By Dr Shahid Qureshi : –
‘Wall Street got drunk’, said former President Bush. Well Wall Street has been wining, dining playing ‘Wars’ on other people’s money and profiteering for a very long time? The current recession in the USA and rest of the world make many people wonder how can US,UK and other governments are bailing out banks and institutions with the taxpayers’ money? A US member of the Congress said, “Why are we giving money to the same people who made the mess in the first place”? Another said, ‘I will hold my nose before voting in favor of President Bush’s $700 billion bail out plan’.
It is world wide know fact for the world and a kind of faith that Adolph Hitler was the chief culprit of Holocaust. Well there seems to be another side of the story. Hitler was low ranking corporal in the German Armed Forces in the WWI. It is quite extra ordinary that he made defeated Germany an industry based military power in 20 years. It would be impossible without some kind mentoring and foreign financial support?
Antony C. Sutton a famous researcher wrote in ‘Wall Street and the Rise of Hitler’,: “Since the early 1920s reports have circulated to the effect that not only German industrialists but also Wall Street financiers had a substantial role in the rise of Hitler and Nazism. This book presents previously unpublished evidence, a great deal from the files of the Nuremberg Military Tribunals, to support this hypothesis. However, the full impact of the evidence cannot be found from reading this volume alone. Two previous books in this series, Wall Street and the Bolshevik Revolution and Wall Street and FDR, described the roles of the same firms, and often the same individuals and their fellow directors, hard at work manipulating and assisting the Bolshevik revolution in Russia in 1917, backing Franklin D. Roosevelt for President in the United States in 1933, as well as aiding the rise of Hitler in pre-war Germany.
Sutton remarks, “It is not an extraordinary coincidence that Roosevelt’s New Deal should have so closely resembled Hitler’s New Order program for Germany , and that both Hitler and Roosevelt took power in the same month of the same year—March 1933.”
The references and facts provided by Sutton in his research are an eye opener. Even today if one put things in perspective and also the beneficiaries of events that changed the world perspectives be it invasions of sovereign states like Afghanistan and Iraq , fraudulent wars or mega terrorism events like 9/11 of US and 7/7 in London .
The Obama Government should not only do criminal investigation into the terrible events of 9/11 but also investigate root causes and individuals behind financial crisis and Madoff’s $50 billion cons and scams?
The US ambassador to Germany William Dodd wrote his concerns about role of US industrialists in supporting Nazis. Ambassador William Dodd wrote to President Franklin D Roosevelt, from Berlin on 19 Oct 1936 about three years after Hitler took complete control of Germany : “At the present moment more than a hundred American corporations have subsidiaries here. The DuPonts have three allies in Germany that are aiding in the armament business. Their chief ally is the I.G. Farben Company, a part of the Government, which gives 200,000 marks a year to one propaganda organization operating on American opinion… The Standard Oil Co. of New York, the parent company of the Vacuum Oil Co. of Hamburg, has spent 10 million marks in Germany trying to find oil resources and building a great refinery near the Hamburg harbor. The Vacuum spends all its earnings here, employs 1000 men and never sends any of its money back home.”
It does seems like a unholy alliance of Nazis and US financial and industrial institutions but one can see the similar kind of investments in Soviet Union! We have recently observed the domino affect of the collapse of the US financial institutions (Wall Street) worldwide?
Anthony Sutton wrote, “Wall Street involvement with Hitler’s Germany highlights two Germans with Wall Street connections—Hjalmar Schacht and Ernst Sedgwick (Putzi) Hanfstaengl. The latter was a friend of Hitler and Roosevelt who played a suspiciously prominent role in the incident that brought Hitler to the peak of dictatorial power—the Reichstag Fire of 1933. Hjalmar H. G. Schacht was born in Germany but his parents were settled in New York . The Schacht family worked for the Wall Street financial house of Equitable Trust (controlled by the Morgan firm), and throughout his life Hjalmar retained these Wall Street connections.
He was a member of the international financial elite that wields its power behind the scenes through the political apparatus of a nation. Schacht is a key link between the Wall Street elite and Hitler’s Inner Circle . Hjalmar Schacht was Hitler’s financial genius and president of the Reichsbank, and Germany ’s representative at the Bank for International Settlements. The contribution made by American capitalism to German war preparations before 1940 can only be described as phenomenal. For instance, in 1934 Germany produced only 300,000 tons of petroleum products and less than 300,000 tons of synthetic gasoline. Yet 10 years later in WW II, after transfer of the Standard Oil hydrogenation patents and technology to I.G. Farben (used to produce synthetic gasoline from coal), Germany produced about 6.5 million tons of oil.”
“The largest Tank producer in Hitler’s Germany was Opel, a wholly owned subsidiary of General Motors (controlled by the J. P. Morgan firm); (p. 31). It is important to note that General Motors, General Electric, DuPont and the handful of US companies intimately involved with the development of Nazi Germany were controlled by the Wall Street elite—J.P. Morgan firm, Rockefeller Chase Bank and Warburg Manhattan Bank; (p. 31). Hamburg banker Max Warburg was on the Board of Directors of the German I.G. Farben. His brother Paul Warburg was a founder of the Federal Reserve System in the United States , and was also on the Board of the American I.G. Farben’s US subsidiary”, wrote Sutton on page 33.
“Farben was Hitler and Hitler was Farben,” Senator Homer T. Bone told the Senate Committee on Military Affairs, June 4, 1943. The Farben cartel dated from 1925, when organizing genius Herman Schmitz, with Wall Street financial assistance, created the super-giant chemical enterprise out of six giant German chemical companies. Without the capital supplied by Wall Street, there would have been no I.G. Farben in the first place, and almost certainly no Adolf Hitler and World War II. I.G. Farben is of peculiar interest in the formation of the Nazi State because Farben directors materially helped Hitler and the Nazis to power in 1933. We have photographic evidence that I.G. Farben contributed 400,000 RM to Hitler’s political ‘slush fund’. It was this secret fund which financed the Nazi seizure of control in March 1933.
Many years earlier Farben had obtained Wall Street funds for the 1925 cartelization and expansion in Germany and $ 30 million for American I.G. in 1929, and had Wall Street directors on the Farben Board. It is to be noted that these funds were raised and directors appointed years before Hitler was promoted as the German dictator. Putzi Hanfstaengl was another German-American at the core of the rise of Hitlerism. He helped finance the first Nazi daily press, the Volkische Beobachter. “The fact that Hitler found a functioning staff when he was released from jail was entirely due to our efforts,” wrote Putzi in his memoir (Unheard Witness, New York: J.B. Lippincott, 1957). He gave money to Hitler in 1923, helped him write Mein Kampf, and was in every way familiar with Hitler’s motives”. It seems Wall Street and its inhabitants have been running parallel worlds or perhaps living parallel lives too? Is it time to let the world free from these evils?
It is not a rocket science to inference that those who control the finances in the end control the heart of the economy, policies and day to day lives of the people. In other words whole sale privatization of the state resources would lead the country on the verge of collapse. Is it not ironic that governments are bailing out the same banks and institutions that caused the financial mess in the first place?
Is there any one in the world who could investigate the sudden rise in the oil prices and its trickle down affect on small and big economies? Why gold prices almost tripled in last few years? Who is got the gold reserves? The multinationals and big businesses are swallowing the small and medium size businesses in the guise of providing cheap products to the people? Once small businesses run by one or two individuals disappeared these big giant stores would blackmail not only consumers but respective governments because their agenda is ‘profiteering’ not servicing.
The Obama Government should not only do criminal investigation into the terrible events of 9/11 but also investigate root causes and individuals behind financial crisis and Madoff’s $50 billion cons and scams? The evil of war profiteering must stop to save the humanity from deaths and destruction.
(Dr Shahid Qureshi is senior analyst with BBC and editor of The London Post. He writes on security, terrorism and foreign policy. He appears as analyst on Al-Jazeera, Press TV, MBC, Kazak TV (Kazakhstan), LBC Radio London. He was international election observer for Kazakhstan 2015 and Pakistan 2002. He has written a famous book “War on Terror and Siege of Pakistan” published in 2009. He is PhD and studied Law at a British University)