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All The Presidents' Bankers: The World Bank And The IMF

Tyler Durden's picture




 

The following is an excerpt from ALL THE PRESIDENTS’ BANKERS: The Hidden Alliances that Drive American Power by Nomi Prins (on sale April 8, 2014).  Reprinted with permission from Nation Books. Nomi Prins is a former managing director at Goldman Sachs.
 

The World Bank and the IMF: Expanding Wall Street’s Reach Worldwide

Just after the United States entered World War II, two simultaneous initiatives unfolded that would dictate elements of financing after the war, through the joint initiatives of foreign policy measures and private banking whims. Plans were already being formulated to navigate the postwar peace, especially its international power implications for finance and politics, in the background. American political leaders and scholars began considering the concept of “one world” from an economic perspective, void of divisions and imbalances. Or so the theory went.

The original plans to create a set of multinational entities that would finance one-world reconstruction and development (and ostensibly balance the world’s various economies) were conceived by two academics: John Maynard Keynes, an adviser for the British Treasury, and Harry Dexter White, an economist in the Division of Monetary Research of the US Treasury under Treasury Secretary Henry Morgenthau.

By the spring of 1942, White had drafted plans for a “stabilization fund” and a “Bank for Reconstruction and Development.” His concept for the fund became the seed for the International Monetary Fund. The other idea became the World Bank. But before those entities would come to life through the Bretton Woods conferences, many arguments about their makeup would take place, and millions of lives would be lost.

Keynes, White, and Power Transfer to the United States

By early 1944, nearly two-thirds of the European GNP had been devoted to war; millions of people had been slaughtered. But six months after the complete liberation of Leningrad, it was the international financial aspects of the coming peace that exercised the imagination of the policy elites. In July 1944, 730 delegates representing the forty-four Allied nations convened at the Mount Washington Hotel in Bretton Woods, New Hampshire. Amid picturesque mountains, hiking trails, and oppressive heat, they sat to determine the postwar economic system.

For three weeks, they debated the charter for the International Monetary Fund and discussed how the International Bank for Reconstruction and Development, or the “World Bank,” would operate.

White and Keynes had competed for influence over this final result for the past two years. To a large extent, the personal vehemence of each man aside, they did so as an extension of the jockeying for position between the United States and Britain as the incoming and outgoing financial superpowers. At first, virtually every American banker and politician opposed the main aspects of Keynes’s plans, particularly his idea about creating a new global currency—the unitas—that would supersede gold and the dollar.

Many subsequent histories of the Bretton Woods Conference consider the final doctrines for the IMF and World Bank as representing a clear compromise between White and Keynes. But they leaned far more toward White’s model and vision.

From the bankers’ standpoint, White’s model was more tolerable because it preserved the supremacy of the dollar. Former President James A. Garfield once said, “He who controls the money supply of a nation controls the nation.” But in the negotiations surrounding those Bretton Woods meetings, the mantra was more “Those who control the banks backed by the currency that dominates the world control world finance.”

While final drafts snaked through Congress after the July 1944 meetings, one key US banker maintained his public opposition to Bretton Woods. Even after it became clear that the multinational entities would be dollar-based, Chase chairman Winthrop Aldrich remained opposed to the idea. Mostly, he feared the slightest amount of competition from any uncontrollable source. Though Aldrich favored removing trade barriers, which would provide the US banks a wider field for cross-border financing, he didn’t want some supranational entity getting in the way of private lending to facilitate that trade.

In his “Proposed Currency Plan” of September 16, 1944, Aldrich slammed the accords, which he saw as a distinct challenge to the power of private banks. “The IMF,” he said, “would become a mechanism for instability rather than stability since it would encourage exchange-rate alterations.”

Like most bankers, Aldrich was fine with the World Bank taking responsibility for exchange-stabilization lending. That element would aid bankers; a supranational entity providing monies to struggling countries would bolster them sufficiently to be able to borrow more through private banks. But bankers didn’t want a fund constructed as a competing lending mechanism that could possibly take business away from them, operating in the guise of economic security.

Aldrich warned, “We shall have the shadow of stability without the substance. . . . Perhaps the most dangerous aspect of the Bretton Woods proposals is that they serve as an obstacle to the immediate consideration and solution of these basic problems.”

Aldrich’s public outcry was unsettling to President Roosevelt and Treasury Secretary Robert Morgenthau, who knew that it was politically important to get all the main bankers’ support. Not only did they hold a solid proportion of US Treasury debt; they had become the distribution mechanisms of that debt to more and more citizens and countries. There couldn’t be an IMF without the support of private lenders, and if the US was going to be in command of such an entity from a global perspective, US bankers had to be on board. Concession to the bankers wasn’t a matter of empty appeasement but of economic supremacy.

The American Bankers Association, on which Aldrich was a board member, also wanted to restrict the IMF’s powers. Burgess, who served as chairman of the American Bankers Association and National City Bank vice chairman, was unwilling to back the Bretton Woods proposals unless White made more concessions to reinforce the supremacy of the US banks and the dollar. He would play hardball and get Morgenthau involved if he had to.

Though White refused to bow to Burgess’s requests, Congress incorporated them into the final documents. To make the bankers happy, a compromise was fashioned that restricted the IMF funds to loans offsetting short-term exchange rate fluctuations, such as when one country has a sharp and sudden shift in the value of its currency relative to another. That loophole left plenty of room for banks to supply aggressive financing to developing nations over the loosely defined longer-term. It also meant that all nations receiving short- term assistance from the IMF would likely be on the hook for more expensive debt at the hands of the bankers in tandem, or later. But in the scheme of White’s plan, this alteration was more cosmetic than substantial.

The Bretton Woods Agreement

Congress approved the Bretton Woods agreement on July 20, 1945. Twenty- seven other countries joined as well. The Soviet Union did not. It was a portent of how rapidly the world was falling into the Cold War and how rapidly the United States was forging its own foreign alliances in the postwar economy.

By the time the Bretton Woods delegates reconvened to settle the final details of the agreement at Savannah, Georgia, in March 1946, Churchill had already coined the term “the Iron Curtain” to describe the line between Communist Soviet Union and the West in his famous “Sinews of Peace” speech at Westminster College.

In addition to the growing Cold War mentality, or perhaps because of it, expectations that White would lead the IMF were squashed when the FBI alerted President Truman that White and other senior civil servants had passed secret intelligence to the Soviet Union. It’s doubtful that Truman believed the allegations; though he took White out of the bidding for the head position, White remained an executive director.

The incident served as a precedent for how the top positions at the World Bank and the IMF would be allocated along political-geographical lines. The post was offered instead to Belgian economist Camille Gutt, establishing the protocol whereby the IMF would be headed by a Western European and the World Bank by an American.

But while politics dictated the initial leadership choices, private bankers’ behavior would soon overshadow the functions of both bodies. Despite their “international” monikers, the World Bank and the IMF disproportionately served the interests of the Western European nations that were most important to the United States from the get-go. The bankers could exert their influence over both entities to expand their own enterprises.

Later, another element that reinforced this dynamic was added. Thanks to a minor technicality introduced by Truman’s Treasury secretary, John Snyder, “aid monies” to “friendly” (or large and friendly) countries would be considered “grants,” which would not show up as national debt, thereby providing the illusion of better economic health. Money granted for military operations or the friendly countries would not show up as debt either. This presented a foreign business opportunity whereby banks could provide loans at better terms to larger countries and make more money off higher interest loans to developing ones because of the disparity in their perceived debt loads.

In addition, as Martin Mayer observed in his classic book The Bankers, “the growing and unregulated Eurodollar market would become a cauldron of out-of-control debt and heady profits for US banks.” Through this market, many of the major midcentury postwar loans would be made.

Making the World Bank Work for Wall Street

Congress had established the National Advisory Council to be the “coordinating agency for United States international financial policy” and as a mechanism to direct that policy through the international financial organizations. In particular, the council dealt with the settlement of lend-lease and other wartime arrangements, including the terms of foreign loans, details of assistance programs, and the evolving policies of the IMF and World Bank. As chairman of the National Advisory Council, U.S Treasury secretary John Snyder carried a vast amount of influence over those entities, as many major decisions were discussed privately at the council meetings and decided upon there.

There was one ambitious lawyer who understood the significance of Snyder’s role. That was John McCloy, an outspoken Republican whose career would traverse many public service and private roles (including the chairmanship of Chase in the 1950s), and who had just served as assistant secretary of war under FDR’s war secretary, Henry Stimson. McCloy and Snyder would form an alliance that would alter the way the World Bank operated, and the influence that private bankers would have over it.

It was Snyder who made the final decision to appoint McCloy as head of the World Bank. McCloy, a stocky Irishman with steely eyes, had been raised by his mother in Philadelphia. He went on to become the most influential banker of the mid-twentieth century. He had been a partner at Cravath, Henderson, and de Gersdorff, a powerful Wall Street law firm, for a decade before he was tapped to enter FDR’s advisory circle.

After the war, McCloy returned to his old law firm, but his public service didn’t translate into the career trajectory that he had hoped for. Letting his impatience be known, he received many offers elsewhere, including an ambassadorship to Moscow; the presidency of his alma mater, Amherst College; and the presidency of Standard Oil. At that point, none other than Nelson Rockefeller swooped in with an enticing proposition that would allow McCloy to stay in New York and get paid well—as a partner at the family’s law firm, Milbank, Tweed, Hope, and Hadley.

The job brought McCloy the status he sought. He began a new stage of his private career at Milbank, Tweed on January 1, 1946. The firm’s most import- ant client was Chase, the Rockefeller’s family bank. But McCloy would soon return to Washington.

Truman had appointed Eugene Meyer, the seventy-year-old veteran banker and publisher of the Washington Post, to be the first head of the World Bank. But after just six months, Meyer abruptly announced his resignation on December 4, 1946. Officially, he explained he had only intended to be there for the kick-off. But privately, he admitted that his disagreements with the other directors’ more liberal views about lending had made things untenable for him. His position remained vacant for three months.

When Snyder first approached McCloy for the role in January 1947, he rejected it. But Snyder was adamant. After inviting McCloy to Washington for several meetings and traveling to New York to discuss how to accommodate his stipulations about the job—conditions that included more control over the direction of the World Bank and the right to appoint two of his friends— Snyder agreed to his terms.

Not only did Snyder approve of McCloy’s colleagues, but he also approved McCloy’s condition that World Bank bonds would be sold through Wall Street banks. This seemingly minor acquiescence would forever transform the World Bank into a securities vending machine for private banks that would profit from distributing these bonds globally and augment World Bank loans with their private ones. McCloy had effectively privatized the World Bank. The bankers would decide which bonds they could sell, which meant they would have control over which countries the World Bank would support, and for what amounts.

With that deal made, McCloy officially became president of the World Bank on March 17, 1947. His Wall Street supporters, who wanted the World Bank to lean away from the liberal views of the New Dealers, were a powerful lot. They included Harold Stanley of Morgan Stanley; Baxter Johnson of Chemical Bank; W. Randolph Burgess, vice chairman of National City Bank; and George Whitney, president of J. P. Morgan. McCloy delivered for all of them.

A compelling but overlooked aspect of McCloy’s appointment reflected the postwar elitism of the body itself. The bank’s lending program was based on a supply of funds from the countries enjoying surpluses, particularly those holding dollars. It so happened that “the only countries [with] dollars to spare [were] the United States and Canada.” As a result, all loans made would largely stem from money raised by selling the World Bank’s securities in the United States.

This gave the United States the ultimate power by providing the most initial capital, and thus obtaining control over the future direction of World Bank financial initiatives—all directives for which would, in turn, be predicated on how bankers could distribute the bonds backing those loans to investors. The World Bank would do more to expand US banking globally than any other treaty, agreement, or entity that came before it.

To solidify private banking control, McCloy continued to emphasize that “a large part of the Bank capital be raised by the sale of securities to the investment public.” McCloy’s like-minded colleagues at the World Bank—vice president Robert Garner, vice president of General Foods and former treasurer of Guaranty Trust; and Chase vice president Eugene Black, who replaced the “liberal” US director Emilio Collado—concurred with the plan that would make the World Bank an extension of Wall Street. McCloy stressed Garner and Black’s wide experience in the “distribution of securities.” In other words, they were skilled in the art of the sale, which meant getting private investors to back the whole enterprise.

The World Bank triumvirate was supported by other powerful men as well. After expressing his delight over their appointments to Snyder on March 1, 1947, Nelson Rockefeller offered the three American directors his Georgetown mansion, plus drinks, food, and servants, for a three-month period while they hammered out strategies. No wives were allowed. Neither were the other directors. This was to be an exclusive rendezvous.

It is important to note here that the original plan as agreed upon at Bretton Woods did not include handing the management and organization of the World Bank over to Wall Street. But the new World Bankers seemed almost contemptuous of the more idealistic aspects of the original intent behind Bretton Woods, that quaint old notion of balancing economic benefits across nations for the betterment of the world. Armed with a flourish of media fanfare from the main newspapers, they set about constructing a bond-manufacturing machine.

With the Cold War hanging heavily in the political atmosphere, the World Bank also became a political mechanism to thwart Communism, with funding provided only to non-Communist countries. Politics drove loan decisions: Western allies got the most money and on the best terms.

 

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Sat, 04/12/2014 - 21:11 | 4652739 ebworthen
ebworthen's picture

So the World Bank is a friend to the fascism of the West, and the Brussels Bandits and Wall Street Warlocks busy making serfs out of their populace sounds like.

Bail-in's, loss of property rights and habeus corpus, end of Posse Comitatus, no 4th Amendment, limited 1st and 2nd Amendments, debtor corporate prisons - they make the Communists almost likable.

Sat, 04/12/2014 - 21:30 | 4652799 Ahmeexnal
Ahmeexnal's picture

how about those four being the next on the suicide list?

"only good banker is a cold banker"

Sat, 04/12/2014 - 21:40 | 4652835 Pinto Currency
Pinto Currency's picture

 

McCloy - Chase Manhattan Bank, Rockefeller Foundation, Ford Foundation, Warren Commission

http://en.wikipedia.org/wiki/John_J._McCloy

This guy is classic.

Do a bit of research on what the Reese Committee found in the mid 1950s

Sat, 04/12/2014 - 21:51 | 4652864 old naughty
old naughty's picture

pc,

tks,

but do you not mean Reece Committee?

Sat, 04/12/2014 - 22:05 | 4652897 zerozulu
zerozulu's picture

Max Keiser just mentioned zerohedge in his report on rt.

Sat, 04/12/2014 - 22:20 | 4652926 James_Cole
James_Cole's picture

Nomi Prins ftw

Sun, 04/13/2014 - 00:22 | 4653158 All Risk No Reward
All Risk No Reward's picture

I didn't read Prins's article, but the title is exactly wrong.

All the Bank Owners' President.

The mega Bank Owners are at top of the pyramid, not some promoted community activist schmuck or CIA errand boy.

Dimon, Blankfein, et al. are simply employees, just like the President.

The OWNERS will never tell you this on THEIR PROGRAMMING CHANNELS.  You have to figure this out on your own based on corporate structure, human nature, economics, etc... - and it isn't that difficult to do as long as you aren't mesmerized by Bankster BS.

Isn't this obvious?

If you want to know WHO the most powerful people in a society are, all you need to do is look at WHO controls money (including its definition).

The President does not.

CEOs do not.  They are employees.

Yellen does not.  She's an employee.

Their personal historian put it in print, but very few of you can be bothered to read his book - Tragedy and Hope.

Tragedy and Hope - Full Book

http://real-world-news.org/bk-quigley/00.html

These little tidbits of EARTH SHATTERING INSIGHT are from Chapter 19:
http://real-world-news.org/bk-quigley/07.html#19

In addition to these pragmatic goals, 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. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank, in the hands of men like Montagu Norman of the Bank of England, Benjamin Strong of the New York Federal Reserve Bank, Charles Rist of the Bank of France, and Hjalmar Schacht of the Reichsbank, sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.

"It must not be felt that these heads of the world's chief central banks were themselves substantive powers in world finance. They were not. Rather, they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up and were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers (also called "international" or "merchant" bankers) who remained largely behind the scenes in their own unincorporated private banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks. This dominance of investment bankers was based on their control over the flows of credit and investment funds in their own countries and throughout the world. They could dominate the financial and industrial systems of their own countries by their influence over the flow of current funds through bank loans, the discount rate, and the re-discounting of commercial debts; they could dominate governments by their control over current government loans and the play of the international exchanges. Almost all of this power was exercised by the personal influence and prestige of men who had demonstrated their ability in the past to bring off successful financial coupe, to keep their word, to remain cool in a crisis, and to share their winning opportunities with their associates. In this system the Rothschilds had been preeminent during much of the nineteenth century, but, at the end of that century, they were being replaced by J. P. Morgan whose central office was in New York, although it was always operated as if it were in London (where it had, indeed, originated as George Peabody and Company in 1838)."

http://real-world-news.org/bk-quigley/07.html#19

Quigley even mentions how the Banksters issued themselves DEBT FREE MONEY when they were in a bind, BUT WOULD NEVER DO SO FOR THE MUPPET PUBLIC...

"The outbreak of war on August 4, 1914, found the British banking system insolvent in the sense that its funds, created by the banking system for profit and rented out to the economic system to permit it to operate, could not be covered by the existing volume of gold reserves or by collateral which could be liquidated rapidly. Accordingly, the bankers secretly devised a scheme by which their obligations could be met by fiat money (so-called Treasury Notes), but, as soon as that crisis was over, they then insisted that the government must pay for the war without recourse to fiat money (which was always damned by bankers as immoral), but by taxation and by borrowing at high interest rates from bankers."

New World Bankster Empire plans were exposed as well - remember, Quigley was their inside historian...

"We have already seen that valiant efforts were made in the period 1919-1929 to build up an international political order quite different from that which had existed in the nineteenth century. On the basis of the old order of sovereignty and international law, men attempted, without complete conviction of purpose, to build a new international order of collective security...."

And this little quip...

"The outbreak of war in 1914 showed these (Biggest is implied) financial capitalists at their worst, narrow in outlook, ignorant, and selfish, while proclaiming, as usual, their total devotion to the social good."

Read Animal farm as an allegory of human social structures and pay very special attention to Squealer's role in duping the (politically) dumb animals...  it is a brilliant book when properly understood and, in conjunction with 1984, probably explains better than any disease why he was dead before he turned 48.

Sun, 04/13/2014 - 02:15 | 4653314 palmereldritch
palmereldritch's picture

+1!

And to flesh things out a little further...

You [OP] mean the same IMF and World Bank that, it is argued, are the parent private corporations to the IRS and BATF corporately domiciled in Puerto Rico ?

http://nulldownload.com/doc/pdf/download/famguardian__org--TaxFreedom--E...

http://freedom-school.com/law/irs-exposed.htm

[snip]

The link between IRS and the Bureau of Alcohol, Tobacco and Firearms is significant as the tie with the Bureau of Internal Revenue, Department of the Treasury, Puerto Rico, is through this door. Reorganization Plan No. 3 of 1940 Section 2, made the following change: § 2. Federal Alcohol Administration The Federal Alcohol Administration, the offices of the members thereof, and the office of the Administrator are abolished, and their function shall be administered under the direction and supervision of the Secretary of the Treasury through the Bureau of Internal Revenue in the Department of the Treasury.

Again, the Federal Alcohol Administration Act of 1935 was declared unconstitutional in 1935, and the operation thereafter transferred off shore to Puerto Rico. The name of the Bureau of Internal Revenue was changed to the Internal Revenue Service in 1953 (cite above), then the Bureau of Alcohol, Tobacco and Firearms, a division of the Internal Revenue Service, was seemingly separated from IRS (T.O. 120-01, June 6, 1972)....

IRS is contracted to provide collection services for the Agency for International Development, and case law demonstrates that the true principals of interest are the International Monetary Fund and the World Bank (Bank of the United States v. Planters Bank of Georgia, 6 L.Ed (Wheat) 244; U.S. v. Burr, 309 U.S. 242; see 22 USCA § 286, et. seq.).
In other words, IRS seemingly provides collection services for undisclosed foreign principals rather than collecting internal revenue for the benefit of constitutional United States government operation. To date, IRS principals have failed to dispute the published Cooper/Bentson allegation that the agency, via these foreign principals, funded the enormous tank and military truck factory on the Kama River, Russia. The Internal Revenue Service, a foreign entity with respect to the several States, is not registered to do business in the several States.

Which begs the question...Well who then who controls [owns] the IMF and World Bank ?
http://www.xat.org/xat/worldbank.html

[snip]

WORLD WAR II (1939-1945)

World War II saw the US debt increased by 598%, while Japan's debt went up by 1,348%, with France up by 583% and Canada up by 417%.

When you hear this, what is your first impression? Do you automatically think this is bad or this is good? Most of us feel a well programmed sense of desperation when we hear figures like this, but remember, to the money changers, this is music to their ears.

With the hot war over, the cold war began, the arms race causing more and more borrowing. Now the money changers could really concentrate on global domination.

Step one, the European Monetary Union and NAFTA.

Step two, centralise the global economy via the World Bank, the IMF and GATT (now the WTO).

THE WORLD CENTRAL BANK (1948 - Present)

In Washington, the headquarters of both the World Bank and the IMF (International Monetary Fund) face each other on the same street. What are these organisations, and who controls them?

To find out we need to look back to just after WWI. At this point the money changers were attempting to consolidate the central banks under the guise of peacemaking. To stop future wars they put forward the formation of a world central bank named the Bank of International Settlements, a world court called the World Court in the Hague, and a world executive for legislation called the League of Nations.

In his 1966 book entitled Tragedy and Hope, president Clinton's mentor Carroll Quigley writes about this.

"The powers of financial capitalism had [a] far-reaching [plan], 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.

This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.

The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations.

Each central bank... Sought to dominate its government by its ability to control treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
Carroll Quigley, Professor, Georgetown University

They got 2 out of 3. The league of nations failed largely owing to the suspicions of the people and while opposition concentrated on this, the other two proposals snuck their way through.

It would take another war to wear the public resistance down. Wall street invested heavily to rebuild Germany, as the Chase bank had propped up the Russian revolution.

Now the Chase merged with the Warburg's Manhattan Bank to form the Chase Manhattan which would later merge with the Chemical Bank to become the largest bank on Wall Street.

In 1944 the US approved its full participation in the IMF and the World Bank. By 1945 the second League of Nations was approved under the new name 'The United Nations'. The war had dissolved all opposition. The methods used in the National Banking Act of 1864 and the Federal Reserve Act of 1913 were now simply used on a Global scale.

The Federal Reserve Act allowing the creation of Federal Reserve notes is mirrored by the IMF's authority to produce money called Special Drawing Rights (SDR's). It is estimated the IMF has produced $30 billion dollars worth of SDR's so far. In the United States SDR's are already accepted as legal money, and all other member nations are being pressured to follow suit. With SDR's being partially backed by gold, a world gold standard is sneaking its way in through the back door, which comes with no objection from the money changers who now hold two-thirds of the worlds gold and can use this to structure the worlds economy to their further advantage.

We have gone from the goldsmith's fraud being reproduced on a national scale through the Bank of England and the Federal Reserve, to a Global level with the IMF and the World Bank. Unless we together stop giving these exchange units their power by our collective faith in them, the future will probably see the Intergalactic Bank and the Federation of Planets Reserve set up in much the same way.

This radical transfer of power has taken place with absolutely no mandate from the people.

Sun, 04/13/2014 - 06:59 | 4653497 negative rates
negative rates's picture

Do you like reruns?

Sun, 04/13/2014 - 10:52 | 4653885 Pinto Currency
Pinto Currency's picture

 

Old Naughty - you are right.  It was the Reece Committee not the Reese Committee.  My typo.

A good summary you posted:

http://www.oldthinkernews.com/2008/07/the-reece-committee-social-science-as-a-tool-for-control/

"...The Reece Committee was smeared by the media and by John D. Rockefeller the 3rd himself as being wholly inaccurate, but historical hindsight gives us a perspective that shows what the Committee found is far closer to the truth than Rockefeller would have you believe.

A predominant theme found in the Committee’s findings is the desire of the foundations and those behind them to create a system of world governance. The use of propaganda and social engineering was identified as a means to and end to achieve this goal. In 1932, the president of the Rockefeller Foundation, Max Mason, stated that “The social sciences… will concern themselves with the rationalization of social control…”

The Committee cited a report from the President’s Commission on Higher Education, published in 1947, which outlines the goals of social engineering programs; The realization on part of the people of the necessity of world government “…psychologically, socially and… politically”. The cited report states, ..."

Sun, 04/13/2014 - 08:07 | 4653540 Badabing
Badabing's picture

All The Presidents' Bankers

 All The  Bankers' Presidents

 

 

fixed it

 

 

 

 

Sun, 04/13/2014 - 09:22 | 4653668 new game
new game's picture

in the end as it goes:ink dries up steel works. take your fountain pen and draw that fucker out and see if my glock or colt is out of ink... as long as mankind follows these "rules" it works. eventually the inequity of these inked rules bears the majority with no property, then that ink means nothing...tic toc

edit-harry r dem nv lives by inked rule and power another day, as long as he can maintain that inked power we give him.

he had a close call with steel and chose wisely to maintain his inked power...

soon an inked power elite will not back down-i will side with steel.
ready to roll, unemployeed and looking for a little excitment, coming to a state near you.

saddle up and ready your skills, last vestage of hope avail to me and only me.

last stand of personnel property is the only battle for liberty left. 

Sun, 04/13/2014 - 09:49 | 4653747 Manthong
Manthong's picture

cool.. now I got me a new graphic for the range…

I am just having a hard time figuring out the best place for the 10 ring.

Sun, 04/13/2014 - 04:58 | 4653417 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

thanks for recommending tragedy and hope. i have been looking for such a book for a long time.

Sun, 04/13/2014 - 10:08 | 4653784 falak pema
falak pema's picture

All these wheels within wheels of power, churning, making it so difficult to ascertain who is PRIME criminal...

Its a bit like reading an Agatha Christie novel; where you find out the culprit in Hercule Poirot's denouement of Crime Diabolique or Crime Passionnel...

It makes me laugh. You guys have the skills of conspiracy novelists, Kafka comes to mind. 

Can't help thinking that when things had CLARITY it was easy to tell who the culprit was : Caesar, Napoleon, Hitler ...we knew who Mr Evil was, as he trumpeted his intentions for all to hear.

Now in US democracy (or demoncracy), behind Machiavellian masks, its a WHODUNNIT that is a never ending dance macabre of vampires who pretend they be fearless vampire killers!  

Ironic that it should be so since the McCarthy commission, and then the even greater Warren Commission, started the whodunnit show at the top of the heap, in the land of the free and so transparent! 

Sounds like a ghoulish farce signed Roman Polanski. 

Sat, 04/12/2014 - 22:50 | 4653012 nmewn
nmewn's picture

"...and Harry Dexter White..."

Been ranting & raving about this for years, mostly falling on deaf ears.

Now, I'll rant again.

So, lets just go ahead and get this over with...Alger Hiss was, in fact, a Soviet spy as well as White, as discovered through the Venova Papers, not to go all "right wing" on this but your country, dear Americans, is infested with people at the top "with ideas" that have nothing to do with YOUR liberty or freedom or virtues or sense of live & let live. or even right & wrong as to YOU deciding what is best for you.

It involves eugenics (at its very core level) and their pensions & salaries for them (of course) the very top, otherwise we would not even be discussing topics like sugar in Big Gulps while they eat caviar & dine on shrimp cocktail, would we? We wouldn't be trying to decipher the logic of "leaders" flying half way around the world for a exotic vacation, only to return home and pronounce those who do just that, are evil polluters and a threat to the human race, now would we?

Face it kids, the top of this apple is rotting down to the core.

Sun, 04/13/2014 - 00:05 | 4653150 knukles
knukles's picture

It has been proven and documented in both US as well as Russian archives (stuff found after the fall of the Berlin Wall when "somebodies" let some "cats out of the bags" (Or Boxes for you Schrodinger minded folk!) that good olde Harry White was an Active Red Communist Russian Intelligence Agent.
Fuckin-A dudes and dudettes, some of the folks being investigated by Joe McCarthy were indeed as accused.  Many others, not; but as the pages of history turn, some shit smacks home and this.... just how deep those in senior positions of power at the Highest Levels Have Been and Are Now Foreign Agents Attempting to Destroy Personal Liberty and Freedom in the Name of a NWO.

AJ was been right about almost everything.

Including Harry Reid, today.

Sun, 04/13/2014 - 00:22 | 4653183 DoChenRollingBearing
DoChenRollingBearing's picture

^^^

Two grown men are back in town.

Sun, 04/13/2014 - 04:18 | 4653384 CultiVader
CultiVader's picture

I've read speculation about White's espionage activity but have yet to see proof. Could you please provide a link knuckles? I believe he was passing the butter to Boris as well but just need a little physical evidence or respected corroboration to settle my stomach.

Sun, 04/13/2014 - 12:02 | 4654072 sleigher
sleigher's picture

Agreed knuckles, but AJ, for as much as he has been right, is controlled opposition.  There are many topics that are verboten with him.  I have heard the callers to his show be shouted over and then disregarded and hung up on.  I, myself, have had many IP addresses banned from his site for speaking of such truths that he is not allowed to speak of.  Yes, he is right that the NWO is coming, foreign agents and all of it.  As soon as you speak of these topics that he is not allowed to speak of, he will scream in a tirade or just sensor you from his "tip of the spear" site.

He is right about Harry Reid.  He broke that story.  

Sun, 04/13/2014 - 10:14 | 4653771 Manthong
Manthong's picture

..Yeah.. the eugenics thing.. thank you Maggie Sanger.

But few folks have even a clue when and how the 2nd big scam happened (after the 1913 travesty).

“ FDR's solution was to convert the income tax from a class tax to a mass tax. Before World War II, fewer than 5 percent of Americans paid income taxes. "Too many people," Roosevelt lamented, "are earning money and not contributing to the government." 

The “progressives” and their allies, the bankers, had to subdue the American people before they could subdue the rest of the world. both militarily and financially.

BTW.. they are having fabulous success mopping up now by destroying the few remnants of morality and ethics left in the culture.

We are not exceptional..  anymore.


Today, the slave-masters control the slaves through retention taxes (withholding).

Money in a wage slave society = freedom     How much freedom do you have left?

Sun, 04/13/2014 - 11:47 | 4654032 nmewn
nmewn's picture

(Eugenics) Sanger & Keynes both.

Its amazing how many useful idiots can still be found after all this time, even with all the information out there. 

The very descendants of the people responsible for the mess, proposing solutions to the mess...lol...pretentious dweebs. It would seem to me, any honest person, would be embarrassed by what they had a hand in doing across the globe but I guess they just prefer to not talk about it or when cornered on it exclaim "But our intentions were good!"

No, the intention was social engineering, genocide and sterilization.

On the social engineering side, they introduced the wonders of "democracy" into this republic to supplant the Rule of Law (Wilson I believe, was the first President to say "democracy" when describing this nation). Coinciding with this, came the public education system based on the Prussian model, where students were taught to be "good worker bees" and unquestiongly loyal to the state.

A state soon to be run by technocrats who haven't the foggiest idea of what they're doing, outside of enriching themselves at our expense and trying at every corner to limit our liberty as it threatens their existence.

And so it goes my friend.

Sun, 04/13/2014 - 00:34 | 4653206 RichardParker
RichardParker's picture

old naughty, +1

"It is this task in particular that challenges our scholars and teachers to lead the way toward a new way of thinking"

Bessie R. Burchett wrote about this similiarily in "Education for Destruction" back in 1941.

 

 

Sun, 04/13/2014 - 03:28 | 4653359 old naughty
old naughty's picture

RP,

it is in education for our young that's the 'forward guidance' in social engineering of us here.

Destruction of the nex-n-nexnex-gen so as to secure slavery.

 

Sun, 04/13/2014 - 10:26 | 4653843 Manthong
Manthong's picture

"The Forgotten Man" does a nice job of detailing important aspects of the destruction of the American education system.

It's amazing to think about how collectivized we have become as the Communists discover de-centralization.

Sun, 04/13/2014 - 10:38 | 4653870 Manthong
Manthong's picture

cool.. it’s a public domain pdf..     Education For Destruction

ha ha ha… the first two paragraphs of the Foreword alone were worth the download…  

Joe McCarthy was NOT WRONG.. Sometimes it just takes a lot of time for shit to happen.

Sun, 04/13/2014 - 16:03 | 4654699 sgt_doom
sgt_doom's picture

Yup, and McCloy was an attorney for I.G. Farben in pre-WWII, Nazi Germany, and would later, at the Nuremberg Trials after WWII, pardon some seriously heinous monsters who did human experimentation, who had worked at I.G. Farben.

And, naturally enough, from their lifelong tax returns we know that the Rockefeller family owned McCloy and Dulles, or in other words, the Warren Commission.

Ms. Prins book looks brilliant indeed!

Sun, 04/13/2014 - 03:30 | 4652849 old naughty
old naughty's picture

Did i not see them in the same post days ago?

Grown weary holding them right hands up yet?

Sat, 04/12/2014 - 22:23 | 4652936 Mr Pink
Sun, 04/13/2014 - 07:00 | 4653498 negative rates
negative rates's picture

Only a good state is not a cold state.

Sat, 04/12/2014 - 21:39 | 4652832 Pinto Currency
Pinto Currency's picture

 

 

Sun, 04/13/2014 - 08:04 | 4653537 Jannn
Sun, 04/13/2014 - 16:19 | 4654755 sgt_doom
sgt_doom's picture

And from the world of high finance:

http://gawker.com/the-astounding-conspiracy-theories-of-wall-street-geniu-1561427624

(Interestingly, his overall synopsis is correct, just a bit hazy on some details:  the photos taken of the three males from the grassy knoll were later identified as a hit man from the French mob, most likely imported from ties to Lucien Conein (CIA), while the other two males were Operation40, which had officially been disbanded by the Kennedy brothers [a rogue CIA assassin outfit directed at South America].)

 

Sat, 04/12/2014 - 21:11 | 4652743 Goldilocks
Goldilocks's picture

"... to thwart Communism, ..."

Sat, 04/12/2014 - 22:04 | 4652892 ILLILLILLI
ILLILLILLI's picture

Harry Dexter White (October 9, 1892 – August 16, 1948) was an American economist, senior U.S. Treasury department official, and an active agent of Soviet espionage.

Sat, 04/12/2014 - 22:48 | 4653009 Goldilocks
Sat, 04/12/2014 - 23:10 | 4653060 Goldilocks
Goldilocks's picture

"The enemy is within the gates; it is with our own luxury, our own folly, our own criminality that we have to contend." - Marcus Tullius Cicero

Sun, 04/13/2014 - 09:32 | 4653405 falak pema
falak pema's picture

When he said : "A nation can survive its fools, even the ambitious. But it cannot survive treason from within..." Cicero obviously had ONE man in his sights :

The Nemesis of Republican Rome : Julius Caesar.

And he was proven right. 

But....the dialectics of that debate, in the MINDSET (ethos)  of those times, was as follows :

Cicero : I believe in the Republic although I do admit its gone corrupt. I prefer Reform to Revolution (via civil war) and your Dictatorship, Caesar! 

Caesar : We live in such troubled times. And time waits for no man. I've shown that in my victories in Gaul. We have to cut out the rot at any cost. It takes a strong man to run an Empire and fulfill the destiny that God (Zeus) confers on us Romans, as givers of CIVILIZATION to the Barbarians. 

That has been the song of all hegemonists from Alexander, to Caesar, to Charles V, to Napoleon to GWB and the US Empire of today! 

It always ends badly as History has proven. (And btw, "demonising" the enemy; -- infidel, heretic, commie, terrorist-- has always corrupted the mindset further into intolerant contempt and led to greater disaster).

Hegemonical mindset is the poisonous seed in Man that feeds Hubris and leads to downfall of the eternal House of Atreus. (All power corrupts and absolute power...)

The house of Oligarchs! 

What History teaches us is that no Man can IMPOSE his values on all others. It has to be a recurrent process of debate of top-down/bottom-up dialogue and that is a search that each generation must undertake within the boundaries of its own social network; keeping in mind that if you want Peace you HAVE to be prepared for war with OTHER social networks you cannot conquer, as when Hubris always takes you "a bridge too far", complacency at home can leave you without defenses.

Freedom stays an erstwhile bitch just like democracy.  

And the eternal debate between Orient (collectivist, unitarian mindset) and Occident (free will of individual mindset) stays the recurrent battle of Troy. 

In the context of this current post, the FDR legacy, as incarnated on the financial/monetary thread by the dialectics of the Keynes/White debate--presented here-- forging the BW construct and compromise, represented FDR's VISION to resolve ONCE and FOR ALL this eternal East/West global debate and bring peace to TROY.

I think in the wake of WW1 and WW2, as de facto hegemon, he really meant to create a "benevolent" hegemony... (if such a thing could ever exist in the real world, like Plato's Philosopher king!)

Of course, as soon as he died the Cold War resuscitated the Trojan War meme, with Stalin playing the unitarian Oriental despot under the Communist flag and Truman/WS (and their Dulles Bros. successors) playing the role of Greek "freedom" lovers from the House of Atreus.

Some leopards will never change their spots; whatever Eleanor Roosevelt may have dreamt of, when she came to Paris to have the Universal Rights of Man poured into concrete. 

Some idealistic pipe dream that, as the sons of Atreus sing today from their Caymanista coves  : We want it all and we want it now! 

Sat, 04/12/2014 - 23:02 | 4653041 disabledvet
disabledvet's picture

Totally log-rolled Keynes and Great Britain.

The Pound wasn't totally destroyed but there was very little left of it by the time Bretton Woods was "agreed" upon.

The World Bank was also known as the Rothchild's Bank btw. "That was the end of the Dynasty" for all intents and purposes. Throw in "you get Israel" and you have the makings of profoundly power "personal ATM."

Great article. In many ways however the "system" has not survived 1973.

Sat, 04/12/2014 - 21:18 | 4652763 yogibear
yogibear's picture

LOL, looks like their printing is becoming less effective daily.

All those PIIGS haven't been fixed and there are bubbles all over. 

Now what?

Sat, 04/12/2014 - 21:19 | 4652766 shutdown
shutdown's picture

Oh, man! It's Saturday evening for crying out loud. I'm not reading all those words. 

Sat, 04/12/2014 - 22:41 | 4652794 813kml
813kml's picture

I know, right?  I skimmed at best.  I think it was a love story about a boy and his dog that could shit imaginary money.

Sun, 04/13/2014 - 00:10 | 4653165 knukles
knukles's picture

A Goldmansachs Retriever?

Sun, 04/13/2014 - 00:19 | 4653177 shutdown
shutdown's picture

Could be. But I'll never know.

The comments are particularly idiotic tonight, attracting drunks, odd ducks and apparently those occupying the extreme left tail of the cognitive bell curve. The essay's probably not all that important anyhow. 

Sun, 04/13/2014 - 05:37 | 4653451 BTFDemocracy
BTFDemocracy's picture

I read every word. Pretty good read.

Sat, 04/12/2014 - 21:21 | 4652768 buzzsaw99
buzzsaw99's picture

dimon has hands like a little girl

Sat, 04/12/2014 - 21:36 | 4652822 813kml
813kml's picture

I bet they're all hard and calloused from a lifetime of menial labor.

Sat, 04/12/2014 - 21:22 | 4652771 yogibear
yogibear's picture

They want your retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it. They’ll get it all from you sooner or later cause they own this fucking place! It's a big club, and you ain’t in it!  You, and I, are not in the big club. - George Carlin 

Sat, 04/12/2014 - 21:22 | 4652773 Reaper
Reaper's picture

The politicians empowered the bankers. What the politicians gave can be taken away. He who controls the guns has the power. The money or your life works on a large scale as well as between individuals.

Sat, 04/12/2014 - 21:27 | 4652786 813kml
813kml's picture

And everyone lived happily ever after.

The End

Sat, 04/12/2014 - 21:37 | 4652827 q99x2
q99x2's picture

 the World Bank also became a political mechanism to thwart Communism (and Capitalism)

Sat, 04/12/2014 - 21:40 | 4652837 BrigstockBoy
BrigstockBoy's picture

John Maynard Keynes = Beelzebub

Sat, 04/12/2014 - 21:45 | 4652850 therevolutionwas
therevolutionwas's picture

rEVOLution!!!!!!

Sat, 04/12/2014 - 22:08 | 4652885 LetThemEatRand
LetThemEatRand's picture

For the Ayn Rand crowd amongst us, this was her vision.  Her world.  What you see today is the result.  Her co-author Greenspan did not become head of the Fed by accident.  And he did not abandon her principles, or his.  He embraced them.  Notice the shriking middle class and the growing .01 percent.  These heartless, soul-less sociopaths sit in boardrooms today, deciding what to do to us next, while reading from the book of Rand and reminding themselves that morality and justice are for chumps.  Think Rand would not have a K-9 unit or a taser in her desired private army?  A private army is what you saw in Nevada this week.  Funded by worthless leeches, run by corporations.

Sat, 04/12/2014 - 22:09 | 4652904 Ahmeexnal
Ahmeexnal's picture

Ayn Rand did not envision this socialist/fascist global oligarchy, you moron.
Why don't you try your shit on facebook and dweeber, I'm sure the braindead crowd there would applaud your nonsense.

Sat, 04/12/2014 - 22:14 | 4652906 LetThemEatRand
LetThemEatRand's picture

She envisioned a world run by bankers and oligarchs with no sense of justice or morality.  That's what we've got.  You moron.  But keep reading her fiction and ignoring the reality of her co-author who ran the Fed for almost a generation.  Don't worry about what they do, just pay attention to what they say.  Which company did she run again?

Sat, 04/12/2014 - 22:14 | 4652913 Ahmeexnal
Ahmeexnal's picture

You have evidently not read the same Rand. She envisioned GOLD (and silver) as the only asset in the banks (Midas Mulligans). Do we have that now? She envisioned people with HIGH MORALE AND JUSTICE, the creators, working unhindered by the CORRUPT AMORAL STATE.

Stupid collectivists like keep distorting reality with the false hope that you can FOOL EVERYONE. But you can only fool the sheeple.

Please abstain from responding, I have no further issues to discuss with a collectivist parasite.

Sat, 04/12/2014 - 22:18 | 4652915 LetThemEatRand
LetThemEatRand's picture

Greenspan co-wrote with her.  She decried the State in favor of private corporations, which is what we have.  Do you think elections mean somethinng, or will you acknowledge that both parties are bought and paid for by your "productive class?'  Actions or words, my mindless friend?  Fact, or fiction?  

Sat, 04/12/2014 - 22:19 | 4652921 Ahmeexnal
Ahmeexnal's picture

WHO THE HELL GIVES A RAT'S ASS ABOUT GREENSPAN, YOU MORON?
HE SOLD OUT, LIKE MANY DO. EVERYONE KNOWS IT. HE SOLD OUT AND HE WILL HAVE TO BE HELD ACCOUNTABLE LIKE THE REST.
I DO NOT VOTE YOU F***TARD!

GROW A PAIR AND GET A LIFE.

Sat, 04/12/2014 - 22:21 | 4652927 LetThemEatRand
LetThemEatRand's picture

Your capital letter key is stuck, douchebag.  I must have hit a chord.  Greenspan co-wrote with her, cultist.   Or perhaps you can respond by showing me what Rand did in real life other than write fiction novels.  Greenspan is Rand.  Rand is Greenspan.  Deal with it and stop drinking the Randaid.

Sat, 04/12/2014 - 22:26 | 4652943 Ahmeexnal
Ahmeexnal's picture

WHAT WE HAVE NOW IS SOCIALISM/FASCISM (PROGRESSING TOWARDS NEOFEUDALISM) YOU IGNORANT TROLL, IT IS NOT CAPITALISM.
BUT THE MSM AND ITS TROLLS ARE PREPARING THE SHEEPLE TO BLAME CAPITALISM FOR THE COMING COLLAPSE.

PEOPLE LIKE YOU WILL BE USED BY THE STATE DURING A POST-COLLAPSE PHASE, BUT WHEN THEY ARE DONE YOU WILL BE LIKE EVERYONE ELSE....EXPENDABLE.
HISTORY REPEATING....AND YOU NEVER LEARN.

YOUR GOD WELFARE STATE WILL OFFER YOU AS YET ANOTHER SACRIFICE TO THE BANKERS.

YOU HIT NO CHORDS, BUT I EVIDENTLY HIT YOURS MR. FIRST CLASS COLLECTIVIST -EVERYONE IS EQUAL, BUT SOME ARE MORE EQUAL THAN OTHERS (OR LIKE HUGH HENDRY CALLS THEM, CAVIAR SOCIALISTS).

Sat, 04/12/2014 - 22:32 | 4652952 LetThemEatRand
LetThemEatRand's picture

You can fix that by hitting caplock on your keyboard.  And thinking for yourself, and watching the actions of Rand's co-author instead of relying on her fiction novels.  But it's so much easier to read Atlas Shrugged and think of yourself as being in the boardroom with Jamie.  I get it.  What company do you captain, Rand-lover?

Sat, 04/12/2014 - 22:43 | 4652996 Ahmeexnal
Ahmeexnal's picture

I'M STARTING A 'HUNTING' COMPANY WHEN TSHTF.
YOU'RE SURE GOING TO LOOK PRETTY STUPID....

....WHAT'S THE MATTER, HAVING TROUBLE ENROLLING AT THE OBOZOCARE WEBSITE?

Sat, 04/12/2014 - 22:57 | 4653002 LetThemEatRand
LetThemEatRand's picture

I'm pretty sure that in addition to the caplocks problem, you are also drooling.  Good luck with your new company.  As a Randite, I would have hoped you would have a factory in China by now, but instead you are talking about a hunting company you hope to create one day.  Typical.  You have no idea how loathed you are by the people you defend and support, because you are a complete and utter douchebag.  And ironically, you support the very thing you believe you are against, because you are too small-minded to understand it.  When Ted Cruz texts his Goldman Sachs wife tonight before fucking his intern, he should thank you.  But he won't, because you are nothing but a tool to him.  A well used one at that.

Sat, 04/12/2014 - 23:01 | 4653034 Ahmeexnal
Ahmeexnal's picture

I COULD GIVE A RAT'S ASS ABOUT WHAT YOU THINK/SAY. I GIVE A RAT'S ASS ABOUT TED CRUZ AND YOUR TELEPROMPTER IN CHIEF. KEEP DREAMING ABOUT YOUR BENEVOLENT WELFARE STATE FOR IT IS ONLY A DREAM, THE REALITY BEING A FASCIST SOCIALIST POLICE STATE.

YOU EVIDENTLY COULD NOT GRASP MY 'HUNTING' COMPANY THING. COLLECTIVIST PUSHING MORON, YOU ARE THE LOWEST SERF IN THE BANKER GLOBAL OPRESSIVE REGIME. YOU BELIEVE THE CRAP THEY FEED YOU, BUT THEY LAUGH THEIR ASSES OFF AND SEND YOU TO DIE.

GOOD LUCK WORKING FOR SOROS AND HIS "OPEN SOCIETY".

Sat, 04/12/2014 - 23:12 | 4653046 LetThemEatRand
LetThemEatRand's picture

You've been here quite a few years.  How's the hunting company going?  Still a twinkle?   Take responsibility for your own failure.  Or is taking responsibility for the other guy, while you read fiction novels?

Sun, 04/13/2014 - 10:41 | 4653878 Pinto Currency
Pinto Currency's picture

 

Ayn Rand was against fiat money. 

The only way this rigged and controlled world controlled by central planning and a banking elite is possible is with fiat money.

This is not Ayn Rand's utopia.

Sat, 04/12/2014 - 23:11 | 4653063 disabledvet
disabledvet's picture

"Well I laid my head on the railroad tracks, waiting for the Double D.

Sat, 04/12/2014 - 22:51 | 4653018 Fred Hayek
Fred Hayek's picture

You exhibit all the understanding of Ayn Rand that I would expect if Nancy Grace or Oprah decided to do a show on her. No one's saying that you have to agree with Rand, but jesus, if you're going to make her this fixation of yours then at least hate intelligently. Don't hate so stupidly that a child could show you the mistakes in your comments in five seconds. Blaming Greenspan's subsequent career on Rand when all of it was in contradiction to what she wrote and said is asinine. Saying that this economy is what she wanted is asinine. All over the internet you read other people saying that Atlas is shrugging or things to that effect. They see this economy as like the collapsing economy of that book. You're the first person anywhere that I've seen who thinks that this is something she would have wanted. The facts don't support your belief.

If you want to hate, go ahead and knock yourself out. Hate. But don't hate stupidly. It's so much less interesting for everyone around you.

Sat, 04/12/2014 - 22:55 | 4653025 LetThemEatRand
LetThemEatRand's picture

Yes, Greenspan was just an anomoly.  Ideology dies hard.  Personally, I structure my polictical beliefs around the Die Hard franchise.  The movie version of that fiction is better directed and produced than Atlas Shrugged, and Bruce Willis can take a beating and keep on on keeping on.  Rememeber the scene where he had glass in his feet but still got up and kicked ass and didn't run a central bank?

Sat, 04/12/2014 - 23:01 | 4653039 nmewn
nmewn's picture

Its always self evident that socialists can't control themselves when they have other peoples money in their hands, isn't it?

Sat, 04/12/2014 - 23:05 | 4653051 LetThemEatRand
LetThemEatRand's picture

Thatcher was a facsist, taking other people's money for bankers.  Funny you would use that expression.

Sat, 04/12/2014 - 23:26 | 4653091 RichardParker
RichardParker's picture

"I structure my polictical beliefs around the Die Hard franchise..." 

Oh puhlease...  How can you possibly take Die Hard seroiusly after they came out with Die Hard, The Braodway Musical and Die Hard On Ice?

Sat, 04/12/2014 - 23:42 | 4653118 LetThemEatRand
LetThemEatRand's picture

Die Hard on Ice is not true to the franchise.  It was a sell-out.  The Broadway Musical was just a poor attempt to put the philosophy to music, but it meant well.  

Sun, 04/13/2014 - 14:03 | 4654373 shovelhead
shovelhead's picture

I hate Ayn Rand, yes it's true

Because Huff Po told me to.

I have never read her books

I just don't like her dirty looks

 

Nursery Rhymes for the Welfare State.

Sun, 04/13/2014 - 08:21 | 4653556 eddiebe
eddiebe's picture

You too!

Mon, 04/14/2014 - 06:40 | 4656153 kurt
kurt's picture

I think he's randy.

Sun, 04/13/2014 - 05:55 | 4653454 trader1
trader1's picture

you honestly believe that you have socialism in the united states?

if you want "socialism", you have to look to the standard-bearer of today: northern/western europe.  besides, america doesn't have universal health care, which is a fundamental characteristic of any country with a strain of socialism. don't confuse the scraps from the table thrown to the masses in form of welfare/entitlement spending as a socialist virtue.  that is more to keep the unwashed masses in subordination to the establishment.  

i can understand the "fascist" argument, but the us has always had (neo)feudalism since 1787:

exhibit a:

http://www.cambridge.org/us/academic/subjects/politics-international-rel...

exhibit b:

https://en.wikipedia.org/wiki/Three-Fifths_Compromise

exhibit c:

https://en.wikipedia.org/wiki/Women's_suffrage_in_the_United_States

exhibit d: 

https://en.wikipedia.org/wiki/Japanese_American_internment

 

let's understand how the original fascist opposition viewed the subject:

Comrades, fascism in power was correctly described by the Thirteenth Plenum of the Executive Committee of the Communist International as the open terrorist dictatorship of the most reactionary, most chauvinistic and most imperialist elements of finance capital.

The most reactionary variety of fascism is the German type of fascism. It has the effrontery to call itself National Socialism, though it has nothing in common with socialism. German fascism is not only bourgeois nationalism, it is fiendish chauvinism. It is a government system of political gangsterism, a system of provocation and torture practised upon the working class and the revolutionary elements of the peasantry, the petty bourgeoisie and the intelligentsia. It is medieval barbarity and bestiality, it is unbridled aggression in relation to other nations.

German fascism is acting as the spearhead of international counter-revolution, as the chief instigator of imperialist war, as the initiator of a crusade against the Soviet Union, the great fatherland of the working people of the whole world.

Fascism is not a form of state power "standing above both classes -- the proletariat and the bourgeoisie," as Otto Bauer, for instance, has asserted. It is not "the revolt of the petty bourgeoisie which has captured the machinery of the state," as the British Socialist Brailsford declares. No, fascism is not a power standing above class, nor government of the petty bourgeoisie or the lumpen-proletariatover finance capital. Fascism is the power of finance capital itself. It is the organization of terrorist vengeance against the working class and the revolutionary section of the peasantry and intelligentsia. In foreign policy, fascism is jingoism in its most brutal form, fomenting bestial hatred of other nations.

This, the true character of fascism, must be particularly stressed because in a number of countries, under cover of social demagogy, fascism has managed to gain the following of the mass of the petty bourgeoisie that has been dislocated by the crisis, and even of certain sections of the most backward strata of the proletariat. These would never have supported fascism if they had understood its real character and its true nature.

http://www.marxists.org/reference/archive/dimitrov/works/1935/08_02.htm#...

Sun, 04/13/2014 - 08:02 | 4653532 Comte d'herblay
Comte d'herblay's picture

Pure socialism?  No, you're right in theory,  the U.S. (nor does Europe, Asia, or Africa) does not have it.

What there is, is (with apologies to wiliam fefferson clinton) a hybrid system, clearly spelled out in the 2008-9  Hank Paulson's orders from the Jewish Mafia, to carry out a Trillion dollar bailout of Failed bankers, and continues under the current regime. 

What that one move did was tell us that we have is a system that PRIVATIZES all the profits (and allows unfettered use of them) and then when those same men and women, nearly all of whom are Jewish, create losses by their mistakes, boneheaded moves, and intentional fraud, those same men and women's losses are then "SOCIALIZED", or "COMMUNIZED", that is, spread among those who actually pay taxes, and if that's not enough to absorb all the losses---which it can't be because Derivatives at 3 to a 1000X underlying value are not factored in) then the Jews at the FED (Greenspan, Bernanke, Yellen) and Treasury (Geithner, and Lew) print up in "whatever billions" per month.

IT's worse than Socialism which at least attempts to make the world grey,  

Sun, 04/13/2014 - 10:36 | 4653865 falak pema
falak pema's picture

Congrats on your promotion. Always knew your avatar as Chevalier, never realised you had been raised to Counthood! 

Sun, 04/13/2014 - 11:22 | 4653976 Comte d'herblay
Comte d'herblay's picture

'History rarely repeats, it only rhymes.'

 

Dartgnan was always underrated in the book and literature.  Thought I'd give him a boost. 

Sun, 04/13/2014 - 08:21 | 4653553 eddiebe
eddiebe's picture

Hey, will you two please get a room?

Sat, 04/12/2014 - 22:32 | 4652961 kito
kito's picture

LTER Ive always had a tough time deciding if you were a guy or a chic. Can you shed some light for us?

Sat, 04/12/2014 - 22:33 | 4652963 LetThemEatRand
LetThemEatRand's picture

My real name is Pat.  Hope that helps.

Sat, 04/12/2014 - 23:02 | 4653042 nmewn
nmewn's picture

Patrick or Patricia?

Sat, 04/12/2014 - 23:51 | 4653134 Anusocracy
Anusocracy's picture

Pat?

Pat McCracken?

Sun, 04/13/2014 - 07:44 | 4653518 falak pema
falak pema's picture

He or she does croon like Pat Boone.

Keep hitting it to them LTER.

Sun, 04/13/2014 - 00:57 | 4653232 A Dollar Short
A Dollar Short's picture

No, as in Pat-hetic.

Sat, 04/12/2014 - 23:04 | 4653047 kito
kito's picture

i knew it!!!!

Sat, 04/12/2014 - 23:08 | 4653056 LetThemEatRand
LetThemEatRand's picture

Nobody puts baby in a corner.  

Sun, 04/13/2014 - 02:52 | 4653338 groundedkiwi
groundedkiwi's picture

lol Patricia or Patrick ?

Sun, 04/13/2014 - 05:12 | 4653422 Offthebeach
Offthebeach's picture

I read Greenspans autobiography. I was shocked by how dumb the man was. He basically was a steady clerk. He contantly addmitted he was confused and surprised. Very intelecually lazy. Somewhat of a jewish Obama, a Zelig of his times. If I had to use a phrase for his thinking, I'd say conventual. A non obsevant in a gray flannel suit. Greenspan never, ever, not once wrote anything wrorth reading. He is and was a vacuous careerist. What ever Rands faults, Greenspan had nothing to do with her or any other ideas . Hes a mild, cloying brown nosing drifter of his times, and you are totally wrong about him . He was and is, banal..

Sun, 04/13/2014 - 08:58 | 4653628 putaipan
putaipan's picture

very close to the reasons dr. michael hudson gives for having fired his ass early in both of their carreers.

Sun, 04/13/2014 - 10:13 | 4653814 GoldenTool
GoldenTool's picture

Read his thesis on gold.

He sat down and ate the steak.  It happens and can you blame him.  He could have been living in a cardboard box fighting the system.  He took the offer.

 

 

 

 

Sun, 04/13/2014 - 16:24 | 4654777 sgt_doom
sgt_doom's picture

Greenspan, formerly fired by Michael Hudson at Chase for incompency, then Greenspan would easily be hired by Brown Brothers Harriman, Amerika's oldest private wealth bank, never sold out, he consistently was their lackey.

Ahmeexnal does too many drugs. . . .

Mon, 04/14/2014 - 06:36 | 4656151 kurt
kurt's picture

Come on man. Isn't there some automatic market mechanism golden invisible hand that makes people you don't like go away?

Sat, 04/12/2014 - 23:07 | 4653054 BrigstockBoy
BrigstockBoy's picture

I don't know anything he co-wrote with her but an article he wrote in 1966, Gold and Economic Freedom, was reprinted in Rand's Capitalism: The Unknown Ideal. It makes for an interesting read if you haven't seen it before. Clearly the man sold his soul in later years.

Sat, 04/12/2014 - 23:22 | 4653084 Fred Hayek
Fred Hayek's picture

Exactly.
The guy knew what was true but came to a career crossroads where the only way he was going to get ahead was by doing and abetting shit that he knew was reprehensible. But he still did it.

To try to blame Greenspan's subsequent career on Ayn Rand would be like blaming all of what Jerry Rubin did as a scumbag Wall Street banker (excuse the redundancy) on the late 60's anti-war movement in the U.S.

Sat, 04/12/2014 - 23:37 | 4653101 LetThemEatRand
LetThemEatRand's picture

Yeah, he meant it back then.  Fucking cultists.  In what other context do you forgive actions for words?

Sun, 04/13/2014 - 00:09 | 4653159 Fred Hayek
Fred Hayek's picture

No, no one knows for certain which statements he meant. Though it seems more likely that this was the typical case of corruption. Nevertheless, we all know, except for you apparently, that Greenspan's later career had nothing in common with the sentiments he expressed about gold in 1966. Just slink away from your lost argument and go watch a Die Hard dvd. I usually enjoy your posts but the only one freaking out like a cult member here is you.

Sun, 04/13/2014 - 08:29 | 4653567 messystateofaffairs
messystateofaffairs's picture

At the point Greenspan relinquished his soul he underwent the transformation from a good Jew to a satanic Rothschild Zionist.

Sun, 04/13/2014 - 08:31 | 4653569 Canucklehead
Canucklehead's picture

So your saying he read the Koran?

Sun, 04/13/2014 - 16:26 | 4654779 sgt_doom
sgt_doom's picture

Greenspan was never a good Jew --- read up on his CV.

Mon, 04/14/2014 - 06:34 | 4656147 kurt
kurt's picture

Ms Rand

Cold dead shark eyes... like mommy.

Sat, 04/12/2014 - 22:35 | 4652971 ebworthen
ebworthen's picture

I think I forgot to mention that my Ex. Wife's door was kicked in by the local goon squad.

No search warrant.  They rang the bell and as my Ex. was coming down the stairs with my 10 year old Daughter the goons kicked the door in.

No search warrant, I repeat, no search warrant.  They scared the shit out of my little Girl, and shook up my Ex.

They did not pay to replace the deadbolt or knob they destroyed, nor apologize.

This was in the U.S.S.A. my friends; your rights are GONE.

Sat, 04/12/2014 - 22:38 | 4652984 813kml
813kml's picture

When did that happen?  Did they give a reason?  Not that any reason could be justifiable.

Sun, 04/13/2014 - 07:14 | 4653501 negative rates
negative rates's picture

They needed a gun in the house, what better way to get one?

Sun, 04/13/2014 - 13:29 | 4654283 RaceToTheBottom
RaceToTheBottom's picture

Ebworthen, you have stated a couple of stories like this.  I would expect there are some lawyers out there that would make sure this is punished,either through the courts or through the press.  Did anything result from these actions?

Sat, 04/12/2014 - 22:34 | 4652972 buzzardsluck
buzzardsluck's picture

Fuck you, fuck you, fuck you, fuck you...

Sat, 04/12/2014 - 22:38 | 4652981 Atomizer
Atomizer's picture

Told you for years. Half of the ZH community never connected the fraud. Still love you. 

Sat, 04/12/2014 - 23:17 | 4652997 LetThemEatRand
LetThemEatRand's picture

At least half of the ZH community still thinks that the "government" is something other than private bankers.  And they advocate for private corporations to run the world, while they complain about private corporations running the world.  You just can't make this shit up.

Sun, 04/13/2014 - 00:45 | 4653214 A Dollar Short
A Dollar Short's picture

"You just can't make this shit up"  (Sarc)

Sat, 04/12/2014 - 22:53 | 4653023 Fred Hayek
Fred Hayek's picture

McCloy was also a member of the Warren Commission, just to put the cherry on top of his mostly evil career.

Sat, 04/12/2014 - 22:53 | 4653024 HardlyZero
HardlyZero's picture

I can't see any of their LEFT hands...no crosses ?   Never know.

Sat, 04/12/2014 - 23:21 | 4653081 RichardParker
RichardParker's picture

Supposedly conceived to "help facilitate orderly currency exchange rates as countries recovered from World War II...  The IMF is trying to exploit the crisis in Ukraine to double its budget."  Talk about mission creep...

http://www.forbes.com/sites/markhendrickson/2014/03/24/the-imf-vs-the-am...

And let's not forget about their wealth tax propaganda campaign.  Nevermind that these IMF WHORES PAY NO TAXES!

Sat, 04/12/2014 - 23:28 | 4653092 sangell
sangell's picture

"Tyler Durden" casts his suspicious gaze on others but now, in view of the serious situation developing between the United States and Russia isn't it time that we cast our gaze upon Zero Hedge?

Who is Tyler Durden? We know it is a nom de plume. From where does this website derive its funding. It does not appear to be a corporate entity. Let's let a little sunshine illuminate from whom and why we are getting a straight diet of pro Russian propaganda.

Sun, 04/13/2014 - 08:28 | 4653564 Canucklehead
Canucklehead's picture

Well, roll up your sleeves and do some research. Post your findings here and let us see the quality of your work.

Vite, Vite, Vite!

And let's be snappy...

Sat, 04/12/2014 - 23:47 | 4653129 SubjectivObject
SubjectivObject's picture

Note; they are waving goodby.

When the opportunity presents,

assist them in their goodbys.

Sun, 04/13/2014 - 00:04 | 4653151 fishwharf
fishwharf's picture

John Jay McCloy

March 31, 1895 – March 11, 1989

Only the good die young.

https://www.youtube.com/watch?v=NJBoHa3GArA

Sun, 04/13/2014 - 08:04 | 4653538 dizzyfingers
dizzyfingers's picture

Foreign policy entanglements and treaties...wasn't that what started WW1? So... those "fixes" didn't work then, so they tried the same again?

Sun, 04/13/2014 - 08:36 | 4653577 eddiebe
eddiebe's picture

I have read in this thread some of the most cogent commentary on ZH. Thanks you all.

Sun, 04/13/2014 - 09:44 | 4653730 BeetleBailey
BeetleBailey's picture

Tyler's - I've never requested anything in my 2+ years here...but for the love of God...please...no more pictures of THOSE CRIMINAL WANKIN BANKERS HOLDING UP THEIR LYING ARMS TO "TELL THE TRUTH".....SO HELP THEM .....MOTHERFUCKER...

Please...I beg you....use something from the vaults of William....SOMETHING ELSE....

.....than that puke inducing photo.....

Sun, 04/13/2014 - 12:34 | 4654160 optimator
optimator's picture

Harry Dexter White, one of the Roosevelt Communist "advisors", along with Hiss, Moganthau and the rest of the Communist ashkenazi jews.

http://en.wikipedia.org/wiki/Harry_Dexter_White

Sun, 04/13/2014 - 13:11 | 4654232 no more banksters
no more banksters's picture

"IMF, World Bank and other institutions, were the basic tools for the invation to other countries during the next decades, and the result was always mass destruction for the economies. Today, for the first time, a Western developed area, called eurozone, is being tested."

http://failedevolution.blogspot.gr/2013/12/december-23-2013-banksters-ce...

Sun, 04/13/2014 - 13:16 | 4654249 free_lunch
free_lunch's picture

Page with a lot of interesting links + books in pdf form about NWO: http://www.jesus-is-savior.com/False%20Religions/Illuminati/nwo_basics.htm

 

Sun, 04/13/2014 - 14:29 | 4654431 shovelhead
shovelhead's picture

Jesus vs. The Reptoid Illuminati.

A summer blockbuster coming to a theater near you.

 

"If you liked Cowboys and Aliens, you'll LOVE Jesus vs. The Reptoid Illuminati."

Jose Marengue -NY Times.

Sun, 04/13/2014 - 16:09 | 4654678 earleflorida
earleflorida's picture

you know what amazes me-- the very fact that w. averell harriman's name didn't come up. he was one of the wealthiest men in the country that could make joseph kennedy's fortune look like a piker, yet he gave the best part of his life for the democratic party and what it stood for [not the trickle down gop]..., equality and upward molbility.    http://en.wikipedia.org/wiki/W._Averell_Harriman

now, back to morgenthau. he was a jew [a zionist, too boot?], and blamed his jewish ancestry as a wedge issue between him and truman... bluntly stating it was the sole reason he wasn't invited to the potsdam conference in [berlin] germany. morgenthau thought personally that it was essential that he play a part in negotiations and that he would resign if not. truman immediately asked him for his resignation!

fred m. vinson was now sec. of the treasury the next day.    http://en.wikipedia.org/wiki/Fred_M._Vinson

one of the main problems about morgenthau is that he proposed stripping germany of all its heavy industry and reduce it into agricultural land [a giant potato field as goebbels called it], something that sec. of war henry l. stimson sorely disagreed with! stalin loved it, but stalin was in no mood to see a jew having any influence on the demarcation of eastern europe negotiation regarding foreign affairs, or other vital matters, period!     http://en.wikipedia.org/wiki/Henry_Stimson

truman never cared much for morgenthau when he was a u.s. senator... he saw right-throuh-him for what he was-- an opportunist! besides the fact he wanted fdr's cabinet culled out for what he saw as ladened with deadbeats. truman prvately wrote in his later years that, "morgenthau didn't no shit from apple butter"!          http://en.wikipedia.org/wiki/Henry_Morgenthau,_jr   

thankyou Tyler

jmo    Great Read!!! :-))

Sun, 04/13/2014 - 17:24 | 4654934 JeffB
JeffB's picture

Keynes the Man

Those .pdf & ebook versions are free to view/download.

 

Sun, 04/13/2014 - 21:55 | 4655541 AdvancingTime
AdvancingTime's picture

Whether by design or merely as a byproduct of globalization we have weaved a web of financial transactions that circle the globe. Over the last several years as money was printed by the central Banks it was not contained in the countries where in was printed. This money flowed across borders influencing and distorting markets and prices across the world.

Some people have been calling for a "world currency" for years. the saying "one should never let a good crisis go to waste" means a meltdown with high levels of fear would present a perfect opportunity to advance this agenda down the field. Remember many people with agendas have a lot to gain when a major shift in the currency markets takes place. More on this subject in the article below.

http://brucewilds.blogspot.com/2014/02/contagion-may-lead-to-new-world-c...

Sun, 04/13/2014 - 22:43 | 4655620 exartizo
Mon, 04/14/2014 - 06:44 | 4656158 kurt
kurt's picture

Whole lot 'o Rand pokin' goin' on. One guy's head is about to explode... see below.

Do NOT follow this link or you will be banned from the site!