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."The Congressmen never did get to discuss the Stabilization Fund,another setup whereby we would give the impoverished countries ofEurope back the gold which had been sent over here.In 1945, HenryHazlitt, commenting in Newsweek of January 22, on Roosevelt s annualbudget message to Congress, quoted Roosevelt as saying:"I shall later recommend legislation reducing the present high goldreserve requirements of theFederal Reserve Banks."169Hazlitt pointed out that the reserve requirement was not high, it wasjust what it had been for the past thirty years.Roosevelt s purpose was276 to free more gold from the Federal Reserve System and make itavailable for the Stabilization Fund, later called the InternationalMonetary Fund, part of the World Bank for Reconstruction andDevelopment, the equivalent of the League Finance Committeewhich would have swallowed the financial sovereignty of the UnitedStates if the Senate had let us join it.170277 CHAPTER FOURTEENCongressional Exposé"Mr.Volcker s politics is something of an enigma."--New York TimesSince 1933 when Eugene Meyer resigned from the Federal ReserveBoard of Governors, no member of the international banking familieshas personally served on the Board of Governors.They have chosen towork from behind the scenes through carefully selected presidents ofthe Federal Reserve Bank of New York and other employees.The present chairman of the Federal Reserve Board of Governors isPaul Volcker.His appointment was greeted by one well-knowneconomist with the following prediction, "Volcker s selection has beenby far the worst.Carter has put Dracula in charge of the blood bank.To us, it means a crash and depression in the 80s is more certain thanever."Col.E.C.Harwood s Research Report, August 6, 1979, gave much thesame view."Paul Volcker is from the same mold as the unsound moneymen who have misguided the monetary actions of this nation for thepast five decades.The outcome probably will be equally disastrous forthe dollar and the U.S.economy."Despite these gloomy views, the report from The New York Times on theselection of Volcker was positively ecstatic.On July 26, 1979, The Timescommented that Volcker learned "the business" from Robert Roosa,now partner of Brown Brothers Harriman, and that Volcker had beenpart of the Roosa Brain Trust at the Federal Reserve Bank of New York,278 and, later, at the Treasury in the Kennedy administration."DavidRockefeller, the chairman of Chase, and Mr.Roosa were stronginfluences in the Mr.Carter decision to name Mr.Volcker for theReserve Board chairmanship." The New York Times did not point outthat David Rockefeller and Robert Roosa had previously chosen Mr.Carter, a member of the Trilateral Commission, as the presidentialcandidate of the Democratic Party, or that Mr.Carter would hardlyrefuse to appoint their choice of Paul Volcker as the new Chairman ofthe Federal Reserve Board.Nor is it straining the point to be remindedthat this manner of selection of the Chairman of the Board ofGovernors is directly in the line of royal prerogative going back toGeorge Peabody s initial agreement with N.M.Rothschild, to the JekyllIsland meeting, and to the enactment of the Federal Reserve Act.171The Times noted that "Volcker s choice was approved by Europeanbanks in Bonn, Frankfurt and Zurich." William Simon, former Secretary ofTreasury, was quoted as saying "a marvelous choice." The Times furthernoted that the Dow market rose on Volcker s nomination, registeringthe best gains in three weeks for a rise of 9.73 points, and that thedollar rose sharply on foreign exchange@ at home and abroad.Who was Volcker, that his appointment could have such an effect onthe stock market and the value of the dollar in foreign exchange? Herepresented the most powerful house of "the London Connection,"Brown Brothers Harriman, and the London houses which directed theRockefeller empire.On July 29, 1979, The Times had said of Volcker,"New Man Will Chart His Own Course".279 Volcker s background shows that this was nonsense.His course hasalways been charted for him by his masters in London.He attendedPrinceton, obtained an M.A.at Harvard, and went to the LondonSchool of Economics 1951-52, the banker s graduate school.He thencame to the Federal Reserve Bank of New York as an economist from1952-57, economist at Chase Manhattan Bank, 1957-61, with TreasuryDepartment 1961-65, as deputy under secretary for monetary affairs,1963-65, and under secretary for monetary affairs, 1969-74.He thenbecame President of the Federal Reserve Bank of New York from 1975-79, when Carter, at the behest of Robert Roosa and David Rockefeller,appointed him Chairman of the Federal Reserve Board of Governors.He was succeeded as President of Federal Reserve Bank of New Yorkby Anthony Solomon, a Harvard Ph.D.who was with the OPA 1941-42and with the government financial mission to Iran 1942-46.Heoperated a canned food company in Mexico from 1951-61, waspresident of International Investment Corp.for Yugoslavia 1969-72 (acommunist country), under secretary for monetary affairs at Treasury1977-80.In short, Solomon s background was much the same as PaulVolcker s.The New York Times stated on December 2, 1981, "For years the FederalReserve was the second or third most secret institution in town.TheSunshine Act of 1976 penetrated the curtain a trifle.The board nowholds a public meeting once a week on Wednesday at 10 a.m., butnot to discuss Monetary policy, which is still regarded as top secret andnot to be discussed in public." The Times mentioned that when OpenMarket Committee meetings are held, Solomon and Volcker sittogether at the head of the table and relay the instructions which theyhave received from abroad [ Pobierz caÅ‚ość w formacie PDF ]
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."The Congressmen never did get to discuss the Stabilization Fund,another setup whereby we would give the impoverished countries ofEurope back the gold which had been sent over here.In 1945, HenryHazlitt, commenting in Newsweek of January 22, on Roosevelt s annualbudget message to Congress, quoted Roosevelt as saying:"I shall later recommend legislation reducing the present high goldreserve requirements of theFederal Reserve Banks."169Hazlitt pointed out that the reserve requirement was not high, it wasjust what it had been for the past thirty years.Roosevelt s purpose was276 to free more gold from the Federal Reserve System and make itavailable for the Stabilization Fund, later called the InternationalMonetary Fund, part of the World Bank for Reconstruction andDevelopment, the equivalent of the League Finance Committeewhich would have swallowed the financial sovereignty of the UnitedStates if the Senate had let us join it.170277 CHAPTER FOURTEENCongressional Exposé"Mr.Volcker s politics is something of an enigma."--New York TimesSince 1933 when Eugene Meyer resigned from the Federal ReserveBoard of Governors, no member of the international banking familieshas personally served on the Board of Governors.They have chosen towork from behind the scenes through carefully selected presidents ofthe Federal Reserve Bank of New York and other employees.The present chairman of the Federal Reserve Board of Governors isPaul Volcker.His appointment was greeted by one well-knowneconomist with the following prediction, "Volcker s selection has beenby far the worst.Carter has put Dracula in charge of the blood bank.To us, it means a crash and depression in the 80s is more certain thanever."Col.E.C.Harwood s Research Report, August 6, 1979, gave much thesame view."Paul Volcker is from the same mold as the unsound moneymen who have misguided the monetary actions of this nation for thepast five decades.The outcome probably will be equally disastrous forthe dollar and the U.S.economy."Despite these gloomy views, the report from The New York Times on theselection of Volcker was positively ecstatic.On July 26, 1979, The Timescommented that Volcker learned "the business" from Robert Roosa,now partner of Brown Brothers Harriman, and that Volcker had beenpart of the Roosa Brain Trust at the Federal Reserve Bank of New York,278 and, later, at the Treasury in the Kennedy administration."DavidRockefeller, the chairman of Chase, and Mr.Roosa were stronginfluences in the Mr.Carter decision to name Mr.Volcker for theReserve Board chairmanship." The New York Times did not point outthat David Rockefeller and Robert Roosa had previously chosen Mr.Carter, a member of the Trilateral Commission, as the presidentialcandidate of the Democratic Party, or that Mr.Carter would hardlyrefuse to appoint their choice of Paul Volcker as the new Chairman ofthe Federal Reserve Board.Nor is it straining the point to be remindedthat this manner of selection of the Chairman of the Board ofGovernors is directly in the line of royal prerogative going back toGeorge Peabody s initial agreement with N.M.Rothschild, to the JekyllIsland meeting, and to the enactment of the Federal Reserve Act.171The Times noted that "Volcker s choice was approved by Europeanbanks in Bonn, Frankfurt and Zurich." William Simon, former Secretary ofTreasury, was quoted as saying "a marvelous choice." The Times furthernoted that the Dow market rose on Volcker s nomination, registeringthe best gains in three weeks for a rise of 9.73 points, and that thedollar rose sharply on foreign exchange@ at home and abroad.Who was Volcker, that his appointment could have such an effect onthe stock market and the value of the dollar in foreign exchange? Herepresented the most powerful house of "the London Connection,"Brown Brothers Harriman, and the London houses which directed theRockefeller empire.On July 29, 1979, The Times had said of Volcker,"New Man Will Chart His Own Course".279 Volcker s background shows that this was nonsense.His course hasalways been charted for him by his masters in London.He attendedPrinceton, obtained an M.A.at Harvard, and went to the LondonSchool of Economics 1951-52, the banker s graduate school.He thencame to the Federal Reserve Bank of New York as an economist from1952-57, economist at Chase Manhattan Bank, 1957-61, with TreasuryDepartment 1961-65, as deputy under secretary for monetary affairs,1963-65, and under secretary for monetary affairs, 1969-74.He thenbecame President of the Federal Reserve Bank of New York from 1975-79, when Carter, at the behest of Robert Roosa and David Rockefeller,appointed him Chairman of the Federal Reserve Board of Governors.He was succeeded as President of Federal Reserve Bank of New Yorkby Anthony Solomon, a Harvard Ph.D.who was with the OPA 1941-42and with the government financial mission to Iran 1942-46.Heoperated a canned food company in Mexico from 1951-61, waspresident of International Investment Corp.for Yugoslavia 1969-72 (acommunist country), under secretary for monetary affairs at Treasury1977-80.In short, Solomon s background was much the same as PaulVolcker s.The New York Times stated on December 2, 1981, "For years the FederalReserve was the second or third most secret institution in town.TheSunshine Act of 1976 penetrated the curtain a trifle.The board nowholds a public meeting once a week on Wednesday at 10 a.m., butnot to discuss Monetary policy, which is still regarded as top secret andnot to be discussed in public." The Times mentioned that when OpenMarket Committee meetings are held, Solomon and Volcker sittogether at the head of the table and relay the instructions which theyhave received from abroad [ Pobierz caÅ‚ość w formacie PDF ]