profane but enlightened
The Federal Reserve Cartel Part IV: The Financial Parasite
The Federal Reserve remains the largest question in Americans lives. Henderson believes things will only get better for Americans when we nationalize the Fed. In part IV, “The Federal Reserve Cartel: Part IV: A Financial Parasite,” Henderson updates larger financial landscape detailing merger mania and commercial banking to the present. Henderson begins with The Federal Reserve Act, which represented another shot at establishing a private central bank similar to the much reviled Aldrich Plan. In the early decades of the 20th Century, people possessed a healthy and justified suspicion of Eastern establishment and bankers. “Colonel Ely Garrison was a close friend of both President Teddy Roosevelt and President Woodrow Wilson. Garrison wrote in Roosevelt, Wilson and the Federal Reserve, ‘Paul Warburg was the man who got the Federal Reserve Act together after the Aldrich Plan aroused such nationwide resentment and opposition. The mastermind of both plans was Baron Alfred Rothschild of London.'”
“The Aldrich Plan was hatched at a secret 1910 meeting at JP Morgan’s private resort on Jekyll Island, SC, between Rockefeller lieutenant Nelson Aldrich and Paul Warburg of the German Warburg banking dynasty. Aldrich, a New York congressman, later married into the Rockefeller family…While the bankers met, Colonel Edward House, another Rockefeller stooge and close confidant of President Woodrow Wilson, was busy convincing Wilson of the importance of a private central bank and the introduction of a national income tax.”
“…Wilson’s main focus was on overcoming public distrust of the bankers, which New York City Mayor John Hylan echoed in 1911 when he argued, ‘The real menace to our republic is the invisible government which, like a giant octopus, sprawls its slimy length over our city, state and nation. At the head is a small group of banking houses, generally referred to as the international bankers’…But the Eight Families prevailed. In 1913 the Federal Reserve Bank was born, with Paul Warburg its first Governor. ” writes Henderson. This is the pivotal point where yoke foisted upon shoulders of American people.
The public perception of the Fed remains in error, writes Henderson: “Though most Americans think of the Federal Reserve as a government institution, it is privately held by the Eight Families.” Henderson makes also a little known observation about Fed: “The Secret Service is employed, not by the Executive Branch, but by the Federal Reserve.”
An income tax came in 1917 and how elite shielded themselves from tax. “The year 1917 also saw the 16th Amendment added to the US Constitution, levying a national income tax, though it was ratified by only two of the required 36 states. The IRS is a private corporation registered in Delaware. Four years earlier the Rockefeller Foundation was launched, to shield family wealth from the new income tax provisions, while steering public opinion through social engineering. One of its tentacles was the General Education Board.”
Henderson summarizes elite view of general population’s role in their order of things: “In Occasional Letter #1, the Board states, ‘In our dreams we have limitless resources and the people yield themselves with perfect docility to our molding hands. The present education conventions fade from their minds and, unhampered by tradition, we will work our own good will upon a grateful and responsive rural folk. We shall try not to make these people or any of their children into philosophers or men of learning or men of science…of whom we have ample supply.'”
Mergers and trebling debt illustrates advantages of elite: “When the Fed was created five New York banks – Citibank, Chase, Chemical Bank, Manufacturers Hanover and Bankers Trust – held a 43% stake in the New York Fed. By 1983 these same five banks owned 53% of the NY Fed. By year 2000, the newly merged Citigroup, JP Morgan Chase and Deutsche Bank combines owned even bigger chunks, as did the European faction of the Eight Families. Collectively they own majority stock in every Fortune 500 corporation and do the bulk of stock and bond trading. In 1955 the above five banks accounted for 15% of all stock trades. By 1985 they were involved in 85% of all stock transactions.”
“…President Reagan pushed through SEC Rule 415, which helped consolidate securities underwriting in the hands of six large investment houses owned by the Eight Families: Goldman Sachs, Merrill Lynch, Morgan Stanley, Salomon Brothers, First Boston and Lehman Brothers. These banks further consolidated their power via the merger mania of 1980s and 1990s.”
“Following the Lehman Brothers fiasco and the ensuing financial meltdown of 2008, the Four Horsemen of Banking got even bigger. For pennies on the dollar, JP Morgan Chase was handed Bear Stearns and Washington Mutual. Bank of America commandeered Merrill Lynch and Countrywide. And Wells Fargo seized control over the reeling #5 US bank Wachovia. Barclays got a sweetheart deal for the remains of Lehman Brothers.”
Perhaps, it’s overlooked, elite/banksters benefit directly from servicing debt. “Since the creation of the Federal Reserve, US debt (mostly owed to the Eight Families) has skyrocketed from $1 billion to nearly $14 trillion today. This far surpasses the total of all Third World country debt combined, debt which is mostly owed to these same Eight Families, who own most all the world’s central banks,” writes Henderson. Are you beginning to see where Private Central Banking benefits only the banksters and their goal for the rest of us, is crushing debt!
Part 1: Eight Families