THE COAL CARTEL

Setting the Scene for World War II

In 1929, International Bankers triggered the Great Depression.

after they, their agents, and friends had sold out at the crest of an artificially inflated stock market boom, they pulled the rug out from under the system and sent the US plunging into what became known as the Great Depression.

This economic catastrophe slowed global economies to a near standstill.

The United States stopped lending to Germany, causing a severe drain on the German gold reserve.

15% By 1931, Germany's discount rate had skyrocketed to

This drastic action reduced German industrial activity.

When Germany's pleas for relief on her reparation payments were rejected, her situation worsened.

In this climate of debt and fear, Adolph Hitler and his National Socialist Party emerged.

Hitler's promises to free Germany from the Versailles Treaty and provide "living room" for the population resonated with millions of Germans.

When the Nazis came to power in 1933, they found that Germany had been preparing for war from an economic and industrial point of view.

American capital that had flooded into Germany under the Dawes Plan after 1924 formed the basis for Hitler's war machine.

As Dr. Antony C. Sutton points out, "the contribution made by American capitalism to German war preparations before 1940, can only be described as phenomenal."

Leading American banking and industrial interests were heavily involved in the rise of Hitler's Third Reich.

In the years prior to World War II, an international cartel,

I.G. Farben, dominated the world's chemical and drug industries.

It became the largest industrial corporation in Europe and the largest chemical company in the world.

Germany, lacking oil deposits but abundant in coal, sought to convert coal into gasoline.

By 1920, German chemists had discovered ways to make large quantities of hydrogen and convert it into liquid coal products.

This discovery led to the creation of a worldwide cartel.

Farben and Standard Oil were now 'married' Under an agreement on November 9, 1929.

Standard Oil was given a one-half share of all rights to the hydrogenation process in all countries except Germany.

Both parties agreed to never compete with each other in the fields of chemistry and petroleum production.

two years later, Farben signed what was known as the Alig Agreement with Alcoa in which the two companies pooled all their patents and knowledge in the production of magnesium.

When Henry Ford established an auto plant in Germany, Farben bought a forty percent interest.

Henry Ford's son Edsel, joined the board of directors of I.G. Chemical Co. did Walter Teagle, president of Standard Oil, Charles E. Mitchell, president of Rockefeller's National City Bank of New York, and Paul Warburg of the Federal Reserve System.

where have we seen this same thing happening?

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