy that this 64 page booklet makes no mention of Jekyll Island,
  532. Paul Warburg’s authorship, or source of promotion funds which resulted
  533. in enactment of the Federal Reserve Act on December 23, 1913.]
  534. The Federal Reserve and Our Manipulated Dollar, Martin A. Larson, Devin Adair
  535. Co., Old Greenwich, Conn., 1975
  536. 195
  537. Chain Banking, Stockholder and Loan Links of 200 Largest Member Banks,
  538. House Banking and Currency Committee, Jan. 3, 1963
  539. International Banking, Staff Report, Committee on Banking Currency and
  540. Housing, May 1976
  541. Audit of the Federal Reserve System, Hearings Before the House Banking and
  542. Currency Committee, 1975.
  543. 196
  544. INDEX
  545. A Abbot, Lawrence--22 Adams, John Quincy--48 Aldrich, Nelson--1, 2, 3, Brandeis, Justice Louis--87, 109 Bristow, Senator--38 Brookhart,
  546. 6, 7, 8, 9, 10, 11, 19, 21, 22, 30, 33, 36 Aldrich-Vreeland Emergency Senator--117 Brown, Alexander--49 Alex Brown & Son--49 Brown
  547. Currency Bill--12, 19, 20, 22 Allen, W.H.--33 American Acceptance Brothers Bankers--22, 49, 131 Brown Brothers Harriman--22, 48, 49, 61,
  548. Council--128 American Bankers Association--13, 127 American Relief 68, 79, 131, 171, 172, 175 Brown Shipley & Company--49, 68 Bryan,
  549. Administration-- 74, 78 Andrew, A. Piatt--1 Astor, John Jacob--64, 65 William Jennings--26, 29, 82, 83, 118 Bull Moose Party--18 Bush,
  550. Auchincloss, Gordon--107 B Bagdikian, Ben H.--61 Baker, George George--49 Bush, Prescott--49 Byrnes, James--17 C Canaris, Admiral--62
  551. F.--16, 42, 43, 47, 66, 67 Baker, George F., Jr.--66 Bank of England--32, Carr, William Guy--53, 55 Carter, Jimmy--171, 172, 173 Cassel,
  552. 42, 51, 52, 58, 59, 68, 69, 80, 123, 129, 131, 133, 142, 146, 180 Bank of Ernest--59 Cavell, Edith--72, 73 Central Bank--5 Chamberlain,
  553. France--32, 135 Banking Act of 1935--29, 159 Barnes, Julius--73, 74 Neville--78 Churchill, Winston--78, 123 Clark, Champ--29 Clay,
  554. Barron, Clarence W.--30 Baruch, Bernard--17, 26, 28, 74, 86, 89, 90, 94, John--182 Clews, Henry--50 Cooper, Kent--60 Council on Foreign
  555. 99, 109, 111, 112, 139, 147, 151 Bechtel Corporation--77, 79 Belgian Relations--35, 54, 81, 172 Crissinger, D.R.--141 Cromwell, Oliver--58
  556. Relief Commission--69, 70, 72, 73, 74, 78, 83 Belmont, August--53 Biddle, Crozier, Alfred--20 D Dabney, Charles H.--50, 51 Davison, Daniel--63
  557. Nicholas--6, 50 Bilderbergers--54, 172 Bleichroder, Samuel--59
  558. Blumenthal, George--14
  559. 197
  560. Davison, Henry P.--1, 2, 4, 33, 43, 44, 66, 103 Debs, Eugene--105 Delano, Ferdinand, Archduke--69 First Name Club--3, 8, 33 First National Bank
  561. F.A.--36, 114 Delano, Warren--36 Dodge, Cleveland H.--103, 105 Drexel, of N.Y.--1, 34, 41, 42, 44, 47, 64, 66, 67 Forbes, B.C.--2, 7 Forbes,
  562. Anthony--53 Drexel & Company--48, 54 Dulles, Allen--62, 75, 76 Dulles, Malcom--2 Forgan, James B.--41, 42 Frame, Andrew--13, 14 Francqui,
  563. John Foster--75, 81 Duncan Sherman Company--50 E Eccles, Emile--69, 70, 71, 72 G Garfield, James A.--20 Garrison, Col. Ely--22, 23,
  564. Marriner--122, 126, 159, 162, 163, 164, 167, 168, 169 Eisenhower, Dwight 120 Gates, Thomas S.--48 Glass, Carter--13, 14, 19, 21, 22, 29, 30, 34, 40,
  565. D.--75, 81 Ellery, William--48 Emden, Paul--36, 60 F Federal Advisory 45, 114, 116, 117, 138, 160 Glass-Steagall Banking Act--159 Goldenweiser,
  566. Council--6, 19, 40, 41, 42, 43, 44, 45, 113, 116, 117, 119, 128, 129, 144 Emanuel--118, 136, 146, 148 Graham, Katherine--97 Gray, Prentiss--73,
  567. Federal Reserve Act--7, 9, 15, 16, 18, 19, 21, 23, 26, 27, 28, 29, 30, 31, 33, 78 Guggenheim--90 H Hamill, John--69, 70 Hamilton, Alexander--5
  568. 34, 35, 40, 45, 64, 82, 125, 126, 139, 162, 168, 171 Federal Reserve Hamlin, Charles S.--36, 129, 138, 147 Hanauer, Jerome J.--87, 95, 99
  569. Banks--6, 8, 34, 35, 40, 41, 44, 83 Federal Reserve Board of Harding, W.P.G.--36, 103, 121, 157 Harriman, E.H.--67, 90 Harriman,
  570. Governors--6, 14, 19, 23, 29, 31, 32, 34, 35, 36, 37, 38, 39, 41, 42, 44, 45, Mary--67 Harrison, George L.--132 Herrick, Myron T.--117 Hess,
  571. 64, 78, 86, 87, 95, 112, 119, 124, 125, 126 128, 129, 133, 139, 140, 143, 144, Rudolf--78 Hill, James J.--47 Hiss, Alger--24, 83 Hiss, Donald--24 Hitler,
  572. 145, 146, 149, 154, 157, 159, 162, 163, 165, 169, 171, 172, 180 Federal Adolf--75, 76, 77, 78, 79, 81 Hoover, Herbert H.--69, 70, 71, 72, 73, 74, 78,
  573. Reserve System--5, 6, 7, 8, 19, 21, 29, 30, 32, 35, 40, 41, 42, 43, 63, 67, 82, 139, 149, 150, 151, 158 House, Col. Edward Mandel--21, 23, 24, 25, 26, 27,
  574. 84, 113, 114, 115, 118, 119, 120, 121, 122, 127, 128, 132, 134, 139, 140, 141, 29, 30, 31, 36, 79, 88, 107, 109, 111 Hull, Cordell--84
  575. 143, 146, 158, 162, 163, 164, 165, 166, 168, 169, 170, 176, 180
  576. 198
  577. I International Acceptance Bank-- 128, 144 Insull, Samuel--148 J Manati Sugar Corporation--73, 80, 81 Marbury, Bessie--155 Markoe,
  578. Jackson, Andrew--5, 50 Jaffray, C.T.--43 James, F. Cyril--42 Jefferson, James --131 Marshall, Louis--29 Martin, William McChesney--163
  579. Thomas--5, 7, 35 Jekyll Island--2, 3, 4, 5, 8, 9, 10, 11, 12, 20, 29, 33, 41, McAdoo, William--19, 21, 26, 29, 32, 39, 99, 101, 114 McFadden,
  580. 44, 171 Jekyll Island Club--3 Jones, Thomas D.--36, 38, 39 Josephson, Louis--71, 72, 74, 75, 95, 127, 128, 133, 134, 135, 136, 137, 150, 151, 152,
  581. Matthew--60, 67 Juillard, A.D.--67 K Kahn, Otto--19, 38, 66, 107 Kains, 153, 154 McIntosh, J.W.--103 Mellon, Andrew--142, 147, 150 Meyer,
  582. Archibald--43 Kaiping Coal Mines--70 Kemmerer, E.W.--85, 124 Eugene--14, 17, 34, 61, 72, 74, 75, 94, 95, 99, 118, 122, 150, 151, 152, 153,
  583. Kreuger, Ivar--71, 148, 149 Kuhn, Loeb Company--1, 17, 18, 21, 33, 35, 159, 171 Miller, Adolph C.--36, 129, 133, 134, 135, 136, 157, 166
  584. 36, 37, 38, 39, 41, 44, 47, 48, 61, 66, 67, 71, 72, 74, 81, 83, 85, 86, 87, 88, Minsky--67 Money Trust--11, 12, 16 Montague, Samuel & Co.--38, 68
  585. 89, 99, 101, 103, 119, 127, 128, 146, 174, 175 L LaFollette, Senator Robert Moody, John--47, 52 Morgan Grenfell Company--63, 68 Morgan Harjes
  586. M.--16, 17, 18 Lamont, T.W.--2, 109, 111, 128 Laughlin, J. Lawrence--10, Company--54 Morgan, J.P.--1, 2, 3, 10, 16, 17, 18, 26, 32, 35, 41, 42, 43, 44,
  587. 11, 33 Lazard Freres--14, 34, 53, 61, 68, 74, 76, 94, 99, 152 League of 47, 48, 49, 50, 51, 52, 53, 54, 66, 67, 75, 83, 101, 129, 146, 150, 160, 174, 176
  588. Nations--136, 143, 170 Leguia, Juan--155 Lehman, Herbert--101 Morgan, J.P. Company--1, 33, 35, 41, 47, 48, 53, 66, 123, 148, 174 Morgan,
  589. Lehman Brothers--35, 66, 101, 175 Lincoln, Abraham--20, 65 Lindbergh, Joseph--51 Morgan, Junius S.--50, 51, 53, 65, 66 Morton, Frederic--56
  590. Charles A., Sr.--11, 16, 17, 18, 28, 112 Loeb, Solomon--33 Lovett, Morton, Levi P.--67 Mountbatten, Philip--60 N Napoleon de
  591. Robert--48 Lundberg, Ferdinand--32 Bonaparte--57 Nation, The--12, 16, 19, 30, 37 National Bank Act of
  592. 1864--125 National Citizen’s League--10, 11 National City Bank--21, 33,
  593. 34, 41, 64, 65, 66, 112, 126, 127 National Monetary Commission--1,
  594. 199
  595. 4, 5, 10, 11, 12, 13, 14, 15, 33, 124, 125 National Recovery Act--159, 168 Richardson, Sir Gordon--80 Rickard, Edgar--74 Rionda, M.E.--73
  596. National Reserve Plan--7 New York Times--27, 28, 29, 33, 35, 37, 40, 44, Rockefeller, David--171, 172, 176 Rockefeller, John D.--47, 65 Rockefeller,
  597. 61, 71, 74, 75, 80, 112, 119, 126, 144, 166, 171 Norman, Lord William--47, 65 Rockefeller, William, Jr.--65 Roosa, Robert--54, 171, 172
  598. Montagu--49, 76, 77, 123, 129, 131, 132, 133, 142, 150 Norten, Charles Roosevelt, Franklin Delano--23, 24, 30, 31, 84, 129, 137, 139, 145, 151, 155,
  599. D.--1, 33 O O’Gorman, Senator--14, 38 Owen, Robert L.--17, 19, 29, 38, 156, 158, 159, 162, 169, 170 Roosevelt, Theodore--1, 18, 19, 22, 38, 82
  600. 39, 40, 41, 116, 119, 138, 157, 161 Owen-Glass Bill--21 P Page, Walter Rosebury, Lord--53 Rothschild, Baron Alfred--23, 60 Rothschild, House
  601. Hines--83 Panic of 1837--5, 50, 51, 65 Panic of 1857--51, 52, 65 Panic of of--17, 47, 48, 50, 52, 53, 54, 60 Rothschild, James--5, 50, 57, 59, 61, 66, 109
  602. 1907--1, 2, 5, 10, 12, 21 Paterson, William--58, 59 Patman, Wright--34, Rothschild, Leopold--60 Rothschild, Mayer Amschel--55, 56 Rothschild,
  603. 164, 165, 167 Peabody, George--49, 50, 51, 52, 54, 65, 171 Peabody, Riggs N.M.--48, 49, 51, 53, 57, 58, 59, 68, 171 Round Table--53, 54, 62 Rowe,
  604. & Co.--49 Pegler, Westbrook--23 Pemberton, Robert Leigh--80 Pound, W.S.--43, 70 Rue, Levi L.--42 Ryan, John Barry--66 Ryan, Thomas
  605. Ezra--58 Pressman, Lee--24 Princeps, Gavrel--69 Pujo, Arsene--16 Pujo Fortune--66 Ryan, Virginia Fortune--66 S Schiff, Jacob--17, 19, 26, 29, 42,
  606. Committee--16, 17, 18, 149 Pyne, Moses Taylor--66 Pyne, Percy--65, 66 47, 66, 67, 86, 87, 90, 149 Schiff, John--66 Schiff, Ludwig--87 Schiff,
  607. Q Quigley, Dr. Carrol--53, 131 R Reagan, Ronald--77, 79, 80, 173, 175 Philip--87 Schoellkopf Family--34 Scholey, David--182 Schroder, Baron
  608. Reichsbank--12, 132 Rhodes, Cecil--53 Bruno Von--69, 76 Schroder, Baron Rudolph Von--76 Schroder, J. Henry
  609. Co.--48, 67, 68, 69, 71, 73, 74, 75, 76, 77, 78, 79, 80, 81, 175, 176, 179, 180
  610. Schultz, George--79 Seligman, E.R.A.--9 Seligman, J. & W.--9, 17, 71, 109,
  611. 114, 155
  612. 200
  613. Seymour, Charles--31 Shaw, Leslie--14 Shelton--1, 2 Simpson, John Vickers Sons & Maxim--60 Viereck, George--23, 25, 27 Volcker, Paul--34,
  614. Lowery--78 Smith, Rixey--29, 112 Sontag, Susan--61 Sprague, 171, 172, 173, 183 Vreeland, Edward--12 W War Finance
  615. O.M.W.--11, 114, 161 Spring-Rice, Sir Cecil--89 St. George, George Corporation--24, 86, 94, 95, 97, 99, 151, 153 War Industries Board--74, 86,
  616. F.--66 St. George, Katherine--66 Sterling, John W.--66 Stillman, Don 90, 151 Warburg, Felix--38, 86, 87, 128, 129 Warburg, James Paul--128,
  617. Carlos--65 Stillman, James--8, 47, 65, 66 Stimson, Henry L.--161 Stone, 129, 156, 161 Warburg, M.M. Company--12, 17, 34, 54 Warburg,
  618. Senator--21 Strauss, Albert--112, 114, 122, 140, 141, 157 Strong, Max--84, 86, 87, 88, 111 Warburg, Paul Moritz--1, 2, 3, 4, 5, 6, 7, 8, 9, 12,
  619. Benjamin--1, 3, 32, 33, 44, 118, 123, 129, 131, 132, 133, 137, 138 Sugar 14, 19, 21, 22, 23, 24, 26, 28, 29, 30, 33, 34, 36, 37, 38, 40, 41, 42, 43, 44, 48,
  620. Equalization Board--74 Swinney, E.F.--43 T Taft, William Howard--18, 66, 71, 74, 84, 86, 87, 88, 89, 99, 111, 112, 115, 117, 119, 120, 122, 126, 127,
  621. 19, 38, 82 Taylor, Congressman--14 Taylor, H.A.C.--66 Taylor, 128, 138, 144, 148, 156, 157, 164 Weinberger, Caspar--79 Wetmore, Frank
  622. Moses--64, 65, 66 Tavistock Institute--80, 184, 185 Thalmman, O.--42 White, Harry Dexter--24 Williams, John Skelton--21, 32, 39, 101,
  623. Ladenburg--17 Tiarks, Frank Cyril--69, 73, 76, 77 Tientsin Railroad--72 103, 140 Willis, H. Parker--132, 140, 142 Wilson, Woodrow--10, 17, 18, 19,
  624. Tobacco Trust--89 Trilateral Commission--35, 54, 172 Tugwell, Rexford 22, 23, 24, 25, 26, 28, 29, 30, 32, 36, 38, 39, 41, 82, 83, 84, 85, 86, 87, 88, 89,
  625. Guy--162 U Untermeyer, Samuel--17, 18 U.S. Food Administration--73, 90, 99, 101, 103, 105, 107, 109, 111, 112, 117, 137, 139, 140, 141, 156 Wing,
  626. 74, 78, 87 V Vanderlip, Frank--1, 2, 3, 8, 9, 19, 33, 44, 161 Daniel S.--43 Wiseman, Sir William--73, 88, 105, 107, 111 Z Zabriskie,
  627. G.A.--73, 74
  628. 201
  629. blank
  630. 202
  631. Questions and Answers
  632. While lecturing in many countries, and appearing on radio and television programs as a guest, the author is frequently asked
  633. questions about the Federal Reserve System. The most frequently asked questions and the answers are as follows:
  634. Q: What is the Federal Reserve System?
  635. A: The Federal Reserve System is not Federal; it has no reserves; and it is not a system, but rather, a criminal syndicate. It is the
  636. product of criminal syndicalist activity of an international consortium of dynastic families comprising what the author terms "The
  637. World Order" (see "THE WORLD ORDER" and "THE CURSE OF CANAAN", both by Eustace Mullins). The Federal Reserve
  638. system is a central bank operating in the United States. Although the student will find no such definition of a central bank in the
  639. textbooks of any university, the author has defined a central bank as follows: It is the dominant financial power of the country which
  640. harbors it. It is entirely private-owned, although it seeks to give the appearance of a governmental institution. It has the right to
  641. print and issue money, the traditional prerogative of monarchs. It is set up to provide financing for wars. It functions as a money
  642. monopoly having total power over all the money and credit of the people.
  643. Q: When Congress passed the Federal Reserve Act on December 23, 1913, did the Congressmen know that they were creating a
  644. central bank?
  645. A: The members of the 63rd Congress had no knowledge of a central bank or of its monopolistic operations. Many of those who
  646. voted for the bill were duped; others were bribed; others were intimidated. The preface to the Federal Reserve Act reads "An Act to
  647. provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial
  648. papers, to establish a more effective supervision of banking in the United States, and for other purposes." The unspecified "other
  649. purposes" were to give international conspirators a monopoly of all the money and credit of the people of the United States; to
  650. finance World War I through this new central bank, to place American workers at the mercy of the Federal Reserve system’s
  651. collection agency, the Internal Revenue Service, and to allow the monopolists to seize the assets of their competitors and put them
  652. out of business.
  653. Q: Is the Federal Reserve system a government agency?
  654. A: Even the present chairman of the House Banking Committee claims that the Federal Reserve is a government agency, and that it
  655. is not privately owned. The fact is that the government has never owned a single share of Federal Reserve Bank stock. This charade
  656. stems from the fact that the President of the United States appoints the Governors of the Federal Reserve Board, who are then
  657. confirmed by the Senate. The secret author of the Act, banker Paul Warburg, a representative of the Rothschild bank, coined the
  658. name "Federal" from thin air for the Act, which he wrote to achieve two of his pet aspirations, an "elastic currency", read (rubber
  659. check), and to facilitate trading in acceptances, international trade credits. Warburg was founder and president of the International
  660. Acceptance Corporation, and made billions in profits by trading in this commercial paper. Sec. 7 of the Federal Reserve Act
  661. provides "Federal reserve banks, including the capital and surplus therein, and income derived therefrom, shall be exempt from
  662. Federal, state and local taxation, except taxes on real estate." Government buildings do not pay real estate tax.
  663. Q: Are our dollar bills, which carry the label "Federal Reserve notes" government money?
  664. A: Federal Reserve notes are actually promissory notes, promises to pay, rather than what we traditionally consider money. They are
  665. interest bearing notes issued against interest bearing government bonds, paper issued with nothing but paper backing, which is
  666. known as fiat money, because it has only the fiat of the issuer to guarantee these notes. The Federal Reserve Act authorizes the
  667. issuance of these notes "for the purposes of making advances to Federal reserve banks... The said notes shall be obligations of the
  668. United States. They shall be redeemed in gold on demand at the Treasury Department of the United States in the District of
  669. Columbia." Tourists visiting the Bureau of Printing and Engraving on the Mall in Washington, D.C. view the printing of Federal
  670. Reserve notes at this governmental agency on contract from the Federal Reserve System for the nominal sum of .00260 each in units
  671. of 1,000, at the same price regardless of the denomination. These notes, printed for a private bank, then become liabilities and
  672. obligations of the United States government and are added to our present $4 trillion debt. The government had no debt when the
  673. Federal Reserve Act was passed in 1913.
  674. Q: Who owns the stock of the Federal Reserve Banks?
  675. A: The dynastic families of the ruling World Order, internationalists who are loyal to no race, religion, or nation. They are families
  676. such as the Rothschilds, the Warburgs, the Schiffs, the Rockefellers, the Harrimans, the Morgans and others known as the elite, or
  677. "the big rich".
  678. Q: Can I buy this stock?
  679. A: No. The Federal Reserve Act stipulates that the stock of the Federal Reserve Banks cannot be bought or sold on any stock
  680. exchange. It is passed on by inheritance as the fortune of the "big rich". Almost half of the owners of Federal Reserve Bank stock
  681. are not Americans.
  682. Q: Is the Internal Revenue Service a governmental agency?
  683. A: Although listed as part of the Treasury Department, the IRS is actually a private collection agency for the Federal Reserve
  684. System. It originated as the Black Hand in mediaeval Italy, collectors of debt by force and extortion for the ruling Italian mob
  685. families. All personal income taxes collected by the IRS are required by law to be deposited in the nearest Federal Reserve Bank,
  686. under Sec. 15 of the Federal Reserve Act, "The moneys held in the general fund of the Treasury may be ....deposited in Federal
  687. reserve banks, which banks, when required by the Secretary of the Treasury, shall act as fiscal agents of the United States."
  688. Q: Does the Federal Reserve Board control the daily price and quantity of money?
  689. A: The Federal Reserve Board of Governors, meeting in private as the Federal Open Market Committee with presidents of the
  690. Federal Reserve Banks, controls all economic activity throughout the United States by issuing orders to buy government bonds on
  691. the open market, creating money out of nothing and causing inflationary pressure, or, conversely, by selling government bonds on
  692. the open market and extinguishing debt, creating deflationary pressure and causing the stock market to drop.
  693. Q: Can Congress abolish the Federal Reserve System?
  694. A: The last provision of the Federal Reserve Act of 1913, Sec. 30, states, "The right to amend, alter or repeal this Act is expressly
  695. reserved." This language means that Congress can at any time move to abolish the Federal Reserve System, or buy back the stock
  696. and make it part of the Treasury Department, or to altar the System as it sees fit. It has never done so.
  697. Q: Are there many critics of the Federal Reserve beside yourself?
  698. A: When I began my researches in 1948, the Fed was only thirty-four years old. It was never mentioned in the press. Today the Fed is
  699. discussed openly in the news section and the financial pages. There are bills in congress to have the Fed audited by the Government
  700. Accounting Office. Because of my expose, it is no longer a sacred cow, although the Big Three candidates for President in 1992,
  701. Bush, Clinton and Perot, joined in a unanimous chorus during the debates that they were pledged not to touch the Fed.
  702. Q: Have you suffered any personal consequences because of your expose of the Fed?
  703. A: I was fired from the staff of the Library of Congress after I published this expose in 1952, the only person ever discharged from
  704. the staff for political reasons. When I sued, the court refused to hear the case. The entire German edition of this book was burned in
  705. 1955, the only book burned in Europe since the Second World War. I have endured continuous harassment by government agencies,
  706. as detailed in my books "A WRIT FOR MARTYRS" and "MY LIFE IN CHRIST". My family also suffered harassment. When I
  707. spoke recently in Wembley Arena in London, the press denounced me as "a sinister lunatic".
  708. Q: Does the press always support the Fed?
  709. A: There have been some encouraging defections in recent months. A front page story in the Wall Street Journal, Feb. 8, 1993,
  710. stated, "The current Fed structure is difficult to justify in a democracy. It’s an oddly undemocratic institution. Its organization is so
  711. dated that there is only one Reserve bank west of the Rockies, and two in Missouri...Having a central bank with a monopoly over the
  712. issuance of the currency in a democratic society is a very difficult balancing act."
  713. Congressman McFadden
  714. on the Federal Reserve Corporation
  715. Remarks in Congress, 1934
  716. AN ASTOUNDING EXPOSURE
  717. http://home.hiwaay.net/%7Ebecraft/mcfadden.html
  718. The Bankruptcy of the United States
  719. http://www.apfn.net/Doc-100_bankruptcy.htm
  720. The Fed, The Fed, The Fed
  721. http://www.gold-eagle.com/editorials_01/sennholz040301.html
  722. The Declaration of Independence
  723. http://www.apfn.org/apfn/declaration.htm
  724. The Federal Reserve - What Is It? Who Is It?
  725. http://www.the-oil-patch.com/archive/federal-reserve.html
  726. The Coming Battle (The Book)
  727. http://www.apfn.org/apfn/comingbattle.htm
  728. The United Nations plans to CONFISCATE your profit and ---.
  729. http://www.apfn.org/apfn/united_nations.htm
  730. The 545 People Responsible For All of America's Woes
  731. http://www.apfn.org/apfn/woes.htm
  732. Subscribe to apfn
  733. Powered by groups.yahoo.com
  734. AMERICAN PATRIOT FRIENDS NETWORK
  735. APFN CONTENTS PAGE
  736. APFN MESSAGE BOARD
  737. E-Mail: [email protected]
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