The Money Trust

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Group.png The Money Trust  
(US Deep state)Rdf-icon.png
The Money Trust.jpg
HeadquartersNew York?
Interest ofCharles August Lindbergh, Pujo Committee, Arsène Pujo, Antony Sutton
Membership• Nelson Aldrich
• George F. 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
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 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 and so to World War II.

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 deep states, 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.[citation needed]

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.[1]

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.[2]

Activities

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: Stub class 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.[3]

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 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.

The Business Plot

Full article: The Business Plot
Business Plot.jpg

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. In 1933, B 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 nopart of it, though he feigned interest and gathered evidence which he later presented to the McCormack-Dickstein Committee.[4] 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 senior leaders. As a result, the plot is relatively little known today, but the power of The Money Trust was greatly weakened.

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. The Georgetown Set created the OPC. In 1947 they also created the CIA, a peacetime equivalent to the more ad hoc wartime intelligence agencies. The Cold War had begun.

Leadership

At least in terms of wealth, J. P. Morgan led The Money Trust.

Exposure

Pujo Committee

This power of 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).[5]


 

Events carried out

EventDescription
1907 PanicA calculated move 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 Quotation

PageQuoteAuthor
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.”
Anthony Sutton


References

  1. "Giant Steel Trust Launched at Last: Will be Known as the United States Steel Corporation," The New York Times, February 26, 1901
  2. 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
  3. https://www.unwelcomeguests.net/750_-_Black_Is_The_New_White
  4. http://www.unwelcomeguests.net/229
  5. Bruner & Carr 2007, p. 148