Beginning with discussion of major German corporations’ restructuring of their capital situations, this program further develops the analysis of maneuvering by corporate Germany. (Underlying the analysis is the remarkable and deadly Bormann organization, the economic component of a Third Reich gone underground. Although this might seem absurd or incomprehensible to newer listeners, this fearsome organization is a reality.)
Siemens, BASF (one of the components of the old I.G. Farben Nazi chemical company) and media giant Bertelsmann have been reorganizing their financial underpinnings in order facilitate purchases of other corporations. In particular, these corporate giants appear to be aiming at the acquisition of American companies.
The program highlights the growing role of German capital in the financing of Hollywood .
The broadcast sets forth the merger between Deutsche and Dresdner banks. Major commercial banks that played a central role in the Third Reich, their merger creates what is arguably the world’s largest financial institution. In addition, the program highlights the profound involvement of German insurance giant Allianz in the Deutsche/Dresdner merger. Another company with deep Nazi involvement, Allianz is involved with the restructuring inherent in the Deutsche/Dresdner deal and its involvement adds to the consummate financial power of this corporate entity. The Deutsche/Dresdner deal sets the stage for further American corporate acquisitions by the new Deutsche Bank (the name under which the merged banks will function).
The first half of the program concludes with discussion of the disturbing debt situation underlying the American economic boom. With banks hiding precarious financial exposure, the enormous consumer debt and corporate debt in the United States create a truly disturbing financial reality. (The S & P 500 shows a debt to equity ratio of 116% and the average American family is a year’s disposable income in debt.) The U.S. debt situation threatens a collapse and will certainly facilitate corporate acquisitions by German firms. In addition, the relative growth of the NASDAQ relative to the value of major Dow Jones blue chip companies threatens the technology-driven economic boom. These blue chip companies are among the biggest customers of high-tech products and their financial ill-health could, therefore, become contagious.
The second half of the program focuses largely on the ongoing struggle between the United States and Germany over the candidacy for the head of the International Monetary Fund. (For more on this subject, see FTR-195.) Having successfully opposed the nomination of Caio Koch-Weser, the U.S. must now consider yet another German candidate, Horst Kohler. The broadcast underscores the extreme, forceful and hyper-nationalistic effort by German Chancellor Gerhard Schroder to insure that a German will assume the role as IMF head. Despite the fact that a Polish candidate would appear to be the most qualified European to fill the position, Germany appears intent on maintaining its rigidity over the issue. Kohler’s family fled the advance of the Allies during World War II, a fact that raises more questions than it answers. (One of those questions concerns the possibility that Kohler might be connected to what Mr. Emory calls the “Underground Reich.” (See FTR-180 for more on this subject.) The IMF plays a pivotal role in world financial affairs and the Germans appear to be hoping that control of this institution will increase their influence.
Next, the broadcast sets forth the isolationist stance of the U.S. Republican-controlled Congress toward the IMF. Advocating a reckless and reduced role for the U.S. in the IMF at the same time that Germany is pushing for control of the fund, the Republicans are (consciously or otherwise) isolating the United States from the rest of the developed world.
The broadcast then touches on a scandal involving the Ukraine and Credit Suisse First Boston. (The two institutions comprising CFSB are implicated in the background of President Kennedy’s assassination, according to some sources. FTR-179 discusses the role of Swiss-based financial institutions in the above-mentioned Bormann organization.) The dominant political institution in the now independent Ukraine is the Rukh organization, which has a political heritage overlapping that of the Third Reich.
The possibility that these shenanigans could involve the Underground Reich is not to be readily discounted. The program concludes with discussion of growing friction between the EU and the United States.