Apr 10, · A German-born con man who spent years posing as a member of the Rockefeller family has been convicted of a killing dating back to A selective list of top families whose wealth, political clout, and philanthropy allow them to make a major difference in the life of the nation’s capital. Apr 10, · A German-born con man who spent years posing as a member of the Rockefeller family has been convicted of a killing dating back to
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Back to table of contents. We have investments, but not control. At his Vice Presidential confirmation hearings, Nelson A.
Rockefeller was as solemn and serious as P. Barnum swearing his freak show denizens were the real Mc Coy when he told the assembled solons:. I hope that the myth or misconception about the extent of the family's control over the economy of this country will be totally brought out and exposed and dissipated There is not this network of control which is popularly conceived. The Senators could not have been more polite.
The transcript does not indicate that they even tittered. After all, fools seldom get elected to the Senate these days. Nelson and David, as leaders of the Rockefeller Clan, are the nation's undisputed economic kings. No politician with enough savvy to be elected dog catcher laughs at a king. Guessing the magnitude of the Rockefeller financial empire has been a favorite indoor sport since the turn of the century.
Not a bad return for a single day's labor, even for a Rockefeller. The Brothers Rockefeller,inheritors of a colossal fortune, are using their massive wealth, power, and prestige to create what they call the "New World Order.
After years of planning and campaigning, a brilliant coup d'etat has finally installed Nelson in the White House, without the risk of an election. About this period, however, the picture of the family's growing financial might becomes more murky.
The Rockefellers began hiding their wealth from the public and the tax collector -in trusts and foundations. As reported in the Washington Post:. For two generations, the great fortune passed down by John D. The Rockefellers invented a scheme, used by the super rich today, whereby the more money you appear to give away, the richer and more powerful you become. Through the help of captive politicians, guided by some bright boys in the family law offices, legislation was written and passed which would protect the Rockefellers and other elite super-rich from the repressive taxation they have foisted on everyone else.
The key to this system is giving up ownership but retaining control. For example, most people don't believe they really own something unless they retain title to it in their own name. The Rockefellers know this is a big mistake.
Often it is better to have your assets owned by a trust or a foundation-which you control-than to have them in your own name. The net effect was the same as if you took your wallet out of your right-hand pocket and put it in the left. In this case, however, Rockefeller not only managed to avoid income taxes, but also escaped the probate, estate and inheritance taxes which have ravaged the wealth of those not in the know.
So three generations of Rockefellers have been - giving away millions of dollars - giving much of it to themselves. For example, if a Rockefeller gives a million dollars worth of stock in the Titanic Oil Corporation to the Dogood Foundation, which the family controls, he is not really out one million bucks.
All he has done is transfer title of the securities to an alter ego. Of course, the foundation may then give away some of the money, or, more likely, donate some of the stock's future earnings to some allegedly worthwhile cause. But, as the few investigations by Congress into this devious field have shown, in the case of the Rockefellers such bequests somehow end up increasing the Rockefeller financial or political power.
The upshot is that, through the past six decades, the public has had no way 'even to estimate Rockefeller wealth, let alone accurately measure the family's power and influence. But we can make some logical extrapolations from the few facts that are available. Of course the family has never admitted being worth even a sizable fraction of this amount. So great was public suspicion of the Rockefeller wealth that the family's financial adviser, J. Richardson Dilworth, was invited to testify before the House judiciary Committee.
Dilworth became the Rockefeller family's key money manipulator in Kuhn, Loeb was, and still may be, a satellite of the immensely rich and powerful Rothschild family of Europe.
Historically, the Kuhn, Loeb name has been synonymous with financial success and political intrigue, dating back to participation through senior partner Jacob Schiff in bankrolling the Bolshevik revolution in Russia. In the past, the Rockefellers have both competed with and cooperated with the Rothschilds. Dilworth maintains an office designated as Rockefeller Family and Associates, occupying three entire floors at 30 Rockefeller Plaza. Rockefeller Family and Associates is not a legal entity or corporation; it is simply a name to describe the organization which coordinates and manages the investments of the 84 descendants of John D.
With the well-oiled assurance of a successful mortician the urbane, sophisticated Dilworth laid to rest the committee's concern over the family's financial muscle. He used five charts, crammed with statistics, to dispel the notion that the family exercises inordinate power over the nation's economy. Rocky's critics found it difficult to dispute Dilworth's bewildering collection of figures; at times they could hardly keep up with them.
The whole performance was as confusing as an Eisenhower press conference, and probably as deliberate. As one observer commented:. Presumably he rounded off the figures to the nearest thousand dollars. The bulk of the assets disclosed by Dilworth were held in two trusts, one established by John D. But according to many sources, the Rockefellers have as many as trusts and foundations, and it is possible they have hundreds, even thousands more. Why bother with so many? For one very simple reason: So that assets can be moved, merged, and manipulated so smoothly and so quickly that the public-and just as important, the tax experts from the Treasury Department-have no way of knowing just how much money is where.
Suppose you had three buckets, one empty, two filled with water. Is there any way you could pour water from one bucket to another so quickly an observer could not tell how much water you had? But suppose, instead, you had five thousand buckets. And a hundred persons to help pour. And you were allowed to keep all but a few buckets and a few pourers hidden behind a high wall. Would your chances be better to keep your -liquid assets - secret? So it is with the Rockefellers. All trusts are not equal.
Only a handful of attorneys in the country know how to establish the type of trusts the Rockefellers have. These specialized trusts are most emphatically not the sort your friendly local solicitor can create for you. They not only can eliminate probate, cut inheritance taxes, and reduce income taxes; unlike corporations, they can achieve almost total privacy.
Theoretically, trustees can, within the privacy of their directors' meetings, create more and more trusts ad infinitum With a little effort, taxes disappear. With more effort, even the value of the holdings can be completely hidden. This explains why the Rockefellers use so many trusts. The fact is that we really don't know how many trusts the family has established. Remember Nelson's explanation for the embarrassing fact that he did not pay any income tax in his trust fund managers had done a lot of shifting of investments in You can bet they moved their assets to accomplish this!
In testifying before the Judiciary Committee, Dilworth did not discuss the family's holdings by individuals, but presented them as a single package. Dilworth said he had received "unanimous permission" from the Rockefeller family to make public the total figures of their holdings.
More importantly, the privacy within the trusts can conceal whatever assets the Rockefellers decided not to make public. If the family had chosen to open up the minutes of its trustees' meetings to Congressional investigators, we might have some idea of the true financial status of the family.
No such suggestion was even whispered. We really have only the Rockefellers' word for the amount of wealth they control, and they obviously have a vested interest in minimizing its size.
How about assets hidden in foreign countries? Are there Swiss bank accounts? Rocky says no, but he could be telling the literal truth, yet have foreign accounts held by trusts or other nominees, or securities "in street name that is, in the name of a brokerage firm such as Merrill Lynch. Or assets can be held in a custodial account of a bank, such as for example Chase Manhattan. A slight miscalculation which anyone might make.
We are supposed to swallow the propaganda that the Rockefellers are merely middle-class millionaires, not even in the, same financial ball park as Howard Hughes or those Texas wheeler-dealers. The Rockefellers have been refining oil for over a century and running banks for 75 -years. Nor are the Rockefeller homesteads your basic tract bungalows. The main homes of the clan are located at Pocantico Hills in New York. Established 45 years ago by old John D. Their value today defies estimate.
When opened to the press for the first time in , at the time of the marriage of Nelson's son Steven, the estate, with its 70 miles of private roads, was said to be 4, acres in size. Earlier reports claimed 7, acres. In there were 75 buildings occupied by the Rockefellers and their attendants; over families lived on the estate.
One wag has described the palatial Pocantico Hills as the kind of place God would have built if he had had the money. Among the other chateaux owned by Nelson is the enormous Monte Sacro Ranch in Venezuela, his coffee plantation in Ecuador the one where Juan Valdez waits for the perfect day to pick the beans , his several farms in Brazil, his room Fifth Avenue duplex in New York City, the mansion in Washington, D.
In addition, at last count the Rockefellers owned seven huge ranches. Earlier this year , Nelson bought 18, empty Texas acres for -outdoor recreation.
The four of them have about residences to choose from, including John D. Needless to say, it takes an army of underlings to operate these elegant pads.
There are full-time domestics, gardeners, guards and chauffeurs at Pocantico Hills alone, 45 at the family's Seal Harbor, Maine, retreat, and 15 in Nelson's Fifth Avenue apartment.