Financing Industry
The Rothschilds financed Cecil Rhodes’ diamond and gold monopoly in South Africa under the firms, De Beers Consolidated Mines and Consolidated Gold Fields. Baron Lionel de Rothschild underwrote the Crimean War Loan, loaned Britain £4 million to acquire Egypt’s shares in the Suez Canal Company, to protect Britain’s sea route to India. They funded the Royal Institute of International Affairs (the British version of the CFR) and the Roundtable Organization in 1891. The Rothschilds organized a copper operation after the collapse of the French Copper Syndicate in 1889. They seized control of the Boleo mine in Baja California and Rio Tinto, copper mines located in Spain and Bolivia. The Rothschilds awarded Herbert Hoover, a longtime agent, a directorship at Rio Tinto. They also controlled other mining interests in nickel, silver, and gold. They promoted the Triple Entente, an alliance between Britain, France, and Russia to oppose Germany and their developing interests.
The Rothschilds financed the Vanderbilt’s and Harriman’s Railroad interests, and Carnegie’s steel industry. Édouard Alphonse James de Rothschild, head of the de Rothschild Frères bank, was a partner at BNP Paribas, a conglomerate of 400 of the 800 most important firms on the Paris stock exchange. It is the largest global banking group in the world and they have headquarters in Paris and in London. They own Reuters, the Associated Press, Havas, and Wolff and have controlling interests in NBC, CBS, and ABC. They are still gold agents for Britain and control the London Bullion Market Association. Beginning on Friday, September 12, 1919, The London Gold Fix has been a regular feature of the international gold market. On that day, the five gold pool members met for the first time, at N.M. Rothschild, in London. A Rothschild was the chairman until 2004.[125] Given their gold monopoly and their control of its value, I discourage personal gold investment. They have previously devalued their own currency and resources as a way of trading the product of your hard-earned labor for high-priced gold, a commodity that they totally control.
In 2004, N. M. Rothschild & Sons relinquished their position with regard to fixing the price of gold. Barclays Bank of Nova Scotia (Scotia Mocatta) assumed the leadership role in the process of fixing the world price of gold. It is currently a telephone process.[126]
Control of the Banks
The substance of an international monetary system existed long before the emergence of the international gold standard in 1873. International bankers, such as the Rothschilds, established a global network of foreign exchange and precious metal arbitrage, which they operated from Paris and London. The international bankers had networks of correspondents who had “expertise in arbitrage,” and who became the principal operators of bimetallism on a global level. They developed “service components” such as handling and transporting. They engaged in industrial pursuits such as melting and coining. They initially constructed the international monetary system that has persisted into the current decade, with agencies that have merged to create the money monopoly that governs world commerce.[127]
The House of Rothschild and especially Rothschild Frères was not the only bank to engage in bimetallic arbitraging but “bimetallism was a Rothschild business.” The use of bullion emerged as the international exchange and control of the distribution of bullion accomplished a central function in achieving dominance over the international monetary system. The bank that possessed the most effectual organization for collecting and transporting bullion had a significant advantage over its competitors. It could arbitrage, using reduced profit margins and thereby capture a “larger part of the exchange market; it could buy and sell bills at rates which its rivals could not match, and so attract a bigger share of international clearing operations.”[128]
Huibert Schijf, of the University of Amsterdam, wrote, “The present discourse on globalization often
seems to ignore that international commercial networks have already been in existence for a very long time. The networks of internationally operating Jewish bankers in the nineteenth century are an example to show how this worked in nineteenth century Europe.”[129]
By the early 1830s, the Rothschild brothers, positioned in strategic European capitals, were multi- national bankers who employed agents, correspondents and satellite-banking houses in other cities. In the Netherlands Becker & Fuld became a satellite-banking house in Amsterdam. Moses Ezechiëls & Zoonen operated a Rothschild correspondent bank in Rotterdam where they managed extensive business requests. Beginning in about 1830, the Rothschild had business dealings with M.M. Warburg & Co. in Hamburg. In Berlin, at about the same time, the Bleichröder bank functioned as an agent for the Rothschilds.[130]
N.M. Rothschild, between 1820 and 1830, utilized a commercial business network throughout Western Europe. The Rothschild brothers, led by Nathan, had access to information that others lacked, giving them the opportunity to make investments, and purchase bonds. Focusing on just one banking family is a disadvantage because so many others, using the same strategies, successfully devised their own interconnecting networks.[131]
The majority of the international financiers were Jewish bankers who originally came from Germany but maintained close communication with their agents, correspondents, commercial partners and family branches in Germany. Numerous families from Frankfurt sent their sons to European capitals like Amsterdam, Brussels, London, Paris and Vienna to establish banks. Sir Ernest Cassel, the personal banker to Edward VII, a Court Jew, collaborated with his friend, Jacob H. Schiff. Cassel was born in Cologne, Germany where his father Jacob Cassel owned a small bank. Ernest Cassel relocated to Liverpool. Adolph J. Rothstein was a manager of an the International Commercial Bank of Russia and the Russo- Chinese Bank in St. Petersburg at the time that James A. Stillman and numerous other bankers, J. Pierpont Morgan, E. H. Harriman, and Jacob H. Schiff, among others gave Rothstein an informal dinner party at the Metropolitan Club on June 20, 1900. They gathered, according to The New York Times, to discuss the Chinese question.[132]
Adolph J. Rothstein was born in Berlin, but he learned about banking in England. He and his assistants conducted the conversations with his Russian clients in French. Another important banker, of German origin, was Moritz Königswarter, son of Jonas Königswarter. He was an Austrian banker and philanthropist, originally from Fürth. He was a director of a great number of railroads and financial institutions; and he acted as consul-general for Denmark. Others included Salomon Rothschild (one of the five brothers) from Frankfurt; Zsigmond Kornfeld, who was born in the Czech town of Golčûv Jenikov, the grandson of Aharon Kornfeld, the last head of a yeshiva in Bohemia. Kornfeld, an employee of the Viennese Creditanstalt (Rothschild), managed a branch bank in Budapest. He gained banking experience with Thorsch in Prague. Karl Morawitz left a small town in Bavaria to join the Banque de Paris et des Pays Bas in Paris. In 1885, he went to Vienna where he was on the board of the Anglo-Austrian Bank in which both Ernest Cassel and Maurice de Hirsch had interests.[133]
Numerous Jewish bankers in the early 1800s descended from families that did not necessarily affiliate with banking but rather started as traders in precious items such as silver, gold or diamonds. Many of them, like Mayer A. Rothschild, functioned successfully in the specialized peripheral economy of money exchange. Others, the so-called court Jews, functioned as the financial managers of kings and princes, especially in Germany. During the nineteenth century, the industrial revolution transformed the financial pursuits of many bankers who began financing railway lines throughout Europe. Instead of financing government entities, they took on the responsibility of financing new industries. They also founded new banks, modeled after the French Crédit Mobilier. They typically did not act as moneylenders but as coordinators of loans. Alternatively, they participated in syndicates or networks wherein they managed
new bonds and stocks. They were traders in stocks and bonds and did not subject themselves to the potential personal loss of value-backed moneylending.[134]
The Rothschild’s Gold Operations
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