American Economy and the End of Laissez-Faire – 13 of 13 – Politics and the Power Elite

The American Economy and the End of Laissez-Faire: 1870 to World War II

13. Politics and the Power Elite
Lecture by Murray N. Rothbard

With WWII, Morgans get their war in Europe; Rockefellers get their war in Asia. Both sides are happy. Rockefellers take over foreign relations and create the Trilateral Commission, while electing Carter President in 1977. Coolidge had an entire Morgan cabinet. More Morgan men under Roosevelt. Central banks were set up in each country. Deliberate inflation prevented the loss of gold from certain countries. Hoover was the first New Dealer. Roosevelt in 1932 simply expanded it. The National Recovery Association was a creation of the Hyde Park group. The Roosevelts were closely connected to the wealthy Astors. Rockefeller men began replacing Morgan men. The Harrimans were connected to these power elites,running banking interests. Kuhn, Loeb & Co., Goldman Sachs and Lehman Brothers took over investment banking. Major differences are now between the Eastern establishment (cultured, old money – Kennedy) and the Southern Rim (cowboy- Reagan).

Lecture 13 of 13 presented in Fall of 1986 at the New York Polytechnic University.

This lecture as a Podcast: http://enemyofthestate.podomatic.com/

Sourced from: https://mises.org/library/american-economy-and-end-laissez-faire-1870-world-war-ii

Source: American Economy and the End of Laissez-Faire – 13 of 13 – Politics and the Power Elite – YouTube

http://www.readrothbard.com/american-economy-and-the-end-of-laissez-faire-13-of-13-politics-and-the-power-elite

TRANSCRIPT

00:00
and shortly after that he was designs
00:02
and secretary state is Frank Kellogg who
00:07
not only to ten years of Secretary of
00:09
Treasury force wasn’t worth well known
00:12
as Hughes but Kellogg was a lawyer from
00:17
st. pull money out my st. Paul Minnesota
00:18
he was general counsel for us feel worth
00:22
of the Morgan Morgan company he was a
00:25
lawyer for him for James J Hills various
00:28
rarer investments and remember Hills
00:31
start up in Minnesota and the Great
00:33
Northern Hill was a live in the Morgan
00:35
closely allied of the Morgan this point
00:37
so he was a
00:38
organoid also help from a lawyer for
00:40
held personally as Undersecretary of
00:46
state so Kellogg is definitely a Morgan
00:48
persons Under Secretary of State you
00:51
wanted to get moral immoral Morgan
00:55
partner actually Amaro wound up heading
00:57
up the Latin American depth at least
00:58
unofficially he’s really sort of heading
00:59
on Latin American foreign policy order
01:01
in the twenty tomorrow with a Morgan
01:05
partner
01:05
he couldn’t moral refuse they finally
01:08
got just a seat GRU who was a career
01:11
diplomat on the Secretary of State who
01:17
later became ambassador to Japan under
01:18
Roosevelt it was a seat rue the career
01:22
diplomat also his cousin married a son
01:24
of JP Morgan also a good thing to do
01:26
with your cousin marriage that some day
01:27
people and say that and tell you his
01:32
again a definitely a Morgan person and
01:34
during the Coolidge administration they
01:36
say Dwight Morrow became more or less
01:37
virtually head of the Latin American
01:40
desk and relationship with Nicaragua on
01:42
so forth and another Morgan person
01:45
became we’re going to tourney
01:46
okay well became head of the another
01:49
part of Latin American desk so and
01:52
indeed when when Roosevelt went to war
01:56
Japan Joseph Seeger was the ambassador
01:59
of Japan is the only person the State
02:01
Department the B against war Japan over
02:03
an ocean ago she ate of teeth but
02:05
president with a pen in a minute grew
02:06
was any the Morgans were not again in
02:08
favor of war and agit and how many best
02:10
and they didn’t care about an infirm
02:11
favorite piece in Asia
02:14
any rate in 1924 campaign as I think I
02:17
mentioned Moses someone began with
02:18
Coolidge ran for re-election at 24 the
02:22
Democrats was a big fight for them
02:24
crying nomination between William G
02:25
Mikado the Robin Wilson Secretary of
02:28
Treasury and Morgan Morgan love Mac ago
02:31
he was a Morgan candidate and the Ku
02:34
Klux Klan candidate he was then moved to
02:36
California is backed by the Ku Klux Klan
02:37
and the pious so one thing I forgot to
02:40
mention right is the prohibition of
02:42
court came in we World War one of the
02:43
brown on the cover of the war effort and
02:46
save our soldiers from the sin of
02:48
alcohol and so in a history of that they
02:51
passed a prohibition amendment the
02:52
prohibition is not only illegal by
02:54
federal law those are constitutional
02:55
all liquor of any sort even wine was
02:58
then unconstitutional to have it possess
03:00
it or sell it or whatever so even though
03:03
it came in a Democrats the Republicans
03:05
rule for being pious if anyway the
03:08
Southern Democrats world for being piped
03:10
around and the only opponents were cast
03:12
northern Catholics and Irish Catholics
03:15
and whatever so in the 1924 convention
03:17
Democratic convention McAdoo represented
03:20
the prohibitionist forces a Ku Klux Klan
03:22
which is very strong 1820s everywhere
03:24
not so south running on an anti-catholic
03:26
ticket and an anti-catholic sucessfull
03:31
do they drink liquor all again begins to
03:32
spin and whole thing comes up again and
03:34
Al Smith an Irish Catholic running for
03:38
governor in New York running for the
03:40
presidential nomination as the northern
03:42
half like candidate so to speak anti
03:44
prohibition and there’s an Estella for
03:49
convention what the 104 ballots and and
03:52
then New York was my my name is 100
03:55
degrees of being laughter for a week no
03:56
air conditioning and total hysteria
03:58
takes over and the southern processes
04:01
and irish-catholic more quickly and with
04:04
virtually a sorts point the finally is a
04:07
compromise candidate since neither could
04:09
get two thirds those days Democrats to
04:10
win the nomination has a two-thirds vote
04:12
they take a compromise candidate John W
04:14
Davis
04:17
almost corporate wolf Harmon
04:19
Davis Polk award while a major Morgan
04:21
loss
04:22
another country in other words going to
04:23
be Davis chief partner of a pop Morgan
04:26
law firm the cover wife Canada Green
04:28
Morgans McAdoo Smith so we had a 1924
04:31
the lovely prospects in the Morgan point
04:33
of view of both candidates being morgan
04:34
people Coolidge and Morgan persons Davis
04:36
of Morpher tight Morgan people they
04:38
couldn’t lose whoever won they don’t
04:41
often have that of a lovely situation
04:43
for them at least Attorney General under
04:48
Coolidge with Harlan Fiske stone who was
04:51
a Dean of Columbia Law School and his
04:54
law partner was a progressive separation
04:59
or partner was Herbert family with the
05:02
summer long JP Morgan so so again I’m
05:06
Morgan person we have another wise in a
05:08
under Coolidge we had on prior Morgan
05:10
cabinet and top to bottom
05:13
open open Morgan control and storm of
05:17
course running the Fed inflating and the
05:20
Fed as a Morgan policy there in 1928 we
05:23
will get by the way the assistant
05:25
secretary set up a new assistant
05:26
secretary for air and War Department air
05:29
now airplanes not coming in to have a
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first air secretary EFT Ruby Davison was
05:34
the brother of Henry P Davison Morgan
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partners we have a morgan control of the
05:37
airway northern announces a coup
05:40
limitation of total Coolidge
05:41
administration top to bottom when Hoover
05:46
comes in so who is Hoover who himself is
05:50
a self-made millionaires and mining
05:52
engineer and geologists were all over
05:55
the world Asia and Australia etc
05:58
prospecting mining properties and
06:00
promoting them then he settle in London
06:01
people who know too much about amis then
06:03
the foods are for some world war one and
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Wilsonian
06:07
so he himself was an independent
06:08
millionaire except he wasn’t dominated
06:10
by people in the other hand he was he
06:12
was close to the Morgans as he spoke
06:13
when he when he got into as president
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1928 he spoke regularly three times a
06:17
week to Dwight Morrow once again key
06:20
persons Morgan partner anybody speaks
06:23
three times a week um but encuentro
06:24
Praful it’s definitely in the Morgan M
06:27
but Coolidge is it was lowered Morrow
06:29
with Coolidge’s main guru and whatever
06:31
control if you want to call it that the
06:33
spy language
06:34
and also over check with them all time
06:37
clearer Lamar oh it was also a good
06:39
friend
06:40
Hoover Thomas W Lamont Morgan partner so
06:44
basically what we have with Hoover is a
06:45
continuation of the Hoover of a moral
06:48
Morgan administration Secretary of State
06:52
succeeding using them how log the Henry
06:57
Simpson was a Morgan person from way
06:59
back corporate lawyer disciple of Elihu
07:01
root Morgan person the Simpson outcomes
07:04
come to the Secretary of State Secretary
07:08
Treasury continues to be Mellon again of
07:11
course the ally was released Morgan and
07:15
who risen was not very fond of Mellon
07:17
person along too well so it gets in his
07:19
undersecretary Treasury he gets the odd
07:22
the mill who was a Morgan person whose
07:25
father was a director of New York
07:27
Central Railroad Morgan Railroad on
07:29
Southern Pacific Morgan Railroad I
07:32
thought the milk senior I’m the little
07:34
junior he’s the guy was other Secretary
07:37
of Treasury am on the Hoover your
07:41
secretary in other words succeeding
07:44
Gilbert goes on to become Morgan partner
07:45
guess his reward in heaven it’s
07:47
important part knows himself was an
07:51
aboard of the Chesapeake in Santa Fe
07:53
which is Morgan Railroad a New York
07:55
trust company another Morgan company so
08:00
a Simpson himself was a have been with
08:07
closely allied not the Morgan lawyer
08:10
various state under Hoover we have
08:15
Hoover’s and we’re going to M bit me of
08:17
Simpson very safe Morgan person this one
08:23
comes in to be Secretary of War under
08:25
Roosevelt when World War two another
08:27
Truman of rose on children and World War
08:29
two comes in it’s part of eight World
08:31
War two Alliance and the Simpson is a
08:37
was closely connected with a with a Wall
08:40
Street investment firm long front of
08:42
bond wide and company to of Simpsons
08:44
cousins
08:45
Alfred Loomis and Landon thorne would
08:48
of directors of bonbon and company Big
08:50
Shot actually have high official a bum
08:52
right and they were both also directors
08:54
of Bankers Trust Company which is a big
08:56
Morgan Company course with strong come
08:58
from so the bond right company is very
09:00
close with a Morgan interest getting
09:02
Morgan and run and that guy’s trust now
09:06
I have two cousins of steps and closely
09:08
linked up with Morgan long blight
09:10
Bankers Trust interest and Morgan
09:13
assistant itself as a Morgan lawyer
09:15
Simpson brought in as an assistant
09:17
secretary of state in the rightest time
09:20
is now assistant logon to the secretary
09:22
he born a harvey bundy who is a director
09:26
of the AT&T; or sony only Morgan ambit he
09:32
brings in as a disciple Harvey Bundy
09:35
later later sires two famous brothers
09:39
McGeorge upon his two son the george
09:40
bundy became more or less foreign policy
09:44
head under I think Lyndon Johnson and
09:46
his son his brother William Bonney
09:49
became editor foreign affairs that the
09:52
establishment Foreign Affairs Journal of
09:55
the Council for Affairs in other words
09:56
we have a generation and we had also at
09:58
Jason becomes the Sipos Simpson later so
10:02
II Aitchison Dean Acheson
10:04
they have a whole generally Jeff four
10:05
generations of the Morgan types running
10:08
our foreign policy had Elihu root this
10:11
is Michael Simpson okay this is disciple
10:14
actress and Harvey Bundy and Harvey one
10:17
is a sons McGeorge of money and William
10:18
Bundy a whole so it spread she from 1990
10:21
no to in from nineteen sixty and seventy
10:23
same yang running America farm falls in
10:26
basically the same sensible or Morgan
10:28
people McGeorge Bundy is now a Harvard
10:32
or eminent all red pipe I think I know
10:34
if I said William is no more the editor
10:36
for if there’s anything right close in
10:38
there and Secretary of the Navy was
10:41
Charles Francis Adams of the Adams
10:43
family under Hoover close to the Morgans
10:48
from way back as a Boston Brahmin
10:51
son of Charles Adams a railroad tycoon
10:53
remember earlier in the term and I
10:58
himself a whose daughter twelve Frances
11:01
Anna
11:01
Jr’s daughter married JP Morgan Jr so a
11:04
very tight very tight Morgan connection
11:07
therefore the Navy Department so again
11:10
with Hoover continuing Coolidge we have
11:12
a more or less straight
11:14
Morgan administration a couple of his
11:17
friends were in there didn’t seem to be
11:19
connected with anybody particularly the
11:20
president of Stanford no Chum roof
11:23
Hoover became Secretary of Interior
11:25
Hoover was Sanford’s famous graduate and
11:28
so uh always in the who word Stanford
11:31
connection in 1929 of course the big
11:33
Great Depression hit the United States
11:36
and I need 31 the rest of the world and
11:41
you know I don’t need to stay here with
11:43
the cause either where he sort of
11:44
alluded to it basically it was the fact
11:47
that Great Britain after the war one
11:50
after world war one wanted to restore it
11:53
financial preeminence inside in order to
11:56
do that they had to go back to the whole
11:58
world had to go back in the gold Center
11:59
but through a different kind of gold
12:00
sense really going on to another con
12:02
namely a ghost a nerd which rather a
12:05
peculiar kind which keeps the form of a
12:07
gold fan without much of the content in
12:10
which the United States would remain not
12:11
a ghost man as the dollar
12:14
fixative 120 years ago laughs and the
12:18
British went back to the old pound which
12:20
essentially used to used to be four
12:22
dollars eighty seven cents approximately
12:25
and even though because of inflation
12:27
during the World War one the British
12:30
Pound had gone down by by 1920 to about
12:33
three dollars and 20 cents in other word
12:35
and inflated even more than the dollars
12:37
all of double the money five dollars
12:40
more less double during the war all the
12:42
other countries went way beyond that
12:44
because they were largely because they
12:46
were in the war for four years in the
12:48
United States only the war per year and
12:49
a half they inflated a lot more when
12:52
also ghost and in World War one and
12:54
probably go back to a gold Santa which
12:57
on which first of all on which the
12:59
British Pound reevaluated upwards of 487
13:02
totally insane we’re doing methods the
13:05
British in order to keep its goods
13:07
competitive whatever had a V flight by
13:09
whatever this is twenty twenty-five to
13:11
thirty percent in other words
13:13
and track the supply but that 487 the
13:18
British goods much too expensive in
13:20
terms of er all other products so in
13:23
order to make the British goods
13:24
competitive they would have had to
13:26
deflate the domestic price level down to
13:28
you know whatever it is sinking portion
13:30
of math it’s kind of a nutty thing to do
13:34
is they could have gone back on the old
13:35
side of the 320 thrown into the palace
13:37
that okay why for yet right we recognize
13:39
reality we go back and go senator and
13:41
the value of pound but they sell their
13:43
prestige was at stake and then you
13:45
couldn’t afford to do that also some of
13:46
the bondholders and England working on
13:49
getting their speculative profits in
13:53
other words you’d buy five pounds that’s
13:55
a 320 whole lot coming up for 47 they’re
13:58
worth a lot more so with the combination
14:00
of economic best interests of the
14:02
financial creditors banker creditor bond
14:05
holder types wrong with the view the
14:09
British prestige and re-establishing the
14:11
financial dominance of London requires
14:13
going back 47 especially they did
14:17
something like that and we’re effort
14:18
Napoleonic war 1819 but only only could
14:21
they only went back by they only had
14:23
about 10 percent to go instead of that
14:24
30 percent and also those days prices
14:27
could fall or were no unions was no less
14:29
inflationary policy permanent facie
14:31
naree pon to keep prices up Britain
14:34
1920s first of all had very strong
14:36
unions by this time largely the cut and
14:39
also the Union wage rate structure was
14:40
held up largely by a vast just an
14:43
unemployment insurance the English have
14:45
put in around World War one
14:47
which which gave almost unlimited
14:49
benefits at almost working a worker wage
14:53
rate in other words you got all employed
14:54
you get what’s up but you’ve got a huge
14:57
a huge unemployment insurance huge
14:59
payments which kinda to keep them firmly
15:00
on pulling over Keithley wager at the
15:03
Union wage rate structure way above free
15:05
market wage rates so in that kind of an
15:07
atmosphere they would have been English
15:09
government if they want to deflate they
15:12
start with the idea we have to go back
15:13
to cope 947 then they would have to do
15:15
with the deflate you more prepare to do
15:18
that they wanted to keep inflating their
15:19
people they like the idea cheap credit
15:21
and most of us keep Union wage rate high
15:24
so here they assist our inflating or st.
15:26
at the time
15:27
their whole position would have required
15:28
in the deflate very heavily and that
15:30
kind of a given those assumptions they
15:32
just bring you a tactical job of trying
15:35
to work within this these two crazy
15:36
assumptions
15:38
basically what they try to do support
15:40
the other countries to go back to the
15:41
gold standard at a overvalued whatever
15:45
it is Pengo Bulgari you know one of the
15:47
currencies are England was essentially
15:49
running Europe after World War one
15:50
through the League of Nations which is
15:51
controlled and the financial committee
15:54
of League of Nations which was sapphi
15:55
Bank of England and Macklin pipes so
15:59
they forth these other countries that
16:00
took to their on to go back to set up
16:02
the central bank in each country and to
16:04
inflate and also to overvalue the
16:07
exchange rate of these countries because
16:08
simulate British exports and restrict
16:11
importance of Britain they couldn’t do
16:13
that with the United States United
16:14
States was much too powerful it couldn’t
16:16
force us to do anything so with the
16:18
United States which is on a go the idea
16:20
on the other thing it does they stopped
16:21
a Gold Exchange standard sort of a gold
16:23
standard whereby these other countries
16:26
are encouraged the pyramid on top of
16:29
gold on top of pound sterling so that
16:32
whenever I was they keep their sterling
16:33
balances and don’t cash them in in
16:35
London
16:35
I’m cashing in for gold you know one
16:37
that was technically a gold standard
16:39
everybody was encouraged to keep on the
16:41
pound standards as well as Britain
16:43
permitted pounds on top of gold
16:46
evidence leading the other as and in the
16:49
old days they would have worked pounds
16:51
to France and the Germany whatever
16:53
Bulgaria etcetera it would have worked
16:55
overall because it’s pounds would pile
16:57
up it would have call upon England’s
16:59
Redemption now they didn’t call upon
17:01
English matters they kept the kept
17:02
sterling balances in other words pound
17:04
balances they permitted on top of that
17:06
each of these countries were encouraged
17:08
the primitive Pengo of bulgor whenever
17:10
the names are on top of pounds you had a
17:12
very top-heavy inflationary structure
17:15
during the twenty United States was on
17:18
gold so determine top of dollars and
17:21
gold United States was on gold it was
17:24
important then for the British to avoid
17:26
losing the British began to lose gold to
17:28
that to the United States and France
17:30
France refused to go along with either
17:31
after the mid 20s France went back to
17:34
the gold standard on a Nazi valued a
17:36
regular plank so the Brits are losing
17:39
over France
17:41
filming bounces and golden and he hides
17:43
safe so they try to get to the game of
17:47
the nsa’s wants the title inducing ice
17:49
ice to inflate its salsas to keep
17:51
Britain from losing gold to its if we
17:53
inflated power lower the British and
17:56
this is what we did Benjamin strong head
17:58
of the Federal Reserve System president
18:00
Governor Phil Mac in New York then there
18:02
was president of the New York had a
18:05
secret deal with Montague Norman who was
18:07
a head of a bank of England saying a
18:10
strong Norman connection they would
18:13
visit each other allotted we go under a
18:15
few names for the Riviera and Saratoga
18:18
in those days was a big spa summer
18:20
resort they have secret conferences the
18:22
purport of the book both of the but of
18:23
which was a United States you an
18:25
insurance late especially money and
18:27
credit in so it was late lower interest
18:29
rates in our space inflate prices and
18:31
keep the British losing gold we did that
18:34
three times in 1921 24:27 giving strong
18:40
side of the koodoo whiskey to the stock
18:41
market so as to keep it keep it going
18:44
keep it bubbling strong in Norman the
18:48
strong we got was a Morgan Morgan ambit
18:51
all of his life
18:52
Montague Norman was heavenly Morgan
18:54
Morgan connected and not Hugh Norman was
19:00
a headless himself a grew up mother and
19:03
father a book old-time banking families
19:06
his mother was connected with the Brown
19:08
Brothers family which is now Brown
19:11
Brothers Harriman a big Wall Street
19:12
banking firm he himself worked in New
19:15
York
19:15
Norman’s as a youth Brown Brothers
19:18
institution so he’s already closely
19:21
connected and forth Morgan’s will the
19:23
physical age in the Bank of England we
19:25
had a strong Morgan connections between
19:27
Stormin Norman
19:29
there was a lot of some of the stories
19:32
have claimed that some kind of secure
19:33
psychological bond between store in
19:35
Norman I have psychosexual bond Mike
19:38
attaches your half of posh lining is
19:40
this because the Morgans tie was enough
19:42
enough to bind them up anyway the result
19:45
of Wallace or to keep money inflated
19:48
have a phony go standard more or less
19:50
especially for Europe and the result of
19:53
the final time
19:55
collapse as the whole thing in coupling
19:57
down with unsound investments with calls
20:01
upon the banks the United States for
20:03
redemption
20:04
thank failure is no less of it so during
20:06
the day and during the great day and by
20:09
the way 1931 when the banking crisis hit
20:11
Europe and very big banks again to fail
20:13
because all banks are inherently
20:15
bankrupt all banks or fractional reserve
20:17
maxint really can be doomed at any
20:19
moment when they began to fail that time
20:22
the British having pushed everybody off
20:24
of the whackos system which overinflated
20:27
went off a ghost and a very quickly at a
20:29
very low interest rate after telling
20:31
everybody else I’ll never go back off
20:32
407 please keep your sterling Mouse and
20:34
woman suddenly one fine day they’re out
20:37
of it they’re off it thereby
20:38
precipitating a general European
20:40
financial crisis which lasted through
20:42
World War two so we have a point does
20:45
everybody’s now off for those salaries
20:46
or currencies were fluctuating and fry
20:50
at but also controlled with controlled
20:53
exchange rates competitive devaluation
20:55
trying to push our export and about the
20:57
other guys import what was known as
20:59
beggar your neighbor policies change
21:02
score bigger and I became as a favor of
21:03
it is a pretty good description of
21:06
European currency block during during
21:09
1930s the United States was what went
21:11
over both thousand thirty-three except
21:14
for international payments for the
21:16
Messick accounts that went off it
21:18
basically offered so we have the world
21:20
of currency block Paris hi cows and all
21:23
the rest of it economic warfare or
21:25
during a thirty
21:26
part of the major one of the major
21:28
reasons for the war with Germany between
21:31
at Mela and I say single in Germany was
21:33
economic a financial hole is it only
21:36
company to devalue in other words
21:38
England went off a ghost and the value
21:39
of the pound United States the value of
21:42
the dollar from 2120 if someone 35th of
21:45
a goal laughs Germany couldn’t be
21:47
evaluated politically impossible for
21:49
them to devalue Germany had a runaway
21:51
inflation 1923 result of continuing
21:54
expansion the money supply creation bank
21:59
money and paper money and the German
22:01
public blamed the foreign exchange
22:03
market they’re not blaming the quantity
22:05
of money because that’s a pretty arcane
22:06
process
22:07
well the German
22:08
Publix or the foreign exchange market
22:10
collapsing places of foreign exchange
22:12
going out faster than domestic price so
22:16
that you know got to the point one mark
22:19
was as I say a hundred million marks to
22:21
buy a loaf of bread
22:22
medically but it took a billion marks to
22:25
buy a franc or something like that or a
22:27
dollar the German government probably
22:29
instead of blaming the reason why the
22:31
foreign exchange was going down a faster
22:33
getting inflating faster than domestic
22:35
with very simple lamely of the Corn
22:37
Exchange Marcus specula they’re looking
22:39
for the future then seeded anticipating
22:41
further inflation so they were on the
22:43
cutting edge of this kind of
22:44
anticipation so a foreign exchange price
22:47
is being very flexible ingredient very
22:49
quickly and so forth and far-seeing
22:51
anticipate inflation better than
22:53
domestic producers domestic consumer but
22:57
unfortunately the Germans blame the
22:58
foreign exchange market a little
22:59
something evil about spawn exchange
23:01
speculators which causes inflation so
23:04
therefore when the Depression hit 1933
23:07
30 30 31 30 31 32 33 was politically
23:10
impossible for any German government
23:12
devalue of the mark a goal for
23:14
politically impossible bankers old
23:15
sounds they didn’t think in those terms
23:16
nobody was on the gold family more that
23:18
was considered neanderthal reactionary
23:21
and let the United States and England
23:24
began to get hysterical very quickly
23:25
this is this was already in a brooding
23:29
administration for Hitler took over the
23:31
Bernie administration 1932 it will begin
23:34
and also inhibits have over they’re
23:36
going to get probably a star hold about
23:38
this and about the fact that Germany is
23:40
opting out of the international monetary
23:41
system in other words opting out of
23:43
control by international bankers
23:45
financed fears and all the rest of it
23:48
they also claim that Germany is
23:49
exploiting these countries by engaging
23:52
these hornish these barter deal none of
23:55
this is Hollis is ridiculously what
23:57
actually is going on was the Germany’s
24:00
engaged both Germany and Romania which
24:02
had over a value exchange currency
24:05
Germany have overvalued mark and we may
24:07
have over value over the Romanian
24:09
currency is there’s a Bengal okay as a
24:13
result well we have any proposed a
24:14
complex deal by which the Germans pacts
24:19
our consumer we’re subsidizing German
24:21
exports manufactured good the Romanians
24:25
are subsidizing their exports which were
24:27
the former wheat farmers each one
24:31
subsidizing their own exports of the
24:33
expense of their domestic consumer this
24:35
is an elaborate deal by which both sets
24:39
of exporters were favored the expense of
24:41
their respective consumer in any rate
24:45
thus I say this began a whole series of
24:51
war more like kind of packs and the also
24:58
secretary halt when the war began maybe
25:00
we enter the war 1941 sure they have
25:03
that Secretary of State hull a said flat
25:07
out by he sent many times the real cause
25:08
of World War two is economic in other
25:10
words trade barriers financial barriers
25:14
currency blocks and so those cars those
25:16
those countries which have the same
25:18
currency block wound up on the same side
25:20
of the war so what happens then in the
25:24
in 1930 with Hoover Hoover launches a
25:29
new deal 1930 29 was a real depression
25:32
star Hoover was the first new Delos
25:34
pipeline which you read in textbooks
25:36
every everything is practically
25:37
Roosevelt that every measure initiated
25:40
by Hoover spanning Public Works deficits
25:44
cheap credit keeping wage raised up by
25:46
government pressure bailing out the
25:51
bankrupt oh please I’m a chrome industry
25:53
the government lending reconstruction
25:56
Finance Corporation i calif the feedback
26:00
import farm i support support the whole
26:03
farm policy program begins with humor
26:05
yeah it’s a new deal right
26:09
roosevelt what rose up to leaders have
26:11
banded what happened was that the Morgan
26:17
isn’t one I’m one of the evening
26:20
businessmen like hope and Boogle ii
26:22
wanted those asking for official
26:26
cartelization system ever since world
26:27
war one now put pressure on who would
26:30
have to formalize it
26:31
NRA and so forth this was the so-called
26:35
float plan 1932 and the thing that
26:38
Hoover was really really launching the
26:40
whole thing he’s one of the pioneers and
26:41
corporatism evil he probably went too
26:43
far
26:44
so another I have to make a formal
26:46
system of 4th oil firms in the trade
26:48
association enforcement to keep their
26:50
agreements isn’t it’s too much –
26:51
extremely so my god has fascism product
26:54
of a long trying to figure that out what
26:56
it was anyway at that point the big
26:59
business pipes United States the Chamber
27:01
of Commerce and sloped us episode of toe
27:04
over directly you don’t support those
27:06
NRA program will shift our score to
27:08
Roosevelt and he said I’m sorry this
27:09
fascism ended they did shift the sport
27:12
to Roosevelt and what soon as Roosevelt
27:13
came any footsie put the full plan in
27:15
the only National Recovery
27:17
administration NRA with Roosevelt we
27:22
have a group of people who are the the
27:24
Hyde Park Roosevelt’s which were closed
27:26
for the asterism Harriman
27:28
particularly the Astra family remember
27:33
penny the Oyster Bay Roosevelt’s how
27:35
much Teddy Roosevelt comes from the post
27:37
of the Morgans the high part result host
27:39
of the Astor family as a matter of fact
27:43
the Roosevelt anastrozole coarsely
27:46
related to each other there was a the
27:50
action force of the first family first
27:52
wealthy family United States virtually
27:53
John Jacob Astor got to became a firm
27:57
millionaire from fur trade 1920 and then
28:00
invested their money in New York real
28:02
estate so that they’re probably the
28:05
oldest love living whatever a big fan
28:07
whopping family in any rate I think of
28:09
Roosevelt’s half-brother James Roosevelt
28:10
married a daughter we mrs. William after
28:14
running society here in New York for
28:16
many years and won della knows who rose
28:21
up grants 50 was grand father’s brother
28:23
Frank owns all along
28:25
in other words the rand uncle for whom
28:29
franklin roosevelt was named Franklin’s
28:30
Olmo and mary william astor his sister
28:33
so we had a very close family connection
28:36
between the Astra’s and Roosevelt and it
28:40
also turns out that the Vincent Astor
28:43
not only a relative of Frank
28:45
on the rosy rose of La Poste friend you
28:49
also happen to be chairman of the board
28:51
to me a member of the board of the case
28:53
National Bank this used to be Morgan
28:58
however 1930 Rockefeller untruth
29:02
executor the coup d’etat so to speak a
29:05
chase bank mergers of the Bank of the
29:07
equitable rights as a little truck
29:09
something which is Rockefeller the
29:11
president Rockefeller Weber seize
29:12
control so Chase Bank 1930 after which
29:16
became the top Rockefeller Bank Albert
29:20
Willian had been the chairman of the
29:21
board of chase National Bank oversee it
29:22
was a Morgan pursue the rocket horse
29:24
took over to be Polie William a year
29:26
later and they put in wet robe W Aldrich
29:28
is a ton of nope no control Richard
29:32
fourth cousin of john d rockefeller jr.
29:35
so this symbolizes the shift any
29:40
ravenson answer was on the board so what
29:43
we had during the thirty was we had a
29:45
Roosevelt aster connection and also an
29:50
Astra Rockefeller connection also
29:51
Roosevelt Rockefeller connection so we
29:54
had a general orient that seeing
29:56
Rockefellers and Roosevelt and the
29:58
Astor’s and the Harriman’s another very
30:00
important the final Democratic family
30:03
who also close neighbors of the Astros
30:06
up up and up and I guess it’s Rockland
30:10
Kent was it’s not Rockland County it’s
30:12
accounting north of Rafah so just around
30:13
there and so the Harriman’s are W
30:19
Averell Harriman’s some of the original
30:21
Harriman eh Harriman extremely important
30:25
figure is overlooked by sorry an hour
30:27
and here the good friend of Franklin
30:30
Roosevelt he he was a probably looked at
30:33
Wachtel financial person and of course
30:36
the helm of the Rockefellers and Kualoa
30:37
had been allied to thanking a hundred
30:39
1902 and still word spurious we had a
30:42
Harriman rockefeller after connection ah
30:46
Harriman was a
30:50
head of the Business Advisory Council of
30:54
which was set up but he which was set up
30:57
in 1933 soon as those Wells gets in
30:59
Business Advisory Council Department of
31:01
Commerce to be sort of a major
31:03
institutional instrument instrument for
31:05
big business influence this Advisory
31:09
Council Hamel is also the he was on the
31:16
border records a Bank of Manhattan
31:18
company which is cool low up again we
31:20
have the famous who I’m and Coulomb
31:22
connection and they ran the back of
31:25
Manhattan
31:26
many years a chases National Bank later
31:30
later in the fifteen or sixteen became
31:32
the Chase Manhattan Bank and thereby
31:35
symbolizing a union between Rockefeller
31:38
and kuhmo of interest cameras also close
31:43
friend of pricky Rockefeller the son of
31:45
William Rockefeller the strana would
31:46
have a Harriman Rockefeller Kuhn Loeb
31:48
after connection the Hammond of Franklin
31:54
Roosevelt had a hammer Franklin
31:56
Roosevelt and the coast Frances
31:58
childhood and Eleanor Roosevelt the wife
32:01
of Franklin D Roosevelt had an old
32:04
friend of Harriman and Harriman sister
32:06
from fertile for life so had a very
32:08
close interconnection with all these
32:10
people financial and relative relative
32:13
relational and personal the another
32:18
important group this comes up by late
32:20
1920s there’s a culo of who is who in
32:24
the old days originally is about the
32:25
only important German Jewish Wall Street
32:27
investment and investment bankers coming
32:30
up a late 22 two other very important
32:32
firms which are also related in many
32:34
ways to the control of people mingling
32:36
goldman sachs the main partner Goldman
32:42
Sachs has corporative Sidney J Weinberg
32:45
becomes one of the most powerful people
32:47
for the next 30 years Weinberg will have
32:50
the idea of setting out the Business
32:51
Advisory Council Weinberg on believe is
32:54
deputy director of war production board
32:56
Nike in World War two and also deputy
32:58
director of war production was during
32:59
the Korean War so he was more or less
33:02
run
33:03
system until helping around the system’s
33:07
fund from the early 30s old through the
33:09
50s at least he’s on the board of
33:13
Records about million cups corporation
33:15
top corporation and also in Ford Motor
33:18
Company was the old man died around the
33:19
mouth of world war two has done ethical
33:23
Ford died shortly thereafter or even
33:26
maybe before Henry and so Henry for the
33:28
second now fairly elderly they took over
33:31
as the brilliant young chairman of water
33:34
Ford and that’s very shaft of that they
33:36
capitulated the banker interesting for
33:38
always that hated Wall Street bankers
33:39
and they kept the Ford Motor Company not
33:41
only comes out not only running it
33:43
personally was also give me a tree of
33:45
banker control one hundred for the
33:49
second and have that kind of view so
33:50
they practically so loud the Wall Street
33:53
became absolutely for originally a
33:55
private private corporations closing his
33:58
family held and so henry ford ii went
34:02
public realized I’ve worked a lot of
34:04
money for his family because the selling
34:07
shares the public and the process by
34:09
using Goldman Sachs and Weinberger’s
34:11
there of a major investment banker to
34:14
float the sale
34:17
the other big german german jewish firm
34:22
coming out with Lehman Brothers who one
34:27
of these senior Pythons senior partner
34:29
Herbert agent Lehman became governor in
34:31
New York during the famous New Deal
34:33
governor York in this 1930 so so what
34:40
you has a shift of power we notice you
34:43
know it’s one group I haven’t mentioned
34:44
in this last 5-10 minutes saying neither
34:45
Morgan where the more even all is well
34:47
the Morgans are sort of out and as a
34:50
matter of fact the one who looked like
34:53
Roosevelt was gonna be nominated by the
34:54
democratic party 1932 the Morgans
34:56
organized a last-minute stop stop
34:59
Roosevelt movement and behalf of Newton
35:01
D Baker who is the secretary war under
35:04
Wilson the tie spot isn’t they didn’t
35:06
trust Roosevelt obviously goes over is
35:09
that I want allied with a Rockefeller
35:11
Hammond people not with the Morgans and
35:12
so
35:13
and the people who organized the things
35:16
of the convention were Morgan people
35:18
when young chairman of General Electric
35:19
of memoriam company
35:20
Melvin trailer first president of First
35:23
National Bank of Chicago Morgan bank and
35:26
also a General Electric Thomas W Lamont
35:29
Morgan partner Levi’s was desperately
35:31
trying to stop Roosevelt in 1932 and
35:37
John W Davis who Democrats nominated
35:39
1924 the Morgan lawyer and Robert
35:42
Woodruff we should be mentioned here in
35:44
passing interesting character Robert W
35:46
Woodruff was the founder of coca-cola
35:49
company or Fong founder of the modern
35:52
coca-cola company and Woodruff becomes
35:58
mr. coca-cola he at the age of 85 he was
36:03
so like I he just died a few years ago I
36:05
just go active about the age of 85 was
36:08
itwas would represent we discovered or
36:10
approved the idea of Jimmy Carter of the
36:13
presidential nominee so they try to stop
36:16
rows row without success when the New
36:18
Deal came in there were soups there were
36:19
some organ people in it but a senator
36:21
they were unhappy of the nationalist
36:23
policy monetary policies arose really
36:25
one of the London economic conference or
36:29
having worldwide financial agreement to
36:30
try to do something about the currency
36:32
blocks
36:33
Roosevelt torpedoed it at that point
36:36
two of the major Morgan people quit the
36:38
administration Dean Acheson was the
36:40
disciple of Henry Simpson and the
36:42
morning person Louis W Douglas another
36:44
more person quit only came back when
36:47
world war ii started was a mighty
36:49
coalition of people these forces by 1935
36:53
the Morgans believing that that the
36:56
roads are going too far in corporate and
36:58
corporate state doctrine just like
36:59
Hoover is believing going too far along
37:01
with a Hoover people former organization
37:03
for the American Liberty League which
37:06
opposed the New Deal but said if you
37:09
analyze Liberty is really they were
37:10
pretty moderate in the sense that they
37:12
were riveted it weren’t paper going back
37:14
or on delays a fair they thought that
37:16
those bubbles into extreme their their
37:20
man out Landon was smashed 1936 election
37:22
let’s sort of kill the Liberty League
37:26
what you had also with Roosevelt
37:29
election 32 at the end of the fourth
37:31
party end of the fourth party system
37:33
remember the fourth party system came in
37:36
around 1896 and 1904
37:41
the parties are no longer different
37:44
ideological after about 1900 and the
37:46
Republicans were dominant and so the
37:51
public is won every election except 1912
37:53
werewolf or the progressives foot the
37:55
Republican Party in 1916 Wilson was just
37:58
barely re-elected and 1932 because of
38:01
the depression I almost look as a
38:03
prohibition what happens by the way
38:05
Africa I’ve got to mention I said well I
38:07
mean it didn’t that prohibition
38:09
came in finally another cover of the war
38:11
where we’ll want to continue it on from
38:12
then on the Republican Party was
38:14
committed to it by that time and the
38:16
southern Democrat but northern Democrats
38:18
of course from the urban Democrats very
38:20
much against it
38:20
Roosevelt pledged to repeal it and the
38:23
since Roosevelt gets then he pushes
38:26
through a constitutional members
38:27
repealing the prohibition amendment so
38:31
and by and with the Great Depression and
38:33
with repeal prohibition is a big shift
38:34
in political party system the fourth
38:37
political party system comes in as a
38:39
fifth as now see this was a fourth yeah
38:44
and the fifth comes in you know fifth
38:47
party system comes in but the Democrats
38:49
is a majority party and the Republicans
38:54
not only winning with Eisenhower and
38:58
only winning Congress for about four
39:00
years now house representatives of
39:02
comedones about four years from then on
39:04
to be done get a Democratic majority
39:06
party south plus urban Catholics
39:11
essentially the bases are coalition this
39:14
is this continued until recently we
39:15
might now we’re probably in a sixth
39:17
party so right now we’re when it’s
39:18
probably last ten years as well the
39:21
dimensions of which not yet clear but
39:23
basically it seems to be in a situation
39:25
really the Democrats win the house and
39:29
the Republicans win the president
39:31
presidential elections and very few
39:35
people are party members and we have a
39:36
huge number of independent floating
39:38
voters
39:39
probably also does the influence
39:40
television what people wrote the first
39:42
of all has been any really ideological
39:43
difference from for a long long time so
39:45
1896 and second a royal with television
39:50
everything is much fewer courting
39:52
membership forties the parties the
39:54
Tennessee weakened by the trustee by the
39:57
alleged reforms nineteen sixties and
40:01
early seventies so almost every party
40:03
has primaries and for the it free almost
40:06
impossibly get any kind of ideology and
40:08
any parties it’s all sort of TV the
40:11
parties mean almost nothing that’s one
40:12
of the reasons why the famous thing that
40:14
happened in the only way primate
40:15
Democratic primary yeah a few months ago
40:18
and the LaRue she’s one the nutty coke
40:22
one the lieutenant governor and
40:25
Secretary of State post an Democratic
40:27
primary Berra things Democrats
40:28
enormously business the party sister
40:31
party machines on weather almost don’t
40:32
exist but you have it sort of
40:34
coalition’s a bunch of crooks really it
40:36
was and with no no kind of ideological
40:39
difference so you have a massive
40:43
floating independent voter and therefore
40:44
many things more or less up for grabs in
40:50
the 1930s as things developed the
40:54
Morgans began the as the usuals of try
40:57
to along itself into total of France and
40:59
England product crush Germany’s as in
41:02
World War one the Rockefellers are not
41:05
interested in war with Germany they were
41:08
interested in war with Japan Japanese
41:10
were expanding Far East and the
41:13
Rockefellers Standard Oil we’re
41:14
interested in oil and a rubber rubber
41:17
and oil Southeast Asia both working both
41:20
we’re trying to expand into Southeast
41:22
Asia action to Vietnam amounts to and in
41:26
China the famous incident 1937 I believe
41:31
of Panay incident were the Japanese sank
41:33
a rockefeller gunboat
41:36
I mean I thought tanker I think was an
41:38
armed tanker I believe and the pene up
41:42
the Yangtze River way up the Yangtze
41:43
River question question what was the
41:45
Rockefellers some boat doing up the
41:46
Yankee River interesting question
41:47
anyways because ferry about that so what
41:50
you have that is a movement for many
41:52
years on the Morgans again in the war
41:54
against Germany and for the Rockefellers
41:55
going to war against Japan so for
41:59
example in the State Department the main
42:01
force for try work out a piece of Japan
42:04
with Ambassador to Japan Joseph C grew
42:06
with a Morgan partner the Rockefellers
42:09
in Europe where I’m except allied with
42:11
Germany they had cartel arrangements
42:13
with IG Farben patent sharing agreements
42:17
and so forth so they tended to be
42:18
against the against any intervention in
42:20
Europe John Foster Dulles Standard Oil
42:23
lawyer the major probably major Santoya
42:26
we’re about a 30 wrote of the book in
42:28
1940 cold war peace and change we’re
42:30
seeing which they he said that they we
42:32
should look at the German German
42:34
territorial demands makiura rational
42:38
reasonable we should accommodate them
42:40
how is World War two we have a coalition
42:43
the Morgans Rockefellers once again
42:45
coming to our mighty coalition the
42:48
mauryas get they war in Europe and then
42:50
walk home against a rocket I’ll get
42:51
their warning both both sides are happy
42:54
so we have a mighty coalition with the
42:56
Morgans pouring back in the
42:57
administration shouting hallelujah so
43:00
the seat Simpson become Secretary of War
43:03
and Atchison becomes Secretary of State
43:09
Felton Rockefeller becomes citizen
43:14
security take charge of Latin American
43:15
affairs and so you have a might s a
43:18
mighty coalition all these guys pouring
43:20
back in and when we emerge from World
43:24
War two we emerge with the Rockefellers
43:26
is permanent permanently dominant within
43:28
this Eastern establishment the oil is
43:33
now become extremely amor important
43:35
before and from then on we have a
43:38
situation with rock Morgan’s essentially
43:40
Union partners the longer for the
43:42
Rockefellers take over the Council of
43:43
Foreign Relations which have been
43:44
launched by the Morgans
43:46
and the David Rockefeller chairman of
43:50
the board of the Chase Manhattan Bank is
43:51
a very recently still a dominant force
43:54
sets up a trilateral famous trilateral
43:57
society is a method of having tripartite
44:00
ins the United States Japan and Western
44:03
Europe agreement on economic policy
44:06
is pushed into the government so you we
44:09
have to realize the Democratic
44:10
Republican Party’s mean nothing any more
44:11
questions which financial groups are
44:13
behind which candidate the parties are
44:16
just hollow shells to be taken over so
44:19
to speak
44:21
the Eisenhower administration for
44:23
example is Rockefellers straight through
44:24
as we can see by the Dulles brothers and
44:27
sister running and foreign policy the
44:32
Carter in the Carter was a virtually
44:35
creature of the trilateral commission
44:36
and therefore Rockefeller since they
44:38
were now have Rockefeller Morgan Alliant
44:40
normal running competition Carter was an
44:44
unknown governor of Georgia nobody ever
44:46
heard of them how is he hardly become a
44:48
big political candidate he’s really
44:50
nobody heard of him until about January
44:51
in 1976 you didn’t like the 1976 house
44:55
how did he get to be present well he was
44:58
discovered they one of the southern
45:00
governor felon gotta be good thing of
45:02
push now and Terry Sanford was one
45:05
possibility Carter was another Woodruff
45:08
had a owner of coca-cola on Jaipur some
45:11
chairman of oil coca-cola discovered
45:14
Carter Carter for the Georgia actually
45:17
is not peanut farmers peanut wholesalers
45:18
the concrete specific and his buddy was
45:23
Bert Lance was in with the bankers and
45:25
forces Georgia banker and they see knew
45:27
about him he was liked by the coca-cola
45:28
people is they call the attention
45:30
trilateral commission he then they
45:32
introduced him to the David Rockefeller
45:33
a trial a delay like them they made him
45:35
a member of trilateral commission is
45:38
only about 50 members in our spaces it’s
45:40
not exactly as you know as though I was
45:42
really a common garden-variety thing
45:44
assisted since the trilateral commission
45:46
was they his only deals with farms and
45:48
economic and political policy they asked
45:51
the people try why did you pick Carter
45:52
because he knew he said he didn’t know
45:54
he admitted he knew nothing about
45:55
foreign policy nothing nothing at all or
45:56
he knows about Georgia peanuts he talked
45:59
about how much he learned a wonderful
46:01
time about Commission was earner they
46:02
knew about foreign affairs from from
46:03
them so they asked the trial adequately
46:06
why did you pick quarter they said well
46:07
we wanted the input of a southern
46:08
governor on foreign affairs obviously is
46:10
they killed you had no input the real
46:12
reason obviously they wanted something
46:14
to make a groom for possible
46:15
presidential choice and sure enough
46:17
good material and by late 75 Indiana
46:23
pushing for president the publisher of
46:26
time of the time James and Linda the 4th
46:28
Time magazine is a member of the
46:29
Trilateral Commission
46:30
he put Carter on the cover the time and
46:33
nobody heard of a pushing harder a great
46:34
great guys on where someone start the
46:36
Carter boom car boom largely by
46:38
trilateral members but Carter gets in as
46:42
president his entire cabinet and top to
46:44
bottom written top down in the low to
46:47
middle levels will remember the trial
46:49
Alchemist considering there’s only a few
46:50
members pretty remarkable quarter
46:53
Mustapha the trilateral Asst Mondale has
46:56
vice dozens of trilateral lists big new
47:00
virgin ski the National Security Council
47:02
advisor of the trilateral as was
47:05
Kissinger from the Republicans we have a
47:08
tremendous difference there but both
47:10
Kissinger and and and the risky was Bo
47:14
Tong I was almost the same views on with
47:15
everything only difference seeing the
47:17
Kissinger Germans and produces Polish is
47:20
the only a fairly small difference the
47:24
second phase of the State Department the
47:26
secretary state with trilateral Cyrus
47:29
Vance and everyone almost all the people
47:30
in the top levels of State Department
47:32
and but the major difference is now on
47:37
between another team Rockefellers are
47:39
more either between the Eastern
47:40
establishment which now which is
47:43
basically rockefeller
47:44
which now covers the north the northeast
47:47
quadrant United States Mac I really
47:49
covered with fasces to so it’s in other
47:52
words New York Illinois Michigan and
47:55
even now even Georgia would be part of a
47:57
Eastern establishment this point the
48:01
this is one group one financial
48:03
political group the other big
48:04
Smashburger business was on the southern
48:06
rim headquartered in Los Angeles
48:11
Texas and Florida and why southern men
48:15
there are differences in style and
48:18
differences the contents mean they CH
48:19
they both are more like some more in
48:21
views basic protocol you get on the GU
48:23
point the Easter establishment has been
48:26
very cultured old money for that going
48:29
to gratin and
48:30
the George Bush for example the
48:32
beautiful example and even though I like
48:33
George visibility across the Texan oil
48:35
man that he was born in Connecticut
48:38
father was a Connecticut Senator then
48:40
moved to Texas needs a secured
48:42
combination of both any rate uh easier
48:45
establish that people are preppy tend to
48:46
be preppies when to Yale or Princeton
48:48
Harvard and also tend to buy why they’re
48:52
why their opponents out use money power
48:54
they’re familiar with us they buy out
48:56
Columbia Harbor the State Department
48:58
Kissinger for example just a simple
49:00
system professor associate professor
49:02
Harvard for Nelson Rockefeller
49:04
discovered him and made Kissinger his
49:06
foreign policy adviser on permanent
49:08
payroll you know he’s only governor of
49:11
New York
49:11
you wouldn’t think the government you
49:12
all would need a foreign policy
49:13
permanent foreign policy adviser anyway
49:15
so essentially buying out Columbia
49:18
Harvard acceptance after setting up this
49:20
is to for foreign relations or Russian
49:22
Studies Institute or whatever
49:24
these are established methods that is
49:25
deadline to purchase co-optation of
49:30
enemies the southern rim oh no these are
49:33
no the yet as the Yankee the southern
49:35
rim also known as the Cowboys tend to be
49:38
slightly more in favor of free markets
49:40
not not very much slightly more slightly
49:42
more favor of war international war
49:44
they’re not very much and also tend to
49:47
shoot their opposition rather than buy
49:49
them at a cowboy going to be tend to be
49:51
less favored intellectual opinion let’s
49:54
the favor free speech more favor of
49:56
shooting the opposition so the cowboy
49:58
type I think Yankee the Cowboys a great
50:01
term these people Lyndon Johnson free is
50:03
the quintessential quintessential cowboy
50:05
as would be John Connally of Texas
50:07
Nixon came from Los Angeles make them a
50:10
cowboy Reagan came in Los Angeles nice
50:11
and a cowboy Florida nobody’s come from
50:14
except maybe you’re a bozo
50:15
they say this Cuban a mere a close
50:18
friend of Nixon also involved with
50:20
offices possible run run run running
50:23
deals so cowboy ten more to an illegal
50:26
action of that way executive action is
50:30
the CIA so if you look at it from this
50:33
perspective let me see that for example
50:37
Kennedy was would have been eyebrow
50:39
force in the Eastern establishment
50:40
Kennedy recent establishment
50:42
on the quintessential Yankee and Johnson
50:46
was a cowboy and so we could then have
50:50
the Nixa Johnson mix you have Kennedy we
50:54
have Yankee tanking the Eisenhower and
50:58
Kennedy you know a different party then
51:01
we have Johnson the cowboy and Nixon
51:08
cowboy Ford was really Yankee because
51:11
four cups of Michigan is in with Easter
51:12
nostalgia and Reagan Carter also making
51:15
the region a cowboy so this makes for
51:19
example on this let’s here looking at it
51:21
this way you don’t look at the political
51:23
party if you look at their financial
51:24
backing and the kids the Kennedy
51:26
assassination that has an interesting
51:27
new light of the Kennedy assassination
51:29
namely possible possibility of a from a
51:32
cowboy takeover – assassination there’s
51:34
the effect of the assassination of
51:35
Johnson of course coming to power and if
51:39
you look at as a police act of police
51:41
measures the police problem usually
51:43
somebody’s kill you look of a
51:44
beneficiary they you know suffering
51:46
widow may be suffering a little bump the
51:48
guy off with a hundred million dollars
51:50
or whatever in this case possibly bump
51:52
them or for power and whatever walk goes
51:55
along with it and the bringing bringing
51:59
down of Nixon and Watergate shifting
52:02
Ford might well have been the
52:03
counter-attack by the Eastern
52:05
establishment using not it not not not
52:08
not just guns and weapons of the power
52:10
depressingly CBS to Washington Post it
52:13
cetera bringing in Nixon as a sort of
52:16
revenge motive for one thing it from for
52:18
the Kennedy assassination bringing
52:19
forward in all the racist expected
52:22
speculation should be so more into which
52:25
horses not being done much
52:35
you

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