Category Archives: Banking

Confessions of a Monopolist by Frederic C. Howe

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by DAVID BROWN | CLEARNFO.com | November 18, 2014
“Competition is a sin.”  — John D. Rockefeller

Portrait of Frederic C. Howe.

Portrait of Frederic C. Howe.

Through this I learned the explanation of the growth of monopoly in recent years. It is done in this way. The savings of the people, running into the millions, are deposited in the banks, savings institutions and trust companies. The latter enjoy immense powers under their charters. They can do almost anything. Thus entrusted with the people’s money, they are able to use their savings as they wish. The bank is controlled by its directors. They desire to build a railroad, street railway, or consolidate some industries or coal mines. They organize a syndicate among themselves. They secure options on the property. They then arrange to secure a loan on mortgage. On this they issue bonds. These the bank or trust company, which the syndicate really controls, agrees to underwrite, or take off the syndicate’s hands at par, or something below par. On these bonds money is advanced to buy the properties. Then the trust company sells the bonds to its depositors or customers at an advance, while the capital stock of the railroad, street railway, trust or coal monopoly, for which it has paid nothing, is retained by the syndicate. The bank has advanced all of the money used. And this money was earned by the people, the depositors. Then the people, and in many instances the depositors, buy back the bonds for an investment, leaving the cream of the deal in the hands of the syndicate, which is in fact but the officers of the bank who have borrowed from themselves and kept the stock for themselves. The next step is to make the stock valuable. This is done by putting up railroad rates, the price of commodities, of coal, or whatever else the syndicate is operating in. Thus the circle is completed. The people’s money is used to buy properties which are taken in the name of the syndicate, who are really the directors of the bank. Then the properties are consolidated and a lot of water in the form of stock added to the purchase price. Then the people pay again to their own trustees a big profit, by being compelled to pay monopoly prices for the things they consume.

— Confessions of a Monopolist by Frederic C. Howe

Chapter 6, pages 77 – 79
I Enter the Coal Business, Become a Railway Magnate, and Discover the Secret of Monopoly
Approximate date of this writing is 1895

Full Text Here.
 

Wall Street and FDR

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Wall Stree and FDRWall Street and FDR by Antony C. Sutton

Franklin D. Roosevelt is frequently described as one of the greatest presidents in American history, remembered for his leadership during the Great Depression and Second World War. Antony Sutton challenges this received wisdom, presenting a controversial but convincing analysis. Based on an extensive study of original documents, he concludes that: * FDR was an elitist who influenced public policy in order to benefit special interests, including his own. * FDR and his Wall Street colleagues were ‘corporate socialists’, who believed in making society work for their own benefit. * FDR believed in business but not free market economics. Sutton describes the genesis of ‘corporate socialism’ – acquiring monopolies by means of political influence – which he characterizes as ‘making society work for the few’. He traces the historical links of the Delano and Roosevelt families to Wall Street, as well as FDR’s own political networks developed during his early career as a financial speculator and bond dealer. The New Deal almost destroyed free enterprise in America, but didn’t adversely affect FDR’s circle of old friends ensconced in select financial institutions and federal regulatory agencies. Together with their corporate allies, this elite group profited from the decrees and programs generated by their old pal in the White House, whilst thousands of small businesses suffered and millions were unemployed. Wall Street and FDR is much more than a fascinating historical and political study. Many contemporary parallels can be drawn to Sutton’s powerful presentation given the recent banking crises and worldwide governments’ bolstering of private institutions via the public purse.

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Wall Street & the Rise of Hitler

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Wall Street and the Rise of Hitler ‘Wall Street & the Rise of Hitler’ by Antony C. Sutton

Makes every previous book on World War II Obsolete

Finally, a distinguished scholar has penetrated the cloak of falsehood, deception, and duplicity that for more than thirty years has protected one of the most incredible secrets of World War II: the support from key Wall Street financiers and other international bankers in subsidizing Hitler’s rise to power.

Professor Antony C. Sutton proves that World War II was not only well planned, it was also extremely profitable – for a select group of financial insiders. Carefully tracing this closely guarded secret through original documents and eyewitness accounts, Sutton documents the roles played by J.P. Morgan, T.W. Lamont, the Rockefeller interests, General Electric Company, Standard Oil, National City Bank, Chase and Manhattan banks, Kuhn, Loeb and Company, and scores of other business elitists.

‘Wall Street and the Rise of Hitler’ shows how the bloodiest, most destructive war in history was financed and promoted.

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The Creature from Jekyll Island

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I‘ve seen G Edward Griffin’s lecture on the Federal Reserve called the ‘Creature from Jekyll Island’ when he was much older than in the  video below.  This video is about twice as long as the one Ive seen so may contain some additional detail. I’ve posted it here just in case you are not aware of this very important information on how the Federal Reserve was conceived.  He has other great videos and books if you are interested.  Enjoy.

The Creature from Jekyll Island

War is Big Business

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by DAVID BROWN | CLEARNFO.com | November 09, 2014

money-bag-400301_150War is big business for the military-industrial complex and the bankers. The USA is the world’s largest arms manufacturer and exporter.

Below is a list of major conflicts from the October Revolution in 1917 –which was financed by U.S. Bankers– to 2014.   After a small group of private bankers hit the jackpot and were granted a monopoly over the U.S. money supply in 1913, they wasted no time financing both sides of the Bolshevik Revolution, WWI, WWII, the Vietnam war and others.   Yes, your tax dollars and American bankers funded the weapons used to kill your sons and daughters.   When will enough be enough?

US Military Spending

US Military Spending

Business is good and the war machine has been busy, see below …

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Coincidence?

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by DAVID BROWN | CLEARNFO.com | November 03, 2014

In 1913, both the 16th Amendment was adopted and the Federal Reserve act was enacted under a Progressive President.  Coincidence?

The Sixteenth Amendment  to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on the United States Census.

The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch. 3) is an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes (now commonly known as the U.S. Dollar) and Federal Reserve Bank Notes as legal tender.

Woodrow Wilson was president of the United States from 1913 to 1921 and leader of the Progressive Movement.

President_Woodrow_Wilson_portrait_December_2_1912

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” -Woodrow Wilson, after signing the Federal Reserve into existence”

— Woodrow Wilson

History we never knew

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by DAVID BROWN | CLEARNFO.com | October 20, 2014

In an effort to better understand today’s political and economic structures, it is important to take a look back to discover from whence they came and how they arrived at the apex of the predominant power structure we see all around us today.

Like no other, Carroll Quigley gave us a back-stage introduction of the actual workings of the network who shaped yesterday’s world. (See: Anglo-American Establishment and Tragedy and Hope) In today’s world, we see these same forces, structures and techniques at work from the happy heirs of the power structure set into motion by the Anglo-American Establishment. Some of the names have changed, but there exists an unmistakable lineage that can be exposed by fact, not conjecture or theory.
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How it really works …

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rockefeller_carnegie_morgan

by DAVID BROWN | CLEARNFO.com | October 18, 2014

“Old John D. Rockefeller and his 19th century fellow-capitalists were convinced of one absolute truth: that no great monetary wealth could be accumulated under the impartial rules of a competitive laissez faire society. The only sure road to the acquisition of massive wealth was monopoly: drive out your competitors, reduce competition, eliminate laissez-faire, and above all get state protection for your industry through compliant politicians and government regulation. This last avenue yields a legal monopoly, and a legal monopoly always leads to wealth.

This robber baron schema is also, under different labels, the socialist plan. The difference between a corporate state monopoly and a socialist state monopoly is essentially only the identity of the group controlling the power structure. The essence of socialism is monopoly control by the state using hired planners and academic sponges. On the other hand, Rockefeller, Morgan, and their corporate friends aimed to acquire and control their monopoly and to maximize its profits through influence in the state political apparatus; this, while it still needs hired planners and academic sponges, is a discreet and far more subtle process than outright state ownership under socialism. Success for the Rockefeller gambit has depended particularly upon focusing public attention upon largely irrelevant and superficial historical creations, such as the myth of a struggle between capitalists and communists, and careful cultivation of political forces by big business. We call this phenomenon of corporate legal monopoly—market control acquired by using political influence—by the name of corporate socialism.”

Antony C. Sutton
Wall Street and FDR
(Page 72, THE ORIGINS OF CORPORATE SOCIALISM)

 

1 of 101 Truths You Were Never Taught

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What large corporations discovered long ago was that the policing power of the state provides the missing link in maintaining their monopolies by using government to remove their pesky competition in the free market. So it is no surprise that these same large corporations endeavor at every opportunity to strengthen the hand of their government partner; whether you call it Socialism, Marxism or Communism or anything else does not matter. What matters is that the power of the state is ‘collectivized’ to capture the market consisting of the captured citizens. Of course the heads of these corporations are citizens too but most consider themselves citizens of the world without nationality and owe no allegiance to any country. The lack of prosecutions of blatantly illegal acts by these same ‘World Citizens’ represents empirical evidence that these ‘elites’ are truly above the laws that apply to everyone else. Thus, through collectivism of the populous and their close partnership with Government, we have today not free market capitalism but corporatism or crony capitalism or as Benito Mussolini called it Fascism.

“Competition is a sin.” – John D. Rockefeller

Wall Street and the Bolshevik Revolution: The Remarkable True Story of the American Capitalists Who Financed the Russian Communists

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by DAVID BROWN | CLEARNFO.com | Oct. 6, 2014

Wall Street and the Bolshevik revMany of us have taken the time to discover how the Federal Reserve was brought into existence by a few self-serving and very dishonest private bankers back in 1913; I doubt many have looked into the history of the Bolshevik Revolution October of 1917, which was financed and carried out by some of the same characters who brought us the Federal Reserve Act of 1913.

What I can tell you about the history of Russia, is  tyrants have ruled the peoples located there since the beginning of written history; so it was with amazement I learned Russians had a real chance at freedom after the overthrow of the Russian Empire which had existed from 1721 to February 1917.  For eight months –between February and October of 1917–  Russia was ruled by a provisional government.  During this eight month period of time, there was a strong Libertarian movement, and the Russian people had a real chance at freedom; but this chance was eliminated by the same folks who brought America the Federal Reserve. In fact, one of the major actors who helped finance the enslavement of the Russian people was none other than William Boyce Thompson  of the Federal Reserve Bank of New York from 1914 to 1919.

Wall Street and the Bolshevik Revolution: The Remarkable True Story of the American Capitalists Who Financed the Russian Communists

PDF Copy Here

NOTE: Another great book is the ‘Anglo-American Establishment’ by Carroll Quigley. These two books together are essential to understand what really happened in the Bolshevik Revolution, WWI and WWII.