PROFIT OVER PEOPLERESOURCE EXTRACTION AND STRUCTURAL ADJUSTMENT:
GLOBALIZED IMMISERATON OF THE POOR AND THE VULNERABLE
GLOBALIZED IMMISERATON OF THE POOR AND THE VULNERABLE
"A 2008 study from the University of Massachusetts examined the capital flight from forty African countries from 1970 to 2004.
Real capital flight over the 35-year period amounted to about $420 billion (in 2004 dollars) for the 40 countries as a whole. Including imputed interest earnings, the accumulated stock of capital flight was about $607 billion as of end-2004.
... The total external debt of these countries was 'only' $227 billion. So, Africa is a net creditor to the rest of the world, with its net external assets vastly exceeding its debts. Yet there is a crucial difference between the assets and the liabilities: The subcontinent's private external assets belong to a narrow, relatively wealthy stratum of its population, while public external debts are borne by he people through their governments."
Real capital flight over the 35-year period amounted to about $420 billion (in 2004 dollars) for the 40 countries as a whole. Including imputed interest earnings, the accumulated stock of capital flight was about $607 billion as of end-2004.
... The total external debt of these countries was 'only' $227 billion. So, Africa is a net creditor to the rest of the world, with its net external assets vastly exceeding its debts. Yet there is a crucial difference between the assets and the liabilities: The subcontinent's private external assets belong to a narrow, relatively wealthy stratum of its population, while public external debts are borne by he people through their governments."
Nicholas Shaxson in his book "Treasure Islands: Tax Havens and the Men Who Stole the World"
"Africa is extremely rich in many resources, from agriculture to oil, minerals, and a huge variety of other resources used all around the world. If African nations were able to develop their own economies, use their own resources, and create their own industries and businesses, they could become self-sufficient at first, and then may become a force of great competition for the established industries and elites around the world. After all, Europe does not have much to offer in terms of resources, as the continent's wealth has largely come from plundering the resources of regions like Africa, and in becoming captains of monetary manipulation. A revitalized, vibrant, economically independent and successful Africa could spell the end of Western financial dominance. "
Andrew Gavin Marshall
"Masquerading as the advocate of human rights and liberal democracy, the global economic and political order being imposed in the name of globalization and free markets seeks to establish a virtual monopoly of multinational corporations that are destructive to people and the physical environment."
Social Justice magazine, 2000
"The rise of Third World lending in the 1970s and 1980s laid the foundations for a global tax haven network that now shelters the world's most venal citizens.
... In the 1970s and 1980s at least half of the money borrowed by the largest Third World debtor countries flowed right out again under the table, usually in less than a year, and typically in just weeks. Third World public debts were matched almost exactly by the stock of private wealth their elites had accumulated in the US and other havens."
... In the 1970s and 1980s at least half of the money borrowed by the largest Third World debtor countries flowed right out again under the table, usually in less than a year, and typically in just weeks. Third World public debts were matched almost exactly by the stock of private wealth their elites had accumulated in the US and other havens."
Nicholas Shaxson in his book "Treasure Islands: Tax Havens and the Men Who Stole the World"
"When the World Bank and the International Monetary Fund lend money to debtor countries, the money comes with strings attached. These strings come in the form of policy prescriptions called 'structural adjustment policies.' These policies require debtor governments to open their economies to penetration by foreign corporations, allowing access to the country's workers and environment at bargain basement prices. Structural adjustment policies mean across-the-board privatization of public utilities and publicly owned industries. They mean the slashing of government budgets, leading to cutbacks in spending on health care and education. And, as their imposition in country after country in Latin America, Africa, and Asia has shown, they lead to deeper inequality and environmental destruction."
Global Exchange
"America can't let us stay in power. We are the exception to the new globalization order. If we succeed, we are an example to all the Americas."
Venezuelan President Hugo Chavez's minister Miguel Bustamante Madriz
"Today corporate globalization needs an international confederation of loyal, corrupt, authoritarian governments in poorer countries to push through unpopular reforms and quell the mutinies. It needs a press that pretends to be free. It needs courts that pretend to dispense justice."
"Since the 1980s, it is mainly the Structural Adjustment Programs (SAPs) of the World Bank and the IMF that act as the enforcers of neoliberalism. These programs are levied against the countries of the South which can be extorted due to their debts. Meanwhile, numerous military interventions and wars help to take possession of the assets that still remain, secure resources, install neoliberalism as the global economic politics, crush resistance movements, and facilitate the lucrative business of reconstruction."
Claudia von Werlhof
"Beginning in the late 1970s, the World Bank and IMF mandated a shift away from industrialization toward economies based solely on the export of raw materials and agricultural products. Loans were now to be used as leverage to impose what were called Structural Adjustment Programs (SAPs), that mandated slashing social spending, eliminating price subsidies and trade tariffs, and privatizing government-owned industries and services-all in order to pay down foreign debt."
Lena Weinstein
"After the brutal Nigerian president Sani Abacha died in 1998, it was revealed that he had skimmed off billions of dollars of oil money. Two countries in particular soaked up his embezzled wealth - Britain and Switzerland."
Nicholas Shaxson in his book "Treasure Islands: Tax Havens and the Men Who Stole the World"
"The neoliberal global system never was open in practice. America never imposed on itself the kind of shock therapy that President Clinton's Treasury Secretary Robert Rubin promoted in Russia and the rest of the former Soviet bloc, from the Baltic countries in the northwest to Central Asia in the southeast. Just the opposite! Despite the fact that America's own balance of trade and payments is soaring, consumer prices are rising and financial and property markets are plunging, there are no calls among its power elite to let the system self-correct. The Treasury is subsidizing America's financial markets so as to save its financial class and support its asset prices. Interest rates are being lowered to re-inflate asset prices, not raised to stabilize the dollar or slow domestic price inflation."
Michael Hudson and Jeffrey Sommers
"The entire thirty-year history of he Chicago School experiment has been one of mass corruption and corporatist collusion between security states and large corporations, from Chile's piranhas, to Argentina's crony privatizations, to Russia's oligarchs, to Enron's energy shell game, to Iraq's "free fraud zone." The point of shock therapy is to open up a window for enormous profits to be made very quickly-not despite the lawlessness but precisely because of it."
Naomi Klein in her book "The Shock Doctrine: The Rise of Disaster Capitalism"
"The Latin American debt crisis ... erupted as a direct result of [US Federal Reserve Chairman Paul] Volcker's interest rate shock therapy. In August 1982 Mexico announced it could no longer pay the interest on its staggering dollar debt. Mexico, along with most of the Third World from Argentina to Brazil, from Nigeria to Congo, from Poland to Yugoslavia, had fallen for the New York banks' debt trap."
F. William Engdahl in his book "Gods of Money"
"Along with former Federal Reserve chairman Paul Volcker; Citibank vice-chairman H. Anno Ruding, who was formerly with the IMF; and Harvard Professor Jeffrey Sachs, George Soros had a big hand in creating the Polish model of "shock therapy." [Sachs drew Soros's attention through his work in implementing IMF-style "shock therapy" in Bolivia.]"
Executive Intelligence Review Special Report, April 1997
"The Communist state was simply replaced with a corporatist one: the beneficiaries of the boom were confined to a small club of Russians, many of them former Communist Party apparatchiks, and a handful of Western mutual fund managers who made dizzying returns investing in newly privatized Russian companies. A clique of nouveaux billionaires, many of whom were to become part of the group universally known as "the oligarchs" for their imperial levels of wealth and power, teamed up with Yeltsin's Chicago Boys and stripped the country of nearly everything of value, moving the enormous profits offshore at a rate of $2 billion a month. Before shock therapy, Russia! had no millionaires; by 2003, the number of Russian billionaires had risen to seventeen, according to the Forbes list.
... By 1998, more than 80 percent of Russian farms had gone bankrupt, and roughly seventy thousand state factories had closed, creating an epidemic of unemployment. In 1989, before shock therapy, 2 million people in the Russian Federation were living in poverty, on less than $4 a day. By the time the shock therapists had administered their "bitter medicine" in the mid-nineties, 74 million Russians were living below the poverty line, according to the World Bank. That means that Russia's "economic reforms" can claim credit for the impoverishment of 72 million people in only eight years. By 1996, 25 percent of Russians - almost 37 million people-lived in poverty described as "desperate."
Russia's population is ... in dramatic decline-the country is losing roughly 700,000 people a year. Between 1992, the first full year of shock therapy, and 2006, Russia's population shrank by 6.6 million."
... By 1998, more than 80 percent of Russian farms had gone bankrupt, and roughly seventy thousand state factories had closed, creating an epidemic of unemployment. In 1989, before shock therapy, 2 million people in the Russian Federation were living in poverty, on less than $4 a day. By the time the shock therapists had administered their "bitter medicine" in the mid-nineties, 74 million Russians were living below the poverty line, according to the World Bank. That means that Russia's "economic reforms" can claim credit for the impoverishment of 72 million people in only eight years. By 1996, 25 percent of Russians - almost 37 million people-lived in poverty described as "desperate."
Russia's population is ... in dramatic decline-the country is losing roughly 700,000 people a year. Between 1992, the first full year of shock therapy, and 2006, Russia's population shrank by 6.6 million."
Naomi Klein in her book "The Shock Doctrine: The Rise of Disaster Capitalism"
"The aim of Washington's IMF "market reforms" in the former Soviet Union was brutally simple: destroy the economic ties that bound Moscow to each part of the Soviet Union .... IMF shock therapy was intended to create weak, unstable economies on the periphery of Russia, dependent on Western capital and on dollar inflows for their survival -- a form of neocolonialism .... The Russians were to get the standard Third World treatment... IMF conditionalities and a plunge into poverty for the population. A tiny elite were allowed to become fabulously rich in dollar terms, and manipulable by Wall Street bankers and investors."
William Engdahl in his book" A Century of War"
"Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization."
John Perkins in his book "Confessions of Economic Hit Man"
"The country has been intentionally plundered and will eventually wind up in the hands of its creditors... After a nation is successfully driven to destitution, public policy decisions are made by creditors and not by representatives of the people .... The catastrophe that middle class Americans face is what these elites breezily refer to as "shock therapy"; a sudden jolt, followed by fundamental changes to the system. In the near future we can expect tax reform, fiscal discipline, deregulation, free capital flows, lowered tariffs, reduced public services, and privatization."
Mike Whitney
"For over 40 years, Washington had quietly supported Yugoslavia, and the Tito model of mixed socialism, as a buffer against the Soviet Union. As Moscow's empire began to fall apart, Washington had no more use for a buffer - especially a nationalist buffer which was economically successful, one that might convince neighboring states in eastern Europe that a middle way, other than IMF shock therapy, was possible. The Yugoslav model had to be dismantled, for this reason alone, in the eyes of top Washington strategists. The fact that Yugoslavia also lay on a critical path to the potential oil riches of central Asia merely added to the argument."
William Engdahl in his book" A Century of War"
"The World Bank and the International Monetary Fund began to tie loans to "structural adjustment" programs, which channeled more of the debtor country's financial and productive resources toward debt repayment.
... Structural adjustments were originally imposed on an ad hoc basis upon individual nations when it appeared that they could not keep up with existing debt payments. By 1985, fifteen debtor nations had been subjected to SAPs, and by 1991, a quarter of the World Bank's total lending was tied to structural adjustment in 54 nations. As more of the "debtor" nations' dwindling resources went to debt service, new loans were simply used to repay previous loans, and the total debt of the low income nations more than quadrupled from $100 to $473 billion between 1980 and 1992. World Bank and IMF "reforms" continued, and by the mid-1990s, more than a hundred countries and 80 percent of the world's population had been "structurally adjusted." The average developing nation's debt payments were a third of its gross national product.
... When no more money or exports can be squeezed from the poor, selling state-owned companies to Northern corporations becomes an option... Once again, a handful of multinational corporations are the beneficiaries.
Structural adjustment proved to be such a useful tool for leveraging corporate power that it was time to make it a permanent part of the global economy, and that is just what the international trade treaties of the 1990s have done - codified the elements of structural adjustment into international law."
... Structural adjustments were originally imposed on an ad hoc basis upon individual nations when it appeared that they could not keep up with existing debt payments. By 1985, fifteen debtor nations had been subjected to SAPs, and by 1991, a quarter of the World Bank's total lending was tied to structural adjustment in 54 nations. As more of the "debtor" nations' dwindling resources went to debt service, new loans were simply used to repay previous loans, and the total debt of the low income nations more than quadrupled from $100 to $473 billion between 1980 and 1992. World Bank and IMF "reforms" continued, and by the mid-1990s, more than a hundred countries and 80 percent of the world's population had been "structurally adjusted." The average developing nation's debt payments were a third of its gross national product.
... When no more money or exports can be squeezed from the poor, selling state-owned companies to Northern corporations becomes an option... Once again, a handful of multinational corporations are the beneficiaries.
Structural adjustment proved to be such a useful tool for leveraging corporate power that it was time to make it a permanent part of the global economy, and that is just what the international trade treaties of the 1990s have done - codified the elements of structural adjustment into international law."
George Draffan in his book "The Elite Consensus"
"The IMF and World Bank are the chief pushers of the whole scheme of structural adjustments that are designed to further open up the Third World economies for penetration and plunder by private monopoly corporations. We call for the abrogation of all loan agreements that provide for structural adjustment, public assumption of private debts and the further exposure of the Third World economies to plunder by private multinational giants."
Cebu Declaration, Philippine-Asia Jubilee Campaign Against the Debt, May 18, 1999, Cebu City, Philippines
"The debt is used as a justification to maintain neoliberal policies, including what are known as structural adjustment programs, as institutional mechanisms to perpetuate a state of dependence. Bail-out programs by creditors, with the support of the International Monetary Fund and the World Bank have only served to ensure the continuity for mechanisms to keep countries deep in debt."
Tegucigalpa Declaration, Latin American and Caribbean Jubilee 2000 Platform, Tegucigalpa, Honduras, January 27, 1999
"By the 1980s, U.S. policymakers were rejecting the view that a more prosperous, economically independent Third World would serve the interests of U.S. capitalism. And once there no longer was a competing socialist world to which Third World leaders might threaten to turn, the United States felt freer than ever to undo any kind of autonomous development in Asia, Africa, and Latin America. One rollback weapon is the debt. In order to meet payments and receive new credits from the US-dominated World Bank and International Monetary Fund (IMF), Third World governments have had to agree to merciless "structural adjustment programs," including reductions in social programs, cuts in wages, the elimination of import controls, the removal of restrictions on foreign investments, the privatization of state enterprises, and the elimination of domestic food production in favor of high profit export crops."
Michael Parenti
"Structural adjustment imposed by the World Bank and IMF have brought disaster to the working poor of as many as 100 countries, forced to open their markets to a flood of cheap imports while the rich refuse to abandon their subsidies, quotas and high tariffs. The result is brutal suppression of wages and living standards and elimination of social programs."
Noam Chomsky in his book "Year 501"
"The IMF imposes strict conditions on debtor nations that force them to concentrate on producing cheap exports in order to increase foreign reserves needed to pay interest on their debt. These structural adjustment programs include currency devaluation, reduced wages, cutbacks to social programs, and reliance on the market system. All of these programs benefit creditor nations such as the United States at the expense of the debtor nations."
David Model in his book "Lying for Empire"
"By 1998, more than 80 percent of Russian farms had gone bankrupt, and roughly seventy thousand state factories had closed, creating an epidemic of unemployment. In 1989, before shock therapy, 2 million people in the Russian Federation were living in poverty, on less than $4 a day. By the time the shock therapists had administered their "bitter medicine" in the mid-nineties, 74 million Russians were living below the poverty line, according to the World Bank. That means that Russia's "economic reforms" can claim credit for the impoverishment of 72 million people in only eight years. By 1996, 25 percent of Russians - almost 37 million people-lived in poverty described as "desperate.""
Naomi Klein in her book "The Shock Doctrine"
"The World Trade Organization, the World Bank, the International Monetary Fund and other financial institutions virtually write economic policy and parliamentary legislation. With a deadly combination of arrogance and ruthlessness, they take their sledgehammers to fragile, interdependent, historically complex societies and devastate them, all under the fluttering banner of 'reform'."
Arundhati Roy
David Rockefeller
David Rockefeller
ROCKEFELLERSIMMENSELY WEALTHY AND POWERFUL - MADE IN AMERICA
"The way to make money is to buy when blood is running in the streets."
John D. Rockefeller, Founder, Standard Oil
"We are grateful to the Washington Post, the New York Times, Time magazineDavid Rockefeller
ROCKEFELLERSIMMENSELY WEALTHY AND POWERFUL - MADE IN AMERICA
"The way to make money is to buy when blood is running in the streets."
John D. Rockefeller, Founder, Standard Oil
"We are grateful to the Washington Post, the New York Times, Time magazine, and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years. It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But the world is now more sophisticated and prepared to march towards a world government. The supra-national sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries."
David Rockefeller - Council on Foreign Relations, June 1991
"Some believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as "internationalists" and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will. If that's the charge, I stand guilty, and I am proud of it."
David Rockefeller in his "Memoirs"
"The combined wealth of the Rockefeller family in 1998 was approximately (US) $11 trillion."
Gaylon Ross Sr. author of the book "Who's Who of the Global Elite"
"Before World War I, the financial and business structure of the United States was dominated by two conglomerates: Standard Oil or the Rockefeller enterprise, and the Morgan complex of industries, finance and transportation companies. Rockefeller and Morgan trust alliances dominated not only Wall Street but, through interlocking directorships, almost the entire economic fabric of the United States."
Antony C. Sutton in his book "Wall Street and the Bolshevik Revolution", 1974
"In 2000, J.P. Morgan merged with Chase Manhattan, leading to the integration of J.P. Morgan, Chase, Chemical and Manufacturers Hanover into a single financial entity. Bear Stearns was acquired in 2008 by J.P. Morgan Chase following its collapse. This banking empire controlled by the Rockefeller family has assets of more than 1.6 trillion dollars."
Michel Chossudovsky
"In the 1960's economist Peter Dooley identified fifteen major financial groups in the US. The Rockefeller/Morgan group dwarfed the other fourteen. It controlled five of six of the mega-banks [Bank of America was controlled by the Rothschilds]"
Dean Henderson in his book "Big Oil & Their Bankers In The Persian Gulf"
"For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century."
Carroll Quigley
"The Rockefeller Foundation, working with John D. Rockefeller Ill's Population Council, the World Bank, the UN Development Program and the Ford Foundation, and others had been working with the WHO [World Health Organization] for 20 years to develop an anti-fertility vaccine using tetanus as well as with other vaccines."
F. William Engdahl
"In the early 1900's, the Rockefeller and Carnegie families paid two men to create a devious scheme that would forever change the construct of medical schools. The Flexner report, written by Pritchett, concluded that only medical schools that committed to using synthetic based medicines and avoided plant based treatments (homeopathic and naturopathic protocols) should be offered large grants that were created by Rockefeller and Carnegie. From that point forward, only medical schools philosophically aligned with petrochemical companies would become successful in graduating medical physicians. Presently, the same petrochemical companies have great influence and control over most components associated with modern medicine. The Rockefeller family and its far-reaching tentacles, that can be traced directly to the petrochemical and banking industries, have a great deal of influence regarding curricula as well as other important elements embedded within the modern medical institutions of higher learning."
Dr. John Reizer
"The entire Rockefeller empire was financed by the Rothschilds."
Eustice Mullins in his book "World Order"
"The Rockefellers and Rothschilds have been partners ever since the 1880s."
David Allen Rivera in his book "Final Warning: A History of the New World Order, 2010
"David Rockefeller is the most conspicuous representative today of the ruling class, a multinational fraternity of men who shape the global economy and manage the flow of its capital ... Private citizen David Rockefeller is accorded privileges of a head of state ... He is untouched by customs or passport offices and hardly pauses for traffic lights."
journalist Bill Moyers in a TV documentary "The Secret Government", 1980
"John D. Rockefeller was a Machiavellian who boasted that he hated competition. Whenever he could, Rockefeller used the government to promote his own interests and to hinder his competitors. Monopoly capitalism is impossible unless you have a government with the power to strangle would-be competitors.
The easiest way to control or eliminate competitors is not to best them in the marketplace, but to use the power of government to exclude them from the marketplace. If you wish to control commerce, banking, transportation, and natural resources on a national level, you must control! the federal government. If you and your clique wish to establish worldwide monopolies, you must control World Government."
Gary Allen in his book "The Rockefeller File"
"Eugenics was the racist pseudoscience determined to wipe away all human beings deemed 'unfit,' preserving only those who conformed to a Nordic stereotype.
... Eugenics would have been so much bizarre parlor talk had it not been for extensive financing by corporate philanthropies, specifically the Carnegie Institution, the Rockefeller Foundation and the Harriman railroad fortune... The Rockefeller Foundation helped found the German eugenics program and even funded the program that Josef Mengele worked in before he went to Auschwitz."
Edwin Black, 2003
The easiest way to control or eliminate competitors is not to best them in the marketplace, but to use the power of government to exclude them from the marketplace. If you wish to control commerce, banking, transportation, and natural resources on a national level, you must control! the federal government. If you and your clique wish to establish worldwide monopolies, you must control World Government."
... Eugenics would have been so much bizarre parlor talk had it not been for extensive financing by corporate philanthropies, specifically the Carnegie Institution, the Rockefeller Foundation and the Harriman railroad fortune... The Rockefeller Foundation helped found the German eugenics program and even funded the program that Josef Mengele worked in before he went to Auschwitz."
Nathan Rothschild
Nathan Rothschild
ROTHSCHILDSEUROPEAN BANKING FAMILY THAT OWNS THE WORLD
"The House of Rothschild's headquarters were in Frankfurt, Germany. Through its loans to the numerous small nations of continental Europe at extremely high interest rates, it had built up what was widely considered the world's greatest fortune.
Apparently foreseeing the trend of events, one of the sons of the founder was sent to England to open up a branch the year before Napoleon was elected one of the three consuls of France in 1799. The financing of the war in France and the transmission of the funds to the troops on the continent was soon in the hands of this firm.
When the conflict with France ended, the House of Rothschild was in control of British finance and was the official banker of the British Government. This financial octopus was acknowledged to be in some respects the greatest power on earth and was designated by some writers as the "Sixth Great Power of Europe"."
Apparently foreseeing the trend of events, one of the sons of the founder was sent to England to open up a branch the year before Napoleon was elected one of the three consuls of France in 1799. The financing of the war in France and the transmission of the funds to the troops on the continent was soon in the hands of this firm.
When the conflict with France ended, the House of Rothschild was in control of British finance and was the official banker of the British Government. This financial octopus was acknowledged to be in some respects the greatest power on earth and was designated by some writers as the "Sixth Great Power of Europe"."
Edwin Charles Knuth in his book The Empire of the City, 1944
"The Rothschilds control the Bank of England, the Federal Reserve, the European Central Bank, the IMF, the World Bank and the Bank of International Settlements. Also they own most of the gold in the world as well as the London Gold Exchange, which sets the price of gold every day. It is said the family owns over half the wealth of the planet-estimated by Credit Suisse to be $231 trillion."
Pete Papaherakles, americanfrepress.net
"With the end of the Napoleonic wars and the rise of the House of Rothschild as the 'invisible rulers' of Europe, there had to be two groupings of powers of almost equal strength, which represented the 'balance of power'. The reason for this was simple: the House of Rothschild had to make sure that all the King A's could be threatened by all the King B's. Naturally, they were all financed and largely controlled by the Rothschilds.
... To ensure that the system worked as planned, there had to be an outside power that would act as an 'insurance policy' in the event that someone stepped out of line and appeared likely to upset the scheme.
This 'insurance policy' was Nathan Rothschild's England, which now reigned supreme in the Eastern Hemisphere. One could always determine which way a war was going to go by watching which side England favored... The power and wealth of the now 'invisible' House of Rothschild grew to such proportions that by 1900 it was estimated that they controlled half the wealth of the world."
... To ensure that the system worked as planned, there had to be an outside power that would act as an 'insurance policy' in the event that someone stepped out of line and appeared likely to upset the scheme.
This 'insurance policy' was Nathan Rothschild's England, which now reigned supreme in the Eastern Hemisphere. One could always determine which way a war was going to go by watching which side England favored... The power and wealth of the now 'invisible' House of Rothschild grew to such proportions that by 1900 it was estimated that they controlled half the wealth of the world."
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