The reader should remember that these bankers make money by selling bonds, not by holding them until they are repaid. When financiers lobby to forgive debt, they are setting up more profits for themselves while asking the general public to eat the losses. The same trick is used today through the IMF, World Bank and their various off-shoots. Foreshadowing The way that the new loan was designed would have created an economically unified Europe in one sweep. The bankers would become the central planners of this empire, not unlike the Bolsheviks in Russia two years before, or the planners in Brussels today. Vanderlip disclosed why it was important that the bankers hold the new loan. He explained how European governments could pay the interest: by giving the bankers first lien on the customs of each country. This means Europe would pay the bankers with their products. The financiers would determine how the loans were parceled out to each country, and what industries get what materials. The point is that the bankers would control the resulting monopolies. This is exactly what international financiers liked about Communism and early Fascism. Far from being a champion of “self-determination,” the US president assisted these financiers behind Congresss and the Senates back. Wilson chose to ignore the fact that the House and Senate had to ratify his proposals before they became law or Americas commitments. Why? It was obvious that the United States Congress was not politically disposed to the financiers aims. In Senator Borahs words, Woodrow was acting like “President of the World.
Posted on: Mon, 17 Mar 2014 12:21:56 +0000
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