The Rockefeller/Morgan Axis

(Excerpted from Chapter 18: The International Banksters: Big Oil & Their Bankers…)

In 1904 John Moody, founder of Moody’s Investor Services, stated that it was impossible to talk of Rockefeller and Morgan family interests as separate.  In 1975 of the $14.5 billion in Middle East oil revenues that made it to US shores 78% was deposited with just six mega-banks: Chase Manhattan, Morgan Guaranty Trust, Citibank, Bank of America, Manufacturers Hanover Trust and Chemical Bank.  In the 1960’s economist Peter Dooley identified fifteen major financial groups in the US.  The Rockefeller/Morgan group dwarfed the other fourteen.  It controlled five of six of the above-mentioned mega-banks.  Bank of America was controlled by the Rothschilds.  The group also controlled Banker’s Trust and Master Card. [795]

A 1980 study by the Senate Committee on Governmental Affairs titled Structure of Corporate Concentration concludes, “Financial institutions, part of or extensively interrelated with the Morgan-Rockefeller complex, are the dominant force in the economy.”  The Rockefeller/Morgan axis controlled American television via 23.1% ownership of CBS, 24.6% of ABC and 6.7% of NBC.  It controlled 20th Century Fox, the New York Times, Columbia House and AOL Time Warner. [796]  It owned Northwest, American and United Airlines.  In the mining sector, the combine controlled ASARCO, Reynolds and Kennicott.  Their Citigroup led the charge into the formation of bank holding companies, which allow the mega-banks to consolidate their control over the world economy via direct stock ownership of multinationals.

Sen. Lee Metcalf (D-MT) conducted a mid-1970’s investigation into concentration of economic power in the US.  He found that Chase Manhattan Bank was among the top ten stockholders in forty-two utility companies.  Citibank was a top ten owner of forty-one utilities.  Manufacturers Hanover was among the top ten shareholders of thirty-one utilities.  These three plus Chemical Bank controlled 38% of all foreign deposits in the US.  A 1973 Federal Reserve report stated that nine New York mega-banks held 90% of all oil industry debt, 75% of rubber and chemical industry debt and 66% of all machinery and metals industry debt. [797]

Most all Federal Reserve Chairmen have come from the Rockefeller/Morgan combine.  Paul Volcker came from Chase Manhattan.  When he stepped down from the Fed he became chairman of the Trilateral Commission, founded by David Rockefeller.  We’ll assume he got a promotion.  Alan Greenspan succeeded Volcker as Fed Chairman.  He came from Morgan Guaranty Trust and served on the board of Rockefeller’s Mobil.  The first Governor of the Federal Reserve was Paul Warburg of the German Warburg banking dynasty, while the first Governor of the powerful New York Fed was Morgan banker Benjamin Strong. [798]

The Rockefeller/Morgan combine controls three of the Four Horsemen, largely through its Banker’s Trust holding company and interlocking board directorates. It was only natural that in 2000 Chase Manhattan, having already absorbed Manufacturer’s Hanover Trust and Chemical Bank, merged with Morgan descendants Morgan Stanley, Morgan Guaranty Trust and J.P. Morgan & Company to form JP Morgan Chase.  The behemoth banks of Rockefeller and Morgan, recyclers of petrodollars for Iran, Saudi Arabia and the other GCC emirates, were now one.

With the advent of the oil spot futures market in 1973, the oil industry came under increasing control of investment bankers.  As a senior oil tanker industry source from Fearnly’s Research of Norway put it, “Today, between the day a given tanker is loaded with oil in, say, Dubai, and the time it is finally offloaded at, say, a US or Rotterdam refinery, that oil cargo could be sold 15-20 times or more.  Derivatives have made this possible…on either the London International Petroleum Exchange where Brent contracts for North Sea oil are sold, or on the Nymex (New York Mercantile Exchange) in New York, where West Texas Intermediate contracts are traded.  You only saw the first oil trader come in 1974 with Philbro Corporation..Today the market is totally dominated by traders.”[799]

In 2000 oil refiner Tosco- which had purchased many outdated Big Oil refineries following the passage of the 1990 Clean Air Act- filed a $10 million lawsuit in US Federal Court in the Southern District of New York.  The suit charges that Arcadia Petroleum, the oil trading arm of Japan’s Mitsui conglomerate, along with the Swiss oil trader Zug, used derivatives and futures contracts to create a market squeeze on the London exchange which sent gasoline prices skyward.

One week later OPEC President Ali Rodriguez of Venezuela countered US media propaganda that OPEC was to blame for the 2000 oil price spikes by releasing a report documenting how $8 is tacked onto every barrel of oil by speculative futures traders.  The report argued, “Speculation in the futures market and manipulation of the Brent market are the real cause of exploding oil prices over the past 15 months”. [800]

The dominant players in the oil futures market are Wall Street investment banking giants Morgan Stanley Dean Witter, Lehman Brothers, Goldman Sachs (through its J. Aron subsidiary), Citigroup’s Salomon Smith Barney (through Philbro), Merrill Lynch, UBS Warburg and Banker’s Trust.

Dean Henderson is the author of five books: Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries, Das Kartell der Federal Reserve, Stickin’ it to the Matrix & The Federal Reserve Cartel.  You can subscribe free to his weekly Left Hook column


4 responses to “The Rockefeller/Morgan Axis

  1. Reblogged this on The 99% Blog and commented:
    there is way too much money in the hands of far too few, and it’s even worse than you think….

  2. Pingback: Finance et Nouvel Ordre Mondial: l’axe Rockefeller / Morgan et le monopole financier (Dean Henderson) | Resistance71 Blog

  3. Pingback: L’axe Rockefeller / Morgan | Réseau International

  4. Pingback: L’axe Rockefeller / Morgan | AXE DE LA RESISTANCE

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