Banks

by Paul Trog

Shortly after World War II, in the late nineteen-forties, as a very young man, I was hired by the Swiss Bank Corporation to do a comprehensive bank apprenticeship at their national headquarters in Basel. At that time, SBC was the largest banking institution of Switzerland.

For over two years, I moved from department to department, getting everywhere as thorough a business overview as possible, buttressed by detailed oral and written explanations. It was practical and 'hands on' learning. I was encouraged at all times, to ask questions and take notes. I remember most vividly my rather lengthy stay in the Financial Department. The recurring talk in those days was about 'Stille Reserven', which means off-the-books financial reserve creation.

I remember large tables on which enormous stacks of varied shares and bonds were kept, always in two distinctly separate piles:

On the one side were those with a clear and clean affidavit of ownership. These shares and bonds belonged to customers from the victorious Allied Nations or neutral countries.

On the other side, there were those of questionable origin and murky ownership. I don't remember what Rio Tinto and Standard Oil shares were worth in those days, but others, of German companies for instance, were to become extremely valuable indeed in the years that followed.

A rubber stamp and the signature by a bank officer was needed to solve the ownership problem. I remember a bank Vice President signing shares and bonds eight hours a day every day, while I was discharging my various duties in the "Rechnungs-Abteilung*.

In this instance presumably, conflict and chaos in Europe generated profit.

The Swiss Bank Corporation later joined forces with Switzerland's second largest bank and emerged as the UBS Corporation we know today.

At the end of last year, when alarm bells went off signalling an impending credit freeze encompassing the largest bank institutions of America, I was sceptical indeed. I doubted the veracity of the facts presented to the American people. The frantic efforts by Treasury Secretary Paulson, a former CEO of Goldman Sachs himself and Mr. Bernanke, the Chairman of the Federal Reserve Bank, (which is mostly owned by foreign Banks, like the Rothschild Bank of London for instance), to stabilize the credit situation, were contrived, I thought.

Indisputably, enormous losses were incurred when the housing bubble burst. But where did all the huge profits go, that were made BEFORE the crisis hit? Were they salted away into "Stille Reserven", off-the books reserves of the large investment banking institutions which are still not monitored by the U.S. Securities and Exchange Commission?

To make the crisis believable, I surmised, one of the large investment banks had to fail; it was Lehman Brothers: They filed bankruptcy on Sept. 15th, 2008. A few days earlier, Barclay's Bank was still engaged in serious take-over talks with Lehman Brothers. However, as reported in the New York Times of September 14th, 2008, the deal to rescue the bank suddenly collapsed. It emerged subsequently that the purchase was vetoed by the Bank of England. That is when my suspicions hardened.

There are different schools of thought about the Bank of England's ownership structure; but it is certain, however, that its decision-making process is heavily influenced by the Rothschilds of London, who own a sizable chunk of the U.S. Federal Reserve Bank.

That dozens of the regional banks subsequently went 'belly up' can only be to the advantage of the large, nationwide institutions. For them, stopping the growth of the small regional banks has always been a priority.

The monitoring of some of the banking sectors by chairman Christopher Cox's agency was woefully inadequate. The Commission is understaffed was the excuse and furthermore, its authority is limited by law in many instances. But gross control failures, the Madox fraud is a prime example of the problem, was proof of either unforgivable incompetence or wilful disregard of the facts.

The crisis was contrived, I concluded, in order to open the door for the use of tax money instead of disbursing their own precious funds to pay off their considerable losses. I was proved right in one instance - when a great number of Tarp money recipients REQUESTED VOLUNTARILY to repay the government loans immediately, when it turned out that the bonuses of corporate directors and top management were to be severely curtailed by law! Where did all that money suddenly emerge from? Why was the outcry about that incredible swindle so muted? Why did the Federal Reserve Transparency Act HR 1207 die on the vine in the Senate because of 'procedural problems'?

Obama's socialism must be rejected because it leads the USA unavoidably into the enslavement of GLOBALISM'S totalitarian system.

But indeed, to do so, our capitalist system must be cleaned up urgently. The grip of the special interests and lobbies on the American economy and our legislative bodies, must be broken.

The Rothschild banking family, one of the owners of our Federal Reserve (among other international banking institutions), has a history spanning over 200 years of manipulating national economies and profiting from conflicts. Indeed, conflict and crisis generation for profit has been a speciality of theirs. In the early eighteen-hundreds, during the Napoleonic wars, the Rothschild Bank in Paris was financing Napoleon while the Rothschild Bank of London was financing the British war effort.

Congress must regain control of the Federal Currency and our tax moneysupply. The Federal Reserve Bank should be dissolved!

Innsbruck, 08/24/09