Study of the Hegemony of Parasitism - michaeljgoodnight.com

CHAPTER 4: THE BUSINESS OF AMERICA
U.S. BUSINESS AND FINANCIAL TIES TO EUROPEAN
FINANCIERS
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The Seven Men
The Federal Reserve Bank of New York
National City Bank of New York (Citibank)
National City Bank of Cleveland
First City National Bank of Houston
J. P. Morgan and George Baker
Brown Brothers Harriman
Dillon Read
The Warburgs and Kuhn, Loeb Co.
Other Power Brokers
THE SEVEN MEN
John Moody, author of many standard reference works
on American finance, stated in McClure's Magazine,
Aug., 1911, "The Seven Men":
"Seven men in Wall Street now control a great share of the fundamental
industry and resources of the United States. Three of the seven men, J.P.
Morgan, James Stillman, and George F. Baker, head of the First National
Bank of New York, belong to the so-called Morgan group; four of them, John
D. and William Rockefeller, James Stillman, head of the National City Bank,
and Jacob H. Schiff of the private banking firm of Kuhn, Loeb Co., to the socalled
Standard Oil National City Bank group ... the central machine of capital
extends its control over the U.S.... The process is not only economically
logical; it is now practically automatic."
What was true in 1911 is even more true in 1984; the
seven men are now, as then, merely American agents
for London interests. In 1919, Moody wrote in "Masters
of Capital":
"All of the great bankers began as dry goods traders, including Junius S.
Morgan."