This book, "Wall Street and the Rise of Hitler", argues that American businesses and financiers had a significant role in the rise of the Nazi party in Germany.
Sutton, the author, claims that wealthy individuals and corporations on Wall Street provided financial and technical assistance to the Nazi regime, even though they knew about the Nazi party's intentions and the probable outcome would be a war involving the U.S.
The author focuses on specific industries and figures in his argument. The Dawes and Young Plans, which were intended to help Germany recover after World War I, are cited as evidence. Sutton claims that these plans, orchestrated by Wall Street, ultimately benefited them financially and simultaneously helped to establish powerful German cartels. These cartels, in turn, became integral to Hitler's rise to power.
Sutton highlights the role of prominent American figures like Owen Young, of General Electric, and Hjalmar Schacht, a German politician, in the formulation and execution of these financial plans.
He draws a direct link between these individuals' involvement in the plans and their subsequent involvement with the Nazi regime.
The author dedicates a chapter to I.G. Farben, a German chemical conglomerate, illustrating how American businesses aided the Nazi party.
He points to the involvement of influential figures like Walter Teagle (Standard Oil), Paul Warburg (Bank of Manhattan), and Edsel Ford, who were directors of American I.G. Farben. Their presence, Sutton argues, underscores the depth of Wall Street's complicity in Hitler’s rise.
Sutton provides a detailed account of the cartel’s operations, revealing how it received significant financial support from Wall Street, ultimately enabling it to become a crucial component of the Nazi war machine.
The author further claims that Standard Oil of New Jersey, a company controlled by the Rockefeller interests, provided technical assistance to the Nazi regime, particularly in developing synthetic gasoline.
He alleges that the company, despite knowing the Nazi regime's true intentions, continued to provide support, including financial contributions to Heinrich Himmler's S.S. Circle of Friends.
Sutton also examines the role of the Ethyl Gasoline Company, jointly owned by Standard Oil of New Jersey and General Motors, in supplying Nazi Germany with ethyl lead.
Despite receiving warnings from the U.S. War Department, Sutton claims that the company continued to provide this vital resource, fully aware that it would be used for military purposes by the Nazi regime.
The book concludes by discussing the idea of a powerful elite operating behind the scenes of the U.S. government.
Sutton cites Carroll Quigley, a Georgetown University Professor of International Relations, to support this argument.
While Sutton acknowledges that Quigley does not completely align with his perspective, he utilizes Quigley's work to underscore the existence and influence of a powerful elite operating within the U.S. government.
Sutton alleges that this group, driven by self-interest, manipulates global events, including the rise of dictators like Hitler, to further their agendas.
The Myth of "Sidney Warburg"
The author also addresses the "myth of 'Sidney Warburg,'" a purportedly fabricated story about Wall Street financiers funding Hitler.
He reviews a suppressed book claiming that powerful American families, including the Rockefellers and Warburgs, directly funded Hitler's rise to power.
Sutton, however, acknowledges that "Sidney Warburg" was likely a pseudonym and that the book might be a work of fiction.
Nevertheless, he finds it notable that numerous facts presented in the "Sidney Warburg" book closely resemble evidence he presents in his book.
He questions the motives behind James Paul Warburg's attempt to refute the content of a book he claimed to have never read.
Ultimately, Sutton believes that the "Sidney Warburg" story, despite its likely fabrication, cannot be disregarded.
Overall Argument and Conclusion
Sutton uses "Wall Street and the Rise of Hitler" to argue that American corporations and financiers were not unwitting bystanders in the Nazi party's rise to power. He asserts that they knowingly and willingly provided support, driven by financial self-interest, even when it became apparent that their actions would have devastating global consequences. The book serves as an indictment of the morality and judgment of these individuals and the system they represent. It warns readers to be wary of the influence of powerful elites and their potential to manipulate global events for their benefit.
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