A comment by Ralph T. Niemeyer
Consipracy theorists have it that all evil is being combined in the FED, or Federal Reserve, and claim that “one hears so many Jewish sounding names during the financial crisis”. The facts speak a different language as the group of owners of the FED is as inhomogene as it is international and diverse in terms of religious background of top personnel.
A lot of criticism drew the bailout of investment banks by the FED since August 11, 2007, but can that be seen as a conspiracy? And, is this conspiracy leading to wars, as right-wing theorists allover the world try to make people believe?
In Germany, especially, again one has to say, an unhealthy alliance between some radical leftists and more or less openly acting anti-semites and Holocaust-deniers recently has been formed that hardly falls short of blaming “jewish structures” for the crisis the world is in.
One of the stars of the right-wing scene is Moustafa Kashefi, aka “Ken Jebsen”, who got fired from German third channel after falling out with editors over Israel-critical comments that could also be seen as anti-semitic since a so called “Jewish conspiracy” in dominating the FED and by this the world’s finances is being hinted at.
At least confusing may be for many true leftists the fact that senior leaders of the German parliamentary fraction DIE LINKE, like Wolfgang Gehrcke or the former advisor to Social Democratic Chancellor Willy Brandt, Albrecht Müller, grant Mr. Kashefi interviews for his online video channel “Ken FM”.
Also other outspoken high profile anti-capitalists such as singer and songwriter and today member of Bundestag Dr. Diether Dehm, according to Wikipedia a former informant for the East German secret service STASI for who he was spying at dissidents escaping the German Democratic Republic (GDR), were seen at the gatherings of the Neo-Right and were enthusiastically welcomed by former leftist publicist Jürgen Elsässer who in his articles these days bow to what many see a neo-fascist “Querfront” (a front across the political spectrum reaching from ultra leftist to ultra right-wing).
Many leftists in Germany these days wonder what Mr. Dehm’s intentions are and whether these are really his own ideas or whether he is guided by secret services again. As a matter of facts, after 1990, when the GDR collapsed, Ex STASI-informants could not make any political career in the unified Germany unless they switched sides. Some leftist politicians suspect that Mr. Dehm was hired by west-German secret services, but there is, of course, no solid proof available other than his behaviour.
Although Mr. Dehm does not deny Mr. Elsässer using an interview he gave to a freelance reporter that mysteriously found it’s way into Mr. Elsässer’s magazine “Compact” that became a central organ for holocaust deniers, he insists that he did not know that the interview was being published in “Compact” or on any other of Mr. Elsässer’s sites. Hard to believe but he nevertheless fights in courts against the claim that he cooperated with Mr. Elsässer.
Common ground between Germany’s neo-fascists and ultra leftists is being found in their criticism of Israel and the banking industry. Leftist and rightist anti-capitalists also both fall short of analysing acurately where the problem in the world of finances lay, namely not in a few personalities (Jewish or not is irrelevant in this context) but in the legal and mathematical basis of the entire system.
But, it is, of course, easier to blame some rich billionaires and famous family dynasties like the Rothschilds then going deeper into the subject. Most importantly, all speakers of the movement are eager to point out is the “Jewish dominance” in the world of finances thus playing the same card as Adolf Hitler did.
The certainly questionable apartheid-style of politics applied by Israel in relation to the Palestinians is as much a topic in those anti-capitalistic circles as Russian President Vladimir Putin is being hailed despite his definetly pro-capitalistic economic policy while the FED is being branded for ruining the world’s finances. In a way it is funny how conspiracy theorists claim that the ownership structure of the FED was “concealed” and “impenetrable”. The opposite is true. It is relatively easy to disclose who is pulling the strings.
The “Red-Brown” peace movement of today’s Germany declared the usual political spectrum reaching from socialistic left, whose political colour is red, to neo-NAZI right wing (since Hitler’s uniforms associated with brown) for being no longer valid. But, by saying they are neither leftists nor rightists, the activists are inviting anti-semites and fascists to jump onto the bandwaggon undermining the movement.
The Federal Reserve is being said to be masterminded by ultra-rich Jews those conspiracy theorists want to make people believe irgnoring the facts. Indeed, there is, according to the UK’s House of Commons Banking Committee Staff report of 1976, a linear connection between N.M. Rothschild, the Bank of England which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. It is logic therefore that the FED is not left with any choice but to bail out investment banks however naughty their behaviour has been.
The two principal Rothschild representatives in New York, J. P. Morgan Co. and Kuhn, Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914.
These firms had their principal officers appointed to the Federal Reserve Board of Governors. In 1914 a few families (blood or business related) owning controlling stock in existing banks such as in New York City caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and the text in the House Banking Committee Staff Report of August 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control.
But, does that mean that the FED is owned by a few Jewish families? Not at all. In fact, the FED is less American than most people may think it is.
The line goes from Nathan Meyer Rothschild, London and the Bank of England, London to Morgan Grenfell, Morgan & Cie, Paris, Lazard Freres, Paris, J.P. Morgan Co. New York, J. Henry Schroder Banking Corp., Schroder Bank, Hamburg & Berlin, Lehman Brothers, New York, Elsie & William Rockefeller, New York, Isabel & Percy Rockefeller, New York, James Paul Warburg, New York to Sir Gordon Richardson, Governor of the Bank of England in 1973 who at the same time has been board member of J. Henry Schroder, New York as well as Lloyds Bank, and to the Belgian Relief Commission under Emile Francoui.
This extract of the charts of who owns the Federal Reserve may illustrate how international the financial market actually is.
It is not only the “Anglo-Saxon” model of investment banks that collapsed, it is also German, Belgian, French and others. It is clear that the owners of the FED will fight for rescuing their stakes by whatever means, by taking each other over, printing additional money, taking new deposits and lending to each other to win time.
It is clear that the financial market can’t be fixed that way, but maybe it’s final collapse postponed a bit, let’s say over election days in the U.S., Great-Britain and Germany as during a depression voters might not trust existing political structures anymore.
To see a Jewish conspiracy in all this is much too far fetched and not supported by the facts.
The anti-capitalists did better concentrate on the economic structures which create financial bubbles that cause economic collapses for the 5th time in 400 years, rather than spinning yarn that may easily be dismantled by the defenders and beneficiaries of the old financial system.
Once valid criticism of the present financial capitalism is being discredited by conspiracy theories that don’t add up, citizens will less likely be willing to listen to the movement that otherwise could have a potential to force the political and financial elite to overhaul the system.
But, to blame the owners of the FED for all evil in the world is ridiculous as one can already observe since the collapse of Bear Stearns in March 2008: Wall Street is not the same anymore.
A 75 years long era came to an end, not a happy one, though. The owners of the Federal Reserve are bailing themselves out, tragic and in a way more laughable than frightening.