The truth about Ivar Kreuger

At this tumultuous moment in time, we must now seriously recall our historical heritage, considering the times that will come, and how all this came to be. Many people today draw parallels to the events of 1929, and this of course has its point. But what precisely took place back then, might be unknown to most people.

The period after the first World War, known as “the second swedish era of great power”, was dominated by a Mr. Ivar Kreuger, a swedish entrepreneur that organized and conveyed credit flows independently of the banks, using these credits to build up the defence capabilities of the nations against the supranational Versaille system, which primarily tended to enrichen the Anglo-zionist bank conglomerate, that had succeeded to establish a privately controlled central bank system across most parts of Europe and USA.

The interwar Versailles system was in fact a system that never even in theory was intended to work.

Germany was down on its knees and was held solely responsible for the war. Germany would therefore pay all the war costs, including the British and French debts to the United States. Also, the bankers Rothschild and Rockefeller had a pledge from the British Foreign Secretary Balfour, about assistance for the creation of what was called a "Jewish" state on colonial territory - the conquered Palestine mandate. As regarding to who funded the aryanization processes (Rockefeller, Wallenberg and Rothschild), this could be seen as so distasteful that it is frankly intellectually offensive, but the limits of human greed are obviously very difficult to assess.

Britain and France were also practically bankrupt, except for the blood money they possibly managed to squeeze out of Germany.

Therefore the war debts could impossibly be paid, and this was obvious even before the ink had dried on the Treaty of Versailles.

But the financial policy makers in Europe at that time, in truth the stakeholders behind the former British and Dutch East Indian companies, now in the form of a bank controlled chemical and military industrial conglomerate called IG Farben, had already planned to implement a fascist solution for Europe. As the Nuremberg trials specifies in the matter, swedish involvement is certainly not lacking.

In 1922, Benito Mussolini was brought to power in Italy, with the help of the Venetian banker Volpi di Misurata, who later became Mussolini's foreign minister. This happened at the same time as they began to prepare for a coup in Germany, now known as the "beer hall putsch" (September 11, 1923), that for some unknown reason is celebrated every year even today, puzzling because it's hardly the failure that can be celebrated with reference to what would later happen. The parallelism with the current geopolitical events must be said to be truly remarkable.

The Spanish Civil War was the same soup cooked by the same chefs, with the same purpose.

The plan of Ivar Kreuger during the interwar period was to give a loan to Germany, 125 million dollars, which would be the largest government loan ever, and it was published in October 1929. The idea of this loan was partly to resolve the crisis around the war reparation debts, in such a way that you could both avoid a new war and new large investments in the IG Farben war material production, which was the desired option of the fascists.

Consequently, the main obstacle for the bankers expansion to our present financial system was called Ivar Kreuger, and this of course meant that the plans of Ivar Kreuger was strongly opposed by the financial interests advocating the Hitler dictatorship in Germany, primarily represented by the governor of the Bank of England, Montagu (Collet - Ring) Norman, the banking interests behind the Federal Reserve, and the president of the Reichsbank Hjalmar Schacht.

All with major and critical stakes in IG Farben.

When those interest groups realized that they were losing control of Germany to Ivar Kreuger through his peace loans, they proceeded to work. They decided that all loans must be discontinued.

This was accomplished through a massive devaluation of the US stock market, a devaluation triggered when the US and European financial circles withdrew huge amounts of liquidity from the US equity market, accompanied by an increase of interest rates.

The result was the great stock market crash of October 29, 1929.

On that date, Ivar Kreuger had planned a big equity issuance, to acquire the remaining capital of the loan to Germany. Kreuger papers dropped in value, but only by half in comparison to other stocks. Therefore, despite the crash, Kreuger could get the money he needed for the German loan.

The confidence in Kreuger had thereby been strengthened.

But the battle over who would rule the international credit market was intensified as a result. Montagu Norman Ring had already for some time sought to strengthen the central bank’s control over the world economy. In The Hague 1930, a plan was presented for how this would take place.

A new bank would be formed, the Bank for International Settlements, with the apparent purpose to even out the differences in the balance of payments between the various central banks - but in reality to regulate the banks in a way that furthered the interests of IG Farben. With the British acting as directors of both the German, the US and the British central banks, through the admirable Montagu Norman Ring, they were confident that the BIS would also be controlled by him.

At the Hague Conference in 1930 it was decided that the BIS would be set up, but it was no minor setback for England that the presidency of the bank instead went to France, meaning that the bank could not be used in the manner Montagu Norman Ring had intended. The French Prime Minister Aristide Briand was allied with Ivar Kreuger, and also a strong opponent against fascism and economic dictatorship.

The French alliance by Prime Minister Aristide Briand with Kreuger at the Hague Conference, also resulted in something that Norman Ring had a very hard time reconciling with.

In the early 1930’s, when Kreuger would make his first disbursement on the German loan, France paid back in advance on its 1927 loan from Kreuger, which gave Kreuger room for maneuvering and the freedom of action he needed after the stock market crash of 1929.

With these setbacks - the large Germany loan and the French/Kreuger-influence in BIS - the ability of Hjalmar Schacht's to continue to "operate within the system unnoticed" became very limited. He therefore resigned as governor of the German central bank, and began instead to immediately agitate in international financial circuits that Hitler should rise to power in Germany.

To be convinced that this was the case, one need only to look at what Hjalmar Schacht did immediately after his resignation.

In the fall 1930, Germany was once again in need of a loan to stabilize its economy. The German government began negotiations with Kreuger's bank in the United States, “Lee, Higginson & Co.”, about the disbursement of the remaining part of the German loan. Negotiations began on October 1:st. On October 2:nd, 1930, Hjalmar Schacht arrives in New York.

The purpose of his visit to New York was on behalf of the IG Farben interest groups, making sure that Germany under no circumstances would be granted additional credits. Schacht therefore stayed eight whole weeks in the United States, giving 40 lectures, starting as a guest lecturer at the Council on Foreign Relations (CFR). The theme of these lectures was that Germany would not be able to repay their loans, but was only preparing a debt moratorium.

Schacht also had a direct meeting with Donald Durant, director of Lee, Higginson & Co., assuring him that they would never get their money back if they lent them to Germany.

At that time, the German government saw itself forced to intervene against Schacht, sending out a message that the government publicly took distance from Schacht and all of the described plans of a moratorium.

Despite Schacht's massive organization to prevent additional loans to Germany, Kreuger paid out, through Lee, Higginson & Co., the remaining part of the loan to Germany, and prevented for the second time Hjalmar Schacht and Montagu Norman's plans for a monetary dictatorship.

Kreuger and his American and French banking allies showed in this way that they were determined to continue lending to Germany. In this way, Hitler, and of course, the Second World War, definitely could have been prevented! Which of course was the opposite interest of IG Farben, where the Wallenberg sphere owned large numbers of shares in the parent company. (Swedish Government Official Reports 1999:20, page 194)

The battle for Germany wasn’t really settled until 1933, when Hitler was installed as chancellor and made Schacht his financial minister.

Actually, right up to March 7 1932, when Aristide Briand died under mysterious circumstances, and even on the date of his funeral, March 12 1932, when Ivar Kreuger also died, Kreuger and his allies definitely stood in the way of any such development. It can be mentioned as trivia that on March 13, the day after the death of Kreuger, an election that altered history took place in Germany.

In his book "Es geschah in Deutschland", the former german government official Count Lutz Schwerin von Krosigk, wrote as follows:

“In spring 1931, the Swiss banker Felix Somary, who was strongly linked to the Swiss Bank Corporation, and had made a name for himself as a national economy theorist, visited the financial ministry in Berlin.

On the question of how long the current global crisis would continue, he answered that three events must occur before a recovery could be considered: The banking system in Vienna and Berlin must be cleaned up through a crisis (in other words, a reform beneficial for IG Farben. The name of the Chairman of the Committee of this German banking system reform was Wallenberg). Also, the British pound has to separate from the gold standard (so the debt and currency expansion wouldn’t be slowed by the availability of gold) and the matchstick monopoly of Ivar Kreuger must collapse.”

Early in the summer of 1931, the banks crashed and late that summer the pound was devalued - the Anglo-zionist banking hegemony directed all of this by themselves. When Felix Somary later came to Berlin, once again in the early spring, right between February and March 1932, he was asked if it really was necessary to wait for the third event.

On this occasion Felix Somary held nothing back at all, but instead frankly assured that the Kreuger corporate group within a very short period of time would end.

How could the Swiss banker Felix Somary possibly know that it would soon be over with Ivar Kreuger, who was apparently supported by the French Prime Minister and up until 1929, by the German foreign minister Gustav Stresemann?

And perhaps even more important: How could an accounting firm based in Paris, Price Waterhouse, be assigned to go through the accounting of the Kreuger group, without knowing a word of swedish, and only a few days later proclaim the worldwide corporate Kreuger group bankrupt?

How could the lawyer Hugo Stenbeck and Jacob Wallenberg be allowed to nominate themselves as part of a Royal Commission, which really wasn’t royal at all, only a false declaration in order to impress the French authorities, for investigating the Kreuger group’s position? All of this when the Wallenbergs and their representative were allied and partnered with those who strongly opposed Kreuger? (Swedish Government Official Reports 1999:20)

Why were all of Kreuger's close associates either disgraced, ruined or imprisoned, or even all of them at once?

Such things rarely happen without some intention behind it.

History is shaped by people who transform ideas into practice. Ivar Kreuger miscalculated how far his economic opponents were prepared to go to effectuate their plans.

The Hitler dictatorship and the Second World War was the price that Europe was forced to pay for the privately owned banks to continue their theater of democratic independence, for the bank controlled central banks to be established, and through this their maintained power over the world through deception.

Written by Carl Norberg