Chapter 612

"Many of you have always said that I am a cruel and bloodthirsty wolf. With a group of similarly young and ignorant wolves, I hunt and destroy unscrupulously everywhere. You say that I am the most cold-blooded person in the financial market. Predator."

"...Haha, since everyone thinks so of me, then I will do as you wish. This time, I wonder if everyone is interested in my proposal?"

"It has been 50 years since George Catlett Marshall's plan helped Europeans revive. Now it is our turn to once again help old Europe move towards a better future!"

Washington, in a building whose location is not depicted on any public map.

More than 150 bankers from all over the United States gathered together just like their elders 90 years ago to "work their best" for the better development of the U.S. 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 power is controlled by seven members, one of whom is the chief, one of the second-in-command, and the remaining five are committee members.

If the 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 chairs can be re-elected, but committee members cannot.

When it started, its ostensible model was that Congress controlled the Fed, with the government represented on the board of directors, but a majority of the board members controlled directly or indirectly by the association of banks.

This model may be fine now, but it wasn't very appropriate at the beginning of the last century.

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

At that time, the image of bankers in the minds of Americans was so bad that no one from members of Congress to the White House dared to publicly support any legislation that bankers participated in the formulation of.

Later, Paul, one of the founders, cleverly changed the final version to - "Members of the Board of Directors are appointed by the President of the United States and approved by Congress."

It seems that this entity that performs the functions of the central bank of the United States has become an official organization, taking orders from the commander-in-chief of the United States, rather than a private bank.

However, the fact is that the real function of the Federal Reserve Board of Directors is exercised by an organization called the Federal Advisory Committee.

The Federal Advisory Committee and the Board of Directors meet regularly to "discuss" work, which is now the Federal Reserve's four regular meetings each year.

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

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

This approach has proven to be very successful, and a large number of Americans still believe that it is a national weapon.

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

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

While Abel was speaking, many people were flipping through the document prepared for them by the chairman of the Federal Reserve Bank of Dallas.

First Federal Reserve District, after roughly reading the documents, Chairman of the Boston Federal Reserve Bank, Jonson Adams, couldn't help but glance at the high-spirited Abel on the stage, and then whispered to David Rockefeller next to him:

"He really dares to think about it, but it is indeed very tempting. Those Europeans, they have really got a little carried away in recent years."

David nodded and replied to Jonson Adams: "Last night he came to see me in person. I was shocked when I heard it, but I think... there won't be any problem if you give it a try."

Rockefeller's words and reaction surprised Adams.

There were rumors that Rockefeller and Morgan had a tense relationship with Smith, but now it seems that this is not entirely true.

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

As a descendant of Henry Adams more than three hundred years later, his ancestors produced powerful Adams family patriarchs such as Samuel Adams, John Adams and Quincy Adams.

Jonson Adams also understands that many times the internal relationships between these families are so complicated.

For example, the Boston Consortium led by the Adams family and the Morgan Consortium led by Morgan have always had a very bad relationship, and they were once at loggerheads.

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

The commander-in-chief who has been thinking big for many years was pushed to the position by the Boston Consortium and the Rockefeller Consortium.

The relationship chaos in their circle is much more complicated than when Abel and Kayla's children have to recognize their uncle John Wilson as their father.

Therefore, it is not surprising that the newly rising Smiths fight constantly with Morgan and Rockefeller, but often join forces.

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

Fight for interests, make peace for interests, turn against each other for interests, and become intimate again for interests.

After restraining his wild thoughts in this regard, Jonson Adams calmed down and listened to Abe Smith on the stage continuing to sell his ideas to them.

"A lot of the preliminary preparation work has been done tacitly by everyone."

"From the current point of view, the results of this work are very good. But if we want to really gain results, 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, it may even take only 5 years. We can let the Europeans join our order!"

At this point, Jolson Adams saw Abel stop speaking, 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 forward and say it. If not, If so, then I suggest launching a vote now."

Qiao Sen was hesitant. He didn't know whether he should support it or not.

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

If it succeeds, it will be exactly what he said.

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

Adams and the Boston Consortium did not want to see this scene as much as anyone else.

Balance is what matters on the Federal Advisory Committee.

When Johnson was hesitant and about to speak, from the corner of his eye, he suddenly spotted David Rockefeller next to him, nodding slightly to a banker sitting opposite Rockefeller.

Jolson looked over and saw that it was Mateo McCormick, chairman of the Seventh Federal Reserve District, the Federal Reserve Bank of Chicago.

Matteo McCormick was an important member of the Chicago Consortium, which was once as important as the name Chicago was in the United States.

Up to now, the financial strength of the Chicago consortium is still relatively strong, and it still owns five major banks, namely, Luxury & Reynolds Company, First Chicago Company, Harris Bank Company, Northern Trust Company and Bank of America Company.

In addition, it has two insurance companies, Cina (A) Financial Corporation and States Insurance Company.

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

In the invisible battle that has lasted for nearly a century, Chicago, represented by the Chicago Consortium, has been continuously squeezed and invaded by Wall Street conglomerates in recent years, and its financial strength is far worse than before.

Nowadays, the Luoyin and Lenoir Company has been infiltrated by the Morgan Consortium and has become a company jointly controlled by the two consortiums; the First Chicago Company is controlled by the Rockefeller Consortium, and the Chicago Consortium is actually subordinate to these two large consortiums.

The situation is similar to that of the Cleveland Consortium and the DuPont Consortium today.

So Jon Adams saw that Mateo McCormick immediately raised his hand and said loudly:

"Mr. Smith, your proposal is very good. But I believe that the Europeans are not fools. They will be wary. In addition, if it is to be implemented, who will be responsible for the plan? You can't let the Federal Reserve do it directly, right?"

Matteo McCormick is an affiliate of the two major consortiums, Morgan and Rockefeller. Jolson Adams can know it, and it is certainly impossible for Abel not to know it.

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

"It's a good question about who should be in charge - I would like to suggest that Mr. McCormick should be in charge. The Chicago Consortium has strong capabilities, and I think they are fully qualified for this job!"

He was talking about letting Mateo McCormick take charge of this job, but there was a sarcasm in Abel's tone that couldn't be erased, and it sounded very obvious.

This made Mateo McCormick very angry, but he did not dare to directly accept Abel's words and said that he would do it himself.

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

What's more, for the current Chicago consortium, McCormick's words don't count, and the other two founding 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 up with the last layer of film, and he, Matteo McCormick, was also more obedient.

Then the current chairman of the Chicago Federal Reserve Bank will probably not be any of McCormick, Wood, or Crown.

Gritting his teeth, Mateo McCormick said directly: "I admit that I do not have this 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 realized a problem at the same time.

That is, if everyone really agrees with Abel Smith's proposal, it seems that only three families, Smith, Morgan and Rockefeller, can take the lead in this work.

Morgan and Rockefeller can take the lead because they are originally the strongest financial hegemons among the large American conglomerates and the most influential plutocrats in the world.

Abel Smith is considered by many to be able to take the lead, except because he made the suggestion.

It's also because this guy's invincibility and immortality in the financial field have always left such a strong impression on everyone.

So even internationally, the current Smith Consortium is still far behind Rockefeller and Morgan.

But everyone still felt that if Abel came, he would be qualified for this task.

"Why not?"

Why not?

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

McCormick's mouth turned cowardly, and he wanted to speak out to refute but found that this was the fact.

One of the core figures of the Chicago syndicate feels that he must be embarrassed now.

He felt that if his ancestor Cyrus McCormick saw him like this, he would definitely want to harvest him with the harvester he invented.

But what about him, Matteo McCormick?

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

At that time, the McCormicks were the true First Family of America.

At that time, Adams and others were already weak, and Morgan had not even come from England. Rockefeller had just begun to sleep in the open, searching for oil everywhere in the United States. The total of all his assets did not exceed US$500.

Now, now that he, Matteo McCormick, can't even control the company that Sellers left behind, he can only be a puppet for others!

Taking a deep breath, although he was reluctant, Mateo McCormick knew that he really couldn't refute.

He glanced at Rockefeller opposite, sat down silently, and chose silence, which also showed to Morgan and Rockefeller that he had tried his best.

On the stage, after Mateo McCormick sat down, Jolson Adams saw Abel start to play with energy and aggression again. It is very similar to the way those American businessmen began to move forward bravely when they began to expand overseas from the United States after the end of the Gilded Age.

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

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

Suddenly, after Abel finished speaking, Jonson Adams raised his hand: "I think your suggestion, Mr. Smith, is very good, and you are indeed capable of doing this job. I think it is time to initiate a vote, and I choose to support it." This proposal and support Mr. Smith in taking charge of this work."

Jonson Adams' sudden movement obviously surprised David Rockefeller next to him. John Cleese next to David even sat up straight in anger.

The other bankers also cast curious, surprised, strange or unclear looks on Jolson Adams.

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

Qiaosen couldn't help but glance at Mateo McCormick opposite.

I thought that 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 the stage, Abel laughed directly.

"I'm very grateful to Mr. Adams for his confidence, and I think so too. I also think there can be a vote, and I will cast my vote."

As soon as he finished speaking, his uncle John Wilson raised his hand directly: "Wilson, Director of the San Francisco Reserve Bank, votes for Mr. Smith."

As soon as John finished his move, several other people from the California consortium next to him also raised their hands, but not all of them raised their hands, only about 60%.

These are probably the directors that the Wilson family can influence in the California consortium.

The people in the Texas consortium were similar to John, and they also raised their hands immediately.

Then Pierre-Eugène Dupont also voted in favor.

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

Within minutes.

Matteo McCormick made a somewhat envious 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 approval.

It turns out that Smith is already here and has almost as much say as Rockefeller and Morgan!

Mateo McCormick was surprised and envious.