() More importantly, the total assets of the Rockefeller Foundation (approximately 6.6 billion US dollars in 1935), taking into account the impact of the economic crisis in 1937, even if it increased by the end of 1938 compared with 1935, it would not be much more
.) far exceeds the personal wealth owned by Rockefeller Jr., and if you include some subsidiaries controlled by the Rockefeller consortium, their strength will be even stronger. Even the entire Minas Oil Field may not be incapable of them.
However, the Rockefeller Foundation's status as the leader in the oil industry made Zhongfu International very passive when negotiating with them. Even Mao Zemin, a diplomacy and business expert, was the same. But in this unfavorable situation, he found another way to think of another super
Consortium Morgan Consortium..
Although the total assets of the Morgan family have long been surpassed by the Rockefeller family, the Morgan consortium is still the most powerful financial oligarch in the world. At that time, the old Morgan did not value personal assets, but only valued the strength of the consortium and its camp.
Under the guidance of the Morgan consortium, although its own net worth is far less than that of Rockefeller
consortium, but cleverly used various means to establish an astonishingly large "Morgan Alliance". In this alliance, the board of directors, with Morgan as the axis, interacts with more than 200,000 major financial institutions below large financial capital.
connections, thus forming a huge and well-organized "Morgan System"
The financial groups in the "Morgan System" account for 33% of the financial capital in the United States, with a total value of nearly 20 billion U.S. dollars! There are also insurance assets of 12.5 billion U.S. dollars, accounting for 65% of the U.S. insurance industry. In terms of production, 35 major companies in the United States
Among them are 47 directors of Morgan companies, including U.S. Steel
Company, General Motors Company, Kennegg Special Copper Company, Texas Gulf Sulfur Company, Continental Petroleum Company, General Electric Company, etc., and Morgan Company’s penetration in the railway industry is well known. At the same time, in the communications industry, it
Also owns International Telephone and Telegraph Company, All-American Cable, Postal Cable, United States
Communications giants such as Telephone and Telegraph Company. In addition, Morgan Alliance also owns major trust companies such as Yanakoda Copper Mountain, Westinghouse Electric, and United Metal Carbide. Add all of the above. Add up all total assets, deduct duplicate parts, and the Great Panic
The former Morgan system had a total capital of US$74 billion.
When 14.167 directors of all corporate capital in the United States came out of Morgan, they controlled the entire Morgan system and executed the instructions issued by Morgan on Wall Street. At its peak, its influence on the United States even exceeded the other nine major financial groups combined.
.Not to mention the US government, which is nothing more than a puppet.
Fucked..
But the law of "what grows tall in the forest will be destroyed by the wind." is not only effective in China. None of the other nine major financial groups in the United States is willing to watch the Morgan consortium continue to be "one super and dominant". And the same is true for all previous presidents of the United States.
are extremely afraid of it, although everyone knows that the United States
The president is just an agent of the capitalists, but he is also an agent. If there are countless bosses, he can still use their internal contradictions to gain some rights, but if there is only one boss, there will be no room for bargaining and even a little autonomy.
All rights are gone.
It was just that after World War I, the Morgan consortium was at its peak. No one dared to take the risk of attacking it. However, the severe economic crisis that broke out in 1929 gave everyone a golden opportunity. Although this unprecedented Great Depression, all the top ten conglomerates in the United States were
Suffered huge losses, but the Morgan consortium, whose main business is finance and investment, suffered a blow.
The blow was undoubtedly greater than that of industrial capitalists whose main business was the real economy. What was even more terrible was that the relatively loose flaws of the Morgan system were also exposed. When the disaster was approaching, many collaborators abandoned the big tree of the Morgan consortium.
, causing the Morgan system to shrink rapidly, which further weakened the Morgan consortium's ability to respond to this unprecedented crisis.
Naturally, many super conglomerates in the United States, headed by the Rockefeller Foundation, would not miss this opportunity. With the support of these industrial giants, Roosevelt, who had just come to power, was able to withstand the huge public pressure to implement a policy that in the West at that time had a strong socialist flavor.
Colorful "New Deal". As a result, Roosevelt's New Deal temporarily pulled the United States out of the abyss of the Great Depression, but on the other hand, opposition forces outside the financial community united during the New Deal period and worked together to overthrow the Morgan empire.
rule.
This opposition coalition includes: Rockefeller Group; min
The new force of the Harriman family in the Communist Party; the upstart Jewish investment banks on Wall Street, such as Lehman Brothers and Goldman Sachs; and exclusive ethnic groups like Irish Catholics, old foxes in business, Joseph P.
Americans, the Giannini family from the Bank of California, and Mormon Marina Eccles, the owner of a large construction company controlled by a bank in Utah, together with the California-based Bettany Engineering Company and Rockefeller
The Standard Oil Company of California is an alliance
The precursor of this financial revolution was the successful annexation of Morgan's flagship commercial bank, the powerful Chase National Bank, by the Rockefeller consortium. After the financial panic of 1929, Senator Nelson Aldrich's son, Rockefeller Jr.
His brother-in-law, Winthrop Aldrich, promoted Rockefeller's Equitable Trust Company, which he was responsible for.
The merger between Chase National Bank and Chase National Bank. From then on, Aldrich launched an earth-shattering battle in Chase Bank. By 1932, he successfully drove out Chase CEO Albert Wiggin, who was born in Morgan.
, and he personally served as CEO. Since then, Chase National Bank has become the de facto headquarters of Rockefeller's financial empire.
The New Deal coalition cunningly promoted the Banking Acts of 1933 and 1935 during the New Deal period. Through these two acts, the Federal Reserve was reshaped and the power of the Federal Reserve was permanently transferred from the hands of Wall Street, the Morgan syndicate and the New York branch to the politicians in Washington, DC.
.Knot
As a result, the Federal Reserve Bank of New York was deprived of the power to control open market operations, and the Federal Open Market Committee under the leadership of the Federal Reserve Board in Washington was responsible for open market operations. The regional branches have since only played the role of secondary partners.
se.
Another major change in monetary policy implemented by Roosevelt's New Deal was the abandonment of the gold standard. Of course, this was under the pretext of the "emergency" of the U.S. fractional reserve banking system during the Great Depression. After 1933, U.S. citizens were no longer able to transfer funds from the Federal Reserve to
Bank notes and deposits were cashed into gold coins, which was a heavy blow to the Morgan consortium that was squeezed out of the Federal Reserve. (To be continued.)