let's take a look at the role of the rothschild family the family sent to be the wealthiest in the world mythology surrounding the rothschilds wealth and power is two centuries old the resulting mythology has proved almost as long lived as the  ever since the second decade of the nineteenth century there has been speculation about the origins and extent of the family's wealth about their political influence not only in the five countries where they were robbed child houses but throughout the world about their judaism the five profit child houses constitute an early version of what later became known as the multinational perhaps the most important point to grasp about this multinational partnership is in this sense phrases like kings of the jews which contemporary supplied to them contained an important element of truth that was exactly the way the rothschilds saw and conducted themselves there are no fewer than one hundred fifty three species third generation also threw themselves into hunting and horse racing those quintessentially aristocratic past times they also extended their patronage to include writers benjamin disraeli  rothschilds appreciated the importance of proximity to politicians the men who determine not only the extent of budget deficits but also the domestic and foreign policies which so influenced the financial markets and politicians soon came to realize the importance of proximity to the rothschilds good times seemed indispensable to the solvency of the states the politicians governed and who could always be relied upon to provide up to the minute political news when the former  ross child influence extended to will two years well it is extraordinary to find that the families interests in the financial affairs of king george the board predated his exemption to the throne by as much as fifteen years court banker in england though it was george the fourth the only member of the british royal family to make them lend money in the eighteen twenty in one nine hundred twenty four for example he lent ten thousand pounds to the duke of york as well as giving him one hundred complimentary shares in the alliance insurance company the rothschilds also looked ahead to the next generation in one thousand sixteen the only child of the prince regent princes charlotte nathan hastened to offer the proud father of financial advice and his exclusive messengers service nathan sons continued to act as the duchess's banker after the duke's death relaying money to her brother f became queen victoria's prince consort in turn victoria albert's eldest son was on friendly terms with many members of the family before and after he succeeded his mother as edward the seventh the list of victorian politicians who even as late as the first decade of the twentieth century a system of partnerships continued to function in such a way that english rothschilds had a financial stake in the paris house and french rothschilds a stake in the london house the history of the rothschilds also helps to eliminate the long running differences between british french and german banking but the obvious reason that the various rothschilds houses were similar though not identical ways in each country in addition to the inevitable web of credits and debits with other firms which arose from these activities the rothschilds also offered to a select group of customers usually royal interest to credit individuals whom they wished to cultivate a range of personal banking services ranging from large personal loans as in the case of the austrian chancellor prince metternich to a first class private postal service as in the case of queen victoria and the rothschilds were also major industrial investors an aspect of their business which has often been underestimated when the development of railways raised the possibility of transforming europe's transport system in the thirty's and eight hundred forty s the rothschilds were among the leading financial backers of lines beginning in france austria and germany indeed by the eight hundred sixty s james de rothschild had built up something like a pan european railway network extending northwards from france to belgium southwards to spain and eastwards to germany switzerland austria and italy from an early stage the rothschilds also had major mining interests beginning in the eight hundred thirty s with their acquisition of the spanish business this was an authentic li global operation extending from south africa to burma from montana to baku unlike modern multinationals however this was always a family firm with executive decision making strictly monopolized by the partners who until nine hundred sixty were exclusively drawn from the ranks of male rothchild there are numerous apocryphal business maxims attributed to the rothschilds for example to hold a third of one's wealth in securities a third in real estate and a third in jewels and artworks to treat the stock exchange like a cold shower which in quick out or to leave the last ten percent to someone else the economic history of capitalism is therefore incomplete until some attempt has been made to explain how the rothschilds became so phenomenally rich all nineteenth century states ran budget deficits and some almost and it was war and the preparation for war which generally precipitated the biggest increases in expenditure for it was by lending to governments or by speculating in existing government bonds th rothschilds made a very large part of their the answer lies in the way these investments were carried out only a few years previously buyer and shell had been arranging payments of some six hundred twenty thousand who'd been from the elected to austria to pay for troops and horses in the eight nine campaign against france shortly after my ram shows death his son and show was advancing two hundred fifty five thousand who'd been to purchase horses for the french army he simply backed both sides such a strategy has obvious attractions and it was to become a frequent rothchild gambit in the decades ahead actual was only half joking when he wrote urging solomon do your stuff make the frankfurt house richer by a million francs the  parasites richer by a million louis d'or and the london house richer by a million pounds you'll be awarded the order of the ground on me such transactions probably accounted for the lion's share of the profits the rothschilds made in this decisive period in june one thousand fourteen harris listed the payments they had so far made to prussia austria the french king and the british army including money that had not yet been disbursed the total was twelve million francs more was to come fine al the markets were tending to follow the rothschild lead as karl noted when we buy everybody buys this reflected the widespread belief that the rothschilds were acting on behalf of the english government and that this was being done in order to force the rate of the pound sterling up that we succeeded very well in doing so but now let's return to nepal because nothing else in history more aptly demonstrates the ingenuity of the rothschilds family than their control of the british stock market after water in  fifteen a year after the end of the war of eighteen twelve an american napoleon a scaped his exile and returned to paris just as the brothers appeared to be losing the peace bonaparte's hundred days plunged europe back into war restoring the financial conditions in which the rothschilds had give their to thrive this time not only russia and prussia but the previously aloof austrians found they had little option but to accept payment mark s denmark and sardinia altogether harris's account with nathan in eight hundred fifteen amounted to nine million seven hundred eighty nine thousand seven hundred seventy eight pounds in this the rothschilds had invaluable in the allied powers themselves naturally wished to pocket as much as they could before peace was signed in the subsidies ceased as their father had taught them the brothers were always careful to make their terms attractive not only to governments but also to the individual officials with whom they were negotiating englishman gave their lives on a steamy summer day in july of eighteen it seemed the outcome was certainly in down in fact at napoleon attacked a few hours earlier it would probably have won the battle other nervous investors thought the wrong job was selling it should only seen one thing napoleon once wellington most of them on the market plummeted soon everyone was selling their console their british government bonds  what's even more interesting about this story is that some authors claim that the day after the battle of waterloo in a matter of hours nathan rothschild came to dominate not only the bond market but the bank of england as well whether or not the rothschild family seized control of the bank of england the first privately owned central bank in a major european nation and the wealthiest one thing is certain by the m eighteen hundreds the rothschilds were the richest family in the world bar none they dominated the new government bond markets and branched into other banks and industrial concerns like france and britain the central and east european states emerged from the war with dire financial problems which could be addressed only with the assistance of foreign capital as disraeli later put it in his after the exhaustion of a war of twenty five years europe must require capital to carry on peace france wanted some austria more russia a little russia a few million more over the german writer knew big ben they were the nation's worst enemies they have done more than any to undermine the foundations of freedom and it is unquestionable that most of the peoples of europe would by this time be in full possession of liberty if such men as rothschilds in not lend the autocrats the support of their capital moreover the rothschilds were also his business that lending money to establish greece as an independent monarchy had been another liberal goal of the eighteen twenty even appeared to be in a position to influence the decision as to which prince would become the new king therefore make more sense to argue that the rothschilds were beginning to supplant rather than merely shore up the european sixteen and eighteen seventeen the size of the floating debt reached twenty million taler by the autumn when the government began to contemplate raising alone in london e in sterling with the interest payable after nearly not in berlin but in london secondly there was to be a british style sinking fund to ensure the amortization of the loan this deliberate and lissa's ation of  foreign loan was a new departure for the international capital market now it was much easier to invest in foreign affairs the fact that throughout the century old foreign government bonds paid higher yields the british council's meant the people did the times did not exaggerate when it later described nathan as the first introducer of foreign loans into britain moreover the loan was issued not just in london but also in frankfurt and in hamburg amsterdam and vienna in other words it represented a major step towards the creation of a completely international bond market in stipulating these conditions nathan not only succeeded in making the prussian loan attractive to british and continental investors also established a model for such international bond issues which would swiftly become standard in his book on the traffic in state bobbins eighteen twenty five the german legal expert johann heinrich bender identified this as one of the rothschilds principal contribution to modern economic development any owner of government bonds can collect the interest at his convenience in several different places without any effort and so forth an investor could receive the interest on the austrian that the apollo romped or any other rothschild issued bonds from any of the rothschild houses although the terms of the loan were heavily criticized in berlin not least by the bankers their will build and wrote or were impressed or went further the ross child in this country has an incredible influence of all financial affairs here in london it is widely stated it indeed close to the truth that he entirely regulates the rate of exchange in a city just dollar as a banker is enorm does not inhibit one state to make war on another exactly as before but it does make it difficult for the people to overthrow established the already religion is no longer able to guarantee governments that the people will remain peaceful the rothschilds system without no power in europe today seems able to make in a multi polar world in which five hours with distinct interests sought to resolve international crises without resorting to war the boss giles acted not so much to ensure peace as to underwrite it once it had been made examples can also be found in refusing gladstone's requests to make lionel the rothschilds appear queen victoria explicitly question whether one who owes his great wealth to contracts with foreign governments for loans or to successful speculations on the stock exchange can fairly claim a british spirit a good illustration is john reams his book the rothschilds the financial rulers of nations which returns a typical verdict the ro childs belong to no one nationality they are cosmopolitan they belong to no party they were ready to grow rich at the expense of friend and foe alike the central dilemma which confronted the rothschilds la because of their wealth other jews look to them for leadership in their pursuit of equal civil and political rights they themselves had no desire to forsake their beliefs old town and country residences or barren palestine miners nephew even in one nine hundred forty six speaking in the house of lords to defend the policy of restricting immigration to palestine the only logical solution was that for to find some alternative territory for the jews to go to this was broadly the argument of the early zionists like they adore had so we came to believe that the only solution to the jewish question was indeed for the jews to leave europe and found their own youth and stopped yet so made a succession of attempts to win the support of the rothschilds in the belief that they were about to liquidate their vast capital as a response to anti semitic attacks but his sixty six page address to the rothschild family council was never sent  initial rebuff that they were vulgar contemptuous egotistical people rob child he later declared were a national misfortune for the jews even threatened to liquidate them or to wage a barbaric campaign against them if they opposed him if a zionist could use such language in the eight hundred ninety s it is perhaps not surprising that the radical anti semites to flourish to the defeated states of central europe after the first world war did so to a good example is the trick eccles address to all working people of nine hundred ninety the house of roster wild owns forty billion they only need to administer their wealth to see that it is nicely place they do not need to work at least not put we understand by work but who provides them and their like with such an enormous amount of money who does this you do it nobody but you that's right it is your money hard earned through care  financed wars and revolutions and brought the peoples into interest servitude through loans the television preacher and republican politician pat robertson's book the new world order published in one thousand nine hundred one states a cursory search of the internet reveals a plethora of conspiracy theories the rothschilds arranged the murder of president lincoln as his post war policies would have wrecked their commodities speculation the rob childs finance the rise of hitler as about work against the soviet union the rothschilds are interwoven with the catholic church and jointly with the traditional mafia and the american cia which was pro nazi they are the hidden power which controls other of england and the federal reserve system and obvious rothschild front through this network of global power they have been responsible for among other things the boer war the creation of the israel to control the oil of the middle east the russian revolution a coup on russia by the united states financial arms largely controlled by the rothschilds and even the floating of the dollar by president nixon today they and their associates in the conservative party in the press are plotting to monopolize the world's energy supplies and they're interested electricity coal and gas privatization it might be thought that a serious banking history should scrupulous avoid reference to this kind of nonsense it is impossible to appreciate the need for a scholarly history of the subject if one blithely pretends such myth do not exist these late verses indicate a keen awareness of the power of money and specifically of the new kind of financial power personified by nathan ross a child who hold the balance of the world past byron in the twelfth cant who reign over congress whether royalist or liberal who rouse the shirtless patriots of spain who keep the world both old and new in pain or pleasure to make politics run liberal the shade of bonaparte's noble daring jew ross child and his fellow christian bearing to byron rothschild unvarying were the true lords of europe whose every loan is not a merely tolls were experienced by british industrial securities and latin american bonds such a severe asset price deflation was bound to bring a banking crisis in its wake as it was seventy three out of seven hundred seventy country banks failed the country came within forty eight hours of putting stop to all dealings between man and man except by barter much of the time nathan was a buyer or borrower of gold and silver in december eighteenth twenty five however it was the other way round the rothschilds gave the bank their gold supplying the old lady of threadneedle street with enough specie from the c of course nathan would not have made such immense deliveries of gold without asking for a generous commission in return the operation has to be seen as part of his campaign to establish himself as the dominant force in the the rescue of the bank was a remarkable achievement which owed everything to the international nature of the rothschilds operation in effect the brothers were establishing that system of international monetary co operation which would later be performed routinely by banks on which the gold standard came to the then increasingly their position in the international bullion market was becoming as dominant as their position in the international bond market byron was therefore not at the same time by dint of their size the rothschilds came to see themselves as bearing a degree of responsibility for the stability of the banking system as a whole this explains their reluctance to see their  the rothschilds were increasingly beginning to think in a way fundamentally similar to that characteristic of central bankers were the central banks of england and france continued to be partly private institutions in terms of their financial resources they were in fact the only banks comparable with the rothschilds but of course they were national where the rothschilds were international and the rothschilds had no interest in resisting their monopolization of note issues the relationships between the rothschilds and the european central banks with us almost always close and establishing themselves as the leading specialists in european public finance and not only european new fiscal needs quickly arose from the political crises which beset the spanish an ottoman empire is in this period it was this need which nathan and his brothers successfully met the system they developed enabled british investors and other rich capitalists in western europe to invest in the debts of those states by purchasing internationally tradeable fixed interest transferable bond the significance of this system for nineteenth century history cannot be overemphasized for this growing international bond market brought together europe's true capital to people wealthy enough to be able to tie up money in such assets and shrewd enough to appreciate the advantages of such asset says compared with traditional forms of holding well land being a lot less and so on bonds were liquid they could be bought and sold five and a half days out of seven on the major bourses of europe been traded informally at other times and in other places and they were capable of accruing large capital gains if investors bid up the price of a government stock that government could feel secure if they dumped that stock that government was quite possibly living on borrowed time as well as money for this reason bond prices had a significance which have to seldom spelt out they were it might be said the kind of daily opinion polls an expression of confidence in a given regime of course they were an opinion poll based on a highly on representative sample by modern democratic standards only the wealthy the capitalists got the vote these capitalists with us to a large extent europe's political class indeed the kind of people who held government bonds were very roughly speaking the people who were represented politically and their opinions were the opinions that mattered in a stratified and democratic society the singular beauty of the bond market was that virtually every state including as the century of bands all the new nation states and colonies had sooner or later to come to and most states had sizable amounts of tradeable death in circulation the varying fortunes of government bonds provided by the insight into the political history of the period they are also the key to understanding the extent of the power of a bank like rothschilds which for much of the nineteenth century was the prime market maker for such bo what determine the ups and downs of the nineteenth century bond market the answer to this question is central to any understanding of the history of the rothschilds bank obviously economic factors played an important part but the most important factor was political confidence the confidence of investors and especially a big market making investors like the rothschilds in the ability of the bond issue in states to continue to meet their obligations that is to pay the interest on their bonds there were only really two things which might cause them not to do so war which would increase their expenditures and decrease their tax revenues and internal instability ranging from a change of ministry to full blown revolution it was for indications of either of these possible crises but the markets and the rothschilds more than anybody watched three things would give an investor an over his rival closeness to the center of political life the source of new news the speed with which he could receive news of events in states far and near and the ability to manipulate the transmission of that news to other investors this explains why the rothschilds spend so much time and energy and money maintaining the best possible relations with the leading political figures of the day it also explains why they carefully developed a network of salaried agents in other key financial markets whose job it was not only to trade on their behalf but also to keep them supplied with the latest financial and political news the rough child's communications network gave them an important advantage over their competitors even after they lost this age they continued to exercise an influence over the financial press through which news reached a wider public indeed it can be argued that by modifying the existing system for government borrowing to make bonds more easily tradable the rothschilds actually created the international bond market in its modern form as early as august eight german confederations diet in frankfurt had a conversation with his austrian counterpart down the book which acutely identified the unrivaled extent of the rothschilds political influence in europe this house has through its enormous financial transactions and its banking and credit connections actually achieve the position of a real power it has just such an extent acquired control of the general money market but it isn't a position either to hinder or to in fact the rest of the nineteenth century was known as the age of the rothschilds they financed cecil rhodes making it possible for him to establish a monopoly over the diamond and gold fields of south africa in america they financed the heroine's and railroads the vanderbilt's and railroads in the press and carnegie in the steel industry among many others by eight hundred fifty james rothschild the heir of the french branch of the family was said to be worth six hundred million french francs one hundred fifty million more than all the other bankers in france put together in built this mansion called and that is rothschild by the end of the nineteenth century one expert estimated that the rothschild family controlled half the wealth of the world despite this overwhelming well the family has generally called the baby and all of the visibility although the family controls stores of industrial commercial mining and tourist corporations only a handful bare of the rothschild there is no evidence that their predominant standing and european or world finance has changed shared with other haitian housing the old rothschild predominant in the south african gold market had already been reasserted three years previously when the international gold market reopened once again the world go number of japanese companies including hitachi and pioneer the logical way of advancing britain's financial integration with the continent was to establish some kind of cross channel institutional link the creation of last child continuation holdings agency as the swiss based parent company was in this sense president with historical significance to recreate something like the system of international partnerships which had been the rothschilds greatest strength in the