Σάββατο 24 Ιουλίου 2010
Παρασκευή 23 Ιουλίου 2010
Πέμπτη 22 Ιουλίου 2010
Σάββατο 17 Ιουλίου 2010
JUST TO ILLUMINATE....
PRESS RELEASE
14 June 2004
TOPIC: GHM LETTER TO GREEK MINISTER OF EDUCATION AND AMBASSADORS OF IRELAND, ITALY AND PORTUGAL FOR UNACCEPTABLE LEGITIMIZATION OF GREEK XENOPHOBIC AND ANTI-SEMITIC PARTY!
Greek Helsinki Monitor (GHM) sent today the following letter to Greek Minister of Education and Religions Marietta Yannakou, copied to the Ambassadors of Ireland, Italy and Portugal, pointing to the unacceptable Minister statements that legitimize LAOS, possibly the most extreme right, hyper-nationalist, xenophobic and anti-Semitic party in the newly elected European Parliament (EP), as evidenced by the selected party statements included in the letter. In the EP, already government parties of Ireland, Italy and Portugal have legitimized LAOS by associating themselves to it. GHM believes such actions contribute to the incubation of the “egg of the snake” in Greece and calls on Greece’s Minister of Education and the parties of the other countries to effectively distance themselves from LAOS.
Ms. Marietta Yannakou
Minister of Education and Religions
cc: Ambassadors of Ireland, Italy, Portugal
14 June 2004
Dear Minister
We were unpleasantly surprised to listen to your statements yesterday at the state TV station NET, partly repeated today at the radio station Flash, that LAOS (Popular Orthodox Herald) is not an extreme right party, but a populist right party, and that the Greek people is wise in voting also for the small parties so that Greece is represented in all Europarliamentary groups so as to avoid that any of them would take positions detrimental to the Greek interests as do Cohn-Bendit’s Greens. Such legitimization by you of possibly the most extreme right, hyper-nationalist, xenophobic and anti-Semitic party in the newly elected European Parliament (EP) contributes to the incubation of the “egg of the snake.” Please read below excerpts from the pre-election issues of LAOS weekly “Alpha Ena” and an older dossier by “Ios” in “Eleftherotypia” and think how you will explain your views on LAOS to Greece’s Jews who fall within your jurisdiction via KIS (Central Council of Jewish Communities in Greece). We call upon you to publicly reconsider your position.
This letter is copied to the Ambassadors of Ireland, Italy and Portugal, in whose countries rightwing government parties, evidently based on their reports, have also legitimized LAOS through their association with it in the European Parliament’s Union for Europe of the Nations (UEN), offering their “unreserved support,” and praising LAOS’ “courage to … defend the values of the new Right.” It is precisely this UEN support that was invoked yesterday by George Karatzaferis to back its claim that LAOS is not an extreme right party but a profoundly democratic party. GHM appeals on UEN –including EU President Bertie Ahern- to expel LAOS from the group.
Your sincerely
Panayote Dimitras
Spokesperson
“Alpha Ena” 5-6/6/2004: “Zionist action the propaganda against Greece;” “Zionists control the planet,” “the terrorist strike against New York’s twin towers has been proven beyond any doubt to be caused by the action of America’s Jewish-Zionists;” “the dollar’s symbol is not D but $(SH) for SHEKEL, honouring the first Jewish currency.”
“Alpha Ena” 29-30/5/2004: “Rozakis’ election as Greek judge in the European Court of Human Rights is a Zionist victory… confirming the dominant trend in the European Parliament –it is indeed a clear victory of Zionism with consequences that no one can foresee;” “what Europe do you like, … American, Zionist, internationalist, multicultural?” (the latter quote is in the introduction of AEN’s press release backing LAOS).
GEORGE KARAZAFERIS
His Kampf! (excerpts)
Ios Group (Tasos Kostopoulos, Dimitris Trimis, Angelika Psaras, Dimitris Psaras)
Eleftherotypia, 20-10-02
Translated by GHM from the Greek original available at http://www.enet.gr/online/online_pl_fpage_text.jsp?dt=20/10/2002&id=76848240,84927984,19454128,98978672,11563824
………
*** Mr. Karatzaferis is not an anti-Semite
This is definitely a misunderstanding. The founder of the LAOS party is simply exercising his national duty to uncover the Jewish finger in everything: in the ruling PASOK party, in the opposition New Democracy party, in the media, in the Greek state:
* “We live in a judeocracy [evraiokratia]. The Prime Minister [Kostas Simitis] comes from that stock. Aaron Avouris was his grandfather. George Papandreou has his grandmother, who was a Polish Jew, Mineiko. The entire government is a Ju-de-o-cracy.” [Emphasis his.] So said Mr. K. on his TV show, on his own private channel, on 24 May 2000. A few days after the 2000 elections he was disclosing the Jewish finger in the New Democracy party slate, a slate on which he himself once participated: “And if you look for them, you’ll find Jewish roots in Stefanos Manos [ND deputy], too. Wherever you see support for the issue [removal of religious designation from national identity cards] there are Jewish roots. Just look. At the family, the wife, the mother-in-law.”
* Mr. K. has said the same about the past leader of his own former party, a man he was extolling only a few years back: “Hand in hand, with [Militadis] Evert as leader.” On this same TV program, the LAOS party founder also claimed: “One of my own men, Lambros Lambrakos, saw Mr. Evert on his official visit to New York going into the Great Synagogue of the Jews, wearing his skullcap and penetrating the interior.”
* The next day, Mr. K. reiterated this, but with the following difference: he emphasized that Mr. Evert visited the Great Lodge of Washington, thereby tying the Jews to the Masons while linking two major American metropolises. A few days later (29/5/2000), the “Jewish conspiracy” would also include the president of the Council of Greeks Abroad [Symvoulio Apodimou Ellinismou]: “I learned today that the wife of Mr. Athens is a Swiss Jew. One by one the pieces of the puzzle are fitting together. Everybody involved in this process has dealings with Israel.”
* But Mr. K. has the answer. To stake his claim for Super Prefect [of Attica and Piraeus] his party slate, he said, included two Jews. This was his argument when it was revealed that his ballot contained [the neo-Nazi group] Chryssi Avghi. In fact, to completely shake off the accusation of racism, Mr. K. claimed that his slate also included two homosexuals and a Gypsy. A true transcendence…
The funny thing is, these statements of Mr. K.’s provoked an official protest from Chryssi Avghi (!), which declared via Fuhrer Michaloliakos that it has no involvement in the elections (except for 4 of its officials):
“We are deeply saddened by the fact that Jews, homosexual deviants and gyps were used to counterbalance the presence of members of Chryssi Avghi on [the LAOS] ballot, and declare that this approach is not in accordance with our ethics.” However, the overly excitable anti-Semites spoke too soon. As he Central Board of Jewish Communities in Greece (Kentriko Israilitiko Symvoulio or KIS) pointed out, this Jewish participation was just another of Mr. K’s lies. “KIS deems it necessary to clarify that the promulgation by the candidate for Super Prefect of Attica, Mr. G. Karatzaferis, that his ballot includes two citizens of the Jewish faith is false. For years, Mr. G. K. has routinely and unallowably falsified the truth when it comes to matters of Judaism.”
* Of course, when he wanted to rally his people, Mr. K said other things. We recall his speech in Corinth, last May (28/5/02): “First: I’m not a Jew. Let the Prime Minister say that. Second: I’m not a communist. And let [ND opposition party leader] Mr. Karamanlis say that. Third: I’m not a homosexual. Not many can say that.”
* But Mr. K’s hard-line supporters need not worry. His ticket also includes other officials who lay claim to the characterization of pure anti-Semite or rightwing extremist on their own merits. We note Christos Virlas, a journalist for “Stochos” [the oldest, most notorious anti-Semitic, rightwing extremist newspaper in Greece], and, in particular, its editor, Ioannis Schinas. As far back in 1982, Mr. Schinas was disclosing the injustice suffered by Rudolph Hess in his columns in “Nea Thesis,” the official publication of the extremist pro-dictatorship party, ENEK. Mr. Schinas is the most prominent face of the post-dictatorship extreme right, a founding member of many anti-Semitic organizations and, naturally, a close friend of Kostas Plevris [notorious longtime anti-Semite and, inter alia, the Greek translator of the “Protocols of the Elders of Zion”].
……..
***Mr. Karatzaferis does not advocate conspiracy theories.
The basic propaganda weapon of rightwing extremist groups since the end of World War I is the dissemination of conspiracy theories. Mr. K. avoids this as much as he can, but he sometimes slips up. You see, he is also the Thessalonikan from the Peloponnisos who, every noon, delivers the leader’s TV show, telemarketing all the latest fiction of conspiracy para-literature: a little bit of Plevris, a little Georgalas, a little Protocols of the Elders of Zion, etc. This last has been analyzed by none other than the recently converted theoretician of “Karatzaferian thought” himself, [Dimosthenis Liakopoulos] in a two-volume work in which he “demonstrates” how they are implemented.
*So, the leader had to lend a hand: “(Everything) is being implemented according to the Protocols of Zion. With the implementation of the New World Order. And who are those being served? On the one side there are the Jews, who are the direct perpetrators, and on the other there is the Pope and the Vatican, who are the indirect perpetrators. (…) I can provide more than one example of conspiracy between the Vatican and the Jews against Greece. Not just two, many. (…) Kostas Karamanlis traveled on the same plane, in the same car to the same club with Georgakis [contemptuous, in this case, diminutive of George, referring to Foreign Minister Papandreou] to the Bilderberg Club” (24/5/00).
“The Bilderberg Club met in Scotland. Karamanlis and Georgios Papandreou are in it, and [Turkish Foreign Minister] Cem, a Jew-turned-Muslim, is in it, too, and so is the whole tribe we’re familiar with, led by that other Jew, Mr. Holbrook” (29/5/00). “The New World Order means (that we are) puppets in the hands of the Jews. Flattened. Protocols of Zion. Pan-government has occurred in Europe. The unified currency has come to pass, too. They make it dance they way they want. Do you know how much money the Jews gain by this fluctuation? We are on the way to realizing the goals they set 200 years ago” (24/5/00).
14 June 2004
TOPIC: GHM LETTER TO GREEK MINISTER OF EDUCATION AND AMBASSADORS OF IRELAND, ITALY AND PORTUGAL FOR UNACCEPTABLE LEGITIMIZATION OF GREEK XENOPHOBIC AND ANTI-SEMITIC PARTY!
Greek Helsinki Monitor (GHM) sent today the following letter to Greek Minister of Education and Religions Marietta Yannakou, copied to the Ambassadors of Ireland, Italy and Portugal, pointing to the unacceptable Minister statements that legitimize LAOS, possibly the most extreme right, hyper-nationalist, xenophobic and anti-Semitic party in the newly elected European Parliament (EP), as evidenced by the selected party statements included in the letter. In the EP, already government parties of Ireland, Italy and Portugal have legitimized LAOS by associating themselves to it. GHM believes such actions contribute to the incubation of the “egg of the snake” in Greece and calls on Greece’s Minister of Education and the parties of the other countries to effectively distance themselves from LAOS.
Ms. Marietta Yannakou
Minister of Education and Religions
cc: Ambassadors of Ireland, Italy, Portugal
14 June 2004
Dear Minister
We were unpleasantly surprised to listen to your statements yesterday at the state TV station NET, partly repeated today at the radio station Flash, that LAOS (Popular Orthodox Herald) is not an extreme right party, but a populist right party, and that the Greek people is wise in voting also for the small parties so that Greece is represented in all Europarliamentary groups so as to avoid that any of them would take positions detrimental to the Greek interests as do Cohn-Bendit’s Greens. Such legitimization by you of possibly the most extreme right, hyper-nationalist, xenophobic and anti-Semitic party in the newly elected European Parliament (EP) contributes to the incubation of the “egg of the snake.” Please read below excerpts from the pre-election issues of LAOS weekly “Alpha Ena” and an older dossier by “Ios” in “Eleftherotypia” and think how you will explain your views on LAOS to Greece’s Jews who fall within your jurisdiction via KIS (Central Council of Jewish Communities in Greece). We call upon you to publicly reconsider your position.
This letter is copied to the Ambassadors of Ireland, Italy and Portugal, in whose countries rightwing government parties, evidently based on their reports, have also legitimized LAOS through their association with it in the European Parliament’s Union for Europe of the Nations (UEN), offering their “unreserved support,” and praising LAOS’ “courage to … defend the values of the new Right.” It is precisely this UEN support that was invoked yesterday by George Karatzaferis to back its claim that LAOS is not an extreme right party but a profoundly democratic party. GHM appeals on UEN –including EU President Bertie Ahern- to expel LAOS from the group.
Your sincerely
Panayote Dimitras
Spokesperson
“Alpha Ena” 5-6/6/2004: “Zionist action the propaganda against Greece;” “Zionists control the planet,” “the terrorist strike against New York’s twin towers has been proven beyond any doubt to be caused by the action of America’s Jewish-Zionists;” “the dollar’s symbol is not D but $(SH) for SHEKEL, honouring the first Jewish currency.”
“Alpha Ena” 29-30/5/2004: “Rozakis’ election as Greek judge in the European Court of Human Rights is a Zionist victory… confirming the dominant trend in the European Parliament –it is indeed a clear victory of Zionism with consequences that no one can foresee;” “what Europe do you like, … American, Zionist, internationalist, multicultural?” (the latter quote is in the introduction of AEN’s press release backing LAOS).
GEORGE KARAZAFERIS
His Kampf! (excerpts)
Ios Group (Tasos Kostopoulos, Dimitris Trimis, Angelika Psaras, Dimitris Psaras)
Eleftherotypia, 20-10-02
Translated by GHM from the Greek original available at http://www.enet.gr/online/online_pl_fpage_text.jsp?dt=20/10/2002&id=76848240,84927984,19454128,98978672,11563824
………
*** Mr. Karatzaferis is not an anti-Semite
This is definitely a misunderstanding. The founder of the LAOS party is simply exercising his national duty to uncover the Jewish finger in everything: in the ruling PASOK party, in the opposition New Democracy party, in the media, in the Greek state:
* “We live in a judeocracy [evraiokratia]. The Prime Minister [Kostas Simitis] comes from that stock. Aaron Avouris was his grandfather. George Papandreou has his grandmother, who was a Polish Jew, Mineiko. The entire government is a Ju-de-o-cracy.” [Emphasis his.] So said Mr. K. on his TV show, on his own private channel, on 24 May 2000. A few days after the 2000 elections he was disclosing the Jewish finger in the New Democracy party slate, a slate on which he himself once participated: “And if you look for them, you’ll find Jewish roots in Stefanos Manos [ND deputy], too. Wherever you see support for the issue [removal of religious designation from national identity cards] there are Jewish roots. Just look. At the family, the wife, the mother-in-law.”
* Mr. K. has said the same about the past leader of his own former party, a man he was extolling only a few years back: “Hand in hand, with [Militadis] Evert as leader.” On this same TV program, the LAOS party founder also claimed: “One of my own men, Lambros Lambrakos, saw Mr. Evert on his official visit to New York going into the Great Synagogue of the Jews, wearing his skullcap and penetrating the interior.”
* The next day, Mr. K. reiterated this, but with the following difference: he emphasized that Mr. Evert visited the Great Lodge of Washington, thereby tying the Jews to the Masons while linking two major American metropolises. A few days later (29/5/2000), the “Jewish conspiracy” would also include the president of the Council of Greeks Abroad [Symvoulio Apodimou Ellinismou]: “I learned today that the wife of Mr. Athens is a Swiss Jew. One by one the pieces of the puzzle are fitting together. Everybody involved in this process has dealings with Israel.”
* But Mr. K. has the answer. To stake his claim for Super Prefect [of Attica and Piraeus] his party slate, he said, included two Jews. This was his argument when it was revealed that his ballot contained [the neo-Nazi group] Chryssi Avghi. In fact, to completely shake off the accusation of racism, Mr. K. claimed that his slate also included two homosexuals and a Gypsy. A true transcendence…
The funny thing is, these statements of Mr. K.’s provoked an official protest from Chryssi Avghi (!), which declared via Fuhrer Michaloliakos that it has no involvement in the elections (except for 4 of its officials):
“We are deeply saddened by the fact that Jews, homosexual deviants and gyps were used to counterbalance the presence of members of Chryssi Avghi on [the LAOS] ballot, and declare that this approach is not in accordance with our ethics.” However, the overly excitable anti-Semites spoke too soon. As he Central Board of Jewish Communities in Greece (Kentriko Israilitiko Symvoulio or KIS) pointed out, this Jewish participation was just another of Mr. K’s lies. “KIS deems it necessary to clarify that the promulgation by the candidate for Super Prefect of Attica, Mr. G. Karatzaferis, that his ballot includes two citizens of the Jewish faith is false. For years, Mr. G. K. has routinely and unallowably falsified the truth when it comes to matters of Judaism.”
* Of course, when he wanted to rally his people, Mr. K said other things. We recall his speech in Corinth, last May (28/5/02): “First: I’m not a Jew. Let the Prime Minister say that. Second: I’m not a communist. And let [ND opposition party leader] Mr. Karamanlis say that. Third: I’m not a homosexual. Not many can say that.”
* But Mr. K’s hard-line supporters need not worry. His ticket also includes other officials who lay claim to the characterization of pure anti-Semite or rightwing extremist on their own merits. We note Christos Virlas, a journalist for “Stochos” [the oldest, most notorious anti-Semitic, rightwing extremist newspaper in Greece], and, in particular, its editor, Ioannis Schinas. As far back in 1982, Mr. Schinas was disclosing the injustice suffered by Rudolph Hess in his columns in “Nea Thesis,” the official publication of the extremist pro-dictatorship party, ENEK. Mr. Schinas is the most prominent face of the post-dictatorship extreme right, a founding member of many anti-Semitic organizations and, naturally, a close friend of Kostas Plevris [notorious longtime anti-Semite and, inter alia, the Greek translator of the “Protocols of the Elders of Zion”].
……..
***Mr. Karatzaferis does not advocate conspiracy theories.
The basic propaganda weapon of rightwing extremist groups since the end of World War I is the dissemination of conspiracy theories. Mr. K. avoids this as much as he can, but he sometimes slips up. You see, he is also the Thessalonikan from the Peloponnisos who, every noon, delivers the leader’s TV show, telemarketing all the latest fiction of conspiracy para-literature: a little bit of Plevris, a little Georgalas, a little Protocols of the Elders of Zion, etc. This last has been analyzed by none other than the recently converted theoretician of “Karatzaferian thought” himself, [Dimosthenis Liakopoulos] in a two-volume work in which he “demonstrates” how they are implemented.
*So, the leader had to lend a hand: “(Everything) is being implemented according to the Protocols of Zion. With the implementation of the New World Order. And who are those being served? On the one side there are the Jews, who are the direct perpetrators, and on the other there is the Pope and the Vatican, who are the indirect perpetrators. (…) I can provide more than one example of conspiracy between the Vatican and the Jews against Greece. Not just two, many. (…) Kostas Karamanlis traveled on the same plane, in the same car to the same club with Georgakis [contemptuous, in this case, diminutive of George, referring to Foreign Minister Papandreou] to the Bilderberg Club” (24/5/00).
“The Bilderberg Club met in Scotland. Karamanlis and Georgios Papandreou are in it, and [Turkish Foreign Minister] Cem, a Jew-turned-Muslim, is in it, too, and so is the whole tribe we’re familiar with, led by that other Jew, Mr. Holbrook” (29/5/00). “The New World Order means (that we are) puppets in the hands of the Jews. Flattened. Protocols of Zion. Pan-government has occurred in Europe. The unified currency has come to pass, too. They make it dance they way they want. Do you know how much money the Jews gain by this fluctuation? We are on the way to realizing the goals they set 200 years ago” (24/5/00).
Παρασκευή 16 Ιουλίου 2010
A Semplicistic Version of ownership of FED. Can be useful.
The Federal Reserve - List of Jewish Private Bankers
Napoleon said: When a government is dependent for money upon the bankers, they and not the government leaders control the nation. This is because the hand that gives is above the hand that takes. Financiers are without patriotism and without decency.
Jews own and run the Federal Reserve Bank that the US government continually borrows from…and is in debt to.
The Federal Reserve Bank is a co More..nsortium of 9 Jewish-owned & associated banks with the Rothschilds at the head:
$1. Rothschild Banks of London and Berlin.
$2. Lazard Brothers Banks of Paris.
$3. Israel Moses Seif Banks of Italy.
$4. Warburg Bank of Hamburg and Amsterdam.
$5. Lehman Brothers of NY.******(bankrupt!2008)
$6. Kuhn, Loeb Bank of NY (Now Shearson American Express).
$7. Goldman, Sachs of NY.
$8. National Bank of Commerce NY/Morgan Guaranty Trust (J. P. Morgan Bank - Equitable Life - Levi P. Morton are principal shareholders).
$9. Hanover Trust of NY (William and David Rockefeller & Chase National Bank NY are principal shareholders).
TIME LINE OF THE JEW-OWNED FEDERAL RESERVE BANK
1791-1811: Rothschilds’ First Bank of the United States.
1816-1836: Rothschilds’ Second Bank of the United States.
1837-1862: Free Banking Era - no formal Central Bank through the efforts of President Andrew Jackson.
1862-1913: System of National Banks through the efforts of President Andrew Jackson.
1913-Current: Federal Reserve Act effects a consortium of privately held Jewish & associated banks called the Federal Reserve Bank. The largest shareholders of the Federal Reserve Bank are the Rothschilds of London holding 57% of the stock which is not available for public trading.
On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. A smear campaign against McFadden ensued and he was poisoned 3 years later.
JEWS RUN THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE BANK
Here are the Jews that control the government of America:
1) Ben Shalom Bernanke: Chairman of the Board of Governors of Federal Reserve. Term ends 2020.
2) Donald L. Kohn: Vice Chairman of the Board of Governors of Federal Reserve. Term ends 2016.
3) Randall S. Kroszner: Member of Board of Governors of Federal Reserve.
4) Frederic S. Mishkin: Member of Board of Governors of Federal Reserve. Term ends 2014.
5) Alan Greenspan: Advisor to Board of Governors of Federal Reserve. Recent Chairman.
HOW THE FEDERAL RESERVE BANK WORKS
JEWISH BANKERS PRINT MONEY at heavily-armed & guarded Federal Reserve Bank buildings throughout the US. Then these Jewish bankers of the Federal Reserve Bank *loan* the money to the US government at *interest.*
Since the Federal Reserve Bank is privately owned, the Federal Reserve Bank of New York (and all the others) is listed in Dun & Bradstreet. But according to Article I, Section 8 of the U. S. Constitution, only Congress has the right to issue money and regulate its value.
Thus it is *illegal* for private interests to issue US money. But because influential Jews like Paul Warburg and Jacob Schiff bribed into enactment the Federal Reserve Act of 1913, the stockholders of the Federal Reserve Bank were to be kept a secret. Only recently have the Jewish stockholders of the Federal Reserve Bank come to light.
International cooperation with the Jew-owned Federal Reserve Bank has been intense to coordinate currency. In 1985, officials from the JP Morgan Bank of NY met with the Credit Lyonnais Bank of France. They established the European Currency Unit Banking Association (ECUBA) to get world cooperation for a unified currency.
In October 1987, the Association for the Monetary Union of Europe (AMUE), secretly met and recommended that the ECU (European Currency Unit) replace existing national currencies and that all European Central Banks be combined into one and issue the ECU as the official unified currency. This occurred in 1999 with the issuing of the Euro.
The plan of the international Jewish banking cabal is to have only 3 central banks in the world: The Federal Reserve Bank, the European Central Bank, and the Central Bank of Japan. All of these banks are headed by the Rothschilds.
And Next To Come Will Be The One World Government Run By Anti-Christian Jews.
Read the source article from Real Jew News with links here.
http://www.realjewnews.com/?p=177
Related Articles
Pick-Pocketing the People: The ruling elite planned the global economic downturn. They timed the implementation and orchestration while controlling media coverage of it.
http://thomaspainereturns.blogspot.com/2009/03/pick-pocketing-people.html
The Takeover of America, Republic Becomes Oligarchy: America has become an oligarchy (a government ruled by a powerful few) versus a Republic (a government limited by law) as the banking and Wall Street Masters of the Universe continue their tyranny.
http://blogs.salon.com/0002255/2009/03/23.html
P.S. Hey, we have to be slaves and not complain about it. Otherwise we’d be “anti-Semitic.” It’s “anti-Semitic” to notice what’s happening and who’s in charge, and it’s “anti-Semitic” to complain about it. The FEMA camps will be full of “anti-Semites” otherwise known as “terrorists.”
Napoleon said: When a government is dependent for money upon the bankers, they and not the government leaders control the nation. This is because the hand that gives is above the hand that takes. Financiers are without patriotism and without decency.
Jews own and run the Federal Reserve Bank that the US government continually borrows from…and is in debt to.
The Federal Reserve Bank is a co More..nsortium of 9 Jewish-owned & associated banks with the Rothschilds at the head:
$1. Rothschild Banks of London and Berlin.
$2. Lazard Brothers Banks of Paris.
$3. Israel Moses Seif Banks of Italy.
$4. Warburg Bank of Hamburg and Amsterdam.
$5. Lehman Brothers of NY.******(bankrupt!2008)
$6. Kuhn, Loeb Bank of NY (Now Shearson American Express).
$7. Goldman, Sachs of NY.
$8. National Bank of Commerce NY/Morgan Guaranty Trust (J. P. Morgan Bank - Equitable Life - Levi P. Morton are principal shareholders).
$9. Hanover Trust of NY (William and David Rockefeller & Chase National Bank NY are principal shareholders).
TIME LINE OF THE JEW-OWNED FEDERAL RESERVE BANK
1791-1811: Rothschilds’ First Bank of the United States.
1816-1836: Rothschilds’ Second Bank of the United States.
1837-1862: Free Banking Era - no formal Central Bank through the efforts of President Andrew Jackson.
1862-1913: System of National Banks through the efforts of President Andrew Jackson.
1913-Current: Federal Reserve Act effects a consortium of privately held Jewish & associated banks called the Federal Reserve Bank. The largest shareholders of the Federal Reserve Bank are the Rothschilds of London holding 57% of the stock which is not available for public trading.
On May 23 1933, Congressman Louis T. McFadden brought impeachment charges against the members of the Federal Reserve Bank. A smear campaign against McFadden ensued and he was poisoned 3 years later.
JEWS RUN THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE BANK
Here are the Jews that control the government of America:
1) Ben Shalom Bernanke: Chairman of the Board of Governors of Federal Reserve. Term ends 2020.
2) Donald L. Kohn: Vice Chairman of the Board of Governors of Federal Reserve. Term ends 2016.
3) Randall S. Kroszner: Member of Board of Governors of Federal Reserve.
4) Frederic S. Mishkin: Member of Board of Governors of Federal Reserve. Term ends 2014.
5) Alan Greenspan: Advisor to Board of Governors of Federal Reserve. Recent Chairman.
HOW THE FEDERAL RESERVE BANK WORKS
JEWISH BANKERS PRINT MONEY at heavily-armed & guarded Federal Reserve Bank buildings throughout the US. Then these Jewish bankers of the Federal Reserve Bank *loan* the money to the US government at *interest.*
Since the Federal Reserve Bank is privately owned, the Federal Reserve Bank of New York (and all the others) is listed in Dun & Bradstreet. But according to Article I, Section 8 of the U. S. Constitution, only Congress has the right to issue money and regulate its value.
Thus it is *illegal* for private interests to issue US money. But because influential Jews like Paul Warburg and Jacob Schiff bribed into enactment the Federal Reserve Act of 1913, the stockholders of the Federal Reserve Bank were to be kept a secret. Only recently have the Jewish stockholders of the Federal Reserve Bank come to light.
International cooperation with the Jew-owned Federal Reserve Bank has been intense to coordinate currency. In 1985, officials from the JP Morgan Bank of NY met with the Credit Lyonnais Bank of France. They established the European Currency Unit Banking Association (ECUBA) to get world cooperation for a unified currency.
In October 1987, the Association for the Monetary Union of Europe (AMUE), secretly met and recommended that the ECU (European Currency Unit) replace existing national currencies and that all European Central Banks be combined into one and issue the ECU as the official unified currency. This occurred in 1999 with the issuing of the Euro.
The plan of the international Jewish banking cabal is to have only 3 central banks in the world: The Federal Reserve Bank, the European Central Bank, and the Central Bank of Japan. All of these banks are headed by the Rothschilds.
And Next To Come Will Be The One World Government Run By Anti-Christian Jews.
Read the source article from Real Jew News with links here.
http://www.realjewnews.com/?p=177
Related Articles
Pick-Pocketing the People: The ruling elite planned the global economic downturn. They timed the implementation and orchestration while controlling media coverage of it.
http://thomaspainereturns.blogspot.com/2009/03/pick-pocketing-people.html
The Takeover of America, Republic Becomes Oligarchy: America has become an oligarchy (a government ruled by a powerful few) versus a Republic (a government limited by law) as the banking and Wall Street Masters of the Universe continue their tyranny.
http://blogs.salon.com/0002255/2009/03/23.html
P.S. Hey, we have to be slaves and not complain about it. Otherwise we’d be “anti-Semitic.” It’s “anti-Semitic” to notice what’s happening and who’s in charge, and it’s “anti-Semitic” to complain about it. The FEMA camps will be full of “anti-Semites” otherwise known as “terrorists.”
A Study of Corporate and Banking Influence. Staff Report,Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Sessi
Chart of who "owns" the Federal Reserve
--------------------------------------------------------------------------------
Chart 1
Federal Reserve Directors: A Study of Corporate and Banking Influence
Published 1976
Chart 1 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.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
Chart 2
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1983
The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a Second World War possible; backing the Presidential campaign of Herbert Hoover ; and even at the present time, having two of its major executives of its subsidiary firm, Bechtel Corporation serving as Secretary of Defense and Secretary of State in the Reagan Administration.
The head of the Bank of England since 1973, Sir Gordon Richardson, Governor of the Bank of England (controlled by the House of Rothschild) was chairman of J. Henry Schroder Wagg and Company of London from 1963-72, and director of J. Henry Schroder,New York and Schroder Banking Corporation,New York,as well as Lloyd's Bank of London, and Rolls Royce. He maintains a residence on Sutton Place in New York City, and as head of "The London Connection," can be said to be the single most influential banker in the world.
--------------------------------------------------------------------------------
J. Henry Schroder
-----------------
|
|
|
Baron Rudolph Von Schroder
Hamburg - 1858 - 1934
|
|
|
Baron Bruno Von Schroder
Hamburg - 1867 - 1940
F. C. Tiarks |
1874-1952 |
| |
marr. Emma Franziska |
(Hamburg) Helmut B. Schroder
J. Henry Schroder 1902 |
Dir. Bank of England |
Dir. Anglo-Iranian |
Oil Company J. Henry Schroder Banking Company N.Y.
|
|
J. Henry Schroder Trust Company N.Y.
|
|
|
___________________|____________________
| |
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State
Rockefeller Foundation
Prentiss Gray
------------
Belgian Relief Comm. Lord Airlie
Chief Marine Transportation -----------
US Food Administration WW I Chairman; Virgina Fortune
Manati Sugar Co. American & Ryan daughter of Otto Kahn
British Continental Corp. of Kuhn,Loeb Co.
| |
| |
M. E. Rionda |
------------ |
Pres. Cuba Cane Sugar Co. |
Manati Sugar Co. many other |
sugar companies. _______|
| |
| |
G. A. Zabriskie |
--------------- | Emile Francoui
Chmn U.S. Sugar Equalization | --------------
Board 1917-18; Pres Empire | Belgian Relief Comm. Kai
Biscuit Co., Columbia Baking | Ping Coal Mines, Tientsin
Co. , Southern Baking Co. | Railroad,Congo Copper, La
| Banque Nationale de Belgique
Suite 2000 42 Broadway | N. Y |
__________________________|___________________________|_
| | |
| | |
Edgar Richard Julius H. Barnes Herbert Hoover
------------- ---------------- --------------
Belgium Relief Comm Belgium Relief Comm Chmn Belgium Relief Com
Amer Relief Comm Pres Grain Corp. U.S. Food Admin
U.S. Food Admin U.S. Food Admin Sec of Commerce 1924-28
1918-24, Hazeltine Corp. 1917-18, C.B Pitney Kaiping Coal Mines
| Bowes Corp, Manati Congo Copper, President
| Sugar Corp. U.S. 1928-32
|
|
|
John Lowery Simpson
-------------------
Sacramento,Calif Belgium Relief |
Comm. U. S. Food Administration Baron Kurt Von Schroder
Prentiss Gray Co. J. Henry Schroder -----------------------
Trust, Schroder-Rockefeller, Chmn Schroder Banking Corp. J.H. Stein
Fin Comm, Bechtel International Bankhaus (Hitler's personal bank
Co. Bechtel Co. (Casper Weinberger account) served on board of all
Sec of Defense, George P. Schultz German subsidiaries of ITT . Bank
Sec of State (Reagan Admin). for International Settlements,
| SS Senior Group Leader,Himmler's
| Circle of Friends (Nazi Fund),
| Deutsche Reichsbank,president
|
|
Schroder-Rockefeller & Co. , N.Y.
---------------------------------
Avery Rockefeller, J. Henry Schroder
Banking Corp., Bechtel Co., Bechtel
International Co. , Canadian Bechtel
Company. |
|
|
|
Gordon Richardson
-----------------
Governor, Bank of England
1973-PRESENT C.B. of J. Henry Schroder N.Y.
Schroder Banking Co., New York, Lloyds Bank
Rolls Royce
--------------------------------------------------------------------------------
Chart 3
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
The David Rockefeller chart shows the link between the Federal Reserve Bank of New York,Standard Oil of Indiana,General Motors and Allied Chemical Corportion (Eugene Meyer family) and Equitable Life (J. P. Morgan).
--------------------------------------------------------------------------------
DAVID ROCKEFELLER
----------------------------
Chairman of the Board
Chase Manhattan Corp
|
|
______|_______________________
Chase Manhattan Corp. |
Officer & Director Interlocks|---------------------
------|----------------------- |
| |
Private Investment Co. for America Allied Chemicals Corp.
| |
Firestone Tire & Rubber Company General Motors
| |
Orion Multinational Services Ltd. Rockefeller Family & Associates
| |
ASARCO. Inc Chrysler Corp.
| |
Southern Peru Copper Corp. Intl' Basic Economy Corp.
| |
Industrial Minerva Mexico S.A. R.H. Macy & Co.
| |
Continental Corp. Selected Risk Investments S.A.
| |
Honeywell Inc. Omega Fund, Inc.
| |
Northwest Airlines, Inc. Squibb Corporation
| |
Northwestern Bell Telephone Co. Olin Foundation
| |
Minnesota Mining & Mfg Co (3M) Mutual Benefit Life Ins. Co. of NJ
| |
American Express Co. AT & T
| |
Hewlett Packard Pacific Northwestern Bell Co.
| |
FMC Corporation BeachviLime Ltd.
| |
Utah Intl' Inc. Eveleth Expansion Company
| |
Exxon Corporation Fidelity Union Bancorporation
| |
International Nickel/Canada Cypress Woods Corporation
| |
Federated Capital Corporation Intl' Minerals & Chemical Corp.
| |
Equitable Life Assurance Soc U.S. Burlington Industries
| |
Federated Dept Stores Wachovia Corporation
| |
General Electric Jefferson Pilot Corporation
| |
Scott Paper Co. R. J. Reynolds Industries Inc.
| |
American Petroleum Institute United States Steel Corp.
| |
Richardson Merril Inc. Metropolitan Life Insurance Co.
| |
May Department Stores Co. Norton-Simon Inc.
| |
Sperry Rand Corporation Stone-Webster Inc.
| |
San Salvador Development Company Standard Oil of Indiana
--------------------------------------------------------------------------------
Chart 4
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society ( J.P. Morgan), and the Federal Reserve Bank of Boston.
--------------------------------------------------------------------------------
Alan Pifer, President
Carnegie Corporation
of New York
----------------------
|
|
----------------------
Carnegie Corporation
Trustee Interlocks --------------------------
---------------------- |
| |
Rockefeller Center, Inc J. Henry Schroder Trust Company
| |
The Cabot Corporation Paul Revere Investors, Inc.
| |
Federal Reserve Bank of Boston Qualpeco, Inc.
|
Owens Corning Fiberglas
|
New England Telephone Co.
|
Fisher Scientific Company
|
Mellon National Corporation
|
Equitable Life Assurance Society
|
Twentieth Century Fox Corporation
|
J. Henry Schroder Banking Corporation
--------------------------------------------------------------------------------
Chart 5
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation.
--------------------------------------------------------------------------------
Maurice F. Granville
Chairman of The Board
Texaco Incorporated
----------------------
|
|
Texaco Officer & Director Interlocks ---------------- Liggett & Myers, Inc.
------------------------------------ |
| |
| |
L Arabian American Oil Company St John d'el Ray Mining Co. Ltd.
O | |
N Brown Brothers Harriman & Co. National Steel Corporation
D | |
O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd.
N | |
American Express Mutual Life Insurance Co.
| |
N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc.
M. | |
Anaconda United Services Life Ins. Co.
R | |
O Rockefeller Foundation Fairchild Industries
T | |
H Owens-Corning Fiberglas Blount, Inc.
S | |
C National City Bank (Cleveland) William Wrigley Jr. Co
H | |
I Sun Life Assurance Co. National Blvd. Bank of Chicago
L | |
D General Reinsurance Lykes Youngstown Corporation
| |
General Electric (NBC) Inmount Corporation
** 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.
[END]
--------------------------------------------------------------------------------
Back to BBS Files Menu...
--------------------------------------------------------------------------------
Chart 1
Federal Reserve Directors: A Study of Corporate and Banking Influence
Published 1976
Chart 1 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.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
Chart 2
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1983
The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a Second World War possible; backing the Presidential campaign of Herbert Hoover ; and even at the present time, having two of its major executives of its subsidiary firm, Bechtel Corporation serving as Secretary of Defense and Secretary of State in the Reagan Administration.
The head of the Bank of England since 1973, Sir Gordon Richardson, Governor of the Bank of England (controlled by the House of Rothschild) was chairman of J. Henry Schroder Wagg and Company of London from 1963-72, and director of J. Henry Schroder,New York and Schroder Banking Corporation,New York,as well as Lloyd's Bank of London, and Rolls Royce. He maintains a residence on Sutton Place in New York City, and as head of "The London Connection," can be said to be the single most influential banker in the world.
--------------------------------------------------------------------------------
J. Henry Schroder
-----------------
|
|
|
Baron Rudolph Von Schroder
Hamburg - 1858 - 1934
|
|
|
Baron Bruno Von Schroder
Hamburg - 1867 - 1940
F. C. Tiarks |
1874-1952 |
| |
marr. Emma Franziska |
(Hamburg) Helmut B. Schroder
J. Henry Schroder 1902 |
Dir. Bank of England |
Dir. Anglo-Iranian |
Oil Company J. Henry Schroder Banking Company N.Y.
|
|
J. Henry Schroder Trust Company N.Y.
|
|
|
___________________|____________________
| |
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State
Rockefeller Foundation
Prentiss Gray
------------
Belgian Relief Comm. Lord Airlie
Chief Marine Transportation -----------
US Food Administration WW I Chairman; Virgina Fortune
Manati Sugar Co. American & Ryan daughter of Otto Kahn
British Continental Corp. of Kuhn,Loeb Co.
| |
| |
M. E. Rionda |
------------ |
Pres. Cuba Cane Sugar Co. |
Manati Sugar Co. many other |
sugar companies. _______|
| |
| |
G. A. Zabriskie |
--------------- | Emile Francoui
Chmn U.S. Sugar Equalization | --------------
Board 1917-18; Pres Empire | Belgian Relief Comm. Kai
Biscuit Co., Columbia Baking | Ping Coal Mines, Tientsin
Co. , Southern Baking Co. | Railroad,Congo Copper, La
| Banque Nationale de Belgique
Suite 2000 42 Broadway | N. Y |
__________________________|___________________________|_
| | |
| | |
Edgar Richard Julius H. Barnes Herbert Hoover
------------- ---------------- --------------
Belgium Relief Comm Belgium Relief Comm Chmn Belgium Relief Com
Amer Relief Comm Pres Grain Corp. U.S. Food Admin
U.S. Food Admin U.S. Food Admin Sec of Commerce 1924-28
1918-24, Hazeltine Corp. 1917-18, C.B Pitney Kaiping Coal Mines
| Bowes Corp, Manati Congo Copper, President
| Sugar Corp. U.S. 1928-32
|
|
|
John Lowery Simpson
-------------------
Sacramento,Calif Belgium Relief |
Comm. U. S. Food Administration Baron Kurt Von Schroder
Prentiss Gray Co. J. Henry Schroder -----------------------
Trust, Schroder-Rockefeller, Chmn Schroder Banking Corp. J.H. Stein
Fin Comm, Bechtel International Bankhaus (Hitler's personal bank
Co. Bechtel Co. (Casper Weinberger account) served on board of all
Sec of Defense, George P. Schultz German subsidiaries of ITT . Bank
Sec of State (Reagan Admin). for International Settlements,
| SS Senior Group Leader,Himmler's
| Circle of Friends (Nazi Fund),
| Deutsche Reichsbank,president
|
|
Schroder-Rockefeller & Co. , N.Y.
---------------------------------
Avery Rockefeller, J. Henry Schroder
Banking Corp., Bechtel Co., Bechtel
International Co. , Canadian Bechtel
Company. |
|
|
|
Gordon Richardson
-----------------
Governor, Bank of England
1973-PRESENT C.B. of J. Henry Schroder N.Y.
Schroder Banking Co., New York, Lloyds Bank
Rolls Royce
--------------------------------------------------------------------------------
Chart 3
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
The David Rockefeller chart shows the link between the Federal Reserve Bank of New York,Standard Oil of Indiana,General Motors and Allied Chemical Corportion (Eugene Meyer family) and Equitable Life (J. P. Morgan).
--------------------------------------------------------------------------------
DAVID ROCKEFELLER
----------------------------
Chairman of the Board
Chase Manhattan Corp
|
|
______|_______________________
Chase Manhattan Corp. |
Officer & Director Interlocks|---------------------
------|----------------------- |
| |
Private Investment Co. for America Allied Chemicals Corp.
| |
Firestone Tire & Rubber Company General Motors
| |
Orion Multinational Services Ltd. Rockefeller Family & Associates
| |
ASARCO. Inc Chrysler Corp.
| |
Southern Peru Copper Corp. Intl' Basic Economy Corp.
| |
Industrial Minerva Mexico S.A. R.H. Macy & Co.
| |
Continental Corp. Selected Risk Investments S.A.
| |
Honeywell Inc. Omega Fund, Inc.
| |
Northwest Airlines, Inc. Squibb Corporation
| |
Northwestern Bell Telephone Co. Olin Foundation
| |
Minnesota Mining & Mfg Co (3M) Mutual Benefit Life Ins. Co. of NJ
| |
American Express Co. AT & T
| |
Hewlett Packard Pacific Northwestern Bell Co.
| |
FMC Corporation BeachviLime Ltd.
| |
Utah Intl' Inc. Eveleth Expansion Company
| |
Exxon Corporation Fidelity Union Bancorporation
| |
International Nickel/Canada Cypress Woods Corporation
| |
Federated Capital Corporation Intl' Minerals & Chemical Corp.
| |
Equitable Life Assurance Soc U.S. Burlington Industries
| |
Federated Dept Stores Wachovia Corporation
| |
General Electric Jefferson Pilot Corporation
| |
Scott Paper Co. R. J. Reynolds Industries Inc.
| |
American Petroleum Institute United States Steel Corp.
| |
Richardson Merril Inc. Metropolitan Life Insurance Co.
| |
May Department Stores Co. Norton-Simon Inc.
| |
Sperry Rand Corporation Stone-Webster Inc.
| |
San Salvador Development Company Standard Oil of Indiana
--------------------------------------------------------------------------------
Chart 4
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society ( J.P. Morgan), and the Federal Reserve Bank of Boston.
--------------------------------------------------------------------------------
Alan Pifer, President
Carnegie Corporation
of New York
----------------------
|
|
----------------------
Carnegie Corporation
Trustee Interlocks --------------------------
---------------------- |
| |
Rockefeller Center, Inc J. Henry Schroder Trust Company
| |
The Cabot Corporation Paul Revere Investors, Inc.
| |
Federal Reserve Bank of Boston Qualpeco, Inc.
|
Owens Corning Fiberglas
|
New England Telephone Co.
|
Fisher Scientific Company
|
Mellon National Corporation
|
Equitable Life Assurance Society
|
Twentieth Century Fox Corporation
|
J. Henry Schroder Banking Corporation
--------------------------------------------------------------------------------
Chart 5
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman,Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation.
--------------------------------------------------------------------------------
Maurice F. Granville
Chairman of The Board
Texaco Incorporated
----------------------
|
|
Texaco Officer & Director Interlocks ---------------- Liggett & Myers, Inc.
------------------------------------ |
| |
| |
L Arabian American Oil Company St John d'el Ray Mining Co. Ltd.
O | |
N Brown Brothers Harriman & Co. National Steel Corporation
D | |
O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd.
N | |
American Express Mutual Life Insurance Co.
| |
N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc.
M. | |
Anaconda United Services Life Ins. Co.
R | |
O Rockefeller Foundation Fairchild Industries
T | |
H Owens-Corning Fiberglas Blount, Inc.
S | |
C National City Bank (Cleveland) William Wrigley Jr. Co
H | |
I Sun Life Assurance Co. National Blvd. Bank of Chicago
L | |
D General Reinsurance Lykes Youngstown Corporation
| |
General Electric (NBC) Inmount Corporation
** 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.
[END]
--------------------------------------------------------------------------------
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Another Face of the Truth - No Con! (No conspiracy) The NAIVE VERSION!!!
Who Owns and Controls the Federal Reserve?
by Dr. Edward Flaherty, University of Charleston
Is the Federal Reserve System secretly owned and covertly controlled by powerful foreign banking interests? If so, how? These claims, made chiefly by authors Eustace Mullins (1983) and Gary Kah (1991) and repeated by many others, are quite serious because the Fed is the United States central bank and controls U.S. monetary policy. By changing the supply of money in circulation, the Fed influences interest rates, affecting the mortgage payments of millions of families, causing the financial markets to boom or collapse, and prompting the economy to expand or to stumble into recession. Such awesome power presumably would be used to benefit the U.S. economy. Mullins and Kah both argued that the Federal Reserve Bank of New York is owned by foreigners. Although the New York Fed is just one of twelve Federal Reserve banks, controlling it, they claimed, is tantamount to control of the entire System. Foreigners use their command of the New York Fed to manipulate U.S. monetary policy for their own and, as Kah asserted, to further their global political goals, namely the establishment of the sinister New World Order.
This essay examines the accuracy of these claims. Specifically, it investigates the charge that the New York Federal Reserve Bank is owned, directly or indirectly, by foreign elements, whether the New York Fed in effect runs the whole Federal Reserve System, and whether its enormous annual profits accrue primarily to foreigners or to the U.S government. This essay shows that there is little evidence to support the idea of foreign ownership and much that contradicts it. In addition, it presents evidence to show that the New York Fed does not command the entire System, as well as recent data demonstrating that the System's profits are paid to the federal government.
Who Owns the Federal Reserve Bank of New York?
Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank's district. Shareholders elect six of the nine the board of directors for their regional Federal Reserve Bank as well as its president. Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York (Mullins, p. 179). Together, these banks owned about 63 percent of the New York Fed's outstanding stock. Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy. Mullins explained,
'... The most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic since its very inception. The power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today' (Mullins, p. 47-48).
He further commented that the day the Federal Reserve Act was passed, "the Constitution ceased to be the governing covenant of the American people, and our liberties were handed over to a small group of international bankers" (Ibid, p. 29).
Unfortunately, Mullins' source for the stockholders of the New York Fed could not be verified. He claimed his source was the Federal Reserve Bulletin, although it has never included shareholder information, nor has any other Federal Reserve periodical. It is difficult researching this particular claim because a Federal Reserve Bank is not a publicly traded corporation and is therefore not required by the Securities and Exchange Commission to publish a list of its major shareholders. The question of ownership can still be addressed, however, by examining the legal rules for acquisition of such stock. The Federal Reserve Act requires national banks and participating state banks to purchase shares of their regional Federal Reserve Bank upon joining the System, thereby becoming "member banks" (12 USCA 282). Since the eight banks Mullins named all operate within the New York Federal Reserve district, and are all nationally chartered banks, they are required to be shareholders of the New York Federal Reserve Bank. They are also probably the major shareholders as Mullins claimed.
Are these eight banks on Mullins' list of stockholders owned by foreigners, what Mullins termed the London Connection? The SEC requires the name of any individual or organization that owns more than 5 percent of the outstanding shares of a publicly traded firm be made public. If foreigners own any shares of Mullins' eight banks, then their portions are not greater than 5 percent at this time. With no significant holdings of the major New York area banks, it does not seem likely that foreign conspirators could direct their actions.
Perhaps foreigners own shares of the New York Federal Reserve Bank directly. The law stipulates a small portion of Federal Reserve stock may be available for sale to the public. No person or organization, however, may own more than $25,000 of such public stock and none of it carries voting rights (12 USCA 283). However, under the terms of the Federal Reserve Act, public stock was only to be sold in the event the sale of stock to member banks did not raise the minimum of $4 million of initial capital for each Federal Reserve Bank when they were organized in 1913 (12 USCA 281). Each Bank was able to raise the necessary amount through member stock sales, and no public stock was ever sold to the non-bank public. In other words, no Federal Reserve stock has ever been sold to foreigners; it has only been sold to banks which are members of the Federal Reserve System (Woodward, 1996).
Regardless of the foreign ownership conjecture, Mullins argued that since the money-center banks of New York owned the largest portion of stock in the New York Fed, they could hand-pick its board of directors and president. This would give them, and hence the London Connection, control over Fed operations and U.S. monetary policy. This argument is faulty because each commercial bank receives one vote regardless of its size, unlike most corporate voting structures in which the number of votes is tied to the number of shares a person holds (Ibid). The New York Federal Reserve district contains over 1,000 member banks, so it is highly unlikely that even the largest and most powerful banks would be able to coerce so many smaller ones to vote in a particular manner. To control the vote of a majority of member banks would mean acquiring a controlling interest in about 500 member banks of the New York district. Such an expenditure would require an outlay in the hundreds of billions of dollars. Surely there is a cheaper path to global domination.
An historical example may make clear that member banks do not control the Federal Reserve's policies. Galbraith (1990) recounted that in the spring of 1929 the New York Stock Exchange was booming. Prices there had been rising considerably, extending the bull market that had begun in 1924. The Federal Reserve Board decided to take steps to arrest the speculative bubble that appeared to have been forming: it raised the cost banks had to pay to borrow from the Federal Reserve and it increased speculators' margin requirements. Charles Mitchell, then the head of National City Bank (today known as Citibank), which was the largest shareholder of the New York Federal Reserve Bank according to Mullins, was so irritated by this decision that in a bank statement he wrote, "We feel that we have an obligation which is paramount to any Federal Reserve warning, or anything else, to avert any dangerous crisis in the money market" (Galbraith, p. 57). National City Bank promised to increase lending to offset any restrictive policies of the Federal Reserve. Wrote Galbraith, "The effect was more than satisfactory: the market took off again. In the three summer months, the increase in prices outran all of the quite impressive increase that had occurred during the entire previous year" (Ibid). If the Fed and its policies were really under the control of its major stockholders, then why did the Federal Reserve Board clearly buck the intent of its single largest shareholder?
This information also eluded fellow conspiracy theorist Gary Kah, who disagreed with Mullins on who owns the New York Fed. His Swiss and Saudi Arabian contacts identified the top eight shareholders as the Rothschild Banks of London and Berlin; Lazard Brothers Banks of Paris; Israel Moses Seif Banks of Italy; Warburg Bank of Hamburg and Amsterdam; Lehman Brothers of New York; Kuhn, Loeb Bank of New York; Chase Manhatten; and Goldman, Sachs of New York (Kah, p. 13). It is impossible to verify Kah's information because it is not known who his "contacts" were. Nevertheless, Kah's list differs substantially from Mullins' compilation. Most interestingly, in Kah's list foreigners own the New York Fed directly without having to own majority interests in U.S. banks, as is the case with Mullins' list. The discrepancies in the two lists mean that at least one of them is wrong, and possibly both. Kah's list is the bogus one because no public stock has ever been issued, so it is not possible for anyone on Kah's list other than Chase Manhatten to own shares of the New York Fed.
Moreover, Kah seemed ignorant of important details about the organization of Federal Reserve stock and management, especially for someone claiming to have done as much research on the subject as he did. He referred to the organizations on his stockholders list as "Class A shareholders," which is curious because Federal Reserve stock is not classified in this manner (Ibid). It can be either member stock, which can be purchased only by commercial banks and thrifts seeking to become members of the Federal Reserve System, or public stock. However, the directors of a Federal Reserve bank are separated into Class A, B, and C categories, depending on how they are appointed (12 USCA 302, 304, 305). Three class A directors are chosen by the member banks. Three class B directors are also elected by the member banks to represent the non-bank sectors of the economy. The final three directors, class C, are picked by the Board of Governors also to represent the non-bank public. This may be the source of Kah's confusion, but it is a relatively simple point that he should have detected had his research efforts been thorough.
Does the New York Fed Call the Shots?
Mullins and Kah further argued that by controlling the New York Fed the international banking elite could command the entire Federal Reserve System, and thus direct U.S. monetary policy for their own profit. "For all practical purposes," Kah stressed, "the Federal Reserve Bank of New York is the Federal Reserve" (Ibid). This is the linchpin of their conspiracy theory because it provides the mechanism by which the international bankers execute their plans.
A brief look at how the Fed's powers over monetary policy are actually distributed shows that the key assumption in the Mullins-Kah conspiracy theory is erroneous. The Federal Reserve System is controlled not by the New York Fed, but by the Board of Governors (the Board) and the Federal Open Market Committee (FOMC). The Board is a seven member panel appointed by the President and approved by the Senate. It determines the interest rate, known as the discount rate, for loans to commercial banks and thrifts, selects the required reserve ratio which determines how much of customer deposits a bank must keep on hand (a factor that significantly affects a bank's ability create new loans), and also decides how much new currency Federal Reserve Banks may issue each year (12 USCA 248). The FOMC consists of the members of the Board, the president of the New York Fed, and four presidents from other Fed Banks. The FOMC formulates open market policy, which determines how much in government bonds the Fed Banks may trade, and is the most effective and commonly used of the Fed's monetary policy tools (12 USCA 263). The key point is that a Federal Reserve Bank cannot change its discount rate or required reserve ratio, issue additional currency, or purchase government bonds without the explicit approval of either the Board or the FOMC.
The New York Federal Reserve Bank through its direct and permanent representation on the FOMC has more say on monetary policy than other Federal Reserve Banks, but it still only has one vote of twelve on the FOMC and no say at all in setting the discount rate or the required reserve ratio. If it wanted monetary policy to go in one direction, while the Board and the rest of the FOMC wanted policy to go another, then the New York Fed would be out-voted. The powers over U.S. monetary policy rest firmly with the publicly-appointed Board of Governors and the Federal Open Market Committee, not with the New York Federal Reserve Bank or a group of international conspirators.
Mullins also made a great to-do about the Federal Advisory Council (the Council). This is a panel of twelve representatives appointed by the board of directors of each Fed Bank. The Council meets at least four times each year with the members of the Board to give them their advice and to discuss general economic conditions (12 USCA 261, 262). Many of the members have been bankers, a point not at all missed by Mullins. He speculated that it is able to force its will on the Board of Governors.
The claim that the "advice" of the council members is not binding on the Governors or that it carries no weight is to claim that four times a year, twelve of the most influential bankers in the United States take time from their work to travel to Washington to meet with the Federal Reserve Board merely to drink coffee and exchange pleasantries (Mullins, p. 45).
A point very much missed by Mullins is that the Council has no voting power in Board meetings, and thus has no direct input into monetary policy. In support of his hypothesis that Council members have been able to impose their will on the Board, Mullins offered no evidence, not even an anecdote. Moreover, his Council theory is inconsistent with his general thesis that the Federal Reserve System is manipulated by European banking interests through their control of the New York Fed. If this were true, then why would they also need the Council?
Who Gets the Fed's Profits?
Gary Kah and Thomas Schauf have also maintained that the huge profits of the Federal Reserve System are diverted to its foreign owners through the dividends paid to its stockholders. Kah reported "Each year billions of dollars are 'earned' by Class A stockholders of the Federal Reserve" (Kah, p. 20). Schauf further lamented by asking, "When are the profits of the Fed going to start flowing into the Treasury so that average Americans are no longer burdened with excessive, unnecessary taxes?"
The Federal Reserve System certainly makes large profits. According to the Board's 1995 Annual Report, the System had net income totaling $23.9 billion, which, if it were a single firm, would qualify it as one of the most profitable companies in the world. How were these profits distributed? By an agreement between the Board of Governors and the Treasury, nearly all of the Fed's annual profits are paid to the federal government. Accordingly, a lion's share of $23.4 billion, which represents 97.9 percent of the Federal Reserve's net income, was transferred to the Treasury. The Federal Reserve Banks kept $283 million, and the remaining $231 million was paid to its stockholders as dividends.
Given that less than one percent of the Fed's net earnings are distributed as dividends, it seems that an investor could easily find much more profitable ways to store their wealth than buying Federal Reserve stock. Regarding Schauf's lamentation, the Federal Reserve System has been paying its profits to the Treasury since 1947.
Conclusion
It does not appear that the New York Federal Reserve Bank is owned, either directly or indirectly, by foreigners. Neither Mullins nor Kah provided verifiable sources for their allegations, nor did their mysterious sources agree on exactly who owns the New York Federal Reserve Bank. Moreover, their central assumption that control of the New York Federal Reserve is the same as control of the whole System is wrong and demonstrates a lack of understanding of the System's basic organizational structure. The profits of the Federal Reserve System, again contrary to the assertion of Kah and Schauf, are funneled back to the federal government, not to an "international banking elite." If the U.S. central bank is in the grip of a banking conspiracy, then Mullins and Kah have certainly not uncovered it.
--------------------------------------------------------------------------------
by Dr. Edward Flaherty, University of Charleston
Last updated July 18, 1997
References:
82nd Annual Report, 1995. Board of Governors of the Federal Reserve System. U.S. Government Printing Office.
Galbraith, John K. 1990. A Short History of Financial Euphoria. New York: Whittle Direct Books.
Kah, Gary. 1991. En Route to Global Occupation. Lafayette, La.: Huntington House.
Mullins, Eustace. 1983. Secrets of the Federal Reserve. Staunton, Va.: Bankers Research Institute.
Shauf, Thomas. 1992. The Federal Reserve. Streamwood, IL: FED-UP, Inc.
Woodward, G. Thomas. 1996. "Money and the Federal Reserve System: Myth and Reality." Congressional Research Service
United States Code Annotated. 1994. U.S. Government Printing Office.
by Dr. Edward Flaherty, University of Charleston
Is the Federal Reserve System secretly owned and covertly controlled by powerful foreign banking interests? If so, how? These claims, made chiefly by authors Eustace Mullins (1983) and Gary Kah (1991) and repeated by many others, are quite serious because the Fed is the United States central bank and controls U.S. monetary policy. By changing the supply of money in circulation, the Fed influences interest rates, affecting the mortgage payments of millions of families, causing the financial markets to boom or collapse, and prompting the economy to expand or to stumble into recession. Such awesome power presumably would be used to benefit the U.S. economy. Mullins and Kah both argued that the Federal Reserve Bank of New York is owned by foreigners. Although the New York Fed is just one of twelve Federal Reserve banks, controlling it, they claimed, is tantamount to control of the entire System. Foreigners use their command of the New York Fed to manipulate U.S. monetary policy for their own and, as Kah asserted, to further their global political goals, namely the establishment of the sinister New World Order.
This essay examines the accuracy of these claims. Specifically, it investigates the charge that the New York Federal Reserve Bank is owned, directly or indirectly, by foreign elements, whether the New York Fed in effect runs the whole Federal Reserve System, and whether its enormous annual profits accrue primarily to foreigners or to the U.S government. This essay shows that there is little evidence to support the idea of foreign ownership and much that contradicts it. In addition, it presents evidence to show that the New York Fed does not command the entire System, as well as recent data demonstrating that the System's profits are paid to the federal government.
Who Owns the Federal Reserve Bank of New York?
Each of the twelve Federal Reserve Banks is organized into a corporation whose shares are sold to the commercial banks and thrifts operating within the Bank's district. Shareholders elect six of the nine the board of directors for their regional Federal Reserve Bank as well as its president. Mullins reported that the top eight stockholders of the New York Fed were, in order from largest to smallest as of 1983, Citibank, Chase Manhatten, Morgan Guaranty Trust, Chemical Bank, Manufacturers Hanover Trust, Bankers Trust Company, National Bank of North America, and the Bank of New York (Mullins, p. 179). Together, these banks owned about 63 percent of the New York Fed's outstanding stock. Mullins then showed that many of these banks are owned by about a dozen European banking organizations, mostly British, and most notably the Rothschild banking dynasty. Through their American agents they are able to select the board of directors for the New York Fed and to direct U.S. monetary policy. Mullins explained,
'... The most powerful men in the United States were themselves answerable to another power, a foreign power, and a power which had been steadfastly seeking to extend its control over the young republic since its very inception. The power was the financial power of England, centered in the London Branch of the House of Rothschild. The fact was that in 1910, the United States was for all practical purposes being ruled from England, and so it is today' (Mullins, p. 47-48).
He further commented that the day the Federal Reserve Act was passed, "the Constitution ceased to be the governing covenant of the American people, and our liberties were handed over to a small group of international bankers" (Ibid, p. 29).
Unfortunately, Mullins' source for the stockholders of the New York Fed could not be verified. He claimed his source was the Federal Reserve Bulletin, although it has never included shareholder information, nor has any other Federal Reserve periodical. It is difficult researching this particular claim because a Federal Reserve Bank is not a publicly traded corporation and is therefore not required by the Securities and Exchange Commission to publish a list of its major shareholders. The question of ownership can still be addressed, however, by examining the legal rules for acquisition of such stock. The Federal Reserve Act requires national banks and participating state banks to purchase shares of their regional Federal Reserve Bank upon joining the System, thereby becoming "member banks" (12 USCA 282). Since the eight banks Mullins named all operate within the New York Federal Reserve district, and are all nationally chartered banks, they are required to be shareholders of the New York Federal Reserve Bank. They are also probably the major shareholders as Mullins claimed.
Are these eight banks on Mullins' list of stockholders owned by foreigners, what Mullins termed the London Connection? The SEC requires the name of any individual or organization that owns more than 5 percent of the outstanding shares of a publicly traded firm be made public. If foreigners own any shares of Mullins' eight banks, then their portions are not greater than 5 percent at this time. With no significant holdings of the major New York area banks, it does not seem likely that foreign conspirators could direct their actions.
Perhaps foreigners own shares of the New York Federal Reserve Bank directly. The law stipulates a small portion of Federal Reserve stock may be available for sale to the public. No person or organization, however, may own more than $25,000 of such public stock and none of it carries voting rights (12 USCA 283). However, under the terms of the Federal Reserve Act, public stock was only to be sold in the event the sale of stock to member banks did not raise the minimum of $4 million of initial capital for each Federal Reserve Bank when they were organized in 1913 (12 USCA 281). Each Bank was able to raise the necessary amount through member stock sales, and no public stock was ever sold to the non-bank public. In other words, no Federal Reserve stock has ever been sold to foreigners; it has only been sold to banks which are members of the Federal Reserve System (Woodward, 1996).
Regardless of the foreign ownership conjecture, Mullins argued that since the money-center banks of New York owned the largest portion of stock in the New York Fed, they could hand-pick its board of directors and president. This would give them, and hence the London Connection, control over Fed operations and U.S. monetary policy. This argument is faulty because each commercial bank receives one vote regardless of its size, unlike most corporate voting structures in which the number of votes is tied to the number of shares a person holds (Ibid). The New York Federal Reserve district contains over 1,000 member banks, so it is highly unlikely that even the largest and most powerful banks would be able to coerce so many smaller ones to vote in a particular manner. To control the vote of a majority of member banks would mean acquiring a controlling interest in about 500 member banks of the New York district. Such an expenditure would require an outlay in the hundreds of billions of dollars. Surely there is a cheaper path to global domination.
An historical example may make clear that member banks do not control the Federal Reserve's policies. Galbraith (1990) recounted that in the spring of 1929 the New York Stock Exchange was booming. Prices there had been rising considerably, extending the bull market that had begun in 1924. The Federal Reserve Board decided to take steps to arrest the speculative bubble that appeared to have been forming: it raised the cost banks had to pay to borrow from the Federal Reserve and it increased speculators' margin requirements. Charles Mitchell, then the head of National City Bank (today known as Citibank), which was the largest shareholder of the New York Federal Reserve Bank according to Mullins, was so irritated by this decision that in a bank statement he wrote, "We feel that we have an obligation which is paramount to any Federal Reserve warning, or anything else, to avert any dangerous crisis in the money market" (Galbraith, p. 57). National City Bank promised to increase lending to offset any restrictive policies of the Federal Reserve. Wrote Galbraith, "The effect was more than satisfactory: the market took off again. In the three summer months, the increase in prices outran all of the quite impressive increase that had occurred during the entire previous year" (Ibid). If the Fed and its policies were really under the control of its major stockholders, then why did the Federal Reserve Board clearly buck the intent of its single largest shareholder?
This information also eluded fellow conspiracy theorist Gary Kah, who disagreed with Mullins on who owns the New York Fed. His Swiss and Saudi Arabian contacts identified the top eight shareholders as the Rothschild Banks of London and Berlin; Lazard Brothers Banks of Paris; Israel Moses Seif Banks of Italy; Warburg Bank of Hamburg and Amsterdam; Lehman Brothers of New York; Kuhn, Loeb Bank of New York; Chase Manhatten; and Goldman, Sachs of New York (Kah, p. 13). It is impossible to verify Kah's information because it is not known who his "contacts" were. Nevertheless, Kah's list differs substantially from Mullins' compilation. Most interestingly, in Kah's list foreigners own the New York Fed directly without having to own majority interests in U.S. banks, as is the case with Mullins' list. The discrepancies in the two lists mean that at least one of them is wrong, and possibly both. Kah's list is the bogus one because no public stock has ever been issued, so it is not possible for anyone on Kah's list other than Chase Manhatten to own shares of the New York Fed.
Moreover, Kah seemed ignorant of important details about the organization of Federal Reserve stock and management, especially for someone claiming to have done as much research on the subject as he did. He referred to the organizations on his stockholders list as "Class A shareholders," which is curious because Federal Reserve stock is not classified in this manner (Ibid). It can be either member stock, which can be purchased only by commercial banks and thrifts seeking to become members of the Federal Reserve System, or public stock. However, the directors of a Federal Reserve bank are separated into Class A, B, and C categories, depending on how they are appointed (12 USCA 302, 304, 305). Three class A directors are chosen by the member banks. Three class B directors are also elected by the member banks to represent the non-bank sectors of the economy. The final three directors, class C, are picked by the Board of Governors also to represent the non-bank public. This may be the source of Kah's confusion, but it is a relatively simple point that he should have detected had his research efforts been thorough.
Does the New York Fed Call the Shots?
Mullins and Kah further argued that by controlling the New York Fed the international banking elite could command the entire Federal Reserve System, and thus direct U.S. monetary policy for their own profit. "For all practical purposes," Kah stressed, "the Federal Reserve Bank of New York is the Federal Reserve" (Ibid). This is the linchpin of their conspiracy theory because it provides the mechanism by which the international bankers execute their plans.
A brief look at how the Fed's powers over monetary policy are actually distributed shows that the key assumption in the Mullins-Kah conspiracy theory is erroneous. The Federal Reserve System is controlled not by the New York Fed, but by the Board of Governors (the Board) and the Federal Open Market Committee (FOMC). The Board is a seven member panel appointed by the President and approved by the Senate. It determines the interest rate, known as the discount rate, for loans to commercial banks and thrifts, selects the required reserve ratio which determines how much of customer deposits a bank must keep on hand (a factor that significantly affects a bank's ability create new loans), and also decides how much new currency Federal Reserve Banks may issue each year (12 USCA 248). The FOMC consists of the members of the Board, the president of the New York Fed, and four presidents from other Fed Banks. The FOMC formulates open market policy, which determines how much in government bonds the Fed Banks may trade, and is the most effective and commonly used of the Fed's monetary policy tools (12 USCA 263). The key point is that a Federal Reserve Bank cannot change its discount rate or required reserve ratio, issue additional currency, or purchase government bonds without the explicit approval of either the Board or the FOMC.
The New York Federal Reserve Bank through its direct and permanent representation on the FOMC has more say on monetary policy than other Federal Reserve Banks, but it still only has one vote of twelve on the FOMC and no say at all in setting the discount rate or the required reserve ratio. If it wanted monetary policy to go in one direction, while the Board and the rest of the FOMC wanted policy to go another, then the New York Fed would be out-voted. The powers over U.S. monetary policy rest firmly with the publicly-appointed Board of Governors and the Federal Open Market Committee, not with the New York Federal Reserve Bank or a group of international conspirators.
Mullins also made a great to-do about the Federal Advisory Council (the Council). This is a panel of twelve representatives appointed by the board of directors of each Fed Bank. The Council meets at least four times each year with the members of the Board to give them their advice and to discuss general economic conditions (12 USCA 261, 262). Many of the members have been bankers, a point not at all missed by Mullins. He speculated that it is able to force its will on the Board of Governors.
The claim that the "advice" of the council members is not binding on the Governors or that it carries no weight is to claim that four times a year, twelve of the most influential bankers in the United States take time from their work to travel to Washington to meet with the Federal Reserve Board merely to drink coffee and exchange pleasantries (Mullins, p. 45).
A point very much missed by Mullins is that the Council has no voting power in Board meetings, and thus has no direct input into monetary policy. In support of his hypothesis that Council members have been able to impose their will on the Board, Mullins offered no evidence, not even an anecdote. Moreover, his Council theory is inconsistent with his general thesis that the Federal Reserve System is manipulated by European banking interests through their control of the New York Fed. If this were true, then why would they also need the Council?
Who Gets the Fed's Profits?
Gary Kah and Thomas Schauf have also maintained that the huge profits of the Federal Reserve System are diverted to its foreign owners through the dividends paid to its stockholders. Kah reported "Each year billions of dollars are 'earned' by Class A stockholders of the Federal Reserve" (Kah, p. 20). Schauf further lamented by asking, "When are the profits of the Fed going to start flowing into the Treasury so that average Americans are no longer burdened with excessive, unnecessary taxes?"
The Federal Reserve System certainly makes large profits. According to the Board's 1995 Annual Report, the System had net income totaling $23.9 billion, which, if it were a single firm, would qualify it as one of the most profitable companies in the world. How were these profits distributed? By an agreement between the Board of Governors and the Treasury, nearly all of the Fed's annual profits are paid to the federal government. Accordingly, a lion's share of $23.4 billion, which represents 97.9 percent of the Federal Reserve's net income, was transferred to the Treasury. The Federal Reserve Banks kept $283 million, and the remaining $231 million was paid to its stockholders as dividends.
Given that less than one percent of the Fed's net earnings are distributed as dividends, it seems that an investor could easily find much more profitable ways to store their wealth than buying Federal Reserve stock. Regarding Schauf's lamentation, the Federal Reserve System has been paying its profits to the Treasury since 1947.
Conclusion
It does not appear that the New York Federal Reserve Bank is owned, either directly or indirectly, by foreigners. Neither Mullins nor Kah provided verifiable sources for their allegations, nor did their mysterious sources agree on exactly who owns the New York Federal Reserve Bank. Moreover, their central assumption that control of the New York Federal Reserve is the same as control of the whole System is wrong and demonstrates a lack of understanding of the System's basic organizational structure. The profits of the Federal Reserve System, again contrary to the assertion of Kah and Schauf, are funneled back to the federal government, not to an "international banking elite." If the U.S. central bank is in the grip of a banking conspiracy, then Mullins and Kah have certainly not uncovered it.
--------------------------------------------------------------------------------
by Dr. Edward Flaherty, University of Charleston
Last updated July 18, 1997
References:
82nd Annual Report, 1995. Board of Governors of the Federal Reserve System. U.S. Government Printing Office.
Galbraith, John K. 1990. A Short History of Financial Euphoria. New York: Whittle Direct Books.
Kah, Gary. 1991. En Route to Global Occupation. Lafayette, La.: Huntington House.
Mullins, Eustace. 1983. Secrets of the Federal Reserve. Staunton, Va.: Bankers Research Institute.
Shauf, Thomas. 1992. The Federal Reserve. Streamwood, IL: FED-UP, Inc.
Woodward, G. Thomas. 1996. "Money and the Federal Reserve System: Myth and Reality." Congressional Research Service
United States Code Annotated. 1994. U.S. Government Printing Office.
Πέμπτη 15 Ιουλίου 2010
Τετάρτη 14 Ιουλίου 2010
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