Difference between revisions of "The Money Trust"

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|constitutes=US Deep state
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|constitutes=Deep state faction
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|description=The US deep state of the late 19th and early 20th century. After taking control of the [[US dollar]] through the [[Federal Reserve Act]], they proceeded on an aggressive project of self-enrichment, leading ultimately to [[World War II]].
 
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|end=1939
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|headquarters=New York?
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|members=Nelson Aldrich, George Fisher Baker, Henry P. Davison, Edward House, J. P. Morgan, Charles D. Norton, Jacob Schiff, James Stillman,  Frank E. Peabody, William Rockefeller, Benjamin Strong, Frank Vanderlip, Felix Warburg, Paul Warburg
 
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'''The Money Trust''' (also called '''The Money Power''') was a cabal of [[bankers]] at the heart of the [[US Deep state]] around a century ago. Their control over the US government was evidenced by their capture of the immense profits stemming from control of the [[US dollar]]. This moved from public to private ownership in 1913 with the passing of the [[Federal Reserve Act]]. These allowed the group to further tighten their control over [[Wall St]] and the US economy, leading eventually to the [[great depression]] of the 1930s during which they staged a failed [[fascist]] [[coup]],  [[The Business Plot]]. Although successful at avoiding prosecution, this damaged their credibility as an effective state, and [[World War II]] was to shift the locus of power towards the [[Georgetown Set]] and its associated [[intelligence agencies]].
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==Deep state milieux==
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{{FA|Deep state milieux}}
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[[image:Corsair III.jpg|[[J. P. Morgan]]'s yacht, The ''Corsair III'' in Venice in 1902, venue of the elite [[Corsair Club]] dining club|thumbnail|left|330px]]
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The [[deep state milieux]] used by The Money Trust we more local and transient, less international than those use by modern [[deep state faction]]s, reflecting the restricted travel options available. [[Dining clubs]] were popular in the US. An important exception to their parochial nature was [[The Pilgrims Society]].
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===The Pilgrims Society===
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{{FA|The Pilgrims Society}}
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[[The Pilgrims Society]], begun in 1902 in UK, is a [[deep state milieu]] populated largely by [[financiers]]. On 13 January 1903 at the Waldorf Astoria Hotel in [[New York]], a US chapter was inaugurated, which continues to this day and has a reciprocal membership arrangement with the UK group.
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===Skull and Bones===
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{{FA|Skull and Bones}}
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[[image:Bones_logo.jpg|left|200px]]
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[[Skull and Bones]], a secret society at [[Yale University]] was important in the development of The Money Trust, as were others to a lesser extent. In the [[1880s]] the group set up the [[American Historical Association]] and the [[American Economic Association]] to help [[control the narrative]] and hide their influence.<ref>''[[America's Secret Establishment]]''</ref>
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===Sullivan & Cromwell===
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{{FA|Sullivan & Cromwell}}
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[[Sullivan & Cromwell]], the [[New York]] based law firm, did important work for The Money Trust, a relationship which went at least as far back as 1882 when they assisted [[J. P. Morgan]] in the establishment of [[Edison General Electric]] and in 1901 assisted in the formation of [[U.S. Steel]].<ref name="steel">"Giant Steel Trust Launched at Last: Will be Known as the United States Steel Corporation," The New York Times, February 26, 1901</ref>
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Cromwell developed the concept of a [[holding company]], which The Money Trust helped introduce into the law of the state of [[New Jersey]]. This was effective in reducing the effectiveness of [[antitrust laws]].<ref name="trust">[https://jasonweixelbaum.wordpress.com/2010/12/25/harnessing-the-growth-of-corporate-capitalism-sullivan-cromwell-and-its-influence-on-late-nineteenth-century-american-business/#_ftnref73 Harnessing the Growth of Corporate Capitalism: Sullivan & Cromwell and its influence on late Nineteenth-century American business,”] by Jason Weixelbaum; paper posted December 25, 2010</ref>
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==Activities==
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===1900s===
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[[image:1907_Cartoon_of_J._P._Morgan_seizing_control_of_banks.png|thumbnail|right|A 1907 cartoon of [[J. P. Morgan]] seizing control of banks|280px]]
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The activities of the Money Trust were focused not only on self-enrichment, but on securing their privilege by using control of the US government to implement legal protections. Often they were duplicitous in playing both sides and misrepresenting their purposes.
 +
 +
====Control of Woodrow Wilson====
 +
[[Edward Mandell House]] was [[Woodrow Wilson]]'s handler for The Money Trust. He was so close to Wilson that he lived at the [[White House]] for some time, and managed the [[US President]] on their behalf.
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====1907 Panic====
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{{FA|1907 Panic}}
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The Money Trust organised the [[1907 Panic]]. This strengthened their control over [[Wall St]] by enriching the trust's members, who had advance warning, and by impoverishing or bankrupting others, notably [[Frederick Heinze]] who was not member of the cabal.<ref>https://www.unwelcomeguests.net/750_-_Black_Is_The_New_White</ref>
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===1910s===
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====The Aldrich Plan====
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{{FA|The Aldrich Plan}}
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The Aldrich Plan aimed to wrest control over the production of money from the US government and place it under control of The Money Trust. It was defeated.
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====1913 Federal Reserve Act====
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{{FA|Federal Reserve Act}}
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After the failure of [[The Aldrich Plan]], the money trust arranged for the [[1910 Jekyll Island meeting]] to devise an alternative. This rebranded it as the [[Federal Reserve System]], which paid more attention to the ''appearance'' of federalisation, but was essentially similar. Some Money Trust members publicly opposed it, in order to hide this fact. The [[Federal Reserve Act]] was passed just before Christmas, 1913, when many [[US Senator|senators]] had already gone home for [[Christmas]]. This was a crucial step in the rise of The Money Trust, as it granted a high degree of control over the US economy, allowing for the creation of events such as [[The Great Depression]].
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=== 1920s ===
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==== The Great Depression ====
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{{FA|Great Depression}}
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The [[Great Depression]] was created by manipulation of the US money supply which post-1913 was under the control of The Trust. Inflation of money in circulation lead to the "[[roaring 20s]]", which ended abruptly in 1929 when the creation of currency was tightened.{{cn}} After a decade of financial hardship, [[WW2]] shook up the old order. Post WWII, the [[Georgetown Set]] set up the [[OPC]] and [[CIA]], peacetime replacements for the more ad hoc wartime intelligence agencies and institutionalisations of the [[Cold War]] [[permanent war mentality]].
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=== 1930s ===
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In the 1930s, [[fascism]] was on the rise in [[Europe]], an attractive development in the eyes of some leaders of large corporations and members of The Money Trust.
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==== The Business Plot ====
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{{FA|The Business Plot}}
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[[image:Business_Plot.jpg|left|340px]]
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In 1933 a bond trader, [[Gerald MacGuire]], approached General [[Smedley Butler]], to sound him out for a role as a potential figurehead for a military coup, to be carried out on grounds of [[FDR]]'s failing health. Butler, however,wanted no part of it, but successfully feigned interest in order to gathered evidence. He later presented to the [[McCormack-Dickstein Committee]].<ref name=ug229>http://www.unwelcomeguests.net/229</ref> Once alerted to the coup plan, FDR apparently cut a secret deal with the leaders: they would back his [[new deal]] and in return he halted the investigation and censored the names of the plot's leaders. The money trust used their considerable influence to try to erase the evidence which had emerged. As a result, the plot is relatively little known today, but the power of The Money Trust was greatly weakened.
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==== Sudden death of Bronson Cutting ====
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[[Bronson Cutting]] was a  [[US senator]] highly critical of The Money Trust and their sate sanctioned monopoly over credit creation. He published an article in the March 31, 1934 issue of ''Liberty magazine'' entitled "Is Private Banking Doomed?", answering in the affirmative.<ref>73rd Congress, 1st session, May 4?, 1935. US Congressional Record.</ref> He died in a [[plane crash]] on May 6, [[1935]], between Albuquerque and [[Washington, D.C]], as recorded by ''[[Time Magazine]]'' in an accident due to thick fog.<ref>http://content.time.com/time/magazine/article/0,9171,754759,00.html</ref>
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==Leadership==
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At least in terms of wealth, [[J. P. Morgan]] led The Money Trust, until his death in 1913, when quite possibly leadership passed into the hands of other members of his [[Corsair Club]].
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==Exposure==
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===Pujo Committee===
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{{FA|Pujo Committee}}
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The Money Trust was investigated in the US by the [[Pujo Committee]] from [[1912]] to [[1913]]. The report unanimously declared that a small [[cabal]] of financiers had gained consolidated control of numerous industries through the abuse of the public trust. The chair of the [[US/House/Committee on Banking and Currency|House Committee on Banking and Currency]], Representative [[Arsène Pujo]] convened a special committee to investigate a "money trust", the ''de facto'' monopoly of Morgan and [[New York]]'s other most powerful bankers. The committee issued a scathing report on the [[banking]] trade, and found that the officers of [[J.P. Morgan & Co.]] also sat on the boards of directors of 112 corporations with a market capitalization of $22.5 billion (the total capitalization of the [[New York Stock Exchange]] was then estimated at $26.5 billion).<ref>{{Harvnb|Bruner|Carr|2007|p=148}}</ref>
 
{{SMWDocs}}
 
{{SMWDocs}}
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==References==
 
==References==
 
{{reflist}}
 
{{reflist}}
−
{{Stub}}
 

Latest revision as of 17:28, 11 September 2023

Group.png The Money Trust  
(Deep state faction)Rdf-entity.pngRdf-icon.png
The Money Trust.jpg
Extinction1939
HeadquartersNew York?
Interest ofCharles August Lindbergh, Pujo Committee, Arsène Pujo
Founder ofUS/Federal Reserve
Membership• Nelson W. Aldrich 1841–1915.jpg Nelson Aldrich
• George Fisher Baker.jpg George Fisher Baker
•  Henry P. Davison
• Edward M. House in 1915.jpg Edward House
• J. P. Morgan.jpg J. P. Morgan
•  Charles D. Norton
• Jacob Schiff.jpg Jacob Schiff
•  James Stillman
•  Frank E. Peabody
•  William Rockefeller
•  Benjamin Strong
• Frank Vanderlip.png Frank Vanderlip
• 40px Felix Warburg
•  Paul Warburg
The US deep state of the late 19th and early 20th century. After taking control of the US dollar through the Federal Reserve Act, they proceeded on an aggressive project of self-enrichment, leading ultimately to World War II.

The Money Trust (also called The Money Power) was a cabal of bankers at the heart of the US Deep state around a century ago. Their control over the US government was evidenced by their capture of the immense profits stemming from control of the US dollar. This moved from public to private ownership in 1913 with the passing of the Federal Reserve Act. These allowed the group to further tighten their control over Wall St and the US economy, leading eventually to the great depression of the 1930s during which they staged a failed fascist coup, The Business Plot. Although successful at avoiding prosecution, this damaged their credibility as an effective state, and World War II was to shift the locus of power towards the Georgetown Set and its associated intelligence agencies.

Deep state milieux

Full article: Deep state milieux
J. P. Morgan's yacht, The Corsair III in Venice in 1902, venue of the elite Corsair Club dining club

The deep state milieux used by The Money Trust we more local and transient, less international than those use by modern deep state factions, reflecting the restricted travel options available. Dining clubs were popular in the US. An important exception to their parochial nature was The Pilgrims Society.

The Pilgrims Society

Full article: The Pilgrims Society

The Pilgrims Society, begun in 1902 in UK, is a deep state milieu populated largely by financiers. On 13 January 1903 at the Waldorf Astoria Hotel in New York, a US chapter was inaugurated, which continues to this day and has a reciprocal membership arrangement with the UK group.

Skull and Bones

Full article: Skull and Bones
Bones logo.jpg

Skull and Bones, a secret society at Yale University was important in the development of The Money Trust, as were others to a lesser extent. In the 1880s the group set up the American Historical Association and the American Economic Association to help control the narrative and hide their influence.[1]

Sullivan & Cromwell

Full article: Stub class article Sullivan & Cromwell

Sullivan & Cromwell, the New York based law firm, did important work for The Money Trust, a relationship which went at least as far back as 1882 when they assisted J. P. Morgan in the establishment of Edison General Electric and in 1901 assisted in the formation of U.S. Steel.[2]

Cromwell developed the concept of a holding company, which The Money Trust helped introduce into the law of the state of New Jersey. This was effective in reducing the effectiveness of antitrust laws.[3]

Activities

1900s

A 1907 cartoon of J. P. Morgan seizing control of banks

The activities of the Money Trust were focused not only on self-enrichment, but on securing their privilege by using control of the US government to implement legal protections. Often they were duplicitous in playing both sides and misrepresenting their purposes.

Control of Woodrow Wilson

Edward Mandell House was Woodrow Wilson's handler for The Money Trust. He was so close to Wilson that he lived at the White House for some time, and managed the US President on their behalf.

1907 Panic

Full article: 1907 Panic

The Money Trust organised the 1907 Panic. This strengthened their control over Wall St by enriching the trust's members, who had advance warning, and by impoverishing or bankrupting others, notably Frederick Heinze who was not member of the cabal.[4]

1910s

The Aldrich Plan

Full article: The Aldrich Plan

The Aldrich Plan aimed to wrest control over the production of money from the US government and place it under control of The Money Trust. It was defeated.

1913 Federal Reserve Act

Full article: Federal Reserve Act

After the failure of The Aldrich Plan, the money trust arranged for the 1910 Jekyll Island meeting to devise an alternative. This rebranded it as the Federal Reserve System, which paid more attention to the appearance of federalisation, but was essentially similar. Some Money Trust members publicly opposed it, in order to hide this fact. The Federal Reserve Act was passed just before Christmas, 1913, when many senators had already gone home for Christmas. This was a crucial step in the rise of The Money Trust, as it granted a high degree of control over the US economy, allowing for the creation of events such as The Great Depression.

1920s

The Great Depression

Full article: Stub class article Great Depression

The Great Depression was created by manipulation of the US money supply which post-1913 was under the control of The Trust. Inflation of money in circulation lead to the "roaring 20s", which ended abruptly in 1929 when the creation of currency was tightened.[citation needed] After a decade of financial hardship, WW2 shook up the old order. Post WWII, the Georgetown Set set up the OPC and CIA, peacetime replacements for the more ad hoc wartime intelligence agencies and institutionalisations of the Cold War permanent war mentality.

1930s

In the 1930s, fascism was on the rise in Europe, an attractive development in the eyes of some leaders of large corporations and members of The Money Trust.

The Business Plot

Full article: The Business Plot
Business Plot.jpg

In 1933 a bond trader, Gerald MacGuire, approached General Smedley Butler, to sound him out for a role as a potential figurehead for a military coup, to be carried out on grounds of FDR's failing health. Butler, however,wanted no part of it, but successfully feigned interest in order to gathered evidence. He later presented to the McCormack-Dickstein Committee.[5] Once alerted to the coup plan, FDR apparently cut a secret deal with the leaders: they would back his new deal and in return he halted the investigation and censored the names of the plot's leaders. The money trust used their considerable influence to try to erase the evidence which had emerged. As a result, the plot is relatively little known today, but the power of The Money Trust was greatly weakened.

Sudden death of Bronson Cutting

Bronson Cutting was a US senator highly critical of The Money Trust and their sate sanctioned monopoly over credit creation. He published an article in the March 31, 1934 issue of Liberty magazine entitled "Is Private Banking Doomed?", answering in the affirmative.[6] He died in a plane crash on May 6, 1935, between Albuquerque and Washington, D.C, as recorded by Time Magazine in an accident due to thick fog.[7]

Leadership

At least in terms of wealth, J. P. Morgan led The Money Trust, until his death in 1913, when quite possibly leadership passed into the hands of other members of his Corsair Club.

Exposure

Pujo Committee

Full article: Pujo Committee

The Money Trust was investigated in the US by the Pujo Committee from 1912 to 1913. The report unanimously declared that a small cabal of financiers had gained consolidated control of numerous industries through the abuse of the public trust. The chair of the House Committee on Banking and Currency, Representative Arsène Pujo convened a special committee to investigate a "money trust", the de facto monopoly of Morgan and New York's other most powerful bankers. The committee issued a scathing report on the banking trade, and found that the officers of J.P. Morgan & Co. also sat on the boards of directors of 112 corporations with a market capitalization of $22.5 billion (the total capitalization of the New York Stock Exchange was then estimated at $26.5 billion).[8]

 

Events carried out

EventDescription
1907 PanicJohn D. Rockefeller and J. P. Morgan conspired to remove opposition to control of the US money system by the money trust.
Federal Reserve ActThe 1913 law which secured operational control of the US dollar for the US Deep state up to the present day.

 

Related Quotations

PageQuoteAuthorDate
Louis McFadden“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it.

From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them … This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable.

The imperial power of elasticity of the public currency is wielded exclusively by the central corporations owned by the banks. This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. The 12 Corporations together cover and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these 12 private money trusts.'”		Louis McFadden1934
Woodrow Wilson/Deep state control“This Wall Street cabal, with the aid of New Jersey political bosses, pushed for Woodrow Wilson to become Governor of New Jersey in November, 1910.

Within a few months, Cleveland Dodge opened a bank account in New York and an office at 42 Broadway to boom Wilson into the Presidency. The campaign bank account was opened with a check for $1,000 from Cleveland Dodge. Dodge then provided funds to mail out the True American of Trenton, New Jersey to 40,000 subscribers throughout the United States, followed by a regular two pages a week of promotional material on Wilson For President.

Two-thirds of Wilson's campaign funds for the presidency came from just seven individuals, all Wall Streeters and linked to the very trusts Wilson was publicly denouncing.”		Antony Sutton

 

Known members

13 of the 14 of the members already have pages here:

MemberDescription
Nelson AldrichUS Deep state operative, member of The Money Trust, attended the 1910 Jekyll Island meeting
George Fisher BakerThe "Dean of American Banking", 3rd richest US citizen at his death
Henry DavisonUSDSO and banker who attended the 1910 Jekyll Island meeting
Edward Mandell HouseWoodrow Wilson’s handler
J. P. MorganUltra wealthy US deep politician whose The Money Trust ruthlessly dominated corporate finance and industrial consolidation there for decades.
Charles NortonUSDSO
Frank Peabody
William RockefellerCo-founded Standard Oil in 1870 with his more infamous brother, John D. Rockefeller.
Jacob Schiff
Benjamin StrongMember of The Money Trust, Governor of the Federal Reserve Bank of New York for the first 14 years of the Fed's existence
Frank VanderlipMember of The Money Trust
Felix WarburgSuper wealthy financier and deep politician.
Paul WarburgUS deep politician named in the report of the Pujo Committee. Brother of Max Warburg.

 

Events Planned

EventStartEndLocation(s)Description
Great Depression19291939USA huge impoverishment of the US citizens, resulting from market manipulations by The Money Trust
The Business Plot19331934A military takeover of the USA planned by The Money Trust. Never enacted due to the character of the man they ill advisedly chose to head it Smedley Butler, who foiled the plot and decreased the group's influence.

 

Related Document

TitleTypePublication dateAuthor(s)Description
File:The Federal Reserve conspiracy by Antony C Sutton.pdfbookAntony SuttonHistorical perspectives on the money trust including critique of Karl Marx
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References

  1. ↑ America's Secret Establishment
  2. ↑ "Giant Steel Trust Launched at Last: Will be Known as the United States Steel Corporation," The New York Times, February 26, 1901
  3. ↑ Harnessing the Growth of Corporate Capitalism: Sullivan & Cromwell and its influence on late Nineteenth-century American business,” by Jason Weixelbaum; paper posted December 25, 2010
  4. ↑ https://www.unwelcomeguests.net/750_-_Black_Is_The_New_White
  5. ↑ http://www.unwelcomeguests.net/229
  6. ↑ 73rd Congress, 1st session, May 4?, 1935. US Congressional Record.
  7. ↑ http://content.time.com/time/magazine/article/0,9171,754759,00.html
  8. ↑ Bruner & Carr 2007, p. 148
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