Thursday, October 5, 2017


The story of German industry before World War II should sound increasingly familiar to Americans. Industries are being consolidated and a few wealthy men are holding the reins.

That alone makes the book excerpted below — All Honorable Men: The Story of the Men on Both Sides of the Atlantic Who Successfully Thwarted Plans to Dismantle the Nazi Cartel System — an important read. However, the book offers much more. The publishers describe it as “A scathing attack on Wall Street’s illegal ties to Nazi Germany before WWII — and the postwar whitewashing of Nazi business leaders by the US government.” This is no exaggeration.

In fact, the CIA allegedly tried to buy all copies of this book when it was first published.

The author, James Stewart Martin, had been the Department of Justice’s Chief of the Economic Warfare Section during World War II. Part of his job had been suggesting key German industries for aerial bombardment.

After the war, he became director of the Division for Investigation of Cartels and External Assets in American Military Government.

President Harry S. Truman sent him to Germany to investigate Nazi economic warfare, and to dismantle Third Reich industry, that is, to transition the monopoly control of German businesses to a free market economy, a process known as decartelization.

Martin was also sent to Germany to investigate the connections between these Nazi-controlled cartels — and Wall Street. The connections were wide and deep. Many US corporations had done business with German corporations who helped fund the Nazi Party. And these businesses on both sides of the Atlantic knew what their money was supporting.

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