Wall Street and the Rise of Hitler (26 page)

Henry Ford was an early (1922) Hitler backer and Edsel Ford continued the family tradition in 1942 by encouraging French Ford to profit from arming the German Wehrmacht, Subsequently, these Ford-produced vehicles were used against American soldiers as they landed in France in 1944. For his early recognition of, and timely assistance to, the Nazis, Henry Ford received a Nazi medal in 1938. The records of French Ford suggest Ford Motor received kid glove treatment from the Nazis after 1940.

The provable threads of Hitler financing are drawn together in Chapter Seven and answer with precise names and figures the question, who financed Adolf Hitler? This chapter indicts Wall Street and, incidentally, no one else of consequence in the United States except the Ford family. The Ford family is not normally associated with Wall Street but is certainly http://reformed-theology.org/html/books/wall_street/chapter_12.htm (2 of 11) [8/4/2001 9:44:21 PM]

CHAPTER TWELVE: Conclusions

a part of the "power elite."

In earlier chapters we cited several Roosevelt associates, including Teagle of Standard Oil, the Warburg family, and Gerard Swope. In Chapter Eight the role of Putzi Hanfstaengl, another Roosevelt friend and a participant in the Reichstag fire, is traced. The composition of the Nazi inner circle during World War II, and the financial contributions of Standard Oil of New Jersey and I.T.T. subsidiaries, are traced in Chapter Nine. Documentary proof of these monetary contributions is presented. Kurt yon Schrader is identified as the key intermediary in this S.S. "slush fund."

Finally, in Chapter Ten we reviewed a book suppressed in 1934 and the "myth of 'Sidney Warburg.'" The suppressed book accused the Rockefellers, the Warburgs, and the major oil companies of financing Hitler. While the name "Sidney Warburg" was no doubt an invention, the extraordinary fact remains that the argument in the suppressed "Sidney Warburg" book is remarkably close to the evidence presented now. It also remains a puzzle why James Paul Warburg, fifteen years later, would want to attempt, in a rather transparently slipshod manner, to refute the contents of the "Warburg" book, a book he claims not to have seen. It is perhaps even more of a puzzle why Warburg would choose Nazi von Papen's
Memoirs
as the vehicle to present his refutation.

Finally, in Chapter Eleven we examined the roles of the Morgan and Chase Banks in World War II, specifically their collaboration with the Nazis in France while a major war was raging.

In other words, as in our two previous examinations of the links between New York international bankers and major historical events, we find a provable pattern of subsidy and political manipulation.

The Pervasive Influence of International Bankers

Looking at the broad array of facts presented in the three volumes of the Wall Street series, we find persistent recurrence of the same names: Owen Young, Gerard Swope, Hjalmar Schacht, Bernard Baruch,
etc.;
the same international banks: J.P. Morgan, Guaranty Trust, Chase Bank; and the same location in New York: usually 120 Broadway.

This group of international bankers backed the Bolshevik Revolution and subsequently profited from the establishment of a Soviet Russia. This group backed Roosevelt and profited from New Deal socialism. This group also backed Hitler and certainly profited from German armament in the 1930s. When Big Business should have been running its business operations at Ford Motor, Standard of New Jersey, and so on, we find it actively and deeply involved in political upheavals, war, and revolutions in three major countries.

The version of history presented here is that the financial elite knowingly and with premeditation assisted the Bolshevik Revolution of 1917 in concert with German bankers.

After profiting handsomely from the German hyper-inflationary distress of 1923, and planning to place the German reparations burden onto the backs of American investors, Wall Street found it had brought about the 1929 financial crisis.

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CHAPTER TWELVE: Conclusions

Two men were then backed as leaders for major Western countries: Franklin D. Roosevelt in the United States and Adolf Hitler in Germany. The Roosevelt New Deal and Hitler's Four Year Plan had great similarities. The Roosevelt and Hitler plans were plans for fascist takeovers of their respective countries. While Roosevelt's NRA failed, due to then-operating constitutional constraints, Hitler's Plan succeeded.

Why did the Wall Street elite, the international bankers, want Roosevelt and Hitler in power? This is an aspect we have not explored. According to the "myth of 'Sidney Warburg,'" Wall Street wanted a policy of revenge; that is, it wanted war in Europe between France and Germany. We know even from Establishment history that both Hitler and Roosevelt acted out policies leading to war.

The link-ups between persons and events in this three-book series would require another book. But a single example will perhaps indicate the remarkable concentration of power within a relatively few organizations, and the use of this power.

On May 1st, 1918, when the Bolsheviks controlled only a small fraction of Russia (and were to come near to losing even that fraction in the summer of 1918), the American League to Aid and Cooperate with Russia was organized in Washington, D.C. to support the Bolsheviks. This was not a "Hands off Russia" type of committee formed by the Communist Party U.S.A. or its allies. It was a committee
created by Wall Street
with George P. Whalen of Vacuum Oil Company as Treasurer and Coffin and Oudin of General Electric, along with Thompson of the Federal Reserve System, Willard of the Baltimore & Ohio Railroad, and assorted socialists.

When we look at the rise of Hitler and Naziism we find Vacuum Oil and General Electric well represented. Ambassador Dodd in Germany was struck by the monetary and technical contribution by the Rockefeller-controlled Vacuum Oil Company in building up military gasoline facilities for the Nazis. The Ambassador tried to warn Roosevelt. Dodd believed, in his apparent naiveté of world affairs, that Roosevelt would intervene, but Roosevelt himself was backed by these same oil interests and Walter Teagle of Standard Oil of New Jersey and the NRA was on the board of Roosevelt's Warm Springs Foundation. So, in but one of many examples, we find the Rockefeller-controlled Vacuum Oil Company prominently assisting in the creation of Bolshevik Russia, the military build-up of Nazi Germany, and backing Roosevelt's New Deal.

Is the United States Ruled by a Dictatorial Elite?

Within the last decade or so, certainly since the 1960s, a steady flow of literature has presented a thesis that the United States is ruled by a self-perpetuating and unelected power elite. Even further, most of these books aver that this elite controls, or at the least heavily influences, all foreign and domestic policy decisions, and that no idea becomes respectable or is published in the United States without the tacit approval, or perhaps lack of disapproval, of this elitist circle.

Obviously the very flow of anti-establishment literature by itself testifies that the United States cannot be wholly under the thumb of any single group or elite. On the other hand, http://reformed-theology.org/html/books/wall_street/chapter_12.htm (4 of 11) [8/4/2001 9:44:21 PM]

CHAPTER TWELVE: Conclusions

anti-establishment literature is not fully recognized or reasonably discussed in academic or media circles. More often than not it consists of a limited edition, privately produced, almost hand-to-hand circulated. There are
some
exceptions, true; but not enough to dispute the observation that anti-establishment critics do not easily enter normal information/distribution channels.

Whereas in the early and mid-1960s, any concept of rule by a conspiratorial elite, or indeed any kind of elite, was reason enough to dismiss the proponent out of hand as a "nut case,"

the atmosphere for such concepts has changed radically. The Watergate affair probably added the final touches to a long-developing environment of skepticism and doubt. We are almost at the point where anyone who accepts, for example, the Warren Commission report, or believes that that the decline and fall of Mr. Nixon did not have some conspiratorial aspects, is suspect. In brief, no one any longer really believes the Establishment information process. And there is a wide variety of alternative presentations of events now available for the curious.

Several hundred books, from the full range of the political and philosophical spectrum, add bits and pieces of evidence, more hypotheses, and more accusations. What was not too long ago a kooky idea, talked about at midnight behind closed doors, in hushed and almost conspiratorial whispers, is now openly debated — not, to be sure, in Establishment newspapers but certainly on non-network radio talk shows, the underground press, and even from time to time in books from respectable Establishment publishing houses.

So let us ask the question again: Is there an unelected power elite behind the U.S.

Government?

A substantive and often-cited source of information is Carroll Quigley, Professor of International Relations at Georgetown University, who in 1966 had published a monumental modern history entitled
Tragedy and Hope.
1
Quigley's book is apart from others in this revisionist vein, by virtue of the fact that it was based on a two-year study of the internal documents of one of the power centers. Quigley traces the history of the power elite:

... the powers of financial capitalism had another far reaching aim, nothing
less than to create a world system of financial control in private hands able to
dominate the political system of each country and the economy of the world as
a whole.

Quigley also demonstrates that the Council on Foreign Relations, the National Planning Association, and other groups are "semi-secret" policy-making bodies under the control of this power elite.

In the following tabular presentation we have listed five such revisionist books, including Quigley's. Their essential theses and compatibility with the three volumes of the "Wall Street" series are summarized. It is surprising that in the three major historical events noted, Carroll Quigley is not at all consistent with the "Wall Street" series evidence. Quigley goes a long way to provide evidence for the
existence
of the power elite, but does not penetrate the
operations
of the elite.

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CHAPTER TWELVE: Conclusions

Possibly, the papers used by Quigley had been vetted, and did not include documentation on elitist manipulation of such events as the Bolshevik Revolution, Hitler's accession to power, and the election of Roosevelt in 1933. More likely, these political manipulations may not be recorded at all in the files of the power groups. They may have been unrecorded actions by a small
ad hoc
segment of the elite. It is noteworthy that the documents used by this author came from government sources, recording the day-to-day actions of Trotsky, Lenin, Roosevelt, Hitler, J.P. Morgan and the various firms and banks involved.

On the other hand, such authors as Jules Archer, Gary Allen, Helen P. Lasell, and William

Domhoff, writing from widely different political standpoints2
are
consistent with the "Wall Street" evidence. These writers present a hypothesis of a power elite manipulating the U.S.

Government. The "Wall Street" series demonstrates how this hypothesized "power elite" has manipulated specific historical events.

Obviously any such exercise of unconstrained and supra-legal power is unconstitutional, even though wrapped in the fabric of law-abiding actions. We can therefore legitimately raise the question of the existence of a subversive force operating to remove constitutionally guaranteed rights.

The New York Elite as a Subversive Force

Twentieth-century history, as recorded in Establishment textbooks and journals, is inaccurate. It is a history which is based solely upon those official documents which various Administrations have seen fit to release for public consumption.

Table: IS THE EVIDENCE IN THE "WALL STREET" SERIES CONSISTENT WITH

RELATED REVISIONIST ARGUMENTS PRESENTED ELSEWHERE?

But an accurate history cannot be based on a selective release of documentary archives.

Accuracy requires access to all documents. In practice, as previously classified documents in the U.S. State Department files, the British Foreign Office, and the German Foreign Ministry archives and other depositories are acquired, a new version of history has emerged; the prevailing Establishment version is seen to be, not only inaccurate, but designed to hide a pervasive fabric of deceit and immoral conduct.

The center of political power, as authorized by the U.S. Constitution, is with an elected Congress and an elected President, working within the framework and under the constraints of a Constitution, as interpreted by an unbiased Supreme Court. We have in the past
assumed
that political power is consequently carefully exercised by the Executive and legislative branch, after due deliberation and assessment of the wishes of the electorate. In fact, nothing could be further from this assumption. The electorate has long suspected, but now knows, that political promises are worth nothing. Lies are the order of the day for policy implementors. Wars are started (and stopped) with no shred of coherent explanation.

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CHAPTER TWELVE: Conclusions

representatives in Washington, and this power elite has its own objectives, which are inconsistent with those of the public at large.

In this three-volume series we have identified for three historical events the seat of political power in the United States — the power behind the scenes, the hidden influence on Washington — as that of the financial establishment in New York: the private international bankers, more specifically the financial houses of J.P. Morgan, the Rockefeller-controlled Chase Manhattan Bank, and in earlier days (before amalgamation of their Manhattan Bank with the former Chase Bank), the Warburgs.