The forerunners of the today's ruling, 'Meta-Nazi' plutocracy, in the New York and "City of London" financial centers, recognized the mortal threat to their global hegemony, that was posed by the potential of an impending alliance between Germany and Russia — an alliance that would have combined advanced science and industry, on the German side, with localized advanced science and industry, and with vast social/labor resources, and vast "natural basis" resources, on the Russian side.
They decided that an alliance of Germany and Russia was to be avoided, at all costs — by their "bubble-engineering" of a worldwide-dictatorships-engendering World Depression, and by their precipitation of a World War, central to which would be the invasion and subjugation of Russia by Germany, and the extermination of the Slavic peoples of Eastern Europe by Germany.
They implemented this strategy by (1) aiding in the funding and the ideological engineering of the Nazi ideology of "National Socialism", which was at least as "anti-Russian" ["anti-Bolshevik"] as it was "anti-«Juden»"; by (2) helping to engineer the devastating economic conditions that "softened-up" the German populace for swallowing that ideology, and (3) by financing the massive re-armament of Germany.
Unfortunately for his "masters", former "military intelligence" agent Hitler perceived his opportunity to supplant his NY / City of London masters with himself, rather than to continue to serve them, and became one of a long string of "Franken-Dictators", signed an utterly [and mutually] insincere / temporary peace-pact with fellow-monster Stalin, and turned literally, like the literary Frankenstein monster, on his erstwhile master(s), attacking westward.
This forced his [former] masters to make a pact with the U. S. working class — to make them a few, "New Deal" concessions — in order to induce hundreds of thousands of them to die horrific deaths to save their master-class, and to put that master class's Hitler/Nazi "genie" "back into the bottle" ['til now].
The following evidence — of course only partial — is quoted from Kevin Philips' book, American Dynasty: Aristocracy, Fortune, and the Politics of Deceit in the House of Bush, hardcover edition, pp. 37-40, [emphasis added by anonymous].
Because Marx died before his «Buch» entitled The State, which was to have come after his «Buch» on Capital, his «Buch» on Landed Property, and his «Buch» on Wage Labour, could be written, and because the "Marxian" movement has not continued that work of Marx's — leaving the praxis and strategy of the ruling class of the «Kapital»-based society essentially untheorized in any systematic-dialectical sense — I draw, for this evidence, below, from Kevin Philips, a former Republican, who has turned, out of moral revulsion, against his former associates, documenting their crimes in a whole chain of deeply-researched, deeply-insightful books.
Thus it was that to Germany, the post-war republic, that an important group of Wall Streeters turned their particular intensions.
The most prominent were Averell Harriman, George H. Walker, Clarence Dillon, and the Dulles brothers. They often worked together in the 1920s, when ambitions were most grandiose, and in the 1930s, when embarrassing German relationships had to be sorted out, restructured, and even hidden.
Many men with these particular involvements, or their family members, went on to become pillars of the U. S. national security and intelligence establishments during and after World War II.
Almost from the start, American investments of the 1920s in both Germany and Russia were controversial. Harriman, Walker, Dillon, and the Dulleses were variously criticized for customer chasing, reckless lending (many of the German redevelopment bonds underwritten went bad in 1929-32), and even aiding previous or potential enemies. The investments were also on a large scale.
Through one or another financial vehicle, the Harriman firms arranged a major shareholding in the Hamburg-Amerika line, set up a U. S. bank to serve the German Thyssen steel interests, bought a one-third interest in the principal German-owned coal and zinc mines in Poland (through a holding company called the Silesian-American Corporation), and took a position in Germany's transatlantic cable company.
In 1925, their friendly rival, Dillon Read, helped to finance the Thyssen steel interests with a $15 million bond issue for the Vereinigte Stahlwerke (United Steelworks), a massive cartel of German coke, coal, iron, and steel producers. During World War II, it would supply 40 percent of Germany's steel plate, sheeting, pipes, and tubes.
James Forrestal, who became Dillon Read's president in 1938, was for several years an officer of General Aniline, the cloaked U. S. subsidiary of I. G. Farben, the German chemical giant. Partner William Draper, who handled some of the German business, was also codirector of a Dillon subsidiary, the German Credit and Investor Corporation of New Jersey, which specialized in U.S. investments in Germany.
By the late 1930s, Brown and Harriman — the former W. A. Harriman and Company — and Dillon Read were two notable active investors in a Germany rapidly re-arming under Adolf Hitler.
It is an irony, but not a coincidence, that by 1943, many of their best-known partners and executives — from Averell Harriman and James Forrestal to Robert Lovett, Douglas Dillon, William Draper, and David K. E. Bruce — were major figures in the Washington war effort or the Office of Strategic Services, as were the two Wall Street lawyers with the biggest German practices — the two Dulleses.
John Foster Dulles, as a board member of International Nickel, actually had helped work out that firm's prewar cartel agreement with I. G. Farben to provide Germany with a steady supply of nickel for armor plating.
When Wall Street firms and major multinational corporations like General Motors, ITT, and Ford needed to rearrange German holdings, it was to these two that they turned.
Prescott Bush, who handled much of the German work at Brown Brothers Harriman, used their services.
In Allen Dulles's office notes of January 1937, the clients requiring cloaking of assets were short-handed as "Brown Brothers Harriman-Schroeder-Rock".
The U. S. Justice Department had been probing German-connected companies and investors in 1941, but Pearl Harbor and the U.S. declaration of war against both Germany and Japan put government investigations into overdrive.
In early March 1942, a special Senate committee began public hearings on cartel agreements between U.S. and German firms.
Before long William S. Farish, the Chairman of Standard Oil of New Jersey, had pleaded no contest to charges of criminal conspiracy between his company and I. G. Farben. In keeping with cartel agreements, Standard had withheld from U.S. authorities information on the production of artificial rubber.
Secretary of War Stimson, a man with strong establishment ties — Andover, Yale, Skull and Bones, and service in both Republican and Democratic cabinets — asked President Roosevelt in March 1942 to stop the investigations because they would interfere with companies engaged in the war effort.
However, this didn't stop the inquiries being made by the alien property custodian under the Trading with the Enemy Act of December 1941.
None of this would have been happy news for Prescott Bush at 59 Wall Street.
In 1938, the firm had been collaterally involved in a German transaction — shipping tetraethyl lead needed by the Luftwaffe — by the Ethel Corporation, of which Farish was a director and which was half owned by Standard Oil of New Jersey.
In 1941, the New York Herald Tribune had featured a front-page story headlined "Hitler's Angel has $3 Million in U.S. Bank", reporting that steel baron Fritz Thyssen had channeled the money into the Union Banking Corporation, possibly to be held for "Nazi big-wigs".
UBC was the bank, nominally owned by a Dutch intermediary, that Brown Brothers Harriman ran for the German Thyssen steel family.
Prescott Bush was a director.
In August 1942, the property of the Hamburg-Amerika line, for many years partly owned by the Harriman and Walker-controlled American Ship and Commerce Corporation, was seized under the Trading with the Enemy Act.
On October 20, the alien property custodian seized the assets of Union Banking Corporation.
Eight days later, with UBC's books in hand, the government acted against two affiliates, the Holland-American Trading Corporation and the Seamless Steel Equipment Corporation.
In November, the government seized the assets of the last major entity connected to Harriman, Walker, and Bush — the Silesian-American Corporation.
Politically, the significance of these dealings — the great surprise [sic!] — is that none of them seemed to matter much in the next decade or so. ... In any event, a surprising [sic!] number of the descendants of men who had dealt with Germany — William S. Farish III, William Draper III, and Joseph Verner read Jr. (grandson of Remington Arms chairman Samuel Pryor, earlier a director of both UBC and American Ship and Commerce — turned up as close personal advisors or high-level appointees in the George H. W. Bush administration.
Chapter 6 will look at these connections in more detail. For now, suffice it to say that besides its dynastic roots in the early years of the military-industrial complex, the Bush family and circle were quietly important in the midcentury emergence of the U.S. intelligence [sic!] community. These connections go back more than three decades before George H. W. Bush's thirteen brief months as director of the Central Intelligence Agency from December 1975 to January 1977.