Wall Street creditors are the main actors.
They were firmly behind Nazi Germany. They financed Operation Barbarossa and the invasion of the Soviet Union in 1941.
1932 Secret Agreement: Wall Street Finances Hitler’s Nazi Party
“On January 4th, 1932, a meeting was held between British financier Montagu Norman (Governor of the Bank of England), Adolf Hitler and Franz Von Papen (who became Chancellor a few months later in May 1932) At this meeting, an agreement on the financing of theNationalsozialistische Deutsche Arbeiterpartei (NSDAP or Nazi Party) was reached.
This meeting was also attended by US policy-makers and the Dulles brothers, something which their biographers do not like to mention.
A year later, on January 14th, 1933, another meeting was held between Adolph Hitler, Germany’s Financier Baron Kurt von Schroeder, Chancellor Franz von Papen and Hitler’s Economic Advisor Wilhelm Keppler took place, where Hitler’s program was fully approved.” (Y. Rubtsov, text below)
Upon the accession of Adolph Hitler as Chancellor in March 1933, a massive privatization program was initiated which bears the finger-prints of Wall Street.
Dr. Hjalmar Schacht –re-appointed in March 1933 by Adolph Hitler to the position of President of The Reichsbank — was invited to the White House (May 1933) by President Franklin D. Roosevelt.
“After his meeting with the U.S. President and the big bankers on Wall Street, America allocated Germany new loans totalling $1 billion” [equivalent to $23.7 billion in 2023, PPP estimate] (Y. Rubtsov, op cit)
The Deutsche Reichsbahn (German Railways) was privatized. The Nazi government sold off State owned shipbuilding companies, state infrastructure and public utilities.
With a “Nazi- Liberal” slant, –no doubt with “conditionalities”- the privatization program was negotiated with Germany’s Wall Street creditors. Several major banking institutions including Deutsche Bank and Dresden Bank were also privatized.
“[T]he government of the Nazi Party sold off public ownership in several State-owned firms in the mid-1930s. These firms belonged to a wide range of sectors: steel, mining, banking, local public utilities, shipyards, ship-lines, railways, etc.
In addition, the delivery of some public services that were produced by government prior to the 1930s, especially social and labor-related services, was transferred to the private sector, mainly to organizations within the party.” (Germa Bel, University of Barcelona)
The proceeds of the privatization program were used to repay outstanding debts as well as fund Nazi Germany’s buoyant military industrial complex.
Numerous U.S. conglomerates had invested in Nazi Germany’s arms industry including Ford and General Motors:
Both General Motors and Ford insist that they bear little or no responsibility for the operations of their German subsidiaries, which controlled 70 percent of the German car market at the outbreak of war in 1939 and rapidly retooled themselves to become suppliers of war materiel to the German army.
… In certain instances, American managers of both GM and Ford went along with the conversion of their German plants to military production at a time when U.S. government documents show they were still resisting calls by the Roosevelt administration to step up military production in their plants at home. (Washington Post, November 30, 1998)
“A Famous American Family” Sleeping with the Enemy. The Role of Prescott Bush
Of significance: “A famous American family” made its fortune from the Nazis, according to John Loftus’s documented historical analysis.
Prescott Bush (grandfather of George W. Bush) was a partner in Brown Brothers Harriman & Co. and director of the Union Banking Corporation, closely linked to the interests of German corporations, including Thyssen Stahl, an important company involved in the arms industry of the Third Reich.
The Bush family links to Nazi Germany’s war economy were first brought to light at the Nuremberg trials in the testimony of Nazi Germany’s steel magnate Fritz Thyssen.
Thyssen was a partner of George W. Bush’s grandfather Prescott Bush:
“From 1945 until 1949 in Nuremberg, one of the lengthiest and, it now appears, most futile interrogations of a Nazi war crimes suspect began in the American Zone of Occupied Germany.
Multibillionaire steel magnate Fritz Thyssen –-the man whose steel combine was the cold heart of the Nazi war machine– talked and talked and talked to a joint US-UK interrogation team.
… What the Allied investigators never understood was that they were not asking Thyssen the right question. Thyssen did not need any foreign bank accounts because his family secretly owned an entire chain of banks.
He did not have to transfer his Nazi assets at the end of World War II, all he had to do was transfer the ownership documents – stocks, bonds, deeds and trusts–from his bank in Berlin through his bank in Holland to his American friends in New York City: Prescott Bush and Herbert Walker [father in law of Prescott Bush]. Thyssen’s partners in crime were the father and [grandfather] of a future President of the United States [George Herbert Walker Bush]. (John Loftus, How the Bush family made its fortune from the Nazis: The Dutch Connection)
The American public was not aware of the links of the Bush family to Nazi Germany because the historical record had been carefully withheld by the mainstream media. In September 2004, however, The Guardian revealed that:
George Bush’s grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany. …
His business dealings, which continued until his company’s assets were seized in 1942 under the Trading with the Enemy Act, has led more than 60 years later to a civil action for damages being brought in Germany against the Bush family by two former slave labourers at Auschwitz and to a hum of pre-election controversy.”
(Ben Aris and Duncan Campbell, How the Bush’s Grandfather Helped Hitlers Rise to Power, Guardian, September 25, 2004)
Screenshot, The Guardian
Evidence of the Bush family’s links to Nazism was available well before George Herbert Walker Bush (Senior) and George W. Bush entered politics.
The U.S. media remained totally mum. According to John Buchanan (New Hampshire Gazette, 10 October 2003):
After 60 years of inattention and even denial by the U.S. media, newly-uncovered government documents in The National Archives and Library of Congress reveal that Prescott Bush, the grandfather of President George W. Bush, served as a business partner of and U.S. banking operative for the financial architect of the Nazi war machine from 1926 until 1942, when Congress took aggressive action against Bush and his “enem\\y national” partners.
The documents also show that Bush and his colleagues, according to reports from the U.S. Department of the Treasury, tried to conceal their financial alliance with German industrialist Fritz Thyssen, a steel and coal baron who, beginning in the mid-1920s, personally funded Adolf Hitler’s rise to power by the subversion of democratic principle and German law. Furthermore, the declassified records demonstrate that Bush and his associates, who included E. Roland Harriman, younger brother of American icon W. Averell Harriman, and George Herbert Walker, President Bush’s maternal great-grandfather, continued their dealings with the German industrial tycoon for nearly a year after the U.S. entered the war.
While Prescott Bush’s company’s assets, namely Union Banking Corporation were seized in 1942 under the Trading with the Enemy Act (See below), George W. Bush’s grandfather was never prosecuted for his business dealings with Nazi Germany.
“In 1952, Prescott Bush was elected to the U.S. Senate, with no press accounts about his well-concealed Nazi past.
There is no record of any U.S. press coverage of the Bush-Nazi connection during any political campaigns conducted by George Herbert Walker Bush, Jeb Bush, or George W. Bush, with the exception of a brief mention in an unrelated story in the Sarasota Herald Tribune in November 2000 and a brief but inaccurate account in The Boston Globe in 2001.” (John Buchanan, op. cit)
Up until Pearl Harbor (December 1941), Wall Street was trading with Germany.
In the wake of Pearl Harbor (1941-1945), Standard Oil “was trading with the enemy” selling oil to Nazi Germany through the intermediation of so-called “neutral countries” including Venezuela and Argentina.
Without the U.S. supply of oil to Nazi Germany instrumented by Standard Oil of New Jersey, the Third Reich would not have been able to invade the Soviet Union.
—Michel Chossudovsky, November 21, 2023
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