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The Soon Coming Judgment Of God Upon America and How To Escape It 318
who has authored many standard reference works on American finance, was quoted in
McClure’s Magazine, he stated that just seven men controlled American industry. Here is what
he said:
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 so-called 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.”
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Who owns the Federal Reserve? As we shall see, they are principally the same men who
Moody said controlled American industry. The publisher of the financial newsletter “The
Reaper,” R.E. McMaster, says he has been able to discover who the Class-A stockholders are
through his Swiss and Saudi Arabian contacts. Eustice Mullins identified a similar list of owners
in his books Secrets of the Federal Reserve and The World Order.
In the Federal Reserve System there are twelve regional Federal Reserve banks. The
Federal Reserve Bank of New York (NYFRB) is the key bank in the system; whoever controls
this bank, essentially controls the federal Reserve. According to McMaster and Mullins the vast
majority of shares in the NYFRB are controlled by a group of foreign banks and a group of New
York banks. The five foreign banks which hold a significant number of shares of the NYFRB
include: Rothchild Bank of London and Berlin; Lazard Brothers Bank of Paris; Israel Moses Seif
Banks of Italy; Warburg Bank of Hamburg and Amsterdam; and Goldman Sachs Bank of New
York.
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Several New York banks held a controlling forty percent (40%) interest in the NYFRB
from the beginning. These included: National City Bank, First National Bank, Chase National,
Chemical Bank, Hanover Bank, and National Bank of Commerce. These banks were largely
controlled by the Rockefeller families and J.P. Morgan interests which are closely associated
with the foreign banks listed above. By 1983, through merger and consolidation these New York
banks owned fifty-three percent (53%) of the NYFRB.
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The total number of New York banks
owning stock in the Federal Reserve in 1983 was 27.
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Over the past 90 years since the creation
of the Federal Reserve thousands of banks have gone bankrupt but the the major stockholders
have of the Fed have flourished. Today in 2006 the original five banks are all controlled by the
number one and number two banks in the country being Citibank and J.P. Morgan Chase. This
can be seen in Table 11-1 below.
Not only are Citibank and J.P. Morgan Chase leaders in the banking world but they also
wield vast influence and control over the major industries of the US as well. A 1978 US Senate
report entitled “Interlocking Directorates among the Major U.S. Corporations, a staff study of the
Senate Committee on Governmental Affairs,” showed that five banks which now makeup
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