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IPFS News Link • History

Erased History: How U.S. Bankers Finance Our Enemies


In 1971, Gary Allen published his book, None Dare Call it Conspiracy. It quickly became an unofficial best seller.

Over the years, several million copies have been sold.

Allen's thesis was stark: super-rich American capitalists were financing socialism. This bizarre paradox was resolved when socialism was properly understood—not as "power to the people"—but as elite power over the people. In other words, as a hoax.

These days, the socialist hoax is still unknown to most of the population.

Cloak a global power grab as progress for all of humanity.

Here, from chapter six of None Dare Call it Conspiracy, "The Rockefellers and the Reds," is a devastating passage commenting on the period just after the Russian Revolution of 1917:

"The Rockefellers assigned their public relations agent, Ivy Lee, to sell the American public the idea that the Bolsheviks were merely misunderstood idealists who were actually kind benefactors of mankind."

"Professor Antony Sutton of Stanford University's Hoover Institution, notes in his highly authoritative Western Technology and Soviet Economic Development:"

"'Quite predictably…[Ivy] Lee concludes that the communist problem is merely psychological. By this time he is talking about "Russians" (not Communists) and concludes "they are all right." He suggests the United States should not engage in propaganda; makes a plea for peaceful coexistence; and suggests the United States would find it sound policy to recognize the USSR and advance credits [give loans].' (Antony Sutton, Western Technology and Soviet Economic Development, 1917-1930, Hoover Institution on War, Revolution and Peace, Stanford University, Calif., 1968, p.292)"

"After the Bolshevik Revolution, Standard of New Jersey [Rockefeller] bought 50 per cent of the Nobel's huge Caucasus oil fields even though the property had theoretically been nationalized [by Russia]. (O'Connor, Harvey, The Empire Of Oil, Monthly Review Press, New York, 1955, p.270.)"

"In 1927, Standard Oil of New York [Rockefeller] built a refinery in Russia, thereby helping the Bolsheviks put their economy back on its feet. Professor Sutton states: 'This was the first United States investment in Russia since the Revolution.' (Ibid, Vol.1, p.38)"

"Shortly thereafter Standard Oil of New York and its subsidiary, Vacuum Oil Company [Rockefeller], concluded a deal to market Soviet oil in European countries and it was reported that a loan of $75,009,000 to the Bolsheviks was arranged. (National Republic, Sept.1927.)"

"…Wherever Standard Oil would go, Chase National Bank was sure to follow. (The Rockefeller's Chase Bank was later merged with the Warburg's Manhattan Bank to form the present Chase Manhattan Bank.) In order to rescue the Bolsheviks, who were supposedly an archenemy, the Chase National Bank was instrumental in establishing the American-Russian Chamber of Commerce in 1922. President of the Chamber was Reeve Schley, a vice-president of Chase National Bank. (Ibid, Vol.11, p.288) According to Professor Sutton: 'In 1925, negotiations between Chase and [Russian] Prombank extended beyond the finance of raw materials and mapped out a complete program for financing Soviet raw material exports to the U. S. and imports of U. S. cotton and machinery.' (Ibid, Vol.11, p.226) Sutton also reports that 'Chase National Bank and the Equitable Trust Company were leaders in the Soviet credit business.' (Ibid, p.277)"