THE FOUR CARDINAL ERRORS THAT ALMOST DESTROYED AMERICA
PART 5

By Professor Steven Yates
January 9, 2010
NewsWithViews.com

[Author’s note: this article is dedicated to the memory of William C. Yates Jr.—World War II Submarine Veteran, patriot, and devoted husband to my mother and father to my sister and myself—who passed away on December 23, 2009 at age 86.]

I.

The twentieth century saw the rise of new institutions for the financial domination of nations. The Bank for International Settlements was founded in 1930. Its two main founders were Hjalmar Schacht, a Rhodes Round Tabler who later became Hitler’s Reich Minister of Economics, and Montagu Norman, Governor of the Bank of England and a Fabian. The Bank for International Settlements would be the central bankers’ central bank, and therefore a major power center. About it Carroll Quigley would write:

“[T]he powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groupsâ€