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Director:
Rajesh Seth
http://coat.ncf.ca/our_magazine/links/53/morgan.html
The House of Morgan
By Richard Sanders, Editor, Press for Conversion!
Many of those instrumental in the plot to oust FDR were linked to Wall Streets wealthiest banker, J.P. Morgan, Jr. They connected through a variety of banks and corporations that Morgan controlled. Likewise, many of the American Liberty Leagues key organizers and funders were also tied to Morgans business concerns. Pioneering antifascist journalist, John Spivak, considered J.P. Morgan, Jr., to be the ultimate fountain-head of the whole fascist conspiracy of Wall Street (New Masses, Feb. 5, 1935). Who was this banker that played such a key part behind the scenes? To understand his role, consider this statement by authors of the groundbreaking 1934 book, Merchants of Death: "In the U.S., the banker is the all-important person in industry.... While few cases are known where an important government official or member of Congress has been a director of an armament firm, all arms manufacturers have important financial connections. In the Morgan group will be found the DuPont Co., Bethlehem Steel Corp., U.S. Steel Corp., together with copper, oil, electric appliances, locomotive, telephone and telegraph interests. This tie-up also leads over into the great banks, including the National City, Corn Exchange, Chase National, etc. It is the Morgan Group of corporation clients and banks which dominate the American arms industry" (Engelbrecht and Hanighen).The foundation stones of the great House of Morgan banking empire were laid by Junius Spencer Morgan (1813-1890). Living in England, he hailed from a solid New England family of merchants. In 1854, he became a partner in a London bank owned by George Peabody. Ten years later, Morgan took over the bank, renamed it J.S. Morgan & Co. and engaged in foreign exchange and gold speculation.It was in 1861 that Morgan pulled off a cunning scam foreshadowing his career as a high-class confidence man and his tremendous lack of moral scruples. In the 1850s, the U.S. army had condemned as obsolete and dangerous some rifles. These rifles were...sold by auction [for] between $1 and $2, probably as curios. In 1861, he bought 5,000 of the useless weapons for $3.50 each and sold them back to the Army for $22 apiece, making $92,500, a small fortune. When [General] Frémonts soldiers tried to fire these new carbines in perfect condition, they shot off their own thumbs. The government refused to pay Morgans bill. Morgan promptly sued the govern-ment. A special commission allowed half of [his] claim, and proposed to pay $13.31 a carbine. Morgan sued [again] and the court promptly awarded him the full sum, because a contract is sacred" (Engelbrecht and Hanighen, 1934).
After the Civil War, Morgan loaned money to the U.S. treasury at high interest rates. In 1871, he financing the Armys payroll and in 1877, he refinanced the governments debt. After his father, Junius, died in 1890, J.P. Morgan began consolidating the family empire. He put himself at the helm of their four main firms, in New York, Philadelphia, London and Paris. Several times in the 1890s, he sold the government gold to shore up the dollar. He also sold official U.S. and British government bonds.In 1944, McKittrick met with his German, Japanese, Italian, British and American executive staff to discuss the $378 million in gold that had been sent to the Bank by the Nazi government after Pearl Harbor for use by its leaders after the war. Higham explains that this gold had been looted from the national banks of Austria, Holland, Belgium and Czechoslovakia, or melted down from the Reichsbank holding of the teeth fillings, spectacle frames, cigarette cases and lighters and wedding rings of the murdered Jews.In one of the biggest deals ever, J.P. Morgan and Bank One recently agreed to merge to create the worlds second-largest financial enterprise. It will have $1.1 trillion in assets.
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Angaaray(1986)Aaj Raat Bankeh Main aai hoon saki-aaj raat itni piloongih mein-by 89AYODHYARAMKOT201610,747 views
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