Historical Analysis of the Global Elites: Ransacking the World Economy Until ‘You’ll Own Nothing’ (2)

Read the first part of the article

The Rothschild family is not the only family that uses its wealth to exercise enormous economic and political power and to profit from war, but the evidence suggests that it has long been the most deeply entrenched in the institutions, including those it has created, that facilitate the exercise of this power. Moreover, it is linked to many other wealthy families through a multitude of arrangements as will be shown.

Balmoral Castle: Queen Elizabeth’s favourite holiday home

Consider the following examples of how the power of wealth is exercised and note the names of some other wealthy families.

Invariably working ‘in the background’, elite figures spend considerable time manipulating ‘well-positioned’ people, and none are more adept at this than the Rothschilds. To cite just one of many examples, both the great estates of Balmoral and Sandringham, so intimately associated with the British royal family, were facilitated, if not entirely paid for, through the largess of the House of Rothschild, thus maintaining the long-standing Rothschild tradition of gifting ‘loans’ – that is, bribes, as the brothers had long before privately acknowledged – to royalty (and other key officials).

Of course, this manipulation of people is done to ensure the creation of particular institutions or to precipitate or facilitate a particular sequence of events. Just one obvious example of this occurred when the British government was manipulated into the Boer War of 1899-1902 by the secret society of Cecil Rhodes, as it was originally known and of which Lord (Nathan) Rothschild was a founding member along with Alfred, later Lord, Milner who succeeded Rhodes as head of this exclusive secret club.

While the British public was given a more palatable pretext for this war via the media, it was fundamentally fought to defend and consolidate the rich South African gold-mining interests of wealthy businesspeople, including the Rothschilds. By the time the war ended, the Transvaal’s gold was finally in their hands. The cost? “32,000 deaths in the concentration camps, [of whom more than 26,000 were women and children]; 22,000 British Empire troops were killed and 23,000 wounded. Boer casualties numbered 34,000. Africans killed amounted to 14,000.” (Hidden History: The Secret Origins of the First World War, pp. 23, 38-50 and The Anglo-American Establishment: From Rhodes to Cliveden).

The US Federal Reserve System

In his classic work The Creature from Jekyll Island: A Second Look at the Federal Reserve, in which he describes the formation, structure and function of the US Federal Reserve System, which governs banking in the United States, G. Edward Griffin identified the seven men and who they represented, at the secret meeting held at the private resort of J.P. Morgan on Jekyll Island off the coast of Georgia in November 1910 when the System was conceived (and later passed as The Federal Reserve Act in 1913).

US Federal Reserve

The seven men at this meeting represented the great financial institutions of Wall Street and, indirectly, Europe as well: that is, they represented one-quarter of the total wealth of the entire world. They were Nelson W. Aldrich, Republican ‘whip’ in the US Senate, Chair of the National Monetary Commission and father-in-law of John D. Rockefeller Jr.; Henry P. Davison, senior partner of J.P. Morgan Company; Charles D. Norton, President of the 1st National Bank of New York; A. Piatt Andrew, Assistant Secretary of the Treasury; Frank A. Vanderlip, President of the National City Bank of New York, representing William Rockefeller; Benjamin Strong, head of J.P. Morgan’s Bankers Trust Company and later to become head of the System; and Paul M. Warburg, a partner in Kuhn, Loeb & Company, representing the Rothschilds and Warburgs in Europe.

But lest you think that there is some ‘diversity’ here, long-standing ties generated from huge financial injections at crucial times meant that several other key banks owed much to Rothschild wealth. For example, in 1857 a run on U.S. banks saw the bank Peabody, Morgan and Company in deep trouble as four other banks were driven out of business. But Peabody, Morgan and Company was saved by the Bank of England. Why? Who initiated the rescue? According to Docherty and Macgregor, “The Rothschilds held immense sway in the Bank of England and the most likely answer is that they intervened to save the firm. Peabody retired in 1864, and Junius Morgan inherited a strong bank with powerful links to Rothschild.” Junius was the father of J.P. Morgan. (Hidden History: The Secret Origins of the First World War, p. 222).

A similar situation occurred when Nathaniel Rothschild headed the Bank of England committee that rescued Barings Bank from imminent collapse in 1890. But other big banks “were beholden to or fronts for the Rothschilds. Like J.P. Morgan, Barings and Kuhn Loeb, the M.M. Warburg Bank owed its survival and ultimate success to Rothschild money.” To reiterate then: “by the early twentieth century numerous major banks, including J.P. Morgan and Barings, and armaments firms, were beholden to or fronts for the Rothschilds.” And this had many advantages. J.P. Morgan, who was deeply involved with the Pilgrims – an exclusive club that linked major U.K. and U.S. businesspeople – was clearly perceived as an upright Protestant guardian of capitalism, who could trace his family roots to pre-Revolutionary times, so by acting in the interests of the London Rothschilds he shielded their American profits from the poison of anti-Semitism.

But the connections do not end there. Superficially, “there were periods of blistering competition between the investment and banking houses, the steel companies, the railroad builders and the two international goliaths of oil, Rockefeller and Rothschilds, but by the turn of the century the surviving conglomerates adopted a more subtle relationship, which avoided real competition.” A decade earlier, Baron de Rothschild had accepted an invitation from John D. Rockefeller to meet in New York behind the closed doors of Standard Oil’s headquarters on Broadway where they had quickly reached a confidential agreement. “Clearly both understood the advantage of monopolistic collusion.” The apparent rivalry between major stakeholders in banking, industry and commerce has long been a convenient facade, which they are content to leave much of the world believing. (Hidden History: The Secret Origins of the First World War, pp. 222-225)

Beyond business and financial links of this nature, of course, there is marriage. For example, according to Dean Henderson: “The Warburgs, Kuhn Loebs, Goldman Sachs, Schiffs and Rothschilds have intermarried into one big happy banking family. The Warburg family tied up with the Rothschilds in 1814 in Hamburg, while Kuhn Loeb powerhouse Jacob Schiff shared quarters with Rothschilds in 1785. Schiff immigrated to America in 1865. He joined forces with Abraham Kuhn and married Solomon Loeb’s daughter. Loeb and Kuhn married each others’ sisters and the Kuhn Loeb dynasty was consummated. Felix Warburg married Jacob Schiff’s daughter. Two Goldman daughters married two sons of the Sachs family, creating Goldman Sachs. In 1806 Nathan Rothschild married the oldest daughter of Levi Barent Cohen, a leading financier in London.” (Big Oil and Their Bankers in the Persian Gulf: Four Horsemen, Eight Families and Their Global Intelligence, Narcotics and Terror Network, p. 488)

So to return to the foundation of the US Federal Reserve System, according to Griffin:

The reason for secrecy was simple. Had it been known that rival factions of the banking community had joined together, the public would have been alerted to the possibility that the bankers were plotting an agreement in restraint of trade – which, of course, is exactly what they were doing.

What emerged was a cartel agreement with five objectives:

  • stop the growing competition from the nation’s newer banks;
  • obtain a franchise to create money out of nothing for the purpose of lending;
  • get control of the reserves of all banks so that the more reckless ones would not be exposed to currency drains and bank runs;
  • get the taxpayer to pick up the cartel’s inevitable losses;
  • convince Congress that the purpose was to protect the public.

It was realized that the bankers would have to become partners with the politicians and that the structure of the cartel would have to be a central bank. The record shows that the Fed has failed to achieve its stated objectives. That is because those were never its true goals. As a banking cartel, and in terms of the five objectives stated above, it has been an unqualified success.”

To reiterate Griffin’s key point: “a primary objective of that cartel was to involve the federal government as an agent for shifting the inevitable losses from the owners of those banks to the taxpayers.” And this is confirmed by the “massive evidence of history since the System was created”.

Or, in the words of economics Professor Antony C. Sutton, who carefully detailed the longstanding links between Wall Street and the family of US President Franklin D. Roosevelt, including Roosevelt himself (a banker and speculator from 1921 to 1928): “The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of a few under the guise of protecting and promoting the public interest.” (Wall Street and F.D.R.)

And, as U.S. Congressman Louis Thomas McFadden, chairman of the House Committee on Banking and Currency, observed in 1932: “When the Federal Reserve Act was passed, the people of the United States did not perceive that this country was to supply financial power to an international superstate – a superstate controlled by international bankers and international industrialists acting together to enslave the world for their own pleasure.” (Speech by Rep. Louis T. McFadden denouncing the Federal Reserve System)

Equally importantly, creation of the Federal Reserve was just one of many preliminary steps taken over a 25-year period by a select group of men in key positions who conspired to ignite The Great War to both shape the future world order and profit enormously from the death and destruction. You can read detailed accounts of what took place, including key players, their motives and instigation of the Boer War in South Africa, touched on above, as part of the process, in books such as these:

  • Hidden History: The Secret Origins of the First World War,
  • The Anglo-American Establishment: From Rhodes to Cliveden,
  • The House of Rothschild – Volume 2 – The World’s Banker, 1849-1998,
  • Prolonging the Agony: How the Anglo-American Establishment Deliberately Extended WWI by Three-and-a-Half Years.

There is also a thoughtful summary in A crime against humanity: the Great Reset of 1914-1918 and an excellent video on the subject: The WWI Conspiracy.

The primary cost of World War I was 20 million human lives, while it was immensely profitable for some of its perpetrators.

The Bank for International Settlements

Another critical development in this period was the creation of the Bank for International Settlements (BIS) – as “the central bank of central banks” – in 1930. As described by Professor Carroll Quigley, the BIS was the apex of efforts by elite bankers “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.”

But the push started many years before with Montagu Norman (Bank of England) and Benjamin Strong (the first governor of the Federal Reserve Bank of New York) both committed advocates. “In the 1920s, they were determined to use the financial power of Britain and of the United States to force all the major countries of the world to go on the gold standard and to operate it through central banks free from all political control, with all questions of international finance to be settled by agreements by such central banks without interference from governments.”

This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.

Each central bank, in the hands of men like Montagu Norman of the Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbank, sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world. The B.I.S. as a private institution was owned by the seven chief central banks and was operated by the heads of these, who together formed its governing board.

But, Quigley points out:

It should not be felt that these heads of the world’s chief central banks were themselves substantive powers in world finance. They were not. Rather, they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down.

The substantive financial powers of the world were in the hands of these investment bankers (also called ‘international’ or ‘merchant’ bankers) who remained largely behind the scenes in their own unincorporated private banks.

These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the re-discounting of commercial debts; they could dominate governments by their control over current government loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coupe, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates. In this system the Rothschilds had been preeminent during much of the nineteenth century.” (Tragedy & Hope: A History of the World in Our Time, pp. 242-3 & 245)

Ensuring that this select group of international bankers could operate without any form of accountability to any other authority in the world, the BIS Headquarters Agreement with Switzerland Articles 4 and 12 specifically identify a range of “privileges and immunities” that, among others, provide that “The Bank shall enjoy immunity from jurisdiction” and “members of the Board of Directors of the Bank, together with the representatives of those central banks which are members of the Bank” with “immunity from arrest or imprisonment”. (Agreement between the Swiss Federal Council and the Bank for International Settlements to determine the Bank’s legal status in Switzerland)

In plain language, the BIS and its members are beyond the reach of governments, key international organizations and the rule of law. They are accountable to no-one. And this is why the BIS was never held to account for its commission of war crimes. (History – the BIS during the Second World War 1939-48). For an excellent and detailed account of the Bank for International Settlements, see Adam LeBor’s Tower of Basel: The Shadowy History of the Secret Bank that Runs the World.

Beyond this, as Sutton notes, because politicians sympathetic to financial capitalism and academics with ideas about world control are kept in line with a system of rewards and penalties, “in the early 1930s the guiding vehicle for this international system of financial and political control” was the BIS, headquartered in Basle. The BIS “continued its work during World War II as the medium through which the bankers – who were not at war with each other – continued a mutually beneficial exchange of ideas, information, and planning for the post-war world.” In this sense only, the war was irrelevant to them. (Wall Street and The Rise of Hitler, pp. 11-12)

So while elite figures, including the Rothschilds, continued to shape institutions and events to restructure world order and make it more profitable for themselves, virtually everyone else in the world was an unwitting victim of their secret programs, many at the cost of their own life.

A notable exception was US Major General Smedley Butler who at least spelled out the critical role that war played in wealth creation for the elite. Following more than three decades of highly-decorated service in the US Marine Corp, Butler later described his experience in the following terms: “I spent most of my time being a high-class muscle man for Big Business, for Wall Street and for the bankers. In short, I was a racketeer for capitalism.

In his book published in 1935, he wrote:

War is a racket. It always has been. It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one in which the profits are reckoned in dollars and the losses in lives. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.”

He went on to describe some of the persons and corporations that made huge profits out of World War I.

Read the third part of the article

Analysis by Robert J. Burrowes


February 2, 2023


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