Strange Death of Franklin Roosevelt - Emanuel Josephson

Rockefeller Empire and Dynasty Merge
A 'New Deal' for Monopolies

World wide monopoly of industry and commerce is the goal of the Rockefeller Empire and its allies and agents, the Roosevelt-Delano Dynasty. That is the planned purpose of "New Deal" for themselves.

The industrial monopolies which they control are fed from the Treasury and the public's purse. Their Milk Trust's monopoly was extended, and even in depression the price of milk was tripled. Their monopoly of food has been widened, with the cooperation of the truckmen's unions, to the point where they maintain a constantly high price even for produce, throughout the nation the entire year.

The seizure of industries which they did not control and the setting up of new monopolies assumed a fresh pattern under their New Deal. No longer was it necessary for them to resort as individuals to the racketeering of the South Side Improvement Company type and risk public indignation. Their agencies, the Government and the unions, do their dirty work, undermine the industries which they seek, smash them so as to force out the investing public and form them into monopolies to be taken over.

When these things are done by the "New Deal" they have the complete support of the very radical and labor elements which would rail at them if done by private enterprise for itself. By some curious quirk of mentality akin to faith, they are happy and content when these crimes are committed for the benefit of the same private cartels through public agencies by themselves as agents, at public expense. For the "liberal" or radical does not seek to remedy evil situations. He merely seeks to be master of them himself. He is motivated not by principle but by envy and unprincipled greed. That was the Machiavellian idea that lay behind the Rockefeller support of Communism and its incorporation in the New Deal mechanics for attaining monopoly and dictatorship.

The NRA (National Industrial Recovery Administration) and the Federal Securities Act with its provision barring holding companies and enhancing the Federal Reserve Board's power to regulate money, constituted the initial effort to accomplish a complete cartelization of all industries.

The NRA was openly a device for setting up monopolies or giving legality to existent monopolies, in their own interest, in every industry. It specifically suspended the Sherman-Clayton Anti-Trust Act and permitted each industry to organize itself under an absolute code authority.

The man who controlled the Code Authority wielded dictatorial powers over an absolute monopoly. The rules promulgated by the Code Authority had the force of law for both industry and the nation. It fixed prices, controlled production, licensed producers, admitted or barred newcomers from the industry, set conditions of competition, prescribed the amount of space and the machinery that could be used; and also possessed police and judicial powers and could put violators in jail. As a sop to Labor, a minimum wage of $12 to $15 per 40 hour week was provided and Section 7A recognized the right of collective bargaining. In other words the NRA created a syndicalist or corporate state in the U.S. at about the same time as had Mussolini and Hitler, whose sponsors were the same as those of the NRA.

The SEC established by the Federal Securities Act, is a device for tightening the monopoly of industries by control of financing. Its power to block new financing is absolute. Likewise its order to wipe out investments in railroad and utility securities is final. But it offers stockholders absolutely no protection. On the one hand numerous securities that have been passed on by the SEC and marketed, have been wiped out within a period of one or two years. On the other hand numerous worthwhile and essential enterprises have been barred from financing. Its effect on the mining industry for instance, has been devastating; and as a consequence the U.S. is becoming constantly less self-sufficient in strategic minerals and metals.

In short the SEC was never intended to serve the interests of the investor, but was planned to foster the purposes of the monopolies. This is quite manifest in its utility securities activities. In this group of securities alone, the SEC has wiped out, in a decade, more of the public's investments than all of Wall Street's swindles of a century past.

The Roosevelts, the Adamses, the Rockefellers and many other of the Dynasty and its allies are heavily interested in local utilities. They did not, however, join the ranks of the utility magnates who scrambled to attain in the twenties, with banking support, widespread utility empires in the wildly speculative market. It was not because the Dynasty did not realize the tremendous riches of the basic and essential power industry. On the contrary, in their plans a monopoly of all sources of power and energy, as comprehensive as their American Telephone and Telegraph Company in its field, that will extend from the Arctic to Tierra del Fuego, looms very large. It was because they control the currency and banking system as well as the government and have acquired even greater strength through the enhanced powers they have given themselves through the Federal Reserve Bank. They were confident that they were safe in permitting others to develop the power systems with moneys invested by the public. Then by manipulating a depression as well as by retroactive laws written for the purpose, they could rob their rivals of their work and the public of their investments. That is the purpose of the abolition of holding companies and the power over utilities incorporated in the Federal Exchange Act.

The SEC has directed a looting of the public of its investments in utilities that is fully comparable with those perpetrated by the Nazis and Communists. By dishonest and wholly illegal and un-Constitutional acts that have been supported by corrupted and packed courts, the conspirators that control the SEC deliberately depressed and manipulated the market for utility securities by its orders and rulings.

The TVA was used for the malevolent purpose of smashing the market in utility securities. On the day that the ruinously low rates for TVA power were to be announced, the press and the nation were kept waiting for Commissioner David E. Lillienthal from 10:30 A.M. until after the markets had closed. In the meantime a terrific wave of short selling hit the utility bonds and stocks that depressed them terrifically. Washington phone calls to Wall Street were particularly heavy that day, especially from the Reconstruction Finance Corporation offices. There can be no question that the announcement of the TVA rates was a prearranged signal for a "killing" in the market by the conspirators. These maneuvers cost the investing public hundreds of millions of dollars. The market for utility securities was smashed and they dropped steadily thereafter.

The Federal Reserve Board has ably aided and abetted the swindling of the public by manipulation of margin requirements. Repeatedly it has forced the public out of stock desired by the powers-that-be by raising margin requirements, at the bottom of the market, just before large upswings were planned.

The conspirators then bought up at their own price, or virtually stole, a particular class of security in each company. It has been a simple matter for them to dictate that the particular class of security which they had cornered shall be given complete control of the utility in question, all senior securities shall be retired and junior securities wiped out, without regard to earnings or values.

It is safe to predict that when the nation's utility companies will have been "simplified in structure" (a euphemism for "stolen") they will be, in due time, merged into a nation-and-continent-wide Power Trust, under the domination of the Rockefeller Empire and its Dynastic allies. This they have accomplished through their agent, FDR.

The public has been looted, under the direction of the Interstate Commerce Commission, during the Roosevelt Administration of many more billions through another industry dominated by the Dynasty and its allies, through the railroads. The Roosevelts, the Delanos, the Rockefellers, the Harrimans and numerous others of America's rulers are heavily interested in railroads.

The Interstate Commerce Commission which they dominate, exercises absolute control over the minutest details of the operation of the railroads and their rate structure. It is a simple matter for them to boost the earnings of the railroads when they own their securities, and to wipe out the earnings and force them into receivership after they have unloaded the securities on the public. This is done periodically.

The I.C.C. dictates the terms for lifting of the receiverships, subject to court approval.

The Supreme Court decision in the Chicago, Milwaukee and St. Paul Railroad case has introduced several new "principles" into American jurisprudence, that contrast oddly with what has been regarded as honesty and sound law consonant with it.

The railroad had been in 77b receivership for several years following a period of earnings that were fixed by the I.C.C. so low that it could not meet its fixed charges. After the onset of hostilities in Europe, the earnings of the road rose rapidly to a point where all arrears on bonds could be paid off in full out of cash on hand and leave the company more than adequate capital for its future operations—in short the railroad became completely solvent and highly prosperous. If it were required, refinancing could have been arranged readily.

If this condition should arise in the affairs of a private individual in bankruptcy, he would be deemed guilty of fraud if he failed to pay off his indebtedness in full and thus secure discharge from bankruptcy. But in the case of the railroad, the Court ruled that the company is not bound by the ethical or legal principles that apply to individuals. Instead of ordering the corporation to pay off its indebtedness and secure its discharge from receivership, as it wished to do, the Supreme Court did the reverse. It ordered the railroad to do what would be ruled as fraudulent on the part of a private individual, i.e. to refuse to meet its obligations in full, to wipe out the major part of its debts, to defraud its creditors and stockholders, and to settle even mortgage and other protected claims at a fraction of their face value.

The legal support of fraudulent bankruptcies by the highest court of the land is a new "principle" in American jurisprudence.

But an even stranger departure is the reason assigned by the Court for its decision.

The Court acknowledged that the railroad was completely solvent at the time of the hearing. But it assumed the role of oracle and undertook to predict that after the war the earnings of the road would drop and it would no longer be solvent. For this reason it ordered a fraudulent settlement to be compounded by the Company. Subsequent events proved the Court a rotten prophet. The earnings of the road continued very high.

In this decision the Supreme Court has given legal support to the crime of fortune-telling, and has given divining and soothsaying a recognized role in arriving at legal decisions.

In this act the Supreme Court has given divining and fortune-telling greater weight in our law than it ever had even among the Romans at the time when these procedures were part of their faith and practice. It has returned American jurisprudence to a status as primitive as that of Medieval law, with its "trial by ordeal". It has nullified the entire code of law that has been built up to protect honest commercial practice. For it is a matter of record that few enterprises survive for more than a generation and most of them terminate bankrupt; and under this decision the Courts could safely divine that the majority of debtors will eventually be bankrupt and order them to defraud their creditors, as in the St. Paul case. The decision has wiped out billions of railroad investments. It is another of the New Deal devices to "distribute wealth" in certain favored directions only.

The NRA proved unwieldly and unmanageable. While it was highly successful in wiping out tens of thousands of small businesses, it failed to permit the wrecking of larger units, the control of which the conspirators sought. The report brought in by the NRA Board of Review and signed, among others, by Clarence Darrow, found that the NRA was being used to foster monopoly. Senator Borah made the same charge on the floor of the Senate. The Supreme Court was called upon to declare the NRA un-Constitutional, which it did on the perfectly correct ground that it was an abdication of its Constitutional powers by Congress. Unfortunately, though this is equally true of virtually all of the New Deal, the packed and biased court has seen fit to so rule only when it serves the interests of the rulers.

With the launching of the NRA the Federal Reserve Board and other banking pressure for prolonging the depression had been relieved slightly. Business began to pick up, but not too much; because that would have upset the plans for extending monopolies. The failure of the NRA to accomplish its purpose called for resumption of the depression. President Roosevelt was put into service to mouth vigorous threats and attacks upon business with the object of smashing the stock market, and banking pressure was resumed to force a new depression in the same manner as had been done in 1929.

The Supreme Court decision wiping out the NRA was made the ground for a propaganda drive for immediate packing of the Supreme Court, instead of waiting to accomplish it gradually as called for by the blueprint of the New Deal. For it was recognized that dictatorship, in addition to being the ultimate goal, was the sine qua non of the immediate objectives.

The attitude of the nation and of Congress made it apparent that dictatorship and industrial monopoly could be attained only by the Lenin formula of national bankruptcy. The squandering involved in prolonging the depression, in the Agricultural Allotment Plan, in Relief, and in other deliberately wasteful measures had not irreparably damaged the solvency of the nation. Only war, civil and external, could accomplish this. War was also required to attain world-wide monopoly and fitted into the Imperial scheme.