America's Road to Wealth

"For a long time, many of you have said that I am a ferocious and bloodthirsty hungry wolf. Leading a group of hungry wolves who are also young and ignorant, hunting and destroying unscrupulously everywhere, saying that I am the most cold-blooded wolf in the financial market. Predator."

"...Hehe, since everyone evaluates me that way, then I will do as you wish. This time, I wonder if everyone is interested in my proposal?"

"George Cartlett Marshall's plan has helped Europeans regenerate, 50 years ago. Now it's our turn to help old Europe move towards a better future again!"

Washington, in a building whose location is not depicted on various public maps.

More than 150 bankers from all over the United States gathered together like their elders 90 years ago to "exhaustibly think" for the better development of the Federal Reserve Banking System.

This central bank of the United States has to be said to be very cleverly designed.

On the surface, all its powers are controlled by seven members, one chief and one second, and the remaining five are committee members.

If seven members want to take office, they must be nominated by the commander in chief and approved by the Senate before they can take office. The chief and second seats can be re-elected, but the members cannot.

In the beginning, its ostensible model was that Congress controlled the Federal Reserve, the government had representatives on the board, but the majority of the board was controlled directly or indirectly by the Banking Association.

This model may be fine now, but it was not very suitable at the beginning of the last century.

Due to the reasons of the Bank of England, the central bank of Britain at that time, and the US banking crisis in 1907.

Bankers at that time had such a bad image in the minds of Americans that no one, from members of Congress to the White House, dared to publicly support any bills that bankers participated in formulating.

Later, one of the founders, Paul, cleverly changed the final version to - "The members of the board of directors are appointed by the President of the United States and approved by Congress.".

From this point of view, this existence that performs the functions of the US central bank has become an official organization that obeys the orders of the US leader, rather than a private bank.

The truth, however, is that the real function of the Fed's board of directors is performed by an organization called the Federal Advisory Council.

The Federal Advisory Committee and the Board of Directors meet regularly to "discuss" their work, which is now the Fed's regular meeting four times a year.

Members of the Federal Advisory Committee will be determined by the directors of the 12 Federal Reserve Banks.

This last and most important point has been deliberately concealed from the public.

Facts have proved that this approach is very successful, and a large number of Americans still believe that it is a state tool.

In the conference room, the person who spoke just now is the real board of directors of the Federal Reserve, an important member of the Federal Advisory Committee, and Mr. Abel Smith, chairman of the Dallas Federal Reserve Bank of the Eleventh Federal Reserve Branch.

The chairmen of the other 11 Federal Reserve Banks present, as well as other members of the Federal Advisory Committee, have a document in front of them at the moment.

While Abe was speaking, many people were flipping through the document prepared for them by the chairman of the Dallas Fed.

First Federal Reserve District, Boston Federal Reserve Chairman Joson Adams glanced at the documents briefly, and couldn't help but look at the high-spirited Abel on the stage, and then whispered to David Rockefeller beside him:

"He dares to think, but it's very tempting. Those Europeans, they have really gotten carried away in recent years."

David nodded, and replied to Joson Adams: "He went to find me in person last night. I was shocked when I heard it, but I think... there will be no problem if you give it a try."

Adams was a little surprised by Rockefeller's words and reaction.

It was rumored that Rockefeller and Morgan had a tense relationship with Smith, but it now appears that this is not the case.

The patriarch of the Adams family couldn't help but glance at John Chris on the other side of David.

As a descendant of Henry Adams more than 300 years later, the patriarch of the Adams family has produced such fierce men as Samuel Adams, John Adams and Quincy Adams.

Joson Adams also understood that many times the internal relationship between their families was so intricate.

The relationship between the Boston consortium led by the Adams family and the Morgan consortium led by Morgan has always been very poor, and they once fought fiercely.

But at the same time, the Boston Consortium has a good relationship with the Rockefeller Consortium, an ally of the Morgan Consortium.

The commander who has been brainstorming for many years was promoted by their Boston consortium and Rockefeller consortium.

The degree of confusion in their relationship in this circle is much more complicated than the fact that Abel and Kayla's children have to recognize their uncle John Wilson as their father.

So the newly-emerged Smith, Morgan, and Rockefeller fought non-stop, but often joined forces, and everyone was not surprised.

Because this is almost the norm among the top conglomerates and upper-class families in the United States.

Fighting for interests, making peace for interests, turning against each other for interests, and being intimate again for interests.

Restraining his random thoughts in this regard, Joson Adams calmed down and listened to Abe Smith on the stage continuing to sell his ideas to them.

"A lot of preparatory work, everyone has been doing it tacitly."

"From the current point of view, the work in this area has achieved good results. But if we want to really gain something, I think it will take at least ten years, and it will take 10 years at the fastest."

"And once I use this method, I think this time can be greatly shortened."

"Eight years, no, maybe even five years. We can get Europeans into our order!"

Having said that, Joson Adams saw that Abel stopped his words, and his young and sharp eyes scanned everyone: "This is what I want to say today, if you have any ideas or suggestions, you can come out and say it, if you don't If so, I suggest that a vote be launched now."

Qiao Sen hesitated, he didn't know whether he should support it or not.

Don't support it, what Abel Smith is going to do this time does seem to be good for everyone.

If it works, it will be exactly as he said.

Support it, it seems that this will strengthen his voice in the Federal Advisory Committee.

Adams and the Boston Consortium, like everyone else, did not want to see this scene.

Balance is what counts in the Federal Advisory Committee.

When Qiao Sen hesitated and was about to speak, out of the corner of his eye, he suddenly spotted David Rockefeller next to him, and nodded slightly to a banker sitting opposite Rockefeller.

Johnson looked over and found that it was the Seventh Federal Reserve District, Matteo McCormick, chairman of the Federal Reserve Bank of Chicago.

Matteo McCormick was a key member of the Chicago Consortium, which was once as illustrious as the name Chicago once was in America.

Up to now, the financial strength of the Chicago consortium is relatively strong. It still owns five major banks, namely Continental Illinois Corporation, First Chicago Corporation, Harris Bank Corporation, Northern Trust Corporation and Bank of America Corporation.

In addition, it has two insurance companies, Cena (CNA) Financial Corporation and State Insurance Company.

Historically, Chicago was once one of the financial centers of the United States, and its status is not lost to New York.

In the nearly hundred years of invisible battles, in recent years, Chicago, represented by the Chicago consortium, has been continuously squeezed out and invaded by the big Wall Street consortia, and its financial strength is far worse than before.

Now the Continental Illinois Company has been infiltrated by the Morgan Consortium and has become a company jointly controlled by the two consortiums; the First Chicago Company is also controlled by the Rockefeller Consortium, and the Chicago Consortium is actually subordinate to these two consortiums.

It is similar to the situation of the Cleveland consortium and the DuPont consortium today.

So Joseon Adams saw that Matteo McCormick immediately raised his hand and said loudly:

"Mr. Smith, your proposal is very good. But I believe that the Europeans are not stupid, they will be wary. Besides, if it is to be implemented, who will be responsible for the plan? Can't let the Fed do it directly?"

Mateo McCormick is a subordinate of the Morgan and Rockefeller consortiums. Joson Adams can know it, but it is impossible for Abel not to know it.

After hearing Matteo McCormick's question, Abel immediately smiled and said:

"Very good question, as to who should be in charge - I propose that Mr. McCormick be in charge. The Chicago Consortium has great strength, and I think they are fully qualified for the job!"

He was talking about letting Matteo McCormick take charge of the job, but Abel's tone was full of irony that couldn't be erased, which sounded very obvious.

This made Matteo McCormick very angry, but he didn't dare to take Abel's words directly, saying that he would come by himself.

Today's Chicago consortium, Matteo McCormick, clearly does not have the ability to lead the charge.

What's more, in the current Chicago consortium, McCormick's words don't count, and the other two founder families, Wood and Crown, don't count.

The ones who really have the final say are Morgan and Rockefeller...

If it weren't for Morgan and Rockefeller, who still wanted to cover it with a last layer of film, and he, Matteo McCormick, was more obedient.

Then the current chairman of the Federal Reserve Bank of Chicago may not be any member of McCormick, Wood, and Crown.

Gritting his teeth, Matteo McCormick said directly: "I admit that I don't have this kind of strength. But Mr. Smith, your subtext is that you must take the lead in this matter, right?"

Seeing Matteo McCormick's "retreat to advance", other bankers also realized a problem.

That is, if everyone really agrees with Abel Smith's proposal, it seems that only Smith, Morgan and Rockefeller can do this work.

Morgan and Rockefeller were able to take the lead because they were the strongest overlords in finance among the large American conglomerates and the most influential chaebols in the world.

And Abe Smith is considered by many to also take the lead, except because he made the suggestion.

It is also because the impression that this guy has been invincible and indestructible in the financial field has been too strong for everyone.

Even in the international arena, the current Smith Group is still far behind Rockefeller and Morgan.

Everyone still felt that Abel could also be qualified for this task.

"Why not?"

Why not?

Abel stated his attitude directly: "I think I am indeed competent, Mr. McCormick, do you have any questions?"

The corner of McCormick's mouth twitched cowardly, and he wanted to refute but found that this was the case.

One of the core figures of the Chicago consortium feels that he must be ashamed now.

I feel that if my ancestor Cyrus McCormick saw himself like this, he would want to harvest himself with the harvester he invented.

But what about him, Matteo McCormick?

Back then, Cyrus McCormick was able to influence the situation and direction of the American Civil War, and was already the richest man in the United States when he died.

At that time, McCormick was the real first family in the United States.

And at that time Adams and the like were already weakened, and Morgan hadn't even come over from England. Rockefeller just started to eat and sleep, looking for oil everywhere in the United States, and the sum of all his properties did not exceed US$500.

Now, now he, Matteo McCormick, can't even control the company that Cyrus left behind, and can only be someone else's puppet!

He took a deep breath, although he was very unwilling, but Matteo McCormick knew that he really couldn't refute.

He glanced at Rockefeller on the opposite side, sat down silently, and chose to remain silent, also to show Morgan and Rockefeller that he had done his best.

On stage, after Matteo McCormick took his seat, Joson Adams saw Abel begin to be energetic and aggressive again. It is very similar to the appearance of those American businessmen who started to open up from the United States after the end of the Gilded Age.

At the same time, the "wonderful scene" of the interaction between Rockefeller and Matteo McCormick just now was also deeply engraved in Adams' mind.

He couldn't help but glanced at Pierre Eugene Dupont who was not far away, who was in a very relaxed state.

Suddenly, after Abel's voice fell, Joson Adams raised his hand: "I think your suggestion, Mr. Smith, is very good, and you are indeed capable of this job. I think it's time to initiate a vote, and I choose to support it This proposal, and support for Mr Smith to take charge of this work."

Joson Adams' sudden movement obviously surprised David Rockefeller next to him, and John Chris next to David even sat up straight angrily.

The rest of the bankers also looked at Joson Adams with curious or surprised or strange or unclear eyes.

Having attracted so many eyes, he shrugged comfortably, as if he didn't care about their reactions at all.

Johnson couldn't help but glanced at Matteo McCormick across the way.

I thought you McCormick would become a puppet, but I Adams would not!

And Cyrus McCormick is nothing compared to Samuel Adams and John Adams!

"Haha~"

On stage, Abel laughed outright.

"Thank you very much Mr. Adams for your trust, and I think so myself. I also think that a vote can be initiated, and I will vote for myself."

As soon as his words fell, his uncle John Wilson raised his hand directly: "Wilson, director of the San Francisco Reserve Bank, voted for Mr. Smith."

As soon as John finished his action, several other members of the California consortium beside him also raised their hands, but not all raised their hands, only about 60%.

This is probably the part of the directors that the Wilson family can influence in the California consortium.

The people from the Texas consortium, similar to John, immediately raised their hands.

Then Pierre Eugene Dupont voted for it.

One after another, several people from the Boston Consortium also looked at Qiao Sen hesitantly, and then raised their hands to vote in favor.

within minutes.

Matteo McCormick was somewhat envious of the discovery.

Among the more than 150 official members of the Federal Advisory Committee present, at least more than 60 people have raised their hands in agreement.

It turns out that Smith is already here, and has almost the same voice as Rockefeller and Morgan!

Matteo McCormick was surprised and envious.

3 million words, be proud. In addition, when writing this chapter, I checked a lot of materials about the vacation era and the Civil War, and I feel that the stories of those Americans are super tense, and they are very suitable for writing novels. That is, if you want to go out of the United States, you can't write it at all, because it is easy to 404.