From the earliest days, our Founding Fathers have been conscious of attempts to control America through money manipulation, and they carried on a running battle with the international bankers. Thomas Jefferson wrote to John Adams: “…I sincerely believe, with you, that banking establishments are more dangerous than standing armies…” A couple of central banks were established and then were disbanded when their charters were not renewed by Congress during the first 150 years of the United States of America. Most were established after we amassed massive debt during our early wars and led to massive inflation. Aside from the major Eastern centers, most American bankers and their customers sill distrusted the whole idea of central banks. In fact, Benjamin Franklin claimed that the passage of the Currency Act of 1764 by the British Parliament which put the end to the interest free money (Colonial Script) being printed by the various colonies as a major contributor to the American Revolution.
In order to show the public at large that they needed a central banking system, the international bankers created a series of panics as a demonstration of their power. The man at the head of these treacherous operations was J. Piermont Morgan, an American-born, European educated, banker. Morgan is refered to by many, including Congressman Louis McFadden (a banker who for ten years headed the House Banking and Currency Committee), as the top American agent of the England Rothschild’s. By the turn of the century J.P. Morgan was already a seasoned pro when it came to creating artificial panics. Such affairs were elaborate and well-coordinated. Senator Robert Owen, a co-author of the Federal Reserve Act (who later deeply regretted his role), testified before a Congressional Committee that the bank he owned received a message from the National Bankers’ Association what came to be known as the ”Panic Circular of 1893.” It stated: ”You will at once retire one-third of your circulation and call in one-half of your loans…” It is also historically accepted that Morgan played a role in the panic of 1907 by spreading rumors about the insolvency of the Knickerbocker Bank and The Trust Company of America.
All of this helped to frame that the U.S. was gravely in need of a central banking system…The man who was most responsible for this lead-up and propaganda was Paul Warburg. Paul and his banker brother Felix immigrated to the United States from Germany in 1902. Interestingly, they left their brother Max (later a major financier of the Russian Revolution) at home in Frankfurt to run their family bank of M.N. Warburg & Company. In America, powerful banking families were united. Paul Warburg joined into America’s most powerful international banking firm-Kuhn, Loeb and Company-by marrying Lisa, the daughter of Solomon Loeb. Brother Felix married Frieda Schiff, the daughter of Jacob Schiff, who was the ruling party behind Kuhn, Loeb. Both brothers then became partners in Kuhn, Loeb and Company.
Beginning in 1907, the year of the Morgan precipitated panic, Paul Warburg set out on a six-year mission of writing and lecturing on the need for banking reform–all this while on the Kuhn, Loeb and Company bankroll of $500,000 per year! The person who worked very closely with Warburg during this time was the man known as “Morgan’s floor broker in the Senate”, Nelson Aldrich–Yes, the same Aldrich whose daughter married John D. Rockefeller. After the panic of 1907, the Senate created the National Monetary Commission to study central banking. Although he had NO technical knowledge of the banking, Nelson Aldrich was appointed to head this group and then spent the next two years and $300,000 taxpayer dollars’ touring the European continent with his entourage while being wined and dined by the owners of Europe’s leading central banks. When the Commission returned from its luxurious junket it did not hold a meeting or issue a report for nearly two years. What happened next went down in history as one of the most important secret meetings in the history of the United States.
