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The Real Story of AIG

The Real Story of AIG

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Published by Redza
Some may be surprised to learn that AIG is a subsidiary of American International Corporation (AIC) and the parent has a most interesting history
by Vincent G. Gioia - http://vincentgioiasblog.blogspot.com/
Some may be surprised to learn that AIG is a subsidiary of American International Corporation (AIC) and the parent has a most interesting history
by Vincent G. Gioia - http://vincentgioiasblog.blogspot.com/

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Published by: Redza on Apr 10, 2009
Copyright:Attribution Non-commercial


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Friday, April 3, 2009
 by Vincent G. Gioia
AIG has been in the news a lot these days. At the beginning of the AIG saga the Fed said it was too big to allow it to fail and so billions were given to “save” the company. Of course this failed andstill more money was thrown their way. When it was “discovered” that AIG had contractualobligations to give serious bonuses to key employees, congress was irate. Even after it becameknown that a Democrat, Senator Chris Dodd, inserted a provision in the Stimulus bill to protectthese bonuses at the request of the Treasury Department, the jackals that passed, but didn’t read,the bill were still furious.With all the attention given to AIG I think it is interesting to learn a little more about the company.First of all, some may be surprised to learn that AIG is a subsidiary of American InternationalCorporation (AIC) and the parent has a most interesting history. AIC has succeeded in remaininginvisible and does that by relying on secrecy because that’s how its founders liked it. John D.Rockefeller, Sr., of Robber Baron fame, started the company in 1910. Other Barons of industry joined John D.; Andrew Mellon, J.P. Morgan, and Andrew Carnegie. Other American industrialistsand bankers also joined the AIC venture. The reason such an illustrious group of giants cametogether was that knew the financial clout they could exert together would bring them even morewealth, but more importantly, power; at a time when there were few government restrictionsinterfering with business.Rockefeller, the oil man, knew that Russia would become of major importance because of thediscovery of oil in Baku near the Caspian Sea in Azerbaijan. The oil field was the largest knownoil strike in the world at the time. However, the Baku oil field was controlled entirely by the Swissmunitions manufacturers Alfred and Robert Nobel and Tsar Nicholas II's banker, Baron AlphonseRothschild, who had gotten there earlier. As early as 1884 Rothschild and Nobel were pumping asmuch oil from the Baku Oil Fields as Rockefeller was from all of his holdings in the United Statesand Rockefeller wanted to get in on the action. By 1870 Rockefeller’s Standard Oil controlled 85%of the refining and distribution of oil in the entire world but by 1880 he lost most of his distributionrights in Europe to Rothschild.In order to succeed in Russia Rockefeller realized the Tsar had to go.Rockefeller, Morgan, Mellon and their banker friends were already well on their way to creating acentral federal bank owned by them and getting the US to enact a national income tax to repaywhat the United States would soon owe to that privately-owned central bank. Taking over Russianoil was something else.The Rockefeller group of business giants met in New York with Bolshevik Leon Trotsky between1907 and 1910. Rockefeller, his banker friends, Mellon and Morgan, and steel man AndrewCarnegie, along with others of equal rank in the business world pooled their resources and put up$50 million to form the American International Corporation, AIC, which they announced wascreated to stimulate world trade. However the real purpose was to get the Bolsheviks to overthrow
Tsar Nicholas II. They made a deal with Trotsky and his partner in crime Vladimir Ulyanov, whomthe world would get to know as Lenin. In exchange for financing the Bolshevik RevolutionRockefeller and his robber Baron friends would be allowed to take over the Russian oil fields. Butwhat actually happened is that Trotsky and Lenin double crossed AIC after they helped topple theTsar.It is an unfortunate reality that but for the interference of the Robber Barons the 1917 Bolshevik Revolution would not have succeeded. With the help of Rockefeller and his equally greedy merrymen the Tsar was overthrown. To cement their power the Bolsheviks shot and killed the Tsar andhis family enabling the well-financed Bolsheviks to depose the Romanov dynasty.After this bit of history it may be asked who, or what, exactly, is American InternationalCorporation? Jon Christian Ryter has written:“AIC is one of the two largest corporations ever formed. The other is Standard Oil, which was broken apart by US District Court Judge Kenesaw Mountain Landis on August 3, 1907. At 4 p.m.on May 15, 1911, the US Supreme Court upheld the Landis judgment, and what was one behemothoil giant became seven behemoth oil giants—with the Rockefeller family as the primaryshareholders in all of them (otherwise known as 'the seven sisters'). The government wouldultimately learn from its Standard Oil mistake because when the Reagan-era Supreme Court brokeup Ma Bell, AT&T was forced to sell-off the breakaway companies.”AIC personnel comprised executives brought into the company who were trusted associates fromeach partner's own commercial ventures. Rockefeller, Mellon, Morgan and Carnegie mastermindedthe creation of AIC and built the corporation similar to Standard Oil with secrecy layers that madeit very difficult to be scrutinized.Among those brought into AIC was Frank Vanderlip from Rockefeller's National City Bank, one of the seven people who would not only help write the Federal Reserve Act legislation, but he wouldalso be instrumental in getting congress to enact the 16th Amendment* by promising them fameand fortune, or threatening them with failure if they didn’t go along. Vanderlip was on the board oAIC along with such luminaries who served at various points of time throughout AIC's century-oldlife, like Thomas Vail, CEO of AT&T, Percy Rockefeller (one of John D.’s brothers), James A.Stillman (a Rockefeller in-law), Pierre DuPont, and George H. Walker, maternal grandfather of George H.W. Bush.At one point Robert S. Lovett joined the board and became a key advisor to President John F.Kennedy. Lovett advocated ignoring the 2nd Amendment and disarming the American people asthe first step in creating global government.“Other founding directors included manufacturer Cyrus McCormick; railroad executive James J.Hill; Edwin S. Webster (Stone's partner); investment banker Otto Kahn, meat-packer OgdenArmour; Assistant Secretary of the Treasury for Taft, Beekman Winthrop; Henry Smith Pritchett, president of the Carnegie Corporation; and Joseph P. Grace, then a Standard Oil chemist. Hedeveloped petrochemical products from crude oil. Also, banker Charles H. Sabin; W.E. Corey,head of US Steel; James Cash Penney, founder of J.C. Penney; and Charles A. Coffin, whoreplaced Thomas Edison as CEO of General Electric.” (Jon Christian Ryter)“In 1918, Forbes published his first list of the 30 richest America. Heading the list were the

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