It begins in the summer of 1916 in New York City with a Jewish Banker From Sweden, named Olof Aschberg, acting on behalf of the Tsarist Government to get a loan of 50 million dollars or a 150 million rubles.
Who was Olof Aschberg?
Let me quote from Antony C. Sutton:
“Olof Aschberg, the “Bolshevik Banker” (or “Bankier der Weltrevolution,” as he has
been called in the German press), was owner of the Nya Banken, founded 1912 in
Stockholm. His codirectors included prominent members of Swedish cooperatives and Swedish socialists, including G. W. Dahl, K. G. Rosling, and C. Gerhard
Magnusson.18 In 1918 Nya Banken was placed on the Allied black-list for its financial operations in behalf of Germany. In response to the blacklisting, Nya Banken changed its name to Svensk Ekonomiebolaget. The bank remained under the control of Aschberg, and was mainly owned by him. The bank’s London agent was the British Bank of North Commerce, whose chairman was Earl Grey, former associate of Cecil Rhodes. Others in Aschberg’s interesting circle of business associates included Krassin, who was until the Bolshevik Revolution (when he changed color to emerge as a leading Bolshevik) Russian manager of Siemens-Schukert in Petrograd; Carl Furstenberg, minister of finance in the first Bolshevik government; and Max May, vice president in charge of foreign operations for Guaranty Trust of New York. Olof Aschberg thought so highly of Max May that a photograph of May is included in
It was with this loan that everything began to change in Russia, and this is how:
“In the summer of 1916 Olof Aschberg was in New York representing both Nya
Banken and Pierre Bark, the tsarist minister of finance. Aschberg’s prime business in New York, according to the New York Times (August 4, 1916), was to negotiate a $50 million loan for Russia with an American banking syndicate headed by Stillman’s National City Bank. This business was concluded on June 5, 1916; the results were a Russian credit of $50 million in New York at a bank charge of 7 1/2 percent per annum, and a corresponding 150-million-ruble credit for the NCB syndicate in Russia.
The New York syndicate then turned around and issued 6 1/2 percent certificates in its own name in the U.S. market to the amount of $50 million. Thus, the NCB syndicate made a profit on the $50 million loan to Russia, floated it on the American market for another profit, and obtained a 150-million-ruble credit in Russia.
During his New York visit on behalf of the tsarist Russian government, Aschberg
made some prophetic comments concerning the future for America in Russia:
The opening for American capital and American initiative, with the awakening
brought by the war, will be country-wide when the struggle is over. There are now
many Americans in Petrograd, representatives of business firms, keeping in touch
with the situation, and as soon as the change comes a huge American trade with
Russia should spring up.20“
This man also helped to fund the Socialist uprising in Spain and the money he got to begin the trade deals with the United States, was stolen from the Crown and the Orthodox Church. So all that military equipment we sent Russia to build up it’s military, was blood money taken from the Church and from the murdered Royal Family.
To Understand all of this, you must read the works of Antony C. Sutton.
It is in his book, Wall Street and the Bolshevik Revolution, you understand what is going on today in America.
To Read this book for free, click the download link below.
The Tsar and Family was setup and murdered for 50 Million Dollars by a man they thought they could trust and who gets a nice new job afterwards in running the First Bank Of Soviet Russia.
“Several years later, in the fall of 1922, the Soviets formed their first international bank. It was based on a syndicate that involved the former Russian private bankers and some new investment from German, Swedish, American, and British bankers. Known as the Ruskombank (Foreign Commercial Bank or the Bank of Foreign Commerce), it was headed by Olof Aschberg; its board consisted of tsarist private bankers, representatives of German, Swedish, and American banks, and, of course, representatives of the Soviet Union. The U.S. Stockholm legation reported to
Washington on this question and noted, in a reference to Aschberg, that “his
reputation is poor. He was referred to in Document 54 of the Sisson documents and
Dispatch No. 138 of January 4, 1921 from a legation in Copenhagen.”24
The foreign banking consortium involved in the Ruskombank represented mainly
British capital. It included Russo-Asiatic Consolidated Limited, which was one of the largest private creditors of Russia, and which was granted £3 million by the Soviets to compensate for damage to its properties in the Soviet Union by nationalization. The British government itself had already purchased substantial interests in the Russian private banks; according to a State Department report, “The British Government is heavily invested in the consortium in question.”25
The consortium was granted extensive concessions in Russia and the bank had a share capital of ten million gold rubles. A report in the Danish newspaper National Titende stated that “possibilities have been created for cooperation with the Soviet
government where this, by political negotiations, would have been impossible.”26 In
other words, as the newspaper goes on to say, the politicians had failed to achieve
cooperation with the Soviets, but “it may be taken for granted that the capitalistic
exploitation of Russia is beginning to assume more definite forms.”27
In early October 1922 Olof Aschberg met in Berlin with Emil Wittenberg, director of
the Nationalbank fur Deutschland, and Scheinmann, head of the Russian State Bank.
After discussions concerning German involvement in the Ruskombank, the three
bankers went to Stockholm and there met with Max May, vice president of the
Guaranty Trust Company. Max May was then designated director of the Foreign
Division of the Ruskombank, in addition to Schlesinger, former head of the Moscow
Merchant Bank; Kalaschkin, former head of the Junker Bank; and Ternoffsky, former head of the Siberian Bank. The last bank had been partly purchased by the British government in 1918. Professor Gustav Cassell of Sweden agreed to act as adviser to Ruskombank. Cassell was quoted in a Swedish newspaper (Svenskadagbladet of October 17, 1922) as follows:
That a bank has now been started in Russia to take care of purely banking matters is a great step forward, and it seems to me that this bank was established in order to do something to create a new economic life in Russia. What Russia needs is a bank to create internal and external commerce. If there is to be any business between Russia and other countries there must be a bank to handle it. This step forward should be supported in every way by other countries, and when I was asked my advice I stated that I was prepared to give it. I am not in favor of a negative policy and believe that every opportunity should be seized to help in a positive reconstruction. The great question is how to bring the Russian exchange back to normal. It is a complicated question and will necessitate thorough investigation. To solve this problem I am naturally more than willing to take part in the work. To leave Russia to her own resources and her own fate is folly.28
The former Siberian Bank building in Petrograd was used as the head office of the
Ruskombank, whose objectives were to raise short-term loans in foreign countries, to introduce foreign capital into the Soviet Union, and generally to facilitate Russian overseas trade. It opened on December 1, 1922, in Moscow and employed about 300 persons.
In Sweden Ruskombank was represented by the Svenska Ekonomibolaget of
Stockholm, Olof Aschberg’s Nya Banken under a new name, and in Germany by the
Garantie und Creditbank fur Den Osten of Berlin. In the United States the bank was
represented by the Guaranty Trust Company of New York. On opening the bank, Olof Aschberg commented:
The new bank will look after the purchasing of machinery and raw material from
England and the United States and it will give guarantees for the completion of
contracts. The question of purchases in Sweden has not yet arisen, but it is hoped that such will be the case later on.29
On joining Ruskombank, Max May of Guaranty Trust made a similar statement:
The United States, being a rich country with well developed industries, does not need to import anything from foreign countries, but… it is greatly interested in exporting its products to other countries and considers Russia the most suitable market for that purpose, taking into consideration the vast requirements of Russia in all lines of its economic life.30
May stated that the Russian Commercial Bank was “very important” and that it would “largely finance all lines of Russian industries.”
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