The Colonel’s Corner The Splendid Blond Beast #4

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Transcript

0:00 Okay, Illini, if this actually works, I am going to officially make you our IT dude. Okay, guys, I'm setting up Rumble, and we'll be ready to go in just one second. How are you today, Bridget? Wonderful. I think Illini has actually gave me the tip that finally, hopefully, keeps me from getting booted out. What was that? I had to reset my Wi-Fi. Oh.

0:40 Yeah, right. Something just simple can just throw a glitch into the whole system. Go figure. Yeah, he's pretty smart. He's creating a monster over here, though. If he can teach you techie stuff, I am so impressed. I'm not going to say he's teaching me techie stuff. He's teaching me how to use his techie stuff.

1:12 I don't want to get anyone's expectations up too high. Either way, I'm telling you, we've got quite the team going on. Bridget, along those lines, I think a lot of people, they don't reset their devices nearly enough. I think we leave our phones on for like weeks and months at a time. And it's very important to reset the devices every so often so that you just kind of reset everything. So that's solid advice.

1:42 OK, and Warhamster shows up on the very day that is necessary for him to be here because the name of the chapter is Bankers, Lawyers and the Linkage Group. So I love it. I am licking my chops and I'm glad I could stop by. Yeah. All right. Let's dig in. We are on chapter four of the Splendid Blonde Beast. OK.

2:11 And we just covered the Armenian thing leading into the next area. So the author goes on and says the war that had been desperately destructive and many believe at the end of it that Germany should offer compensation for the war. Others limited their claims to the cost of military pensions, medical treatment for wounded soldiers.

2:43 No matter how you were going to slice the pie, it ended up being obviously billions of dollars. The British delegation to the Paris Peace Conference brought a demand for the equivalent of about $90 billion in reparations, payments plus a share of German colonies abroad. The German-owned industrial properties in Eastern Europe. The French demanded $200 billion.

3:13 The U.S. delegation's official point of view was that $25 or $30 billion would be appropriate. Its confidential position, however, was that $25 billion was excessive, but a public claim for that amount was necessary to pacify political constituencies both in Europe and the U.S. In any case, Germany must be permitted to retain prerequisite working capital

3:40 said U.S. negotiator Norman Davis, to put it into rebuilding private enterprise economy in the wake of the war. John Foster Dulles arrived at the Paris Peace Conference as a junior legal counsel to the U.S. delegates. He emerged as an important negotiator in his own right, the drafter of much of the proposed treaty language concerning war reparations and the principal U.S. legal expert.

4:11 in this lucrative new field. The U.S. strategy on reparations reflected three interlocking concerns. The most frequently mentioned of these was to help rebuild by similar humanitarian concerns. In confidential discussions, Dulles in the U.S. delegation placed greater stress on a second concern, the possibility of revolution or civil war in Europe.

4:47 Secretary of State Uncle Burt Lansing commented the following. Terrible, possibly of a proletarian despotism over Central Europe, unquote, directly argued that reparations must be kept low in order to avoid revolution. The Berlin and Budapest rebellions, both eventually suppressed with considerable bloodshed.

5:19 seemed to provide vivid evidence to ruling circles that there was substance to Lansing fears. Third, and perhaps most fundamentally, Dulles and the U.S. delegation were anxious to restart the engine of commerce that had been disrupted by the war. And isn't that interesting, since they represented a large segment of the interruption. Without a German economy recovery, Norman Davis wrote,

5:48 It is impossible for the rest of Europe to get to work and be prosperous. It is most essential for the future stabilization of Europe that business confidence and credit be restored at the earliest possible moment. And these can never be restored as long as any nation in Europe is struggling under a financial burden which the investors of the world think she cannot carry. Their main concern.

6:19 was the investors of the world. And that is a repeated theme throughout this book. If I may, I'm sorry to interrupt. Rumble hasn't started yet. Oh, thank you. I don't know why. All right. I think we just had a glitch. Let me see. All right. Now it should be live. It may take a minute. John Foster Dulles seemed driven to create and sustain this new structure.

6:55 At Paris, he helped hammer out a compromise on reparations. While not all that he had hoped for, it was nonetheless less damaging to his vision of a prosperous Europe than the French and British alternatives. Dulles favored restricting the definition of war crimes to the greatest degree possible.

7:18 Then limiting the defeated powers obligation to pay reparations to those few cases that had successfully been prosecuted. And again, that point is going to be very important. His approach carried with it a de facto legalization of those wartime atrocities that fell outside the specific terms that had been defined by the State Department.

7:47 The complex formula for German reparations that finally emerged from the Paris negotiations added up to the equivalent of roughly 25 to 30 billion to be paid over 30 years. Economists such as John Maynard Keynes established their early reputations in large part by attacking this reparation plan, contending that it would debilitate the German economy and thus damage France and Britain as well.

8:18 Keynes argued that it was better for all to encourage a rapid, stable recovery of private enterprise in general and to put wartime atrocities aside. Although the German government bitterly resented the reparations, it agreed to pay them. It did it in part by what amounted to little more than printing new currency and the infamous German inflation crisis in the early 1920s was the result.

8:48 The Germans then cut off further payment as their economy staggered towards complete collapse. That in turn prompted the French and the Belgians to occupy the, I'm not sure how you pronounce that, Ruhr Valley, R-U-H-R, the heart of the German coal and steel industry, in an attempt to enforce Germany's treaty obligations. By 1923, the prospect of renewed war or rebellion in Central Europe was again on the horizon.

9:19 John Foster Dulles had meanwhile returned to the law firm of Sullivan and Cromwell, where he was a full partner specializing in all the legal aspects of German reparations and in international finance. Between 1923 and 1924, banker J.P. Morgan recommended Dulles be the special counsel to the Dawes Committee.

9:44 which the U.S. and British banks had helped establish in hopes of finding a way out of the reparation debacle. Dulles helped engineer a scheme under which the U.S. and foreign banks made new loans to the Reichsbank, which was the German state bank, which used the funds to pay reparations to Britain, France, and European powers, who in turn paid off their war loans from the U.S.

10:11 This financial merry-go-round generated millions of dollars in interest payment for the international bankers and kept billions of dollars worth of loans current just a bit longer. How long the borrowed money could continue to revolve remained an open question, but as long as it worked, John Foster Dulles was held as a financial genius. Meanwhile, Dulles' law firm and his major clients pioneered

10:36 a roughly similar system for private U.S. investments in German finance and industry. This new network of trade relations proved to be the most important single push forward in elite U.S.-German relations prior to World War II, though, of course, some ties between the U.S. and German businesses can be traced back even earlier. The U.S. had emerged from World War I with its currency and industry stronger than ever.

11:06 at least as long as the Britons and other debtors continue to pay their bills. In the 1920s boom, driven by imperialism, cheap oil in the emerging automobile economy in the U.S. created enormous pools of investment funds in the banks of New York and Boston. This led to an international financial situation that was similar in some respects to the Middle East oil crisis of the 70s.

11:36 During the 70s crisis, the central problem from the standpoint of international finance was to recycle the massive pools of funds that had shifted to the Middle East back through the international banking networks in order to stave off a string of bankruptcies that would have otherwise resulted from liquidity in the system. During the 1970s, most of this recycling was carried out through the euro-dollar market.

12:01 During the second half of the 20s, the most important international market for recycling the new private U.S. wealth was Germany. This investment was carried out mainly through loans to German industries. Direct U.S. investment in German companies, development loans to German cities, and millions of dollars worth of the Dawes Plan's credits that indirectly financed

12:26 German war reparations. The scope of U.S.-German capital flow during the 20s has never been fully documented, but the fraction of it that can be traced totals close to $1.5 billion, not including the DOS plan credits. In today's currency, that's tens of billions of dollars.

12:49 There was considerable direct U.S. investment in German companies as U.S. companies sought to buy into European markets at bargain prices. Our favorite company, ITT, purchased a half dozen German telecom equipment manufacturers during the late 1920s and early 30s, while General Motors bought control of the Adam Opel Corporation and with it about 40% of the German auto market. In 1929,

13:19 Fitz Opel joined GM's board of directors as part of the deal. Ford Motor Company built a vast factory in Cologne, then used it to manufacture cars for all of Central and Eastern Europe. There were also joint ventures, such as I.B. Farben's PAC with Standard Oil of New Jersey, some of which were subsequently found to be in violation of U.S. law. General Electric purchased substantial shares of German electronic giant

13:48 A.E.G. and Simmons, and entered joint ventures with both companies. Now, what we're describing here is the intertwining of Germany with U.S. oligarchs, which of course we know comes into play in World War II. Specialized banks, law firms, and trading companies that focused on opening the German market to the U.S. capital sprang up on both sides of the Atlantic.

14:18 Without exception, the giant U.S.-German capital flows were administered by a small group of specialists at the very top of a social structure of both countries. A number of institutions and individuals who were prominent in this trade went on to play very powerful roles in U.S.-German affairs over the next five decades.

14:47 one of Warhamster and I's favorite, private U.S. investment bankers specialized in loans to Deutsche Bank, Simmons, and Flick. Between 1925 and the stock market crash of 1929, these loans amounted to more than a quarter of a billion dollars. Friedrich Flick built his fortune during the 1920s using bonds sold by Dylan Reed.

15:16 to finance what today might be called a leveraged buyout of German and Polish coal and steel companies. Most of Dillon Reed's own capital was oil money, including substantial sums from Rockefeller, Draper, and Dillon families.

15:31 The bulk of the money went to Germany, however, was raised via limited partnership bond syndications in the U.S. market. This meant that when Germany defaulted on a series of loans in the early 1930s, Dylan Reed and its major partners had already taken their share of the spoils, while the smaller investor, you and I, that had bought the bonds lost tens of millions of dollars.

16:00 And I do want to mention a few of our other international syndicate members in a footnote. The footnote to this says the U.S. corporate investment in Germany during the 20s and 30s was concentrated in the hands of fewer than two dozen major companies. Report economic historian Myra Wilkins. According to her data.

16:29 U.S. industrial leaders in Germany included oil and chemical companies like DuPont, Standard Oil of New Jersey, and Texaco. Food and consumer products such as Kora Corn Products Refining Company, today it's called CPC International, and of course the most notorious one, United Fruit.

16:55 and mining companies such as American Metal, today it's AMAX, Anaconda, which we found in Chile, copper mining, International Nickel, based in Canada, but it was American-owned, and the large Gutenheim mining interest. The most active category of U.S. industrial investors appears to have been automotive and light industry manufacturing companies like Ford,

17:25 GE, GM, Goodrich, and IBM, Snow White, International Harvester, ITT, National Cash Register, who had a joint venture with Krupp, and Singer were among some of the smaller companies. Now, I find this very interesting because National Cash Register, as we will learn,

17:53 or we have already learned, is a company that was associated with intelligence gathering all over the world. It basically functioned as a front with many of their franchise owners and in foreign countries because they had their finger on the pulse of every economic transaction.

18:25 I'm not saying like a computerized version because it was not, but they literally were able to collect economic espionage information that no one else had access to. They were critical. And we find them during World War II. James Jesus Angleton's father owned the franchise in Italy.

18:52 And that's why Angleton spent a lot of time in Italy before he joined the OSS and then the CIA, because his dad was spying and providing information to the State Department based on his franchise in Italy. And that is all very well documented. Dylan Reed executives during this period included company's president, James Forrestal.

19:23 who would become the U.S. Secretary of Defense and the guy that famously supposedly checked out the window when he was seeking psychiatric medical care. William Draper, later economics chief of the U.S. military government during the U.S. occupation of Germany and Japan. Paul Nitz, prominent U.S. diplomat and national security advisor. Ferdinand Eberstadt.

19:52 later vice chair of the War Production Board and a central figure in creating the CIA, and C. Douglas Dillon, U.S. diplomat and later Secretary of the Treasury. Another Wall Street firm that specialized in U.S.-German trade was Brown Brothers Harriman, a private investment bank dominated by W. Avril Harriman, whose family fortune rivaled that of the Rockefellers.

20:21 Harriman went on to become one of the most influential figures in U.S. foreign affairs over the next 50 years. His key political ally also served as senior executives of banks, including Robert Lovett, who became Secretary of Defense, and Prescott Bush. We all know who he is. And of course, Sullivan and Cromwell acted as agents for U.S. companies investing in Europe. And they literally were behind all of this.

20:51 They were writing up the legal documents for almost everything I just described. The law firm represented U.S. corporate interests involved in international cartels. The Allied Chemical Company, a participant in an illegal chemical cartel organized by IG Farben, an international nickel company, the leading nickel cartel. It simultaneously represented German clients such as the international shipping combine of...

21:20 H.A.P.A.G. and the I.G. Farben Division, General Al-Anon and Film Corporation, known today as G.A.F. Most of the records concerning John Foster Dulles' legal work with all of this during the 1920s has weirdly been destroyed or they remain confidential. A few interesting fragments have survived, however, and have been assembled by a biographer.

21:49 by the name of Ronald Poussin, who used Dulles' appointment book to reconstruct a list of his personal clients. The list included virtually all of the important U.S. banks involved in international trade. J.P. Morgan, Kuhn Loeb & Company, Lee Higgins & Company, Brown Brothers Harriman, and closely related W.A. Harriman & Company, Dylan Reed, Guarantee Trust Company of New York,

22:18 First National Corporation of Boston, and many others. In most instances, his legal work for investors consisted of complex three- and four-sided financial projects whose success depended on Dulles' skill as a negotiator and his contacts inside the U.S. government. Typically, private banks and brokerage houses sought out lending

22:43 leading German and other foreign companies, banks, and local governments with offers to loan U.S. dollars for constructions of new factories, municipal electrification, and other infrastructure projects. If the foreign party was interested, it would issue millions of dollars worth of bonds and sell them to Dulles' clients for somewhat less than market price, in other words, at wholesale rate.

23:12 so to speak. The clients would then turn around and sell the bonds to other U.S. banks and individual investors at retail rates, usually paying Dulles and Sullivan and Cromwell two to three percentage points of the overall value of the bond for their service. The foreign borrowers included not only dozens of companies, but also governments as varied as Argentina, Czechoslovakia, and Denmark.

23:41 However, Dulles fully emphasized projects for Germany, for the military junta of Poland, and for Mussolini's fascist state in Italy. The U.S. State Department documents assembled by Prussian provide some indication of the nature and scope of the business in which Dulles played a personal role as a fixer, advisor, and middleman.

24:08 In the 1924 German external loan of $100 million, DOS plan loan managed in the U.S. by J.P. Morgan, National City, Lee Higgins & Company, and Kuhn & Lowe. Another one was bond sales underwritten by Harris Forb & Company for the city of Munich, $8.7 million. Another one for Electrowork AG, which was $5.5 million.

24:38 And Deutsche Bank, $10 million. Another one was a sale of $10 million worth of bonds for First Mortgage Bank of Saxony, managed by Brown Brother Harriman. And there's a whole list of them. $3 million by Lehman Brothers and a $5 million bond for the city of Nuremberg.

25:04 underwritten by Equitable Trust Company, Lee Higgins. Bonds sold by Brown Brothers Harriman on behalf of the German Union of Mortgage Banks, which was $10 million. A cold and iron syndicate, $3 million. Let's see, $20 million bond for North German Lloyd Steamship Company that was issued by Kuhn Loeb and Guarantee Trust and Lee Higgins.

25:34 Another one, $10 million that was for General Electric. Goldman Sachs got in and purchased 400 shares of Credit Stock Bank of Vienna and a $70 million loan that Bankers Trust worked with Poland. All of these and more than a dozen other transactions had a combined value of

26:03 in excess of billions of dollars. For John Foster Dulles, international banking seemed to be a noble and humanitarian profession. Quote, it is the highest function of finance to move goods from the place where they constitute a surplus to the place where they will fill a deficit, unquote. That's a statement he made at the Foreign Policy Association.

26:31 while he was discussing the economic boon of the 1920s. He went on to say, quote, and in performing this service during the past nine years, our bankers have given an extraordinary demonstration of the benefit use of financial power, unquote. Banker and latter-day diplomat Paul Nitz

27:00 describes a 1929 incident in his autobiography that captures much of the financial community's sense of its role. Nitz was, in those days, a protege of Dylan Reed, Chairman Clarence Dylan. As Nitz tells the story, the elder executive explained to him that over the previous 50 years, the New York banking community had welded more influence than politicians in Washington. Throughout history, Dylan continued,

27:29 Societies have been dominated by one element of society or another, either by priests, royalty, military, or politicians, either from the common folk or from aristocracy, and from time to time by financial wealthy people. This last element had found its way to the top of the hierarchy for a while in ancient Greece, in Rome, in the days of...

27:57 Lou Colas, in the city-states of Italy during the days of Mardisi, for a while in France and in the United States. At this time, Dillon believed that a major economic depression was on the way and that ensuing political crisis would signal the end of an era. The U.S. financial elite had great influence on U.S. foreign affairs.

28:22 This manifested itself in the Foreign Service, where many of these bankers ended up. Nitt's own career was to demonstrate this, that there was a revolving door between international service for major banks, law firms, and positions in the U.S. State Department. Allen Dulles remained in the Foreign Service while his brother returned to Solomon and Cromwell. The top Foreign Service officers and investment bankers had often trained at the same

28:51 Prep schools and Ivy League universities, which is what Warhamster and I have been documenting over the last several months. They belong to the same social club and often shared similar preconceptions on issues ranging from social class, geopolitical and men's fashion. If a black slip, if a black slip through the net, he went to Liberia.

29:21 talking about people who were hired at the State Department. Women were sent to the jungles of South America. Jewish people could not be handled as crassly, but they were made to feel just as unwelcome as any black or woman and shut out of better assignments. Those who had the proper background, however, had a great time in this club. Not everyone in the Foreign Service actually trained at Groton and Harvard.

29:51 Of course, noted Supreme Court Justice Felix Frankfurter in his diary. But most of them did. They were well-born and gentrified. And he went on to say, I got to quote this because this is hilarious. Quote, who have not had the advantages of the so-called well-born, but wish they had them. They become more grotty.

30:21 meaning Groton, than the men who actually went to Groton in the State Department. So in other words, if they somehow made it to the State Department and had not had this prep going into it, they actually began acting more like they did than those who did. Robert Murphy, Loy Henderson, Joseph Grew, who shows up in every one of these stories, Hugh Gibson, George Kennan.

30:52 James Clement Dunn, Eldridge Durbrow, Ray Atherton, Arthur Bliss Lane, and a handful of others became the backbone of the Foreign Service, particularly in all aspects of the U.S.-European relationship. And that entire group then moves on and are the primary players.

31:23 in the immediate transition post-World War II to hating the Soviet Union and begins the Cold War. These self-perceived realists believe that the Soviet Union was the most dangerous long-term rival to the U.S. and that Germany and Central Europe should be integrated into some form of cordon against the Bolsheviks. Their analysis was rooted in what

31:53 Daniel Yergin has dubbed the Riga Axiom, a collection of strongly anti-Soviet political people that formed the U.S. Foreign Service during the 1920s at consulates in Riga, which is in Latvia, Berlin, and Warsaw. The Riga Group is spelled R-I-G-A.

32:18 analysis was to have an enduring impact in escalating hostilities between the U.S. and the Soviet Union later on. The Riga faction drew much of its most important support from the foreign policy elite outside the government. People like John Foster Dulles, who at that time was outside the government, was among Riga's most articulate spokesmen, and men like James Forrestal and Paul Nitz of Dylan Reed.

32:49 Charles Edward Wilson, and Philip Reed of General Electric, and much of the leadership of the integrated DuPont General Motors, U.S. rubber empire of that era, were among them too. More to the point here, however, the Riga Group's impact on U.S.-German relationships, particularly after Hitler comes to power, proved to be one of the most influential components of

33:22 they're being together. And it talks about during Roosevelt years, FDR's first ambassador to Moscow, William Bullitt, he had arrived in the Soviet Union full of enthusiasm for normalizing U.S.-Soviet relations, but he left soon after convinced that only Nazi Germany could stay the advance of the Soviet Bolshevikism into Europe. So they all kind of

33:52 coalesce into the Iron Curtain type of mantra. And they were basically willing to sacrifice anything to ensure that they were able to constitute this quote-unquote Iron Curtain. Meanwhile, there were roughly parallel developments among the German bankers and law firms that specialized in international trade and commerce.

34:20 For example, at the Berlin law firm of Albert and Westrick, Heinrich Albert was one of the most important German boosters of U.S. loans to Germany during the 1920s. He advanced to director of Ford Motors German subsidiary and other U.S. companies in Germany during Hitler's period. And after 1945, he became a custodian of the U.S. and British corporation properties in Berlin.

34:50 Albert had a close relationship with John Foster Dulles, working with him in a variety of projects for at least 30 years. In the immediate post-war period, Albert also played a pivotal role in the establishment of West Germany's post-war ruling party, the Christian Democrat Union. Albert's law partner, Gebhard Westrich, served as chairman or board member on half a dozen German subsidiaries.

35:19 to include ITT and Kodak. In addition to representing Texaco's interest in Central Europe and German industrial companies in the U.S., Gerhard Westrick's brother, Ludger, L-U-D-G-E-R, became a prominent banker and a director of several of the most powerful metal companies in the world.

35:44 Another example, Carl Lindman was director of Dresdner Bank and the HAPAG Shipping Combined. And simultaneously, he was chairman of HAPAG's competitor, I'm going to put that in air quotes, the North German Lloyd Steamship Company. He was also...

36:12 a director of the German American Petroleum AG, a wholly owned subsidiary of Standard Oil of New Jersey, and the principal source of fuel for Lindman's shipping company was Standard Oil. Lindman emerged as a leading supporter of Nazi Germany. The industrial and financial sectors of Germany economy during the 20s and 30s were tightly interlocked and controlled.

36:40 by a handful of powerful interests. German economic tradition had long encouraged industrial cartels, trusts, and similar organizations designed to dictate prices, exclude competitors from markets, and coordinate bids for political power. This resulted in a closely interwoven network of fewer than 300 men who were the senior managers and board directors of virtually

37:10 every large-scale enterprise in the country. Within this group, power was further concentrated into very large banks, insurance companies, and manufacturing. Something just happened to rumble. I don't know what. Okay, where was I? The general contours of this elite can be seen

37:48 where you have coordination points such as in German industry at the Deutsche Bank and the Dresdner Bank, which exercised influence and control over German industry to a degree unparalleled in modern banking in America. As a later U.S. government study put it, they exerted power over interlocking directorships, control of voting rights to large blocks of company stock.

38:17 authority over financing and credits necessary for the day-to-day business, and the bank service as a go-between among the German state and private enterprises. The U.S. government calculated shortly after World War II that the Deutsche Bank Board of Directors and Senior Management sat on the boards of over 523 other German companies. Deutsche Bank was sitting on the boards.

38:48 of the companies that they were loaning money to. And this pattern has been true since the 1920s. Deutsche Bank had no fewer than three joint directors with Alliance Insurance Group, the largest insurance company in the world, six joint directors with Mercedes-Benz, then Daimler-Benz, four with Daimler's ostensible competitor, BMW, five...

39:16 with a steel combine, four with the electrical giant AEG, three with coal and steel specialist Hoegs, H-O-E-S-C-H, six with one of German's largest armament manufacturers, D-E-M-A-G, and no fewer than eight with the Simmons Group of Companies, which had dominated German electrical engineering and communication.

39:47 for generations. Indeed, Deutsche Bank, Mansmann, and Simmons can fairly be said to have grown up as a single economic unit. Germany's second largest bank, Dresdner Bank, was also allied with key businesses in the 20s and 30s, including Krupp Empire and still magnate Friedrich Flick's group. In later years,

40:16 Drezner bankrolled the SS concentration camp system and the government-sponsored Hermann-Goring work, which served as a vast holding company for dozens of mining, steel, and armament companies that were seized by the Nazis. The Krupps had used the Drezner as a virtual in-house bank since the end of the 19th century.

40:43 in much the same manner that Simmons' interest had been dominated by Deutsche Bank. These two major German financial institutions had long competed for business and political influence. At the same time, they cooperated in dealing with business trusts that were simply too big to fit under any one bank umbrella, such as the chemical combine of IG Farben and the United Steelworks.

41:12 Obviously, there were other prominent German and American financial leaders in addition to those mentioned here. But this brief list is characteristic. They were, first of all, a relatively small group, even within the closed world of U.S.-German law and banking. They specialized in foreign affairs and have had a substantial influence on U.S.-German relations on both continents and how they conducted their foreign affairs.

41:42 emerging at the core of a foreign policy establishment active in groups such as the Council on Foreign Relations. They build relationships that last over 30 years. They often shared similar convictions on issues, class, business and important U.S. and German economic ties. This doesn't necessarily mean that they had a common point of view concerning Hitler.

42:11 even before or after the Nazis came to power. Contrary to popular myths concerning the Dulles brothers, for example, Alan Dulles was a relatively early advocate of backing for the British in their showdown with Germany, while John Foster Dulles remained considerably more tolerant of Nazism. Others that were prominent Jewish people who were destined to be

42:40 dispossessed of their assets, such as Eric Warburg, was first forced to sell off most of his German property in the early 1930s, but he returned for the reconstruction in 1945. Some members of the elite did become creatures of Hitler, however, such as Dresdner Bank's Carl Lindman, who was characterized as a rabid Nazi by one of the bank's senior executives.

43:10 The cemented bond between these groups involved trade, but they didn't necessarily see eye to eye on all aspects of politics. Despite pious comments to the press, a dozen major corporations proved to be enthusiastic partners in trading with the Nazis. Even Alan Dulles, who was among the more vocal on Wall Street in warning that

43:41 German military adventures could come to no good, he found himself caught up in this contradiction. It goes on to say that captured German records show that United Fruit Company, where Dulles maintained a long and active directorship, so this is Alan Dulles, became an international pace setter in devising ways to expand trade with Germany despite obstacles from the US and UK government.

44:14 Similarly, while publicly advocating U.S. economics backing the British on the eve of the war, Dulles was privately representing German corporate clients in their efforts to buy out American Potash and Chemical Corporation, an important potential source of chemicals and foreign currency for the upcoming war. Despite their differences, these

44:41 reference groups and linkage groups as they became known, shared common convictions that were to them more fundamental than politics. The key role of U.S. and German productive capacity and markets within the effort measured against these more basic values. The Nazis and their whole brutal apparatus were seen by much of the elite as a transitory event. From the standpoint of corporate

45:12 ideology, the elite saw itself as a new generation of managerial revolution. They viewed themselves as forward thinking that was not going to be encumbered by the passing of Hitler. The Nazis' advent to power presented both opportunity and risk for their network. Hitler delivered on his promises of large-scale government backing for rearmament,

45:40 road-building industrial development projects like IG Farben's massive synthetic gasoline refineries. Hitler also guaranteed stability of sorts for business in the face of gathering resistance of the German communist and labor unions. On the other hand, big banks and cartels, including IG Farben, had been the target of Nazi propaganda and agitation.

46:09 as Hitler advocated a major role for the nationalist socialist state in coordinating with German economy. Much of the industrial and financial elite supported Hitler's economic strategy. They welcomed public works projects, particularly during the Great Depression, but they saw Hitler's more utopian vision of German socialism under Nazi leadership as a challenge.

46:37 The role of German business community during the rise of Hitler has been argued at length elsewhere, but more important to this discussion are the activities of the U.S. and German business elite during the Hitler years and particularly during the Holocaust. The Nazis often persecuted Jewish people during the 1930s through economic measures. They relied heavily on German banks and businesses for this success.

47:07 of their anti-Semitic, anti-communist, and anti-union programs crucial to the stabilization of Hitler's state. For the most part, Nazis were not disappointed. The Gestapo terror was always a key aspect of Nazi activities. The police measures took on terrible importance as the extermination phase of the Holocaust grew near. The Gestapo

47:39 Germany's private sector served as the main instrument of persecution through economic boycotts, dismissal of Jewish people from their professions, the Aryanization of Jewish property, and the discrimination against Jews in wages, price, and access to goods. Later German industry often led the way in exploitation of concentration camp labor.

48:04 systematic rape of occupied countries. By the end of the war, virtually all Americans, most important German trading partners from the 30s, would have blood under their fingernails. So that's the end of that chapter. The next chapter goes on to talk about the prophets.

48:30 Of the persecution. And it goes into some more detail. But we'll leave off from there. Because I'm going to have to sign off. At about 530 today. Because it's Wednesday. So. What's your show this evening. With Warhead. Sorry. Too many people. Too many things. Interestingly enough. It dovetails off of this. I am going to make the argument. That.

49:02 The WEF is the face. You know, everybody focuses on the shiny object. The real power behind the WEF is a large section of organizations, and I'll wait till the show to tell you which ones, but I'm specifically going to concentrate.

49:30 on the German connection to the United States of what goes on behind the scenes and expose the real powerhouse. And it is not the WEF. It is a network that was created that operates behind the WEF. And weirdly enough, it looks exactly like the WEF. The WEF is this entity that they have put out to take all of the air.

50:00 so that you don't see what is actually going on behind the scenes. Before I take any other hands, Warhamster, I'd like to hear your take on that, on what we just talked about. Well, I've been laughing for about an hour. That might be one of the best chapters I have ever read or heard in my entire life for just summing up all the connections. I counted.

50:30 seven different members of Skull and Bones that were mentioned or alluded to, a lot of which, I mean, Brown Brothers Harriman, you name it, Draper and stuff like that. But I'll share a fun observation with you. So we talk about the Dawes plan, and my two favorite, I guess, targets that I like to talk about are, of course, Sullivan and Cromwell, which Ron will tell you I've been beating the drum on forever, and obviously Skull and Bones. But you notice that

51:00 those two organizations had their fingerprints all over post-World War I reparations. But also, if you go to the Morgenthau Plan, which was post-World War II, right prior to the Marshall Plan, the biggest opponents of the Morgenthau Plan was one William Henry Draper III. And, yeah, yeah. And I'm sorry, one Henry Stimson. Also, both of which are Skull and Bones alumni. So I ask you,

51:32 Is it just a coincidence that this small little group of people from the same darn secret society are the ones who were the architects of the entire 20th century? No. And that's why I think it's funny that, not in a hilarious way, but in an irony way, that as we're going through the series of Skull and Bones, and I continue to read.

52:02 About this same apparatus, they just always come up. And that's why when I read I read this book a couple of weeks ago and the whole time I'm like, oh, my God, I can't wait to tell Warhamster. Oh, my God, I can't wait to tell Warhamster. So I'm just glad you showed up today of all days. It's God's plan, obviously, that it pulls together.

52:28 and illustrates both what we're doing over there and what I'm doing over here. Yeah, well, long ago, I think we decided we don't believe in coincidences. Correct. And me showing up today was definitely not a coincidence. You know, I can't wait. You know, I really, really want to do this. When we get to the book, The Old Boys, I want to co-read that. Yeah. Because it's got the same topic you just covered. It's got so many more nuggets and a few more connections.

52:58 And that name in the book, everyone, is The Old Boys. It's one I suggested to the colonel to read more than a year ago. And it just absolutely talks about the early days of the Treaty of Versailles, the early days of the Dulles brothers. And I think Mr. Partain, Ron Partain, put out a really good short thread on Sullivan and Cromwell just the other day. And, Ron, you probably ought to link that to everyone because I enjoyed reading it. Everything he's put down there is very accurate.

53:27 But no, the coincidences are amazing. Yeah. All right. SR-71, go. Thank you, Colonel. And I want to thank everybody for attending and all those on Rumble for being patient. It just, here's what really gets me. When you're talking about this and we're listening to what's going on and you get all this information about what happened in World War I, World War II comes along and they got a hoodwink again.

54:01 You would think that after World War I, they would know better. But I don't think they were hoodwinked, SR-71. I think this is the plan. It's the analogy that if you believe that the CIA bumbles through all of these different things that they quote unquote screw up or that they miss or all of that stuff.

54:30 You find out if you zoom out that their quote unquote misses are part of the plan. They weren't actual misses. Their bungling isn't part of a, you know, oh, look at me. I screwed this up again kind of thing. They're all done on purpose. And they use war.

54:54 to exploit resources and reshuffle decks and take over the entire industries from others. And it's done in a way where the war basically hides what they've done. I mean by hoodwink, Colonel, what I mean by hoodwink is the populace. The entire population of Germany wound up being involved in World War I.

55:27 And they got bit again with World War Two. Yeah. And after World War One, the population would have said, no, no more of this. But they're lied to. I mean, the entire propaganda machine lies to them and manipulates them. And that's where the people like Bernays and all of those people that study psychology, they know exactly how to manipulate people. You see it today. You see it happening right now.

55:55 where military people are egging on what we know to be absolute bullshit, which is why I can't keep throwing up the flag. Whose Intel are you using that whole thing with Yemen? They're the same people who say they're awake. Don't realize that the UAE had basically overtook.

56:22 Yemen, and they have been pressuring them from the south, including with Israel to set up weapons and spying on them. And you've got Saudi Arabia in the north squishing them down. And those people just want to be left alone. But you have the people over here in the quote unquote MAGA movement advocating for droning all of those people.

56:51 They just showed a highlight yesterday, and I'm like, wait a minute. You guys are throwing a party that we just killed a bunch of people. Whose effing intel are you using to even know that they're terrorists? You don't know. Stop it. But, yeah, it drives me nuts. Southern, go ahead. The Dulles brothers have intrigued me, so I did a genealogy report on them.

57:24 Good God. They're all inbred. Yes, they are. Oh, my God. It's unbelievable. And also in the ministry, in the Presbyterian ministry as well. Yes. As missionary and other things they accomplished over there. It's like they were bred. But you find that in the Rockefeller family, too. Oh, my gosh, yeah.

57:48 I mean, the Rockefellers worked it out that anybody we were trying to do trade with in another country, Rockefeller had both players to manage it. And the banking industry, when I helped out in the PPP area under COVID, I found out how incestuous these relationships are in banking and, more importantly, how dirty they are.

58:14 Really dirty. Yep. Really dirty. Oh, my God. Yeah. But World Economic Forum, when I first heard about it, it freaked me out. But once I tore it apart, it is like a marketing arm to play with the cool boys. You come in because you're a big CEO of a company. We're going to make you look like a big guy. And then they're bringing all these other people in to, in a sense, try to sell policy, like climate change and all this mess.

58:43 World Economic Forum.

58:47 There is no meat there. It is a marketing arm. Elon Musk said it best. Yeah, I went. Boring, nothing going on, just egos clashing, and everybody had a different color band on their wrists so they could go into, you couldn't just go anywhere. You were like in a maze where you could go and couldn't go. So you were like in a caste system, like in India. You could only go to this level for stuff, up and up and up. So everybody was competing to get to the top.

59:16 We're playing with children and their egos. And I love Trump. First time he went, hey, I'm here for America. I'm a nationalist. Yeah, this global stuff. Yeah, I'm not interested, period. And they knew what they had with him. And as I dig into all these families.

59:35 It's not – they had to go far. The thing that they're doing now is what's terrifying me. They want to bring all this crap they've done at the university level into our public schools and start training children at a much, much younger age with all this ideology and a way to manipulate them as they grow up. Yeah, it's already been done. Yeah, now it's in the system, and everybody thinks, oh, we closed down the Department of Education.

1:00:04 Most of the Department of Education did was sign contracts with vendors who sold programs into the school system. So if anybody's got kids in school, in a public school, you have to get in there with the school board and get those programs out. It's not done at the federal level. You have to get it done at the local level. And I'll land my point. Ron, go ahead. Okay. So I wanted to say, you know, prior to World War I.

1:00:33 The general sentiment in the United States was very pro-German. And you have to understand that the United States, very few people are aware that Germany made up, prior to 1920, Germany made up the majority of the immigrants into this country. And the German influence on business.

1:00:59 And banking and commerce in general, I mean, Jacob Schiff, Paul Warburg, Felix Warburg, Solomon Loeb, Kahn, Bush, Anheuser-Busch, Charles Pfizer, George Westinghouse. I mean, these are all guys that came from Germany. And the bulk of the attitude towards World War I, because people didn't trust.

1:01:25 the British. You know, the Americans, they didn't trust the British. And if you want, anybody needs me to, is doubting me on this, go listen to the Benjamin Friedman speech that he gave at the Willard Hotel in 1961. It's available online. You can hear him talk about it. He was actually on Woodrow Wilson's cabinet and was at the Treaty of Versailles. That's some fantastic history if you want to listen to it. But, you know, going back to what you talked about,

1:01:55 They used an enormous amount of propaganda to convert American sentiment away from Germans. And it was right during that time when you had a lot of Germans who changed their name from Schmidt to Smith or whatever because they wanted to distance themselves from Germany. But that all happened right about that period of time in history. Yep. Good points. Miles, go ahead. Colonel, this series is so helpful.

1:02:25 for the, you know, average person that doesn't study a lot to actually expose their playbook. And now that we watch, you know, what's happening around us, immediately today I was like, oh, well, wait a minute. There's these ConInc NGOs that are saying they're part of our government, but they're not.

1:02:51 And then when I see who the names are on these boards, I went, wait a minute. I know who you are. You're with the Aspen Group. So they tell you that, oh, yeah, this new big, wonderful bill that Trump wants. Yeah, it's not that good. You know, this is kind of going after him. But then on the same token, today we found out that no tax on tips.

1:03:20 Well, that got passed by 100 percent in the Senate. It's like, what? So thank you, Colonel, for opening our eyes. And so we can recognize this stuff like immediately and know the names.

1:03:34 Yeah, that's probably the most important part. And that's obviously, you guys have heard my rant of other people that won't name the international syndicates. That's the thing that we bring. We actually bring the truth of all of them. And I want everybody to know. You know, one of the things that I found the most fascinating about this is how this entire thing was set up. Because if you listen closely to...

1:04:03 this area about where they talked about how they, prior to the actual World War II occurring, you know, 10 years before that, they start taking people's property. And then they have all of these

1:04:26 large corporations that have been opened up to US businesses to form these strategic partnerships. If I was to take that model that we just talked about here, you can go to Chile, you can go to Nicaragua, you can go to any of those countries, and you're going to be able to see on a

1:04:54 It's almost as if this is setting the prototype to see what they can get away with. The violence, the disappearing of people, the experimenting on people, the torture of people, the working them to death. How is that any different than the U.S. sending the CIA into Nigeria?

1:05:20 or the Congo or any other place in the aftermath of all of this, because there's a model being used where you destabilize the population using propaganda. You start developing an elite within those countries. And in Germany's case, the elite was already there.

1:05:50 It's almost as if they were building a prototype of how to do these operations and then exploit the aftermath, which of course is what happened, especially in the intervening war years between World War I and World War II with all of these joint endeavors that the Dulles brothers, because you're going to find the Dulles brothers being involved in United Fruit.

1:06:18 and their exploitation of Latin America. They were the legal impetus behind, and of course, Allen goes on to actually be the destabilization agent of many of the operations in Africa. And then you can move on to Asia and you're going to see the same thing. It's almost like they were developing a model. So it's crazy.

1:06:54 Ron, go ahead. So, you know...

1:06:58 I don't know if Mike Benz is a friend of this discussion group or not, but I was listening to an interview that he did with Tucker Carlson a couple months ago, and he said something that really struck me. And I just kind of want to read just a clip of this. I looked it up. He basically said that there's no such thing as domestic policy, emphasizing the interconnectedness of domestic and foreign affairs. And he argued that domestic policies are...

1:07:28 often influenced by foreign policy objectives and vice versa, suggesting that the actions taken within the United States can have international ramifications and that foreign policy decisions can significantly impact domestic affairs. And, you know, I felt when he said that, it kind of was like a light bulb went off.

1:07:47 And what you talked about in terms of how they push and push and push and see what they can get away with and see what they can get away with and see what they can get away with, I think that there's a tremendous amount of merit to that. And I think what they've used is just a modern-day bread and circuses.

1:08:05 with the music industry and the entertainment industry and the sports industry and all these things where they literally distracted us from all the things that are truly of import or meaningful to our liberty and whatnot. Anyway, I know I'm probably preaching to the choir, but you said that, and I just wanted to add to that.

1:08:30 My only beef with Mike Benz is his use of the term and the fact that he blocked me. But the use of the term blob to me, he's a gatekeeper. He will not name the people that are responsible for where we're at. And I have a huge problem with that. I do, too. So as far as domestic and foreign policy there.

1:08:56 There literally is no difference. The moment we decided that we were going to get into being an imperial power and we're going to confiscate Hawaii and we're going to confiscate the Philippines and everything else, all based in Hawaii's case around our domestic sugar.

1:09:23 commodity. And that's what drove the entire Hawaii. And then, of course, it turns into military stationing of assets there and blah, blah, blah. So you took a domestic policy of how we were going to put tariffs on sugar and it transitioned into an imperial act.

1:09:50 of taking over Hawaii for military, there's no difference at all. And when you transition into international corporations, which fund the electoral process in the United States, they are going to manipulate domestic policy, i.e. elections and markets here to either

1:10:17 Make us experience the most pain like the banking failures in order to further their foreign markets. So there is literally no difference. There is nothing done. And that that to me is where Trump is so different than the rest of them. He believes that the.

1:10:43 The domestic policy ought to drive the foreign policy. They all believe the foreign policy drives the domestic policy. I agree with that. And I want to say something to be flattering to Warhamster because he actually made this comment quite some time ago, but it's so apropos, especially for today's conversation, that with the 1947 National Security Act, which created the CIA, basically what that did,

1:11:13 was it essentially gave government sanction to all the things that these high-priced law firms were doing with major international corporations. And so, you know, Warhamster is the one who brought that to my attention, and I just want to give kudos to him. I know I've said that before, but, you know, that was one of those kind of another light bulb moment. Right. And I don't know if you've noticed.

1:11:39 If you saw the show that I did with Alpha, I actually drew a diagram that kind of depicts that exact same thing, because that's exactly what you notice. If you go back to the Fabian Society and the people that were involved in that, they were the, in large part, part of those groups that were.

1:12:08 behind imperialism. And so they had to pay out of their pocket as a company doing business on behalf of the crown for their own intel and military, their paramilitary people that went in and got the resources they wanted and allowed them to plant a flag.

1:12:35 The only difference in that model, in the model that we're at today, is the transition post-World War II with them offshoring from their balance sheets or income statement, their expenses of the military and intelligence piece of that onto the American population. So they were able to

1:13:04 pass legislation that put under the public dime a standing military and a standing intelligence function and move that expense off of their corporate documents. And that was the first time anything like that had ever done. So now they can reap more profit.

1:13:24 profits because we're the taxpayer are now paying for a standing military that's going to do their bidding. It does not protect the United States. And the CIA, who does their paramilitary function and intelligence function, it does not do it for us. But they got even more clever about the 1980s. And in the 1990s, it went full scale where.

1:13:52 Those private entities, the public entities, the military and the CIA, began contracting out to private companies their job. So now you have the military paying Blackwater and its successor, and you have the CIA.

1:14:16 paying private intelligence. And I mapped a private intelligence organization that goes right back to Lockheed and all of the big oligarchs. So they've now got the best of both worlds. They're not paying because those contracts are still taxpayer dollars, but they are now profiting from our paying for military

1:14:44 Because they own the private companies that are now providing it for the Department of Defense, and they own the private companies that are doing it for the intelligence. So they are making bank off of our tax dollars and our dead bodies on foreign battlefields to add money. So they offloaded their expense, and they figured out a way to profit from offloading their expense onto us.

1:15:13 Yeah. Colonel, can I jump in? Sure. Just one little elaboration. The first American war of expansionism or empire was the Mexican-American War and also what they call the Civil War. And I bring this up because.

1:15:30 The people who sponsored the minority Republican Party in 1860 are the same industrialists who became the Robert Barons, whose descendants are the ones who gave us this intelligence agency. It all came from the Eastern Seaboard industrialists. These are the Blue Blood families. They created the empire. It was in the middle. It happened well before 1898, a good 40 or 50 years. And the exact same pattern happened.

1:15:56 Down to the war profiteers you're mentioning right now, because we've talked about people that were selling medals to the Union Army and everything like that, making a ton of money. And these people would grow to become the Carnegies and the robber barons and the richest people in the history of mankind. It goes back a while. Yes, it does. You're absolutely right.

1:16:20 I just traced it back to them and I began seeing a pattern. And then when you and I started talking, you know, obviously that's not where it started. It's just as far back as I went and noticed that same pattern. So, yeah, we need to talk one of these days about McKinley and how he became president, because there's some interesting connections and they actually tie into the Rockefellers through Ohio.

1:16:48 It's a fun story, but we will maybe bring it up tomorrow or some other time. But the fact that McKinley was the president in 1898 is no small coincidence at all. And how did he die? He was poisoned. No, he was poisoned, I think, or shot. He was shot. He was assassinated.

1:17:09 Yeah, he was shot in Buffalo, New York, I believe. Yeah, but it would shock anybody to know that McKinley's financial backer happened to go to high school with Rockefeller. Hmm. Of course not. We'll leave that one alone. I'm going into detail later. And did you say he was shot in Buffalo? Nothing ever bad happens in Buffalo. Not actually where he was shot.

1:17:36 I lived in Buffalo for eight years where my husband is from. I moved from the South to Buffalo, New York. My friends thought I had lost my mind, but I loved it there. Everything happens in Buffalo. I know. I told my husband. And then we moved back South and he wears his Buffalo hat, went to UB for undergrad and grad school. We run into people like Buffalo, Buffalo, Buffalo. And I'm like, ah, they're everywhere.

1:18:04 But Buffalo, the infrastructure of Buffalo.

1:18:07 In the beginning, they built an amazing city and the stuff they did there is pretty amazing. It's like living in New York City without the crime and cost. I talk about that all the time because I went to Buffalo two years ago. I saw that train station. The train station is grander than Grand Central Station in D.C. It is an amazing city. The architecture there, what's left of it is amazing.

1:18:36 My fascination with Buffalo began when I found out while Bill Donovan is from there and married into the richest family that owned like 50% of the square footage in Buffalo proper, he was so rich. And that was like just the Rumsey family is who he married into. And that just was amazing to me. But where McKinley was shot.

1:19:06 The actual home has turned into a restaurant and they do a teddy bear tea for young moms to bring their firstborns or their babies in. And I actually took my firstborn there because I and I got the history lesson why he played with tea and a teddy bear. So it was kind of fun. Cool. Isn't Buffalo, New York right there close to where the it's part of the.

1:19:33 It's where the St. Lawrence Seaway connects with the Great Lakes. Yes. And, I mean, it's a very important port area for, you know, for industry. Yes. The steel industry obviously was a big part, and that's dead now. It's like the Rust Belt with, you know, Pennsylvania across. If you go to Buffalo now, it's so depressing.

1:20:00 Yeah, it's sad now. It really is. And part of it I blame on the unions. It's built this mentality. What are you doing for me instead of what can value? I can provide a company.

1:20:11 So I found that very energy-sucking, that kind of mentality, because I live in a how-can-I-create-value kind of world, and they don't think that way, and I blame the union. I would be remiss if I didn't point out that McKinley's VP for a second term was none other than Theodore Roosevelt. We've talked about the Roosevelt family at all these grooming schools, and Roosevelt's VP was none other than Skull and Bonesman, William Howard Taft.

1:20:41 So there you have it. There's your mic drop moment and right in time. Cause I do need to close up shop here. Um, but yeah, um, another amazing show with amazing people. So, um, yeah, we will start on chapter five, um, where we will talk about the prophets of persecution. Um, just real quick.

1:21:10 Colonel and Warhamster, what time is your show tomorrow? Noon. How do I find it? Is it on Rumble? It's on my Rumble channel. Okay. Okay. Okay. I'm sorry. What time is it? I have to write it down. Noon. Eastern time. Yep. Okay. Thank you. You're welcome. All right, guys. Thanks, everybody, for being here. I appreciate it. Sorry, my wonderful picture is not over there on Rumble. I don't know what happened.

1:21:36 The sound has been working, just not the video just froze up. Yeah, I don't know why that is, but whatever. And nobody got dropped today. And nobody got dropped. I did get booted out in the first five seconds of me opening the space. But other than that, we're good. All right. So take care, everybody. Appreciate y'all being here.

1:21:59 I will be on Alpha's show tonight at 9.30, and Warhamster and I will be on our normal show, Secret Societies, tomorrow at noon, and I'll be back here at 4. Thanks for being here. Take care.

Entities here

West Germany38 United States25 Allen Dulles23 World War II18 Deutsche Bank7 France7 Dillon, Read & Co.7 Adolf Hitler7 U.S. State Department6 Sullivan & Cromwell6 IG Farben6 United Kingdom5 U.S. Forest Service5 Brown Brothers Harriman5 Dresdner Bank5 Italy4 Rockefeller4 Paul Nitze4 Paris4 General Electric4 World Economic Forum4 Lee Higginson & Co.4 General Motors4 Riga Group3 J.P. Morgan3 Carl Lindman3 Siemens3 Standard Oil3 Poland3 Groton School3 Dawes Plan3 Ford Motor Company3 Soviet Union3 Skull and Bones3 Krupp3 Kuhn, Loeb & Co.3 J.P. Morgan & Co.3 C.D. Jackson3 Friedrich Flick3 Texaco2

Claims made here

Allen Dulles member_of U.S. State Department book_quoted ▶ 3:40

“said U.S. negotiator Norman Davis, to put it into rebuilding private enterprise economy in the wake of the war. John Foster Dulles arrived at the Paris Peace Conference as a junior legal counsel to th…”

J.P. Morgan appointed Allen Dulles book_quoted ▶ 9:19

“John Foster Dulles had meanwhile returned to the law firm of Sullivan and Cromwell, where he was a full partner specializing in all the legal aspects of German reparations and in international finance…”

Allen Dulles member_of Dawes Committee book_quoted ▶ 9:19

Allen Dulles member_of Sullivan & Cromwell book_quoted ▶ 9:19

Allen Dulles funded West Germany book_quoted ▶ 9:44

“which the U.S. and British banks had helped establish in hopes of finding a way out of the reparation debacle. Dulles helped engineer a scheme under which the U.S. and foreign banks made new loans to …”

Reichsbank financed_via West Germany book_quoted ▶ 9:44

General Motors funded Adam Opel Corporation book_quoted ▶ 12:49

“There was considerable direct U.S. investment in German companies as U.S. companies sought to buy into European markets at bargain prices. Our favorite company, ITT, purchased a half dozen German tele…”

Ford Motor Company funded West Germany book_quoted ▶ 13:19

“Fitz Opel joined GM's board of directors as part of the deal. Ford Motor Company built a vast factory in Cologne, then used it to manufacture cars for all of Central and Eastern Europe. There were als…”

Standard Oil funded IG Farben book_quoted ▶ 13:19

Dillon, Read & Co. funded Friedrich Flick book_quoted ▶ 14:47

“one of Warhamster and I's favorite, private U.S. investment bankers specialized in loans to Deutsche Bank, Simmons, and Flick. Between 1925 and the stock market crash of 1929, these loans amounted to …”

Dillon, Read & Co. funded West Germany book_quoted ▶ 14:47

William Draper member_of Dillon, Read & Co. book_quoted ▶ 18:52

“And that's why Angleton spent a lot of time in Italy before he joined the OSS and then the CIA, because his dad was spying and providing information to the State Department based on his franchise in I…”

James Jesus Angleton spied_on Italy book_quoted ▶ 18:52

James Forrestal member_of Dillon, Read & Co. book_quoted ▶ 18:52

Paul Nitze member_of Dillon, Read & Co. book_quoted ▶ 18:52

Ferdinand Eberstadt member_of Dillon, Read & Co. book_quoted ▶ 18:52

C.D. Jackson member_of Dillon, Read & Co. book_quoted ▶ 18:52

Averell Harriman headed Brown Brothers Harriman book_quoted ▶ 19:52

“later vice chair of the War Production Board and a central figure in creating the CIA, and C. Douglas Dillon, U.S. diplomat and later Secretary of the Treasury. Another Wall Street firm that specializ…”

Sullivan & Cromwell funded West Germany book_quoted ▶ 20:21

“Harriman went on to become one of the most influential figures in U.S. foreign affairs over the next 50 years. His key political ally also served as senior executives of banks, including Robert Lovett…”

Allen Dulles funded Poland book_quoted ▶ 23:41

“However, Dulles fully emphasized projects for Germany, for the military junta of Poland, and for Mussolini's fascist state in Italy. The U.S. State Department documents assembled by Prussian provide s…”

Allen Dulles funded Italy book_quoted ▶ 23:41

Paul Nitze member_of Riga Group book_quoted ▶ 32:18

“analysis was to have an enduring impact in escalating hostilities between the U.S. and the Soviet Union later on. The Riga faction drew much of its most important support from the foreign policy elite…”

Allen Dulles member_of Riga Group book_quoted ▶ 32:18

James Forrestal member_of Riga Group book_quoted ▶ 32:18

Charles E. Wilson member_of General Electric host_asserted ▶ 32:49

“Charles Edward Wilson, and Philip Reed of General Electric, and much of the leadership of the integrated DuPont General Motors, U.S. rubber empire of that era, were among them too. More to the point h…”

Philip Reed member_of General Electric host_asserted ▶ 32:49

Riga Group funded West Germany host_asserted ▶ 32:49

William Bullitt spied_on Soviet Union host_asserted ▶ 33:22

“they're being together. And it talks about during Roosevelt years, FDR's first ambassador to Moscow, William Bullitt, he had arrived in the Soviet Union full of enthusiasm for normalizing U.S.-Soviet …”

William Bullitt appointed Soviet Union host_asserted ▶ 33:22

Heinrich Albert member_of Ford Motor Company host_asserted ▶ 34:20

“For example, at the Berlin law firm of Albert and Westrick, Heinrich Albert was one of the most important German boosters of U.S. loans to Germany during the 1920s. He advanced to director of Ford Mot…”

Heinrich Albert member_of Albert and Westrick host_asserted ▶ 34:20

Gebhard Westrich member_of Kodak host_asserted ▶ 34:50

“Albert had a close relationship with John Foster Dulles, working with him in a variety of projects for at least 30 years. In the immediate post-war period, Albert also played a pivotal role in the est…”

Heinrich Albert member_of Christian Democratic Union host_asserted ▶ 34:50

Heinrich Albert member_of Allen Dulles host_asserted ▶ 34:50

Gebhard Westrich member_of Texaco host_asserted ▶ 35:19

“to include ITT and Kodak. In addition to representing Texaco's interest in Central Europe and German industrial companies in the U.S., Gerhard Westrick's brother, Ludger, L-U-D-G-E-R, became a promine…”

Carl Lindman member_of North German Lloyd host_asserted ▶ 35:44

“Another example, Carl Lindman was director of Dresdner Bank and the HAPAG Shipping Combined. And simultaneously, he was chairman of HAPAG's competitor, I'm going to put that in air quotes, the North G…”

Carl Lindman member_of Dresdner Bank host_asserted ▶ 35:44

Carl Lindman member_of HAPAG host_asserted ▶ 35:44

German American Petroleum AG secretly_owned Standard Oil host_asserted ▶ 36:12

“a director of the German American Petroleum AG, a wholly owned subsidiary of Standard Oil of New Jersey, and the principal source of fuel for Lindman's shipping company was Standard Oil. Lindman emerg…”

Carl Lindman member_of German American Petroleum AG host_asserted ▶ 36:12

Carl Lindman member_of West Germany host_asserted ▶ 36:12

Deutsche Bank member_of Alliance Insurance Group host_asserted ▶ 38:48

“of the companies that they were loaning money to. And this pattern has been true since the 1920s. Deutsche Bank had no fewer than three joint directors with Alliance Insurance Group, the largest insur…”

Deutsche Bank member_of Daimler-Benz host_asserted ▶ 38:48

Deutsche Bank member_of Siemens host_asserted ▶ 39:16

“with a steel combine, four with the electrical giant AEG, three with coal and steel specialist Hoegs, H-O-E-S-C-H, six with one of German's largest armament manufacturers, D-E-M-A-G, and no fewer than…”

Deutsche Bank member_of DEMAG host_asserted ▶ 39:16

Deutsche Bank member_of Hoesch host_asserted ▶ 39:16

Krupp financed_via Dresdner Bank host_asserted ▶ 40:16

“Drezner bankrolled the SS concentration camp system and the government-sponsored Hermann-Goring work, which served as a vast holding company for dozens of mining, steel, and armament companies that we…”

Dresdner Bank funded Hermann Göring Works host_asserted ▶ 40:16

Allen Dulles member_of CFR host_asserted ▶ 41:42

“emerging at the core of a foreign policy establishment active in groups such as the Council on Foreign Relations. They build relationships that last over 30 years. They often shared similar conviction…”

Allen Dulles member_of United Fruit Company host_asserted ▶ 43:41

“German military adventures could come to no good, he found himself caught up in this contradiction. It goes on to say that captured German records show that United Fruit Company, where Dulles maintain…”

Allen Dulles traded_network_to West Germany host_asserted ▶ 43:41

Allen Dulles member_of American Potash and Chemical Corporation host_asserted ▶ 44:14

“Similarly, while publicly advocating U.S. economics backing the British on the eve of the war, Dulles was privately representing German corporate clients in their efforts to buy out American Potash an…”

Gestapo carried_out_attack Holocaust host_asserted ▶ 47:07

“of their anti-Semitic, anti-communist, and anti-union programs crucial to the stabilization of Hitler's state. For the most part, Nazis were not disappointed. The Gestapo terror was always a key aspec…”

Sullivan & Cromwell member_of Skull and Bones guest_asserted ▶ 50:30

“seven different members of Skull and Bones that were mentioned or alluded to, a lot of which, I mean, Brown Brothers Harriman, you name it, Draper and stuff like that. But I'll share a fun observation…”

Brown Brothers Harriman member_of Skull and Bones guest_asserted ▶ 50:30

William Draper member_of Skull and Bones guest_asserted ▶ 51:00

“those two organizations had their fingerprints all over post-World War I reparations. But also, if you go to the Morgenthau Plan, which was post-World War II, right prior to the Marshall Plan, the big…”

Henry Stimson member_of Skull and Bones guest_asserted ▶ 51:00

Benjamin Friedman member_of Woodrow Wilson guest_asserted ▶ 1:01:25

“the British. You know, the Americans, they didn't trust the British. And if you want, anybody needs me to, is doubting me on this, go listen to the Benjamin Friedman speech that he gave at the Willard…”