“Via the BIS, the American and British bankers would maintain a mostly secret friendship with their Nazi and Japanese counterparts straight through World War II while thousands and thousands of American and British men in uniform were being killed and maimed in the fight to defeat the Nazis and Japanese.”
John Strausbaugh, Victory City, A History Of New York and New Yorkers During World War II
Except they were mostly Jewish Germans with no real loyalty to either America, UK, Germany or even Jewry.
In its early years, intermarriage among the German-Jewish elite was common. Consequently, the partners of Kuhn, Loeb were closely related by blood and marriage to the partners of J & W Seligman, Speyer & Co., Goldman, Sachs & Co., Lehman Brothers and other prominent German-Jewish firms. Prior to the Second World War, a particularly close relationship existed between the partners of Kuhn, Loeb and M. M. Warburg & Co. of Hamburg, Germany, through Paul and Felix, who were Kuhn, Loeb partners. Later on, following World War II, their cousin Sigmund Warburg would briefly continue this relationship as a partner and Executive Director of the firm.
Wikipedia
This chapter explores the conflicting pressures to which the American investment banking firm Kuhn, Loeb and Company was exposed during the period of American neutrality preceding US entry into World War I. All the partners were of German Jewish origin. Two, Paul M. Warburg and Felix M. Warburg, were brothers of Max M. Warburg, who was heavily involved in financing the German war effort. Others, including the senior partner Jacob H. Schiff, were emigres from Germany. Some, however, especially partner Otto H. Kahn, were staunchly anglophile in outlook. Many Wall Street bankers, notably the pre-eminent investment bank J. P. Morgan and Company, were fiercely pro-Allied in sympathy, and put heavy pressure on Kuhn, Loeb to participate in Allied war loans. Their German associates, however, Kuhn, Loeb to abstain from such business, and if possible to take part in German war financing. With partners in the firm divided, Kuhn, Loeb tried to remain neutral. The firm did not invest in Allied war loans. Jacob Schiff, a leading member of the Jewish community, stated that this stance did not reflect any sympathies with Germany, but the fact that Tsarist Russia, notorious for its persecution of its Jewish minority, was one of the Allies. Meanwhile, certain individual partners made well-publicized purchases of these securities.
A CONFLICT OF LOYALTIES: KUHN, LOEB & COMPANY AND THE FIRST WORLD WAR, 1914-1917. IN STUDIES IN THE AMERICAN JEWISH EXPERIENCE II: CONTRIBUTIONS FROM THE FELLOWSHIP PROGRAMS OF THE AMERICAN JEWISH ARCHIVES, EDS. ABRAHAM J. PECK AND JACOB RADER MARCUS. ROWMAN AND LITTLEFIELD, 1984, PP. 1-32, 169-182.
THE SHORT COURSE:
(MY EDIT)
“The BIS would shelter hundreds of millions of dollars in Nazi gold, stolen from conquered nations and from slaughtered Jews (including dental fillings, jewelry, and such).”
John Strausbaugh, Victory City, A History Of New York and New Yorkers During World War II
Also:
THE LONG COURSE:
“BANKING WITH HITLER” – DOCUMENTARY / HISTORY CHANNEL
371 Swiss banks stand accused of collaborating with the Nazis during World War II. This was suspected at the time by by U.S. Secretary of Treasury Henry Morgenthau, who began investigating this collaboration. He found the Swiss were not alone. His archives reveal that both British and American bankers continued to do business with Hitler, even as Germany was invading Europe and bombing London.
This investigative film next shows in detail the roles played by the Anglo-German banking clique. Key members of the Bank of England together with their German counterparts established the BIS, the Bank for International Settlement, which laundered the plundered gold of Europe. On its board were key Nazis such as Walther Funk and Hjalamar Schact The president of BIS was an American, Thomas McKittrick, who readily socialized with leading Nazis. Not only the BIS, but other allied banks worked hand in hand with the Nazis. One of the biggest American banks kept a branch open in Occupied Paris and, with full knowledge of the managers in the U.S., froze the accounts of French Jews. Deprived of money to escape France, many ended up in death camps.
When Pres. Roosevelt died in April 1945, Morgenthau lost his protector and his crusade against the banks came to an end. He was further weakened when men in his department were accused of being Communists during the McCarthy era. This incredible story contains interviews with surviving members of banking families and Morgenthau’s investigative team as well as newly found archive material.
The leader of the BIS during the war was a Wall Streeter named Thomas McKittrick.
“He traveled freely in Nazi territory and in Mussolini’s Italy during the war. In 1943, U-Boats received orders not to meddle with the ship that carried him back to NY for high-level meetings to discuss BIS business, after which he traveled to Berlin for a debriefing at the Reichsbank.”
When the war ended, McKittrick was made Vice President at the Rockefeller’s Chase National Bank. He couldn’t have picked a more suitable employer.
It turns out six months before Hitler invaded Poland, Chase Bank wired $25 million for his war machine.
Chase and J.P. Morgan weren’t done in their role as Hitler’s private bankers.
“When Germany occupied France in 1940, most American businesses there left. Chase and J.P. Morgan kept their banks in France open for the duration. They did business with and for the Nazi occupiers, from seizing the accounts of Jewish customers to funding the Gestapo’s brutal activities against the Franch people.”
Evidently, one of Chase’s growth strategies targeted Nazi-occupied France.
The Daily News reported:
“The relationship between Chase and the Nazis apparently was so cozy that Carlos Niedermann, the Chase branch chief in Paris, wrote his supervisor in Manhattan that the bank enjoyed “very special esteem” with top German officials and “a rapid expansion of deposits,” according to Newsweek. Niedermann’s letter was written in May 1942 five months after the Japanese bombed Pearl Harbor and the U.S. also went to war with Germany.”
Sometimes Wall Street gets a bad rap, often serving as a scapegoat for populist leaders looking to rally the troops against a pretty unlikable foe.
Sadly, this isn’t one of those cases. – Source: Victory City by John Strausbaugh
THE TOWER OF BASEL
James J Puplava with Adam LeBor, author of “Tower of Basel – The Shadowy History of the Secret Bank That Runs the World”
A Very Unauthorized History of the Bank for International Settlements (BIS) in Switzerland
“In a special reprise edition of the Financial Sense Newshour from earlier this year, Jim welcomes journalist Adam LeBor, author of “Tower of Basel”, a very unauthorized history of the Bank for International Settlements (BIS) in Basel, Switzerland. For many decades it has stood at the center of a global network of money, power and covert global influence. LeBor and others call it the most important bank the world. The BIS predates both the IMF and the World Bank, yet very few have heard of it or knows what it does. The BIS helped finance the Nazi war machine before, and during, WWII. It also hosted much of the planning and technical preparation for the Euro. LeBor believes without the BIS, the Euro would likely not exist. The bank is also immensely profitable, making over a billion dollars tax-free in 2012, from a very small number of important customers. The BIS continues to host the world’s most powerful central bankers every year in Basel.”
Never mind the Czech gold the Nazis stole…
The Bank for International Settlements actually financed Hitler’s war machine
By Adam Lebor, The Telegraph, 31 Jul 2013
The documents reveal a shocking story: just six months before Britain went to war with Nazi Germany, the Bank of England willingly handed over £5.6 million worth of gold to Hitler – and it belonged to another country.
The official history of the bank, written in 1950 but posted online for the first time on Tuesday, reveals how we betrayed Czechoslovakia – not just with the infamous Munich agreement of September 1938, which allowed the Nazis to annex the Sudetenland, but also in London, where Montagu Norman, the eccentric but ruthless governor of the Bank of England agreed to surrender gold owned by the National Bank of Czechoslovakia.
The Czechoslovak gold was held in London in a sub-account in the name of the Bank for International Settlements, the Basel-based bank for central banks. When the Nazis marched into Prague in March 1939 they immediately sent armed soldiers to the offices of the National Bank. The Czech directors were ordered, on pain of death, to send two transfer requests.
The first instructed the BIS to transfer 23.1 metric tons of gold from the Czechoslovak BIS account, held at the Bank of England, to the Reichsbank BIS account, also held at Threadneedle Street.
The second order instructed the Bank of England to transfer almost 27 metric tons of gold held in the National Bank of Czechoslovakia’s own name to the BIS’s gold account at the Bank of England.
To outsiders, the distinction between the accounts seems obscure. Yet it proved crucial – and allowed Norman to ensure that the first order was carried out. The Czechoslovak bank officials believed that as the orders had obviously been carried out under duress neither would be allowed to go through. But they had not reckoned on the bureaucrats running the BIS and the determination of Montagu Norman to see that procedures were followed, even as his country prepared for war with Nazi Germany.
His decision caused uproar, both in the press and in Parliament. George Strauss, a Labour MP, spoke for many when he thundered in Parliament: “The Bank for International Settlements is the bank which sanctions the most notorious outrage of this generation – the rape of Czechoslovakia.” Winston Churchill demanded to know how the government could ask its citizens to enlist in the military when it was “so butter-fingered that £6 million worth of gold can be transferred to the Nazi government”.
It was a good question. Thanks to Norman and the BIS, Nazi Germany had just looted 23.1 tons of gold without a shot being fired. The second transfer order, for the gold held in the National Bank of Czechoslovakia’s own name, did not go through. Sir John Simon, the Chancellor of the Exchequer, had instructed banks to block all Czechoslovak assets.
WIKIPEDIA
The documents released by the Bank of England are revealing, both for what they show and what they omit. They are a window into a world of fearful deference to authority, the primacy of procedure over morality, a world where, for the bankers, the most important thing is to keep the channels of international finance open, no matter what the human cost. A world, in other words, not entirely different to today.
The BIS was founded in 1930, in effect by Montagu Norman and his close friend Hjalmar Schacht, the former president of the Reichsbank, known as the father of the Nazi economic miracle. Schacht even referred to the BIS as “my” bank. The BIS is a unique hybrid: a commercial bank protected by international treaty. Its assets can never be seized, even in times of war. It pays no taxes on profits. The Czechoslovaks believed that the BIS’s legal immunities would protect them. But they were wrong.
The Bank of England’s historian argued that to refuse the transfer order would have been a breach of Britain’s treaty obligations with regard to the BIS. In fact there was a powerful counter-argument that the Nazi invasion of Czechoslovakia had rendered any such obligations null and void as the country no longer existed.
A key sentence in the Bank of England documents is found on page 1,295. It reads: “The general attitude of the Bank of England directors of the BIS during the war was governed by their anxiety to keep the BIS to play its part in the solution of post-war problems”. And here the secret history of the BIS and its strong relationship with the Bank of England becomes ever more murky.
During the war the BIS proclaimed that it was neutral, a view supported by the Bank of England. In fact the BIS was so entwined with the Nazi economy that it helped keep the Third Reich in business. It carried out foreign exchange deals for the Reichsbank; it accepted looted Nazi gold; it recognised the puppet regimes installed in occupied countries, which, together with the Third Reich, soon controlled the majority of the bank’s shares.
Indeed, the BIS was so useful for the Nazis that Emil Puhl, the vice-president of the Reichsbank and BIS director, referred to the BIS as the Reichsbank’s only “foreign branch”.
The BIS’s reach and connections were vital for Germany. So much so, that all through the war, the Reichsbank continued paying interest on the monies lent by the BIS. This interest was used by the BIS to pay dividends to shareholders – which included the Bank of England. Thus, through the BIS, the Reichsbank was funding the British war economy. After the war, five BIS directors were tried for war crimes, including Schacht. “They don’t hang bankers,” Schacht supposedly said, and he was right – he was acquitted.
Buried among the typewritten pages of the Bank of England’s history is a name of whom few have ever heard, a man for whom, like Montagu Norman, the primacy of international finance reigned over mere national considerations.
Thomas McKittrick, an American banker, was president of the BIS. When the United States entered the war in December 1941, McKittrick’s position, the history notes, “became difficult”. But McKittrick managed to keep the bank in business, thanks in part to his friend Allen Dulles, the US spymaster based in Berne. McKittrick was an asset of Dulles, known as Codename 644, and frequently passed him information that he had garnered from Emil Puhl, who was a frequent visitor to Basel and often met McKittrick.
Declassified documents in the American intelligence archives reveal an even more disturbing story. Under an intelligence operation known as the “Harvard Plan”, McKittrick was in contact with Nazi industrialists, working towards what the US documents, dated February 1945, describe as a “close cooperation between the Allied and German business world”.
Thus while Allied soldiers were fighting through Europe, McKittrick was cutting deals to keep the Germany economy strong. This was happening with what the US documents describe as “the full assistance” of the State Department.
The Bank of England history also makes disparaging reference to Harry Dexter White, an official in the Treasury Department, who was a close ally of Henry Morgenthau, the Treasury Secretary. Morgenthau and White were the BIS’s most powerful enemies and lobbied hard at Bretton Woods in July 1944, where the Allies met to plan the post-war financial system, for the BIS to be closed.White, the Bank history notes rather sneeringly, had said of the BIS: “There is an American president doing business with the Germans while our boys are fighting the Germans.”
Aided by its powerful friends, such as Montagu Norman, Allen Dulles and much of Wall Street, the BIS survived the attempts by Morgenthau and White to close it down. The bank’s allies used precisely the argument detailed on page 1,295 of the Bank of England’s history: the BIS was needed to plan the post-war European economy.
From the 1950s to the 1990s the BIS hosted much of the planning and technical preparation for the introduction of the euro. Without the BIS the euro would probably not exist. In 1994, Alexander Lamfalussy, the former BIS manager, set up the European Monetary Institute, now known as the European Central Bank.
The BIS remains very profitable. It has only about 140 customers (it refuses to say how many) but made a tax-free profit of about £900 million last year. Every other month it hosts the Global Economy Meetings, where 60 of the most powerful central bankers, including Mark Carney, Governor of the Bank of England, meet. No details of meetings are released, even though the attendees are public servants, charged with managing national economies.
The BIS also hosts the Basel Committee on Banking Supervision, which regulates commercial banks, and the new Financial Stability Board, which coordinates national regulatory authorities. The BIS has made itself the central pillar of the global financial system.
Montagu Norman and Hjalmar Schacht would be very proud indeed.
Adam LeBor is the author of ‘Tower of Basel: The Shadowy History of the Secret Bank That Runs the World’, published by PublicAffairs
Following his retirement, he was raised to the peerage as Baron Norman, of St Clere in the County of Kent, on 13 October 1944. In addition to receiving the Distinguished Service Order, Norman was sworn of the Privy Council in 1923 and was created a Grand Officer of the Order of the Crown.
Wikipedia
Let me rephrase that: The Nazi-loving chief of Bank of England was anointed among Crown’s most trusted dozen, having only the Jewish-blooded queen and princes above him.
From “Secrets of the Federal Reserve – The history, organization and controlling interests behind the Federal Reserve”, by: Eustace Mullins, 1983, we find out that…
<<Chairman McFadden informed the House of a dispatch in the Public Ledger of Philadelphia, October 24, 1931, “GERMAN REVEALS HOOVER’S SECRET. The American President was in intimate negotiations with the German government regarding a year’s debt holiday as early as December, 1930.” McFadden continued,
“Behind the Hoover announcement there were many months of hurried and furtive preparations both in Germany and in Wall Street offices of German bankers. Germany, like a sponge, had to be saturated with American money. Mr. Hoover himself had to be elected, because this scheme began before he became President. If the German international bankers of Wall Street — that is Kuhn Loeb Company, J. & W. Seligman, Paul Warburg, J. Henry Schroder — and their satellites had not had this job waiting to be done, Herbert Hoover would never have been elected President of the United States.
The election of Mr. Hoover to the Presidency was through the influence of the Warburg Brothers, directors of the great bank of Kuhn Loeb Company, who carried the cost of his election. In exchange for this collaboration Mr. Hoover promised to impose the moratorium of German debts. Hoover sought to exempt Kreuger’s loan to Germany of $125 million from the operation of the Hoover Moratorium. The nature of Kreuger’s swindle was known here in January when he visited his friend, Mr. Hoover, in the White House.”
Not only did Hoover entertain Francqui in the White House, but also Ivar Kreuger, the most famous swindler of the twentieth century.
…
On December 13, 1932, Chairman McFadden introduced a resolution of impeachment against President Hoover for high crimes and misdemeanors, which covers many pages, including violation of contracts, unlawful dissipation of the financial resources of the United States, and his appointment of Eugene Meyer to the Federal Reserve Board. The resolution was tabled and never acted upon by the House.
In criticizing Hoover’s Moratorium of German War Debts, McFadden had referred to Hoover’s “German” backers. Although all of the principals of “the London Connection” did originate in Germany, most of them in Frankfurt, at the time they sponsored Hoover’s candidacy for the Presidency of the United States, they were operating from London, as Hoover himself had done for most of his career.
Also, the Hoover Moratorium was not intended to “help” Germany, as Hoover had never been “pro-German”. The Moratorium on Germany’s war debts was necessary so that Germany would have funds for rearming. In 1931, the truly forward-looking diplomats were anticipating the Second World War, and there could be no war without an “aggressor”.
Hoover had also carried out a number of mining promotions in various parts of the world as a secret agent for the Rothschilds, and had been rewarded with a directorship in one of the principal Rothschild enterprises, the Rio Tinto Mines in Spain and Bolivia.
Francqui and Hoover threw themselves into the seemingly impossible task of provisioning Germany during the First World War. Their success was noted in Nordeutsche Allgemeine Zeitung, March 13, 1915, which noted that large quantities of food were now arriving from Belgium by rail. Schmoller’s “Yearbook for Legislation, Administration and Political Economy” for 1916, shows that 1 billion pounds of meat, 1.5 billion pounds of potatoes, 1.5 billion pounds of bread, and 121 million pounds of butter had been shipped from Belgium to Germany in that year.
A patriotic British woman who had operated a small hospital in Belgium for several years, Edith Cavell, wrote to the Nursing Mirror in London, April 15, 1915, complaining that the “Belgian Relief” supplies were being shipped to Germany to feed the German army. The Germans considered Miss Cavell to be of no importance, and paid no attention to her, but the British Intelligence Service in London was appalled by Miss Cavell’s discovery, and demanded that the Germans arrest her as a spy.
Sir William Wiseman, head of British Intelligence, and partner of Kuhn Loeb Company, feared that the continuance of the war was at stake, and secretly notified the Germans that Miss Cavell must be executed. The Germans reluctantly arrested her and charged her with aiding prisoners of war to escape. The usual penalty for this offense was three months imprisonment, but the Germans bowed to Sir William Wiseman’s demands, and shot Edith Cavell, thus creating one of the principal martyrs of the First World War.
With Edith Cavell out of the way, the “Belgian Relief” operation continued, although in 1916, German emissaries again approached London officials with the information that they did not believe Germany could continue military operations, not only because of food shortages, but because of financial problems. More “emergency relief” was sent, and Germany continued in the war until November, 1918.>>
Mr. Paul M. Warburg Seriously Ill: Founder of American Federal Reserve Bank System and Brother of FeLIX WARBURG
JEWISH TELEGRAPHIC AGENCY, January 15, 1932
Mr. Paul M. Warburg, the famous banker, who was the initiator of the American Federal Reserve Bank System, a brother of Mr. Felix M. Warburg and of Herr Max Warburg, is seriously ill with pneumonia, and his condition is causing extreme anxiety.
Mr. Warburg is 63 years of age.
If Americans were in the habit of conferring titles of distinction on creative thinkers, Paul M. Warburg would have been accorded this honour for his work in the introduction of the Currency Reform in the United States which culminated in the Federal Reserve System, Professor Edwin R. A. Seligman of Columbia University wrote in the “New York Evening Post” in 1927.
Mr. Warburg, who like all his brothers, bears the middle name Moritz, which was the name of their father, was a member of the Kuhn, Loeb banking firm (Mrs. Warburg was before her marriage Nita Loeb) resigning all his directorships, trusteeships, etc. when he was appointed by President Wilson in 1914 as a member of the Federal Reserve Board. In 1917 he was appointed a member of the United States Section of the International High Commission.
A year ago, Mr. Warburg delivered a speech in New York decrying the American isolation theory and advising the United States to seek larger international co-operation and courageous action to help the world to emerge from the stagnation into which it has fallen.
When Mr. Henry Ford was still conducting his antisemitic campaign, he launched an attack on Mr. Paul Warburg in 1925, accusing him of being the head and front of a movement in which the Federal Reserve System was being used as an instrument to foist German financial methods on the United States and to bring about a German control of American industry and business. Mr. Bernard Baruch and Mr. Aaron Sapiro, whose libel action against Mr. Henry Ford was the immediate point which brought about his recantation of his antisemitism, were included with Mr. Paul Warburg as his chief assistants in the plot.
The “Pacific Banker”, the leading financial paper in the North-west, dismissed the accusation as “a ridiculous obsession”, and wrote: Paul M. Warburg is a name which stands very high in American banking as that of the man who laid down the central idea upon which the whole Federal Reserve System was erected; who cast aside all thought of remuneration to become a member of the original Board, in fact its Deputy Governor; who has shown a genius in sound finance and a whole hearted service to the country which is recognised everywhere in responsible quarters”.
Associated Press, 30 Jul 1996: Switzerland gave the American, British and French Allies around 60 million dollars of Nazi gold to help pay for the reconstruction of Europe after the Second World War – according to documents just revealed. Jewish groups say this is just a fraction of the hoard which belongs to them – stolen from Jews in Germany before and during the war. The documents reveal that more than four billion dollars worth of gold was shipped by the German Reichsbank to Switzerland during the war. These Swiss banks have traditionally closed their doors to any attempt to investigate their notoriously secret accounts. Now it has been revealed they made a very secret deal with the victorious Western Allies after World War II which allowed them to keep millions of dollars worth of gold. Jewish groups claim they concealed the theft and were permitted to get away with it, because of British fears that if they forced the issue, Swiss loans to their war-ravaged country would not be forthcoming.
In a new spirit of openness, the Swiss banks are now cooperating with the World Jewish Congress. External auditors are to be allowed full access to all banking records. However a Swiss lawyer acting for many of the claimants says the task is a massive one – not least because of the difficulty in tracing who deposited the money.
“The problem is with names – you don’t know with what name, or what code, or what fantasy name accounts existed. Did the person who put it here put it in his own name or a fantasy name or code or did he give it to a Swiss cousin, attorney or somebody else to do it? That’s the first problem – second problem is the time that has gone by. If an account is still there the old account opening form should also be there – but as result of the time that has gone by – fifty years – with computerisation in the meantime I hear, although unofficially from various banks we may not have these documents any more”, said Dr Herbert Winter, lawyer.
Exploring the Vatican’s role in aiding Nazi criminals to escape punishment for their crimes, this book, originally published in 1991, first revealed the Vatican-Swiss bank connection to Nazi gold and documented the hidden links to Western investors in Nazi Germany. Since its publication, major revelations about the role of Swiss banks have confirmed Unholy Trinity’s expose of the flight of the Nazi’s stolen treasures; the new introduction and new final chapters, written by Aarons and Loftus for this edition, bring the book completely up to date and show how the media have missed the vital Vatican connection in the Swiss-bank story.
Among other things, the authors demonstrate that U.S. and British code-breakers were fully aware of the Holocaust as early as 1941 but lied to the Western press; that the code-breakers bugged the Swiss banks and then buried secrets of Nazi gold transfers to protect U.S. intelligence chief Allen Dulles; and that the Australian, British, and Canadian governments are still waging a campaign to keep their citizens ignorant about the Nazi war criminals living among them.
Covering all these topics and more, Unholy Trinity is the definitive history of a series of profoundly disturbing cover-ups involving the Holy See, Allen Dulles, the Swiss banks, and the remnants of the Third Reich.. – Amazon
ROTHSCHILD BANKING CARTEL AND THE FEDERAL RESERVE – MAPPING THE OCTOPUS – IRANIAN TV DOCUMENTARY
“In 1928, “the London Connection” decided to run Herbert Hoover for president of the United States. There was only one problem; although Herbert Hoover had been born in the United States, and was thus eligible for the office of the presidency, according to the Constitution, he had never had a business address or a home address in the United States, as he had gone abroad just after completing college at Stanford. The result was that during his campaign for the presidency, Herbert Hoover listed as his American address Suite 2000, 42 Broadway, New York, which was the office of Edgar Rickard. Suite 2000 was also shared by the grain tycoon and partner of J. Henry Schroder Banking Corporation, Julius H. Barnes.
Secrets of the Federal Reserve London Connection – Eustace Mullins
After Herbert Hoover was elected president of the United States, he insisted on appointing one of the old London crowd, Eugene Meyer, as Governor of the Federal Reserve Board. Meyer’s father had been one of the partners of Lazard Freres of Paris, and Lazard Brothers of London. Meyer, with Baruch, had been one of the most powerful men in the United States during World War I, a member of the famous Triumvirate which exercised unequalled power; Meyer as Chairman of the War Finance Corporation, Bernard Baruch as Chairman of the War Industries Board, and Paul Warburg as Governor of the Federal Reserve System.
A longtime critic of Eugene Meyer, Chairman Louis McFadden of the House Banking and Currency Committee, was quoted in The New York Times, December 17, 1930, as having made a speech on the floor of the House attacking Hoover’s appointment of Meyer, and charging that “He represents the Rothschild interest and is liaison officer between the French Government and J.P. Morgan.” On December 18, The Times reported that “Herbert Hoover is deeply concerned” and that McFadden’s speech was “an unfortunate occurrence.” On December 20, The Times commented on the editorial page, under the headline, “McFadden Again”, “The speech ought to insure the Senate ratification of Mr. Meyer as head of the Federal Reserve. The speech was incoherent, as Mr. McFadden’s speeches usually are.” As The Times predicted, Meyer was duly approved by the Senate.”
Rothschild: The Hidden Sovereign Power Behind BIS
Posted on by The Bernician
With added images and links from Silview.media
In order to prove that the House of Rothschild was the hidden hand behind the founding of the Bank of International Settlements [BIS] in Basle, Switzerland – purportedly the central bank for the central banks, pictured above – the following facts need to be sustained with compelling evidence:
1. The men who founded BIS were working for or with the House of Rothschild when they founded the bank.
2. The governors of the central banks which became members of the BIS board of directors were working for or with the House of Rothschild in their financial policy-making.
3. The House of Rothschild has benefited, whether directly or indirectly, from any aspect of the business conducted by BIS.
BIS was founded by four men on 17/05/1930,: Hjalmar Schacht [Head of Reichsbank], Charles G Dawes [Chairman of City National Bank], Owen D Young [founder of RCA and chairman of General Electric] and Montague Norman [governor of the Bank of England and partner in JP Morgan].
From the founding of the bank until at least 1939, Schacht worked closely with Jacob Schiff, the Warburgs and Montague Norman, in funneling Wall Street and City of London money into Hitler’s rearmament program; as is documented in Professor Antony Sutton’s painstaking work, Wall Street and the Rise of Hitler:
“In October 1931, Warburg received a letter from Hitler which he passed on to Carter at Guaranty Trust Company, and subsequently another bankers’ meeting was called at the Guaranty Trust Company offices. Opinions at this meeting were divided. “Sidney Warburg” reported that Rockefeller, Carter, and McBean were for Hitler, while the other financiers were uncertain.
Montague Norman of the Bank of England and Glean of Royal Dutch Shell argued that the $10 million already spent on Hitler was too much, that Hitler would never act. The meeting finally agreed in principle to assist Hitler further, and Warburg again undertook a courier assignment and went back to Germany.
On this trip Warburg reportedly discussed German affairs with “a Jewish banker” in Hamburg, with an industrial magnate, and other Hitler supporters.
One meeting was with banker von Heydt and a “Luetgebrunn.” The latter stated that the Nazi storm troopers were incompletely equipped and the S.S. badly needed machine guns, revolvers, and carbines.”
This evidence shows that the transfers of those funds into the accounts held in trust by BIS for Hitler’s regime were all facilitated by the Warburgs, a family which long ago assimilated itself into the House of Rothschild by marriage and without whom the Rothschild’s hand in world affairs would not have been capable of remaining hidden for so long.
It is therefore fair to deduce from this circumstantial evidence alone that the Warburgs were acting as Rothschild proxies in the financing of Hitler’s rise to power, in which they were aided and abetted by at least two of the four BIS founders, in Schacht and Norman.
Paul Warburg was also the driving force behind the creation of the US Federal Reserve, which congressman Charles Lindbergh described as: “…the most gigantic trust on earth. When the President [Wilson] signs this Bill, the invisible government of the monetary power will be legalised… The greatest crime of the ages is perpetrated by this banking and currency bill.”
Warburg’s reward for bringing into being the U.S. Federal Reserve was to be its first chairman. While speaking before the House Committee on Banking and Currency in 1913, he confessed that, having emigrated to America in 1902, following an extensive education in international banking in Europe, he became a partner of Kuhn, Loeb & Co, which was to become a Rothschild-controlled shareholder of the American central bank.
It is self-evident that the education Warburg received was given by the Rothschilds, just as it was given to Jacob Schiff whilst he lived at their Frankfurt home before emigrating to America.
Between the American Civil War and the beginning of the First World War, the main U.S. agents of the Rothschild Empire were JP Morgan, Abraham Kuhn and Solomon Loeb. Newsweek magazine published a brief history of Kuhn, Loeb & Co on February 1st 1936, which stated:
“Abraham Kuhn and Solomon Loeb were general merchandise merchants in Lafayette, Indiana, in 1850. As usual in newly settled regions, most transactions were on credit. They soon found out that they were bankers…
In 1867, they established Kuhn, Loeb and Co., bankers, in New York City, and took in a young German immigrant, Jacob Schiff, as partner. Young Schiff had important financial connections in Europe.
After ten years, Jacob Schiff was head of Kuhn, Loeb and Co., Kuhn having retired. Under Schiff’s guidance, the house brought European capital into contact with American industry.”
Those European “financial connections” were the Rothschilds, in whose Frankfurt house Jacob Schiff was purportedly educated; and their German partners, the M.M. Warburg Company of Hamburg and Amsterdam, who were and remain but an extension of the same all-powerful banking house – Rothschild by anther name.
During the latter decades of the previous century, the Rothschilds provided John D. Rockefeller with enough finance to develop and dramatically expand his Standard Oil business. The mechanics of the investment were performed by the Warburgs and Jacob Schiff at Kuhn Loeb, who also financed Edward Harriman’s and Andrew Carnegie’s rail-road and steel empires; whilst JP Morgan’s empire was founded on credit extended by the Rothschild-controlled bank in New York.
It naturally follows that, on the basis that the names of Warburg, Morgan and Schiff are synonymous with that of Rothschild, the banking house is widely considered to have power, control or undue influence over every member of the Federal Reserve board, as well as the selection of its chairman.
In August 1976, the House Banking Committee Staff Report was published, detailing the history of the board members of the Federal Reserve, a portion of which can be seen below:
N.M. Rothschild , London - Bank of England
______________________________________
| |
| J. Henry Schroder
| Banking | Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
| | | | | |
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | \Schroder Bank
| / | Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
| | |
| | |
Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y.
| | --------------------------
µ
| | | |
8
| | | |
Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman \
| | | \
Herbert Lehman Irving Lehman \
| | | \
Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
| | |
Federal Reserve Bank Of New York |
|||||||| |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y ---|
| | \
| Hanover National Bank N.Y. \
| | \
| Chase National Bank N.Y. \
| |
| |
Shareholders - National City Bank - N.Y. |
----------------------------------------- |
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan -----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J.W. Sterling H.P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Insurance
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust - J. P. Morgan
|
|
Shareholders - First National Bank of N.Y.
-------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
|
|
|
|
|
Shareholders - Hanover National Bank N.Y.
------------------------------------------
James Stillman
William Rockefeller
|
|
|
|
|
Shareholders - Chase National Bank N.Y.
---------------------------------------
George F. Baker
The chart above first published 1976, reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914. In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control.
Source: Federal Reserve Directors: A Study of Corporate and Banking Influence. Staff Report, Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.
In the event this table is accurate [and there is no reason to believe it is not], there is not one individual or bank or investment company included that could not be considered a Rothschild interest, whether by partnership, investment, lending, commissioning or founding, at the time the Federal Reserve Act was passed into law.
Back in 1907, before the creation of the Federal Reserve, Rothschild-controlled Kuhn Loeb chief, Jacob Schiff, warned the New York Chamber of Commerce that:
“…unless we have a Central Bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history.”
Not long after this speech, the Rothschilds’ agents created a financial panic on Wall Street by making margin calls on the market’s biggest borrowers, just as Nathan Rothschild did by selling government bonds low in the aftermath of the Battle of Waterloo in 1815, both of which resulted in an enormous transfer of wealth to the international bankers during the financial panics that ensued.
Reflecting upon the 1907 panic, Paul Warburg, when speaking to the Banking and Currency Committee, confirmed that he was a driving force behind the Aldrich Plan for the creation of a privately owned US central bank:
“In the Panic of 1907, the first suggestion I made was, “let us have a national clearing house” [Central Bank]. The Aldrich Plan [for a Central Bank] contains many things that are simply fundamental rules of banking. Your aim must be the same.”
In addition to this compelling evidence of the hidden hand of Rothschild influence and control, the Telegraph newspaper published an article on 31/07/2013, detailing the revelations contained in documents released by the Bank of England, concerning the transfer of Czech gold to the Reichsbank BIS account. The article stated:
“The documents reveal a shocking story: just six months before Britain went to war with Nazi Germany, the Bank of England willingly handed over £5.6 million worth of gold to Hitler – and it belonged to another country.
The official history of the bank, written in 1950 but posted online for the first time on Tuesday, reveals how we betrayed Czechoslovakia – not just with the infamous Munich agreement of September 1938, which allowed the Nazis to annex the Sudetenland, but also in London, where Montague Norman, the eccentric but ruthless governor of the Bank of England agreed to surrender gold owned by the National Bank of Czechoslovakia.
The Czechoslovak gold was held in London in a sub-account in the name of the Bank for International Settlements, the Basel-based bank for central banks. When the Nazis marched into Prague in March 1939 they immediately sent armed soldiers to the offices of the National Bank. The Czech directors were ordered, on pain of death, to send two transfer requests.
The first instructed the BIS to transfer 23.1 metric tons of gold from the Czechoslovak BIS account, held at the Bank of England, to the Reichsbank BIS account, also held at Threadneedle Street.
The second order instructed the Bank of England to transfer almost 27 metric tons of gold held in the National Bank of Czechoslovakia’s own name to the BIS’s gold account at the Bank of England.”
In more simplistic terms, Montague Norman transferred 21 tonnes of Czech gold held by BIS in a Bank of England account, to a Reichsbank account it also held in trust at the English central bank, in order that his friend and fellow central bank head Schacht could finance the final stages of the rearmament of Hitler’s Germany; in addition to transferring 27 tonnes of Czech gold into another BIS account held at the Bank of England, for purposes we can realistically suppose were of a similar criminal nature.
Before any further investigations, it is already clear that Schacht and Norman, the governors of the Reichsbank and the Bank of England respectively, turned a blind eye to a massive theft of wealth from a sovereign nation, to provide arms for the Hitler’s Reich, for whom the drums of war had been beating since 1930. This was done in their unaccountable capacities as trustees of BIS national accounts.
Whilst there is a mountain of additional evidence, for the purposes of this essay, it has already been shown that, on the balance of probabilities, two of the four men who founded BIS were working for or with the House of Rothschild, on the ground that all of the money transferred to Schacht’s Reichbank was sent by Rothschild proxy, Jacob Schiff [or his agents] at Kuhn Loeb; whilst the gold transfer from the Bank of England was authorised by Schacht’s fellow BIS founder, Montague, who both must have known that Hitler’s troops had invaded Prague and that the Czech government would never have consented to gifting such a vast amount of gold to Hitler’s Reich and BIS at the time the transfer was sanctioned.
The only question remaining is whether the House of Rothschild has benefited from the operations of BIS, but the answer arises swiftly from a summary of the answers to the other two questions posed.
We have already established that Schacht and Montague co-founded BIS in 1930 and were carrying out Nazi money laundering operations for Rothschild interests, MM Warburg and Kuhn Loeb; and that Paul Warburg was appointed the first chairman of the Federal Reserve in 1914, after the Act he drafted was passed into law; so it is reasonable to assert that the House of Rothschild benefited from these events in the following ways:
1. A Rothschild agent was placed in charge of the issue of American credit, at the helm of a new privately owned US central bank, the board of which was entirely made up of the representatives of Rothschild interests. This meant that when the heads of the central banks were appointed to the BIS board of directors, Rothschild agents were guaranteed influence over the bank’s operations.
2. This sequence of events significantly increased Rothschild influence and power over both the US Government and the European nations who needed BIS to facilitate loans to their central banks in order to wage WWII; the evidence of which can still be seen today in the form of Donald Trump’s Commerce Secretary, Wilbur Ross, who worked for Rothschild Inc for three decades, as well as Rothschild controlled President Macron of France.
3. The House of Rothschild clearly used their agents, Schacht, Montague, Warburg and Schiff, to fund both sides in WWII in order to provide the circumstances required for the creation of the Zionist state of Israel; which could not have been achieved with such efficiency and secrecy without the participation of BIS, the sovereign bank which grants the protection of immunity from criminal prosecution to any Rothschild agent appointed to the board or to act as its representative, under the terms its Headquarters Agreement with the Swiss Federal Council. This allows Rothschild operations to be carried out above and beyond any legal jurisdiction or national government scrutiny.
There is a veritable plethora of evidence which would further substantiate the logical assertion that the Rothschilds have benefited, both directly and indirectly, from the operations of the Bank of International Settlements since its creation, but the compelling sources cited in the foregoing passages substantiate that in and of themselves.
The inescapable conclusion is therefore that BIS is and always has been a House of Rothschild interest, despite the fact that the evidence is disguised by the governors of the world’s central banks sitting on the board, every one of which is controlled in much the same way the Rothschilds control the Bank of England and the Federal Reserve. A rigged system in their favour, if ever there was one.
To be continued?
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