High Noon in Nicosia: what really happened in Cyprus?
(left: one of those Cypriots holding the bag)
In a stunning, but inevitable development, savers are getting a haircut in Cyprus. Raping depositors, however necessary if they insist on keeping the banks open, will only further erode confidence in the system. Did the Money Power miscalculate? Are they upping the ante in preparation for their endgame? Or was their hand forced by mounting German opposition?
‘The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.’
Lord Acton
By Anthony Migchels for Henry Makow and Real Currencies
The euro may not fail, because if it does, they will never be able to sell World Currency. If they can’t even make it work in Europe, how is it going to work on a global scale? That’s the reason why all member states are kept on board at whatever cost, either to Brussels, Frankfurt, the national economies or even, it seems, the banking system itself.
It’s not unfair
The story of today is about those poor savers that did absolutely nothing wrong, are indeed the backbone of the economy, and are now being mauled so badly. But this celebration of victimhood is not to the point. What is really absurd, is forcing the taxpayer to guarantee the holdings of savers. Meaning the poor guarantee those that actually do have money. The taxpayer guarantees of deposits always were a clear sign of banking supremacy. Banks have been going bust routinely for centuries and nobody would have kept a dime with them, without the depositor guarantees. It’s just another example of how they privatize profit and socialize loss.
The truth is that the banking system could not exist without savers and the banking system is the scourge of the world. So savers are not only insanely irresponsible with their own money, they’re backstabbing all the rest of us too with keeping their money in banks. True, very few will agree with this line, but it seems the inescapable conclusion of a clear cut analysis of our long term predicament as interest-slaves.
So what’s the story?
What are the forces driving this seemingly suicidal step?
During the negotiations about the ‘rescue’, the issue of the Bond holders was of prime importance. Prime Minister Juncker of the small Bankster nation of Luxemburg warned against a Bond holder haircut and indeed they seem to have been spared. Although viper bank Barclays warned that even touching deposits was a clear threat to Bond holder confidence. The Bond market is everything in finance and we’ll know the end is there if they quit the market. They paid in Greece, but it seems they managed to scare the Germans and the IMF away from their assets this time.
This is in fact a crucial trade off: lest we forget, the Bond holders are mainly the international banking cartel itself. So either it pays for the debt crisis they created themselves with direct haircuts, or by raping the depositors, whose confidence they need in the long run. And of course: making the banks pay just creates a new round of busts for the ‘too big to fails’, ‘forcing’ the taxpayer into a new round of bailouts.
The key driver behind the Euro crisis is the Money Power agenda of consolidating power in Brussels. The issue is fiscal union. Over the last few decades a lot of political power has been centralized in Brussels. About half of European legislation is already from there, instead of national capitals. But real political power is with those running the budget and that’s what Brussels is after here. The Euro crisis’ main goal, from the Money Power’s point of view, is to sucker people into handing over the power over their budgets to Brussels. How this is achieved is of lesser import, there are several ways.
One of them is the infamous European Stability Mechanism (ESM), an utterly tyrannical outfit, financed by the Nations and run, without any democratic oversight, by a commission of finance ministers. The ESM’s goal is to bail out any bank even before it becomes a problem. The ESM is backed by a law forcing the nations to cough up any sum the ESM demands within seven days.
The other is ECB money printing. The big difference between the Fed and the ECB is, that the Fed is backed by only one Government and the interests of the Fed and Washington are highly aligned. The Fed will always provide Washington with whatever liquidity needs. The US cannot go bust, because the Fed will always print whatever is needed. Nowadays, with nobody buying US Treasuries, the Fed simply provides the Government with all the money it needs at close to 0%. This is not possible in Europe, because if the Spanish need money, all other Governments, most notably the Germans, are on the hook for it.
This is the reason why the US has not found itself in the kind of debt trap that destroyed Spain, Italy, Greece, Portugal and Ireland. Had these nations still been able to print their own money, they would not have had these problems either.
Structural ECB money printing would make a mockery of ‘fiscal independence’ and would create an almost unstoppable driver for further fiscal integration, as all the nations would in effect be guaranteeing each other and the weaker nations would have to comply with the stronger nations’ demands.
This was the real ‘break through’ behind ECB boss Draghi’s ‘we’ll do whatever it takes’ back in July 2012: what he was really saying was that the ECB, for the first time, would interfere in the sovereign debt market in a major way: printing to keep borrowing costs down for the PIIGS nations. However, although the Germans backed this statement, gnashing teeth and all, they are far from willing to go all the way. They are not going to allow a real debasement of the euro. Most certainly not if they are on the hook for it.
German support for the euro is still fairly strong. The country has benefited immensely from the crisis. Structural imbalances have provided Germany with great exporting opportunities throughout the zone. The nation has seen a massive capital influx from money leaving the South due to lack of confidence. This capital has generated a bit of a boom while the rest of the world burns. But while Germans love the upside of European Colonization through the euro, they hate the downside: backing Southern debt. Merkel is dealing with plummeting confidence and recently an anti Euro party was launched.
People like Merkel and Schauble (the German finance minister who also coordinated the Cyprus deal) are total NWO insiders, but most lower politicians are kept in check with ‘political correctness’ and with the mounting pressures of the crunch, this shallow veneer is becoming ever more fragile. Nationalism, a lethal enemy to Globalism, is rearing its almost forgotten head and the utter disgust with the bankers and local elites are becoming hard to avoid.
So we see two basic conflicts: one being the hard choice for the bankers of either being shorn themselves or to rape the depositors they need in the long run and on the other hand the German refusal to pay the price for the great benefits the euro has brought them.
Of course, the tensions in Europe’s South continue to escalate also. Only a few days ago the Spanish police took to the streets to apologize to the people that they were fighting them, instead of arresting the Bankers. In the Netherlands, another key member, people are refusing austerity to destroy their economy like it did in the PIIGS nations.
Conclusion
The euro may not fail. If it does, it would be a devastating blow to the agenda of World Currency. Rest assured that the Cypriots were threatened with sulfur and brimstone.
The original German demand seems to have been taking 40% of deposits, to avoid further (German) tax payer or ECB involvement. Obviously this is not sustainable: just this Cyprus thing is going to have major consequences. Already we hear of taking 15% of Italian savings but this is not doable. It would mean war. The Italians just did away with Goldman Sachs alumni, Trilateralist and German backed strong man ‘Super’ Mario Monti . They went for Beppe Grillo and it’s not hard to imagine what he would make of such a move. We would see quick new elections in Italy and the end of the current order.
Throughout the South local elites face extinction. In the US it is clear the Government is preparing for civil war, depleting national ammunition production, buying thousands of tanks for the DHS and the recent confirmation of manned and ready internment camps throughout the United States.
Of course, many rational real solutions are available to the credit crisis. But all of these imply the end of banker hegemony and that is, after all, what it is all about.
It remains impossible to fathom it all in real time. Their smoke and mirrors will always fool us and only with hindsight can it all be really understood. But the question of today is: is the Money Power still in control and preparing for a final showdown, or is all this a sign of weakness? It seems fair to say we will know the answer to this question perhaps sooner than most might have imagined.
The latest news (3/19/13 7:11 pm GMT) is that parliament in Nicosia has declined to go along. The whole thing is in disarray and nobody knows what’s next.
Related:
Take your Money out of the Bank NOW! (includes video)
Financial Warfare 2012: Boycott All Banks
Germany, the Money Power’s Golem in Europe
The Battle for Europe: will the people or the Euro survive?
High Treason: The European Stability Mechanism
Solutions:
The Wolfson Prize, I win!
Debt Repudiation or an Interest Strike?
Mutual Credit, the Astonishingly Simple Truth about Money Creation
The Swiss WIR, or: How to Defeat the Money Power
Social Credit
I agree with your observations.
Germany has profited enormously of course due to the fact that the contry generates 12000 patents per year, while half of Europe including countries like Portugal, Poland, Czech Republic, Bulgaria have a mere pittance of 45 to 100 patents per year. Besides it retained its manufacturing capabilities while countries like the UK and France (both 5000 patents) have been greatly de-industrialized. However only the upper 5% profit from that similar to the US, where some high-level jobs are available while a huge 50% underclass is developing with either the unemployed or working poor on sub-subsistance-level.
Cyprus seems to be a test though. They are already backing off and are talking about including only deposits above 20.000 Euro. It seems to me that they are testing the waters. More countries still have to join the Euro – I see the propaganda campaigns in the media of countries like Czech Republic, Poland and Romania. It is unimaginable to me that they will let the Euro disintegrate and let all the countries become sovereign nations with nationalistic tendencies again – because that would be the result of it!
The Elite were always paranoid and built FEMA-like-concentration camps in the US in the 70s due to fears of an uprising of the black population which never came. Militarization of police is of course an ongoing process before the big culling.
In my opinion we still have years and maybe decades ahead of us with constant financial attrition, austerity on the rise and the dying off of the population through exploding cancer rates and chronic diseases.
I agree with you that the most likely goal of the money power this time is a de-facto European finance ministry and the transfer of the EU-central bank into a FED-like entity. As soon as they get that they might flush the economies again with cheap credit in order to sucker in countries like Switzerland, Sweden, UK, Ukraine etc. All the while Agenda 21, de-industrialization and “free” trade will continue to wreak havoc upon the lower 95%. Testing the waters for the next step on the agenda is normal – if people do not revolt then they do it right away, otherwise they wait for a while.
On another point – it is a bit startling to me, since the mere announcement of the bank tax will in fact produce bank runs in Cyprus and certainly the almost complete transfer of all funds by Russians as well as high-net worth individuals. They might as well go through with the tax right now.
Actually the banking system in Cyprus is pretty much fucked for years now. Probably most banks will need bailouts regardless whether the tax is imposed or not.
They cannot be that stupid not to know that. We will see what they are really up to this time.
http://www.youtube.com/watch?v=N4Q8qmuM3Ks
Since recorded time and since the dawn of man,
There have been three types of men.
The low man to the high man
The rending of the world into three great superstates was long foretold in the halls of men.
A floating fortress guards the secrets of the ocean ways,
Fending the floodgates from the sword of truth.
Since the machine!
The meek and low christen the kingdom’s coming,
Building the great machines of war.
Men feed machines this century of dark coming of the hour of the kingdom of night.
Reponse from Dr. Alimantado… The best-dressed chicken in town… aren’t you proud to be the socially engineered farm animal that you are?
http://www.youtube.com/watch?v=vu97ctxg8hk
Reblogged this on TheFlippinTruth.
The double entry ledger is a wonder to behold. Its mechanics describe the behavior of endogenous “banker credit” and debt spreading. When a bank issues credit, new banker money (BM) pops into existence from nothing while debtor is hypothecated. The person receiving a new loan is debtor, and that same person is also asked to provide some sort of “asset” to back up their new loan. This new debtor is really the creditor…not the bank. Banker doesn’t have money – they don’t debit some “savers” account to make a new loan. Has your savings account ever been reduced to provide a loan to somebody else? Banker creates his BM at the moment of hypothecation; his credit is a low form of money that is issued and pretends to be real money for a period. The period of circulation is cut short, as “debtor” has to contractually pay down their loan, usually monthly. BM’s nature is to disappear from money supply. The additional usury required from loans aggregates as “capital” usury pools within the banking system, thus financing the takeover of governments.
In a devilish twist of logic, debtor borrows their own credit from a banker, and thus puts themselves on a debt hook. During a grabbing foreclosure phase, bankers will acquire the asset formerly hypothecated. In this way, banker creates his BM from nothing, but ends up owning real productive assets. The debt contract is satisfied with a real asset instead of BM. All depressions end as assets are transferred and debt contracts become satisfied, thus allowing a new debt cycle to start.
Suppose we go back in time when banks were not networked. A banker would hypothecate a new debtor, and BM would issue forth. Debtor would then spend his new BM into money supply, where it would spin for a time. As BM is spent into money supply, it transacts deal after deal, as it jumps from person to person. Eventually BM is recalled, by loan pay down, to the same double entry ledger from which it issued. When this BM re-enters the ledger, a positive number meets a negative number of liability, and BM DISAPPEARS from existence.
In the example above, BM went to the same ledger where hypothecation began, as banks were not networked. But, in order for a double entry debt spreading system to work best, banks really need to be networked. BM created on a double entry ledger is contractually required to return to that same ledger. BM must find its way back to its birth home to satisfy double entry debt contracts. In a networked banking system, one bank’s BM is seen the same as another bank’s BM. A networked system, allows BM to be spent in a larger geographic area, yet find its way home. An imbalance occurs when debtor hypothecates BM at one bank, and deposits in another bank.
Bankers use reserve mechanisms in order to settle their imbalances. Bankers intermediate their imbalances on the overnight market, where some sell excess reserves, and others buy those excess reserves.
This relentless drive to make a one currency system is really a function of double entry mechanics. A common currency union, such as the Euro, is sold as a trading panacea – when in actuality “networking” is required for money powers to enhance their double entry “mechanism.” Further enhancement of the system is enabled by owning or influencing governments, paid for with usury capital pools. The end game is one government they can influence or own, thus preserving forever debt spreading and their parasitical wealth transfer position in society.
Cyprus gave away their Sovereignty when they joined the currency union and now they are reaping the whirlwind.
Here’s a REN rule on money: Never let your money extend past your legal system. A corollary would be, never denominate your debt in another currency. The Euro is effectively another currency, as it is not sovereign to Cyprus or their legal system.
It is now official: the parliament voted through some measures including capital controls, the mentioned bank account tax and other measures. It is not surprising that they did not let Cyprus go bankrupt and thus let the bond-holders bleed.
Banks will be sold off at a pittance and other state assets will go the same route.
Actually the protests were nowhere sufficient to let them back off. And of course financial literacy among the public is way too low.
Remains to be seen how much deposits the banks truly need to meet reserve requirements, since the ECB together with the ESM can act like a FED und give unlimited amounts at 0% as emergency funds to make up the difference to all those lowly cash-lovers.
Yes, the financial illiteracy you refer to continues to allow them to wreak havoc.
If you look at the layers even the leaders in the alternative media still have to see through, let alone the man in the street, the Money Power’s situation is really far from desperate.
With hindsight this whole Cyprus thing is a massive provocation. Their strategy is to continue busting the banks, this time by destroying depositor confidence,creating depression. An important part of this is simply consolidation. All the smaller banks are just closed down and their ‘assets’ and markets are picked up by the too big to fail survivors, often with taxpayer or CB funding. We’ll also see more and more nationalization, with resulting zombie banks. Once these manage to off load their balances in tax payer ‘owned’ bad banks they will be returned to their rightful owners, no doubt. Although it might take decades.
Financial illiteracy is of course rampant – especially in academia, since economics majors have practically never heard about real alternative money creation – most are even oblivious to real money creation by the banks. Universities stay away from topics like Silvio Gsell and Woergl as far away as possible, exactly as medical professionals are oblivious to the simplicity and overwhelmingly superior effectiveness of nutrition and orthomolecular medicine and students of electromechanics are equally unaware of existence of simple free energy generation devices.
They picked the smallest country to test-bed the beginning wealth confiscation. The protests in Cyprus just concentrated on the NO to savings confiscations(or some potential bank closings). Actually the bigger danger of the money power would have been to go the way of Island and just let the banks go under or even default on their state bonds.
What better way to avoid that by focusing the anger of the people on something else? In a few weeks politians will boast about their success of having avoided a 40% savings tax for all (as if they really care about the savings of the lower 80%). Meanwhile natural resources are sold off (who knows – maybe way more significant than currently assumed) and bad banks are nationalized to the long-term detriment of the people.
This whole savings confiscation charade might have been just a well-placed ruse. Soon most people will be happy about getting their money back and anything else is fine with them. The Big Scheisters are anything but stupid.
Now more details to Cyprus emerge: http://www.zerohedge.com/news/2013-03-24/meanwhile-cash-exodus-cyprus-surges-despite-bank-closures. Even the FAZ was reporting continuing cash outflows in the hundreds of millions or even billiions even while almost all account holders had no access to their funds! Since there were ample “ecxemptions” in place – spending a 500.000 $ to obtain an excemption to get your 200 mil. $ out is not much of a cost. Besides – it so happened that billions left the country in January and February.
Not surprising – the really rich are able to save their cash while the moderately wealthy get fleeced.
Most of the shmucks below 100.000 Euro savings will lose their money in the decades ahead by taxes, new Agenda-21-fees and stagflation with rising unemployment.
“Supporting People and the Commonwealth and resisting the Money Power by defeating Usury.”
Which “Money Power” are you specifically against? The individuals with private wealth behind the Bank for International Settlements and the Financial Stability Board? Or the individuals with private wealth behind one of the 162 private central banks in the world?
The Banking System is One John: http://realcurrencies.wordpress.com/2012/03/07/understand-that-the-banking-system-is-one/
the CB’s, private banks ,BIS, the IMF, it’s one big, global system.
Thanks for clarifying. From your link… “We should be busy deserting the system and building new, really free and independent currencies instead.
Aren’t these same wealth interests (the One System) organizing and supporting really “free” and “independent” currencies, as well? For example, BitCoin has strong support from banks. The Elites have also documented their desire for new local, regional and global currencies.
How does your plan or goal differ? High-level strategy is okay.
The elite does not want competing currencies, they are co-opting them. This is most certainly a very serious and worrying development, which I’m montoring closely.
The issue is usury. Per year the richest 10% get anywhere between 5 to 10 trillion from the poorest 80% globally, annually.
So we need interest-free currencies, which Bitcoin is not. Bitcoin is also incredibly deflationary by nature, which is very much their wet dream.
We need abundant, cheap currencies.
Hi Anthony,
Based on my research on this matter, this plan appeasr to have been in the works for some time. For example, from the IFTF (dated 2010) —
http://www.iftf.org/future-now/article-detail/the-great-recession-and-community-currencies/
My belief is that these local and regional currencies will be backed by gold in some manner, to begin with, to give them credibility. Later, the gold exchange window will close, once a currency is established. Then the fiat games will once again begin the cycle of boom-bust in order to prevent wealth and power from accumulating in the “incorrect” hands.
Ultimately, these currencies will be tied to carbon emissions at the individual level.
Given the level of social engineering that’s expected to be backing this effort, I’m certain there will be some resistance — though of little consequence — to these plans. Welcome again to the dog-and-pony show. Wash, rinse, repeat. It’s been working for decades — what’s to stop it?
Unless there’s a plan to stop the social engineering, I’m not so sure any functional opposition is possible. How does one remove two TV’s from every household in the Western world?
The money power always finances a suitable opposition as well, but it will never be free of course and certainly not interest free. Actually with sufficiently high technological development you could do away with money altogether or use it only as a resource allocation tool – so as to avoid someone’s useless accumulation of 100 TVs at home.
Besides – if you study their own writings well (Jacques Attali – A brief history of the future, US Army and Intelligence high level docs until 2050 [lots of that], The next million years by Charles Galton Darwin etc.) – you realize that they intend to converge the countries into 3 or more blocks and then into one world government. However even that is only an intermediary goal. In the end they intend to build Elite City States which might even have their own currencies and be independent of each other.
They never specify why they wish to do that, but my guess is that in each City State one family will reign absolute – no sharing of power whatsoever. Now they all cooperate out of necessity, but then it will be like the old fiefdoms where the master could do absolutely anything.
And the end goal of currency is more or less a credit-based system where you cannot even save up anything and no real private property is allowed (renting of everything) – all funds are deleted at the end of the week and your pay is based upon your position in the hierarchy.
But that is still decades away in their own 50-100-200-year-old business-plans. We will see whether it works out for them.
interesting. I hadn’t heard of these cities yet.
>>>> their own writings well (Jacques Attali – A brief history of the future, US Army and Intelligence high level docs until 2050 [lots of that], The next million years by Charles Galton Darwin etc.) — you realize that they intend to converge the countries into 3 or more blocks and then into one world government.
Millions of people (along with me) learned of this in elementary school (they did not pay attention, and did not believe it)
the history of the 20th century, only the names have been changed to protect the ignorant—
http://archive.org/details/IsaacAsimov-TheFoundationTrilogy
http://4.bp.blogspot.com/-sUd37PpCKcQ/ToipFsg_cnI/AAAAAAAABko/lQ0ZtqCKZck/s1600/michael+whelan_isaac+asimov_foundation.jpg
>>>>> rampant financial illiteracy
90% of the population is rampantly illiterate regarding
plumbing
raising corn
raising pigs
car repair
carpentry
………….
so we can’t expect the population in general be ‘literate’ in banking and conspiracy; the illuminati, on the other hand, is very literate in organizing conspiracy and society
================
The father of greenbacks—
http://www.yamaguchy.com/library/spaulding/erskine.html
one contemporary observation—
http://www.yamaguchy.com/library/uregina/124.html
The Gould plan for a central bank, when Jackyll island was no man’s land and Paul Warburg in diapers—
http://www.yamaguchy.com/library/uregina/123.html
Education of course was always a means of indoctrination. Back in the 19th century the elite was even a bit hesitent about the people becoming literate. What if they would read books that would show them too much truth? They immediatelly produced the so-called Penny Dreadfuls or Dime Novels to give the people some useluss junk to read.
Education should always stifle creative independent thinking and avoid certain topics. It always amazed me that even good high-schools left out the bare minimum of financial knowledge. I do not talk about the ability to calculate the exact money supply or international merger transactions. I am talking about bare essential knowledge: how to use proper individual financial planning, how to avoid and recognize the biggest scams (ponzi, fraud etc.), how money is best created by a state or community (that one would spoil a generation to the money power) etc. Also how to think independently, how to take care of your body – orthomolecular medicine and nutrition is a lot simpler than the current treatments – can be taught easily in school. Those topics have tremendous influence upon each individual’s life – people could use that knowledge every day creating a better and healthier life – plumbing and raising pigs not so much. Knowing about it helps – it is in my opinion as essential as reading and bar minimum mathematics. And no high intelligence is really necessary for that – can be taught in the worst of schools – though intelligence itself is epi-genetically changed through nutrition over generations (crucial periods pregnancy and first 5 years up until 10), but they know that too….
But of course the money-power is working excellently at obfuscating those facts and dumbing down the people – intelligent people are just put on faster train-tracks and ushered along pre-selected lines.
Thanks for the links – SF has plenty of writers who knew a lot about the real plans for the world. Gotta read that one. Also interesting the other sources – shows you how far ahead the plans go and how little the average history teacher knows. And they publish so much, that H.G. Wells called it The Open Conspiracy in one of his non-fiction books with the same title: http://www.voltairenet.org/IMG/pdf/Wells_The_Open_Conspiracy.pdf – very informative this one.
1st foundation == a military industrial complex (U.S.)
2nd foundation == a secret society, using thelepathy to organize and guide events from behind the scene to achieve a long-planned goal: world empire (Illuminati)
The Mutant == a man using the methods of the 2nd foundation to achieve his own goal, to establish his own empire (Joe Stalin, using the methods and organization of illuminati [socialism, internationalism, international] to set up a world empire under his command)
The General == who was used by the 2nd foundation to attack the Mutant in the physical (Adolf Hitler), while the 2nd foundation attacked him in the non-physical; the Mutant was unable to overcome both at the same time — Joe Stalin lost on the battle field, and he lost the control of the field of ideas and the world revolution
And Isaac Asimov saw this in 1947 !!! he must have been a genius with genuine inside information
(40 years later a new generation of Trotsky-ites took back the soviet union on their own term)
Yup – Asimov seems to be one of those in-the-know writer-stooges – others like H.G. Wells, Philip K. Dick, even Jules Verne are confirmed freemasons and they blatantly display their inside information as well. He also was a close associate of Gene Roddenberry. The title foundation is already quite telling together with the family-clan-rulerships.
When I was younger I was unaware of all the predictive programming and almost impossible predictions in SF.
Foreseeing the fall of the communist block is something that the upper echelon knew all along. Even the documents of the Reece Commission actually more or less told you so. Thanks to Charlotte Iserbytt and her son’s http://www.americandeception.com you can download the whole 5000 pages. Many other gruesome goodies on that site….
This is another interesting short piece from Asimov about spiritual parasites living on humans:
http://www.yamaguchy.com/images/Hostess.mp3
=====
>>>>When I was younger I was unaware
which one of us could have imagined that within our life time SF becomes reality…..
when i heard in school that ‘socialism will first become reality in the technologically most advanced capitalist countries; then these socialist countries will join in a world government’ i thought nothing of it; but when in 1990 i looked around Europe and saw that members of the Common Market were all socialist countries and now joining a socialist united states of europe…….
>>>>>documents of the Reece Commission
The Commission on Industrial Relations, under the Act of Congress, of August 23, 1912, examined the Foundations. Hearings took place in 1915 –Chairman Senator Frank P. Walsh–, a great number of prominent witnesses appeared and testified (Louis D. Brandeis, Samuel Untermayer, John D. Rockefeller, jr., &c).
Asked whether he [John D. Rockefeller] saw any danger in interlocking directorates of foundations, he replied: “I should think on the other hand there might be a great strength in that,” and generally spoke in favor of multiple services of the same persons as directors of several foundations.
In discussing the Rockefeller Foundation, President Schurman of Cornell –himself a trustee of The Carnegie Foundation–, said that one of these tax-exempt organizations was free to participate in practically any activity concerning the life and work of the nation, with the exception of activities for profit. Among the permitted foundation activities he listed: defense of the Republic in time of war; economic and political reforms which the trustees deem essential to the vitality and efficiency of the republic in time of peace; championship for free trade or protectionism; advocacy of socialism or individualism; underwriting the respective programs of the Republican or the Democratic parties; introduction of Buddhism in the United States.
Asked about the power of foundations to influence independent thought and action in the investigation of social conditions, Mr. Rockefeller said there should be no public restrictions. He contended that proper selection of directors would sufficiently protect the public interest and that the financial power of large foundations would be felt only in the realm of investment. He advocated academic freedom and complete independence in the use of grants by recipient educational institutions of higher learning.
Chairman Walsh was concerned lest the granting of funds for schools might result in “persons being educated taking the viewpoint, consciously or unconsciously, of the man that gave the money or the foundation that gave the money.” Mr. Rockefeller answered: “There is a possible danger, if the giver retains any kind of control; I think it unwise.” Regarding other forms of education, however, he considered continued help in developing the middle school system as desirable and as involving much more remote danger.
Mr. Basil M. Manly –director of research of the Commission of Industrial Relations– prepared the Report for the majority of the Commission, and saw that the domination by the men, in whose hands the financial control of a large part of American industry rests, is rapidly extending to the control over the education and the ‘social service’ of the Nation:—
The control is being extended largely through the creation of enormous privately managed funds for indefinite purposes, hereinafter designated “foundations,” by the endowment of colleges and universities, by the creation of funds for pensioning teachers, by contributions to private charities, as well as through controlling or influencing the public press. The funds of these foundations are exempt from taxation, yet during the life of their founders are subject to their dictation for any purpose other than commercial profit. In the case of the Rockefeller group of foundations, the absolute control of the funds and of the activities of the institutions now and in perpetuity rests with Mr. Rockefeller, his son, and whomsoever they may appoint as their successors. The control of these funds has been widely published as being in the hands of eminent educators and publicly spirited citizens. In the case of the Rockefeller foundations, however, the majority of the trustees of the funds are salaried employees of Mr. Rockefeller or the foundations, who are subject to personal dictation and may be removed at any moment.
—[today we may see where the monies of pension funds of teacher federations are invested (bonds, banks, monopolies)
On the 1912 commission concerning foundations:
Wow – did not know that there was another commission before the Reece one in the 50s. Some people obviously had more reason than now.
Amazing is the huge array of permitted activities. Funny was that the Rockefeller foundation had still perfect ownership of the companies it was split up into. Just as the Bill Gates foundation retains ownership of Microsoft shares. And the media selling it as giving it all to “charity”.
Nowadays ownership structures can be hidden far more effectively with tax havens, shell companies, funds of funds, offshore hedge funds, foundations starting thousands of think tanks, NGOs and other foundations etc.
However they did not seem to have been granted access to some foundation’s archives like during the Reece foundation. That poor young female lawyer that was allowed access to the Ford foundation archives was later treated at a mental institute for some time. I guess they also amassed some more juicy correspondence concerning the planning and execution of WWI and WWII.
Also interesting about JD Rockefeller was that he had a personal holistic homeopathic doctor while he practically financed the powerful allopathic medical universities and thus pushed the alternative schools and universities of the day (homeopathy and herbal medicine) out of existence.
Wonderful – Rockefeller – who sometimes gunned down his competition during his hay-day – is one of the big founders of our current medical system.
Carroll Reece papers—
http://www.etsu.edu/cass/archives/Collections/afindaid/a3.html
Update on that legal theft:
http://www.bloomberg.com/news/2013-04-04/unicredit-s-ghizzoni-favors-using-big-deposits-in-bank-failures.html
They already termed the Cyprus-rip-off BAIL-IN and are looking to implement the measure in the EU but also in Canada!
The EU-SSR is doing it in a dictatorial fashion while Canada is hiding some “amendments” in some New Economic Action Plan 2013:
http://www.zerohedge.com/contributed/2013-03-30/canadian-government-offers-bail-regime-prepares-confiscation-bank-deposits-ba
Ah – how wonderful it sounds – just a little bail-in before the big bail-out and the huge nationwide austerity-measures (you know – cutbacks, pension cuts, health care cuts (might be partly good, but they also let you pay for broken bones and accidents), more depression….)
Austerity is a way of life – Climate Change is not enough to fool the people into going along with getting poorer – they’ve all had it too good! Ah – it is really funny if you look at it – this money scam confiscating real wealth by creating a bunch of bits and bites and now going for wealth of the upper 20%. The lower 80% will be austere soon enough.
The Euro has essentially been split in two. There is the Cyprus Euro and the Everywhere Else Euro. Currency trapped in Cypriot banks is subject to capitol controls and export restrictions. While there are some aspects unique to Cyprus, there are important lessons to be learned and warnings to be heeded.
http://twarr1.blogspot.com/2013/04/cyprus-crisis-lessons-for-us.html