The Basques: Spain’s Other Separatists

 

The Basque History of the World

by Mark Kurlansky

Penguin (1999)

Book Review

The Basque History of the World is a history of Basqueland, a semi-autonomous region in the Pyrenees straddling the French-Spanish border. Despite the recent declaration of independence by Catalonia, there is surprisingly little attention on historical efforts by Basqueland, to break away from Spanish rule. Like Catalonia Basqueland, which has its own unique language (Eskuera), has been a major industrial and economic powerhouse for the rest of Spain.

Global Mercenaries, Traders, Shipbuilders, Navigators and Bankers

Historically the Basques were traders and mercenary soldiers dating back to the 4th century BC. The Greeks hired them, as did Carthage in their war against Rome. Although Basque was technically “occupied” by the Roman empire for nearly 400 years, the Romans demanded no tribute (taxes) and exerted no military oversight.

In the 7th and 8th century, the Basques became Europe’s leading shipbuilders (which they learned from the Vikings) and iron mongers (which they learned from the Celts). They were the world’s first commercial whalers, establishing whaling stations as far distant as Newfoundland and Labrador. In the 9th century, they also dominated the European trade in salted cod, fishing off Iceland, Norway, Britain, as well as Newfoundland.

Beginning in the 15th century they were sought after by many European explorers (including Columbus and Magellan) as pilots, navigators and seamen.

They were also the first capitalists, financing their shipbuilding via private venture capital. In 1999, when this book was published, they were still global leaders in banking.

Unconquerable

Neither the Moors (in the 8th century) nor King Ferdinand and Queen Isabella (in the 15th century) succeeded in conquering Basqueland. Owing to the immense wealth the Basques generated, they paid no duty on foreign goods imported through their ports. Until 1876, they paid no tax to Madrid and were exempt from serving in the Spanish military. French Basqueland fared far worse after the French revolutionary government eliminated France’s three Basque provinces in their campaign to erase ethnic identities.

Spain was so poor when the second Spanish Republic was declared in 1931, only Basqueland and Catalonia (thanks to their strong industrial base) enjoyed a European standard of living. Both regions demanded full autonomy as a condition of supporting the Republic.

Following the successful coup of Spain’s fascist dictator Francisco Franco in 1939, the Basques provided the only organized resistance against his regime. They also played an extremely important role in the French resistance to Hitler’s occupation of France.

Role in Downfall of Franco Dictatorship

In 1973, ETA, the Basque armed militia assassinated Franco’s second in command, and Basque and Catalan leaders began meeting secretly to plan Spain’s transition to democracy.

Franco’s death and the fall of his government in 1975 would prove disastrous for the Basque economy. The dictator had been heavily subsidizing archaic Basque factories, which were totally unable to compete with modern European industries after Spain joined the EU.

In 1998, after uniting with Catalonia to win constitutional guarantees of legislative autonomy (for both Catalonia and Basqueland), ETA unilaterally renounced violence. This followed a 16-year battle with the GAL, an undercover police/paramilitary operation that engaged in extrajudicial assassinations and torture against Basque nationalists.

 

 

 

Spain’s 1936 Revolution – an Anarchist View

Living Utopia: The Anarchists and the Spanish Revolution

Directed by Juan Gamero (1997)

Spanish with English subtitles

 

In this documentary, the history of the 1936 Spanish revolution is told by anarchists* who actually participated in it. What imperialists commonly refer to as the Spanish Civil War, Spanish anarchists refer to as the Spanish revolution. The revolution lasted from 1936-39 before the counterrevolution, led my Franco, Hitler, Mussolini and Stalin (in conjunction with the western powers), overturned it.

The film begins by describing the roots of Spain’s anarchist movement, in Europe’s first workers society, formed in Barcelona in 1840. In 1902, they organized the first free (ie non-Catholic schools) to combat Spain’s high illiteracy rate (50%). In 1910 they formed the CNT (Confederación Nacional del Trabajo) and won an 8-hour day through a series of major strikes. By 1919, the CNT had a membership of 700,000.

Banned in 1923, the CNT organized in secret, until 1931 when the king was deposed. By this point they had one million members. However 90% of them boycotted the 1934 election. This enabled fascists to take control of the government and reverse most of the land and other reforms enacted by the Republic.

CNT Steps Up to Defend Against Franco’s Coup

In 1936, the CNT united with other Spanish leftist groups to elect a National Front government. Under General Franco, the military’s response was to launch a military coup. Failing to organize any  resistance, the government of the Republic crumbled. Thus it was left up to civilians to organize military resistance to prevent the fall of Madrid – as well as to organize basic survival infrastructure in the territory under their control.

The CNT joined with other resistance forces to form the Anti-Fascist Militias Committee. As volunteer militias marched towards the front line, they assisted rural peasants in bringing in the harvest and expropriating barren land from large landowners to put it into cultivation. A total of 7 million peasants voluntarily formed collectives.

Republic Crumbles Leaving Civilians to Re-organize Society

In the cities and villages, working people seized large buildings to provide lodging for the homeless and set up committees to distribute food, clothing and other necessities and put a halt to revenge killings. In Barcelona, the advance guard of the revolution, 80% of factories were seized by workers. Factory owners either fled or joined the worker-run management teams. Participation in the collectivization scheme was totally voluntary.

All production significantly increased during the revolution, as worker-run committees increased production efficiency and adopted new technology. After seizing Ford, GM and other factories, workers converted them into arms factories. Revolutionary councils coordinated the exchange of commodities between regions and exports, via sympathetic contacts, to other European countries. They also enacted decrees guaranteeing equal rights for women and legalizing abortion.

The Counterrevolution

In May 1937, strengthened by Stalin’s support (the Soviet Union was the only country willing to arm the Spanish Republic against Franco’s coup), the Republican leadership declared war against the anarchists who ran Barcelona when they refused to surrender the telephone exchange. After five days and 500 deaths, Barcelona’s anarchists allowed anarchist ministers who had joined the government to persuade them to accept a ceasefire. According to several interviewees, this was their big mistake and ultimately cost them their revolution.

In view of their vast numerical superiority, it would have made more sense to continue guerilla warfare against both the communists who controlled the government and Franco’s forces.


*Most of the interviewees refer to the movement behind the Spanish revolution as “libertarian” communism,” rather than anarchism.

George Seldes: Fighting the Corporate Takeover of the Press

Tell the Truth and Run: George Seldes and the American Press

Directed by Rick Goldsmith (1996)

Film Review

Tell the Truth and Run is a tribute to muckraking* journalist George Seldes, released shortly after his death at 104. It takes its title from a book Seldes published in 1952. It includes an extensive interview with Seldes at age 98, detailed biographical sketches and commentary by prominent activists, whistleblowers and media reformers (including Ralph Nader, Daniel Ellsberg and Ben Badikian, Victor Navksy and Jeff Cohen) who were influenced by his work.

Born in 1890, Seldes first became a reporter at 18, just as all major dailies were starting to rely on advertisers (instead of readers) for their funding base. As this occurred, investigative journalists seeking to expose government and corporate corruption began writing for the monthly magazines instead. Bankster JP Morgan and other industrial robber barons put an end to this by buying up all the monthly magazines.

Seldes quit his first job at the Pittsburgh Leader after the publisher spiked a story he wrote about the son of a department store magnate who raped a female staff member.

Following an eye opening stint in the US military press corps during World War I, Seldes became a foreign correspondent for the Chicago Tribune. He first ran into difficulty at that paper for exposing the violent and corrupt nature of Mussolini’s fascist regime – at a time when the US government and all the major newspapers were pro-Mussolini (owing to banker JP Morgan’s desire to refinance Italy’s World War I debt).

Seldes quit the Tribune in 1927 and published the first two of a series best selling books (You Can’t Print That and Can These Things Be?) based on all his material the Tribune refused to publish between 1918 and 1928.

Between 1940-1950 he put out the weekly newsletter In Fact: An Antidote to Falsehoods in the Daily Press. He would use the newsletter to expose the FBI role in spying on labor unions and  corporate media’s failure to report on 1940s research documenting health problems associated with smoking. He was also the first investigative journalist to expose the role of major Wall Street corporations in supporting Hitler’s rise to power.


* A term applied to American investigative reporters, novelists and critics of the Progressive Era (1890-1930)

 

The Wall Street Elites Who Financed Hitler

Oliver Stone’s Untold History of the United States – Prequel B

Directed by Oliver Stone

Film Review

Prequel B starts with the period of social repression that followed the return of GIs from World War I. US leaders were extremely concerned they would spread the oral sex techniques they had learned from French women. Alcohol prohibition, a crackdown on prostitution, rampant antisemitism (even Harvard restricted Jewish admissions) and anti-immigrant sentiment, and the eugenics movement (accompanied by forced sterilization of convicts, the “feeble minded” and promiscuous women) were all typical of this intense repression.

During the same period, Wall Street banks greatly reduced their investment in agriculture and manufacture, preferring the easier profits to be had from cheap credit and speculation. In 1929, a disastrous decision by central banks to increase interest rates triggered a deadly global depression, setting the stage for the rise of fascism in Europe.

Back in the US, Generals MacArthur, Eisenhower and Patton charged 40,000 World War I veterans and their families with infantry and tanks and burned their tents. The latter, calling themselves the Bonus Army, were demanding immediate payment of the bonus they had been promised for serving in World War I.

Stone describes the 1930s as a radical period of social experimentation, in part due to Roosevelt’s sweeping New Deal social reforms (including Social Security, unemployment insurance, agricultural subsidies, aid to dependent children and Federal paid work schemes), and in part due to aggressive industrial unionization and intense interest on the part of American intellectuals in Russia’s experiment with communism. Hundreds of thousands of Americans would join the Communist Party, while numerous prominent writers (including Ernest Hemingway, Langston Hughes, Sinclair Lewis, Richard Wright, Clifford Odets, and Sherwood Anderson) were communist sympathizers.

During the same period, the America’s wealthy elites were more inclined to support Hitler. Key individuals who helped finance the Third Reich include Henry Ford, Prescott Bush, William Randolph Hearst, the Morgan brothers, Allen Dulles (first CIA director) and John Foster Dulles (Secretary of State under Eisenhower). The key US banks involved were Bank of International Settlements, Chase Manhattan, JP Morgan and United Banking Corporation (Brown Brothers Harriman). Specific US companies that provided Hitler with armaments, military vehicles, aircraft, oil and other material support include Kodak, ITT, Dupont, Westinghouse, Standard Oil, Singer, GE, Pratt and Whitney, United Fruit, Singer, Douglas Aircraft and International Harvester.

In 1933, some of these same industrialists would also try to instigate a coup – foiled by General Smedley Butler – to remove Roosevelt from office.

 

Oliver Stone’s Untold History of the US – Parts 1-3

Untold History of the United States – Parts 1-3

Directed by Oliver Stone (2012)

Last week, I sat down and binge watched Oliver Stone’s 10 part Showtime series Untold History of the United States. I was pleasantly surprised. Stone is strongly influenced by late historian Chalmers Johnson (see The Impermanence of Empire) and mentions him at several points in the series.

Untold History concerns the hidden history of the “American Century” that we’re never taught in school. Unlike Howard Zinn’s People’ History of the United States, it devotes little air time to the popular resistance movements that shaped the period 1932-2012. Instead it focuses mainly on the presidents who governed during this period.

Parts 1-3, which focus on World War II, unpack the lie that Truman dropped two nuclear bombs on Japan to spare hundreds of thousands of GIs who would have died invading the Japanese mainland.

Stone begins with a broad outline of the German military build-up that began in the early 1930s. I think this segment would have been clearer if Stone had discussed the Wall Street fascists who deliberately armed Hitler in the hope he would invade and destroy the Soviet Union. He delays this discussion until part 9, when he introduces Prescott Bush, the pro-Nazi granddaddy of George W Bush.

The first three parts of this series provide a fairly comprehensive history of the Spanish Civil War and of so-called British “appeasement” of Hitler in the early 1930s. I was extremely surprised to learn that Neville Chamberlain wasn’t motivated by cowardice, as we were taught in school, when he agreed to Hitler’s 1938 occupation of Czechoslovakia. He was merely carrying out the wishes of the US-Anglo elite – they were happy to cede Eastern Europe to Germany if it facilitated the destruction of the Soviet Union.

I was also totally unaware that the Soviets were responsible for destroying the bulk of Hitler’s vast military arsenal while the Allies piddled around in peripheral conflicts in North Africa and Italy (at the cost of 27 million lives in contrast to the 500,000 each lost by Britain and the US).

The real reason for Churchill and Roosevelt stalling for two years (Hitler invaded the USSR in 1941) before opening a second front (in Normandy) was their continuing belief that Hitler would defeat the Soviets. Once the Red Army pushed Nazi forces out of the USSR and began retaking Eastern Europe, the allies were forced to act to limit Soviet expansion.

It was actually this two year delay that caused nearly all of Eastern Europe to end up under Communist control – not ruthless Soviet expansionism as we are taught in school.

Stone agrees with historians who attribute the US nuclear attack on Japan to anti-communist hawks in the Truman administration who sought to use it to intimidate the Soviet Union. He maintains that Henry Wallace (Roosevelt’s vice-president until 19944) would never have given in to War Department hawks.

Wallace, according to Stone, was a true liberal populist in the Roosevelt mold. He was universally hated by Wall Street elites. He lost the 1944 vice presidential nomination to Truman (despite controlling over 65% of the delegates) after Democratic Party bosses rigged the 1944 Democratic Convention.

Part 1 – World War II

https://vimeo.com/136182100

Part 2 – Roosevelt, Truman & Wallace

https://vimeo.com/136182101

Part 3 – The Bomb

Trump, Hitler and Right Wing Populism

Make America Hate Again

Reich Wing Watch (2016)

Film Review

Make America Hate Again, a documentary about Donald Trump’s right wing populism, likens his strong appeal for blue collar white men to that of Adolph Hitler. The film specifically examines the narcissistic personality disorder – the profound grandiosity, entitlement and absence of empathy – shared by both men. The filmmakers find it no accident that Trump enjoys the support of modern day white power supremacists and neo-Nazi fascists who idolize Hitler.

They also examine the appeal of racial scapegoating for white men struggling with profound fear and inadequacy in economically precarious times. As Hitler fomented irrational hatred of Jews to propel his rise to power, Trump foments irrational hatred of Muslims and #Blacklivesmatter activists.

The documentary includes great video footage of rabid Trump supporter Alex Jones foaming at the mouth, as well as audio footage of Michael Parenti lambasting mainstream politicians (and media) for concealing the link between capitalism and fascism.

In my view, the film’s major weakness is its failure to expand on this link. It makes brief mention of the German industrialists who financed Hitler’s rise to power. However it fails to mention the key role played by Wall Street corporations in the rise of Nazi Germany.

I was also disappointed by the documentary’s failure to examine the financial interests promoting Trump’s meteoric rise in the corporate media and public opinion polls.

 

A 241 Year Fairy Tale About American Democracy

war is a lie

 

War is a Lie

By David Swanson

Just World Books (2016)

Book Review

In War is a Lie, author David Swanson presents extensive historical evidence that the US has never been a democratic republic – that this is a carefully crafted fairy tale the ruling elite has been telling us since the late 18th century. He also demolishes the myth that warfare is deeply ingrained in human nature. Ninety-eight percent of people are deeply opposed to killing and warfare and require extensive brainwashing to commit to either. Although the species homo sapiens is 60,000 – 1000,000 years old, they have only engaged in war for the last 10,000 years. Many human civilizations (including the people of the Arctic, Northeast Mexico, Australia and Nevada’s Great Basin) had no experience of war prior to contact with Europeans. Among the more astonishing facts Swanson reveals is that 80% of the US troops drafted into World War II declined to kill enemy troops.

Starting with the Revolutionary War, War is a Lie is full of delightful little factoids that are omitted from high school and college US history courses.

Among the high points:

Revolutionary War

The two real goals of the US War of Independence were to 1) remove the King’s representatives from positions of power in North America and replace them with colonial merchants and bankers and 2) to overturn the British ban on western expansion (via the slaughter of indigenous tribes). The Continental Army consisted mainly of poor farmers who were forcibly conscripted, brutally mistreated and rarely paid (even though General Washington was the richest man in the colonies. During and after the war, numerous “democratic reforms” were enacted to motivate these the “recruits, with all being promptly nullified.

War of 1812

Contrary to what we’re taught in school, the US started the War of 1812, with the intention of invading and occupying Canada. They lost this war.

Mexican-American War (1846-48)

Another war about western expansion that resulted in the US annexation of Texas, California, Utah, New Mexico, Arizona, Nevada and parts of Colorado and Oregon. Many Irish and other European immigrants fought for Mexico.

Civil War

Swanson maintains the Civil War was also about western expansion and whether the North or South would control the new western territories. Swanson stresses that Lincoln could have easily freed the slaves without launching a war (other countries did so). The Emancipation Proclamation was issued well after the war started, as public sentiment turned against the war due to high casualties. Swanson reminds us that the Proclamation only applied to states that had seceded – slavery remained legal in Union states.

World War II

Swanson details the deliberate Wall Street strategy of arming Hitler to neutralize the Soviets, highlighting orders US pilots received not to bomb German munitions factories owned by Americans. He also writes at length about the Nazi eugenics experiments that originating in the US under the guidance of Rockefeller, Carnegie and Harrison. I was intrigued to learne the Rockefeller Foundation funded Josef Mengele’s experiments on Jewish prisoners. Swanson attributes Roosevelt’s eagerness to enter World War II to increasing working class militancy in the US (which the compulsory draft ended) and fears of full blown insurrection. He also discusses numerous efforts Hitler made (as late as 1940) to negotiate a peace settlement with the allies – which they rebuffed.

A Cuban Novel About Trotsky’s Assassination

the man who loved dogs

The Man Who Loved Dogs

By Leonardo Padura

Translated by Anna Kushner (2013)

Book Review

The Man Who Loved Dogs is a fictional account of the Stalinist Conspiracy to assassinate Leon Trotsky in Mexico in 1940. Havana author Leonardo Padura uses three distinct perspectives to relate his story: that of Trotsky and his family, that of his assassin Roman Mercader and that of a failed Cuban writer who accidentally encounters Mercader on a Cuban beach in the 1970s as he’s on the verge of death.

The conspiracy is vaguely reminiscent of the JFK assassination conspiracy, in that it was meticulously planned and took three years to set in motion. Mercader was a Spanish Communist recruited by Stalin’s agents and brought to the USSR for specialized intelligence training. Posing as a Belgian journalist, he cultivated an American Trotskyite girlfriend to facilitate his entry into the high security compound where Trotsky’s family lived in Coyoacan Mexico.

The early part of the book contains long sections about the Spanish Civil War. These focus on Stalin’s brutal efforts to undermine the Spanish Revolution by assassinating anarchist and Trotskyite rivals, including members of the International Brigades. He then proceeded to abandon Spain’s Republican government to Franco’s fascists to improve his negotiating position with Hitler.

The History of Trotsky’s Exile

The narrative from Trotsky’s perspective begins with his forced exile to Turkey in 1929. He’s eventually offered asylum in France and Norway, both of which expel him (under pressure from local communists) after a few months. These sections also focus on Trotsky’s dismay regarding Stalin’s decade of show trials and executions, which systematically eliminated the primary Bolshevik luminaries responsible for the 1917 revolution, as well as one-third of the leadership of the Soviet Army.

Prior to 1990 Books About Trotsky Banned in Cuba

The narrative based on the fictional Cuban writer focuses on the intellectual and artistic repression that characterized the early Castro regime and the severe hardship (literal starvation in many cases) that began when the USSR collapsed in 1989 and Cuba ceased to have access to cheap soviet oil essential to their system of industrial agriculture.

Prior to the 1990s, books by or about Trotsky were banned in Cuba, as they were in the USSR. As Padura reminds us in his acknowledgements, Cubans of his generation grew up totally unaware that Trotsky or Trotskyism even existed. From this perspective, one can’t help but marvel at his extensive research into Trotsky’s personal and political history, as well as the Spanish Civil War and Stalin’s show trials.

The Hidden History of the US Constitution

towards an american revolution

Toward an American Revolution: Exposing the Constitution and other Illusions

by Jerry Fresia

South End Press (1988)

Book Review

This book is a great follow-up for people wanting to know more about the secret machinations behind the US Constitution after watching the film Plutocracy.

I knew virtually nothing about the framing of the Constitution when I first read Toward an American Revolution in the mid-nineties. Fresia reveals how the first Constitutional Convention was actually a secret meeting of rich property owners and merchants whose business interests (expanded trade and personal wealth) were threatened by farmers who had seized control of legislatures in twelve out of thirteen states.

The clear intent of Washington, Hamilton, Madison and the other businessmen and plantation ownders who wrote the Constitution was to transfer power from relatively autonomous state assemblies to a centralized federal government. Most agreed from the outset that they wanted a system of government more like Britain’s, ie one in which the business elite could use government authority to enhance their economic interests.

According to Fresia, the true purpose of constitutional “checks and balances” (ie the three branches of government) was to insure that moneyed interests enjoyed a greater voice than ordinary people. The Senate, a distinctly unrepresentative body, plays a major role in minimizing popular input. The Senate, in which a tiny state like Rhode Island has the same number of votes as an a big state like California, is given sole authority to approve treaties and presidential appointees. Their longer terms (six years) mean senators are less accountable to voters than congress people (who have two years terms). Until 1913, senators were still chosen by the electoral college (as opposed by direct vote) as the president is.

In 2015, more than 200 years after the Constitution was first written, Americans are still denied the right to vote directly for President.

Toward an American Revolution also describes the dirty tricks the founding father used to get 9 legislatures to ratify the Constitution, despite overwhelming opposition from the majority of enfranchised American voters.

The second half of the book fast forwards to the twentieth century to demonstrate how the US has continued to be ruled by a secret political elite. The latter have a specific agenda of suppressing democracy when it interferes with their business interests.

The examples given include America’s “secret police” force under the FBI’s Cointelpo operation, the role played by President Herbert Hoover and US industrialists (represented by Wall Street lawyer Allen Dulles) in financing the rise of Hitler, the subsequent appointment of Dulles to head the most powerful secret police apparatus in history (the CIA), his incorporation of Nazi war criminals into US intelligence networks, the role of “secret government” in the assassination of JFK, the corruption of our democratically elected representatives by corporate lobbyists and Reagan’s illegal war in Nicaragua.

Fresia has kindly made excerpts of this book available at http://cyberjournal.org/authors/fresia/

The Real Vampires: An Insider’s View of Banks

tragedy and hope

Tragedy and Hope: A History of the World in Our Time

Carroll Quigley* (1966 MacMillan)

Tragedy and Hope is a free download from http://sandiego.indymedia.org/media/2006/10/119975.pdf

(This is a third of a series of posts about stripping private banks of their power to create and control our money supply.)

Book Review

Tragedy and Hope is an exacting account of how the Bank of England, the Federal Reserve, the European central banks, and the investment banks that dominate them (e.g. Goldman Sachs and JP Morgan) came to control all western governments.

According to Quigley, banks have controlled western society – by manipulating the money supply – since the creation of the Bank of England and the fractional reserve lending system in 1694. Moreover, owing to the secrecy under which they operate, Quigley asserts that most elected officials are totally unaware of the immense control central and investment banks exert over the so-called democratic process.

He describes in exhaustive detail how all historical inflationary and deflationary crises, panics, wars, recessions and depressions were orchestrated behind the scenes by the banking establishment, for the purpose of increasing their private wealth. In his epic portrayal of three centuries of western civilization, he also describes how the banking aristocracy financed the rise of Communism in Russia, China and Eastern Europe, as well as bringing Hitler, Mussolini, Stalin and Roosevelt to power and guiding their governments from behind the scenes.

How Banks Create Money “Out of Nothing”

The single act, according to Quigley, that guaranteed Britain’s two century preeminence over the rest of the world was the development (in 1694), by British investment banks, of the fractional reserve lending system. This system allowed English investment banks to be the first in the world to lend money (to industry and the British government) that they created out of thin air. He goes on to list the banking dynasties that have held near absolute control of the global money supply since 1694, starting with banking cartel formed by Frankfurt banker Meyer Rothschild. At the time of his death, Rothschild’s five sons each controlled a major investment bank in Vienna, London, Naples, Paris and Frankfurt. Quigley lists the investment bank formed by the J.P. Morgan family as second to the Rothschild banks in power and influence, followed by the Baring Brothers, Morgan Grenfell, the Lazard Brothers, Erlanger, Warbur, Shroder, Seligman, the Speyers, Mirabaud, Mallet and Fould.

The Council on Foreign Relations

Quigley also writes about the network of secret round tables of international corporate and banking elites started by Cecil Rhodes and expanded by his followers with his sizable estate. At their founding, they had the stated purpose of spreading British the virtues of “ruling class” tradition throughout the English speaking world and solidifying the political power and influence of the British Empire. The US Council on Foreign Relations, one of the secret round tables started by Rhodes’ followers, was started in 1919, with the explicit goal of influencing the foreign and domestic policies of a former colony over which Britain no longer had direct control.

How English Banks Controlled the US Government

According to Quigley, the US was consistently a debtor nation prior to World War I. Following the 1776 revolution, US government and businesses continued to borrow funding for industrial and colonial expansion from English and European investment banks. The American banker, JP Morgan, collaborated with European investment banks to dictate US foreign and domestic policy. They did so by threatening to destroy the US economy by 1) refusing to renew treasury bonds (i.e. money the government borrowed from banks to fund public spending 2) causing a panic by throwing large numbers of shares on the stock market or 3) destroying the value of railroads and other companies the banks owned by loading them up with worthless assets.

As Quigley relates, they engaged in all three tactics at various times throughout the 19th century, resulting in a series of booms, panics, recessions and depressions that wreaked havoc on American economic development.

How Bankers Engineered, World War I, Bolshevism, Nazism and the Great Depression

The most disturbing section of Tragedy and Hope describes how international bankers engineered (he describes their secret meetings) World War I and what Quigley calls the Banker-Engendered Deflationary Crisis of 1927-40 (aka the Great Depression). Following the 1870 unification under Bismarck, Germany experienced a rapid burst of industrialization, generating sufficient profit that they ceased to rely on investment banks to finance either business or government. They also threatened global bankers by competing with England and other European countries for export markets.

While engineering the first world war to put Germany in her place, the world banking cabal simultaneously hatched a scheme to destabilize Russia (which was making claims on Balkan members of the former Ottoman Empire) by secretly funding the Bolsheviks and other Russian revolutionaries.

Financing Hitler and the Nazis

When the the first world war ended in 1918, public debt in Western Europe and the US had increased by 1000%. In 1929, the austerity measures global banks forced on the US, England, France and other European countries led to widespread bankruptcies and unemployment and the virtual collapse of foreign trade.

Except in Germany. The global banking elite used the wealth generated from debt repayment to finance rapid German re-industrialization and militarization and the Nazi movement started by Hitler. The main German corporations funding Hitler were IG Farben, Siemens, Bayer, Daimler Benz, Porsche/Volksvagen and Krupp. In addition to Henry Ford and William Randolph Hearst, the important US banks and corporations who financed Hitler’s rise to power included Kodak, Coca-Cola, DuPont, Standard Oil, IBM, Random House and Chase Bank.

* Late mentor to former president Bill Clinton, Princeton, Harvard and Georgetown professor Carroll Quigley also served as an adviser to the Pentagon and Foreign Service.