Paris attacks: who warned Éric de Rothschild?

Source: Panamza

INFO PANAMZA – The man supposed to have been “warned Friday morning” – according to an Israeli media outlet – of the “impending” attacks is none other than Baron Éric de Rothschild, multimillionaire businessman and president of France’s “Jewish Community Security Service” (SPCJ). Revelations.

2015.11.19 at 19h48

“A Rothschild who is not rich, not Jewish, not a philanthropist, not a banker, not industrious, and who does not lead a certain lifestyle is not a Rothschild”

The author – deceased in 1997 – of this frank declaration?

Edmond de Rothschild, banker, member of the Bilderberg steering committee, and grandson of a historic patron of Zionism.

Missing is an additional qualifier – used notably by stock-market speculators – in his declaration relative to Rothschild heirs: “insider”.

Sunday, November 15, two days after the attacks that stained Paris with blood, Panamza was reporting the troubling revelation – published the previous day – from an Israeli daily newspaper:

Friday morning, those responsible for security within the Jewish community would have learned of “an impending large terrorist attack”, according to The Times of Israel. The author of this confidence: the well-informed Jonathan-Simon Sellem (alias JSS), Franco-Israeli extremist for the Zionist cause and great friend of Meyer Habib. 

Wednesday, November 18, Panamza flagged the alteration of the article published in the Israeli press. The initial and precise mention of “Friday morning”, time of the warning, was replaced by an expression watering down the original information: “for months”.

Today, it is possible to identify the principal “official” responsible in France for the “security of the Jewish community”.

It is Éric de Rothschild, 75 years old, son of Alain de Rothschild (ex-director of CRIF), wealthy businessman, president of the Shoah Memorial, successful “kosher” wine grower, and president of France’s “Jewish Community Security Service” (SPCJ, nicknamed the “official LDJ/Jewish Defense League”).

This new information from Panamza is, by the way, corroborated – unbeknown to them – by a site dedicated to Jewish cultural news and called Jewpop.

Exasperated by the revelation from the Israeli press, Alain Granat, host of the Jewpop site, castigated the journalist who gave the floor to JSS. In his column posted online the day before yesterday, he thus indicates having sought input from the principal organization supposed to ensure the security of French Jews: the SPCJ. Needless to say, the organization presided over by Éric de Rothschild assured him that it had never been aware of such information (warning of an impending attack).

Like the ultra-Zionist tandem Cukierman–Ghozlan, Granat attempts to contain the blaze sparked by JSS’ leak. No surprise from a man who was recently invited by CRIF, and whose site Jewpop “benefited from the support and advice of Ezra Venture”, a financial aid group (for any project related to Judaism) that was founded by Vincent Worms (co-director of an Israeli–American investment fund).

Another figure who vainly attempted to defuse JSS’ inadvertent bomb: Rudy Reichstadt.

Historical member of “Caroline Fourest’s Boy Band”, this crypto-Zionist blogger (who gave himself the mission of demonizing anyone likely to question the State’s word within the Western sphere) relayed Granat’s column on his site. Interestingly, JSS sent him this spicy right of reply, presented thusly by Reichstadt:

He formally denies having said that “the Jews knew” that there would be attacks in Paris.



“Obviously, that’s false and dangerous,” he wrote.



He continued: “I simply explained to The Times of Israel that the Jewish community of France, just like all of French national society (police, army, etc.), were in a state of alert. I also added that I had been aware of an SMS from a security expert who wrote to his friends explaining that one has to remain vigilant because of the state of emergency (Vigipirate threat level Scarlet, Rohani visit, Jew stabbed in Rome, failed attempted attacks, etc.). Moreover, I myself was in Paris during the attacks. If I had known something, I would have been suicidal to have been in the vicinity. (…) Be that as it may, maybe I expressed myself badly, maybe the journalist put my remarks on paper badly (…), but of course I never, never, never suggested that “someone knew”, and least of all myself.” Duly noted.

We underline, moreover, that JSS (who indicates that he had been passing through Paris until Saturday, day of his return to Tel Aviv) affirms in his interview given to The Times of Israel having initially envisaged going to the Stade de France (venue around which the first explosions unfolded) before changing his mind – without explanation – and going to the cinema.

And what about the relations between the community-focused Éric de Rothschild and Israel?

To understand his connection with the apartheid, colonialist, and terrorist regime of Tel Aviv, it is necessary to comprehend the dual nature of the Grand Synagogue of Paris of which he is the honorary president: iconic center of Judaism in France but also – as Panamza revealed in May 2014 – recruitment base for the Israeli army.

No surprise, therefore, that Éric de Rothschild was the longtime co-administrator of the “Peres Center for Peace” founded by Shimon Peres, ex-Prime Minister, pleasant face of Zionist expansionism, historic figure of the Paris–Tel Aviv axis, principal architect of the Hebrew State’s illegal nuclear program, and co-director of “Operation Susannah” (Israeli attacks committed in 1954 on Egyptian soil, notably against American–British interests, and falsely attributed to Egyptian nationalists).

No surprise, either, in view of the welcome soon lavished by Éric de Rothschild on the new (very right-wing) ambassador of Israel in France. On December 7, the baron will host her in his capacity as president of the charitable foundation Casip-Cosajor (inspired by “Jewish tradition and the values of the Republic”).

Unknown to the general public, Éric de Rothschild cultivates close relationships with certain influential figures of the country. Illustration in images with François Hollande, Bernard Cazeneuve, Bernard-Henri Lévy, and Pierre Bergé.

Not to overlook two other public figures exposed yesterday by Panamza in a video relative to the medical drill – conducted Friday morning, eleven hours before the carnage – of a “multi-site shooting incident”: Martin Hirsch, director of the Assistance Publique – Hôpitaux de Paris, and his friend Marek Halter, a writer suspected by French counterespionage of being an “agent of the Israeli services”.


Simulated attacks 11 hours earlier 

A fundamental double question remains open:

* WHO informed – on the morning of Friday, November 13 – the SPCJ and its president Éric de Rothschild of “an impending large terrorist attack”?

* WHY was this vital information brought principally – even solely – to the attention of French Jewish community leaders?

One week after the events of 9/11, financial specialists had swiftly noted the existence of insider trading in conjunction with attacks that were filmed by three jubilant Israeli secret agents subsequently arrested by police.

To reveal the background of a new scandal, French citizens anxious to know the truth will have to break through a wall of silence built with the tacit complicity of a press henceforth under “control”. With a key riddle to solve as quickly as possible:

Who are the insiders of November 13?



HICHAM HAMZA



(TRANSLATION: MC)



http://www.panamza.com/191115-attentats-rothschild/

Israël et le 11-Septembre : le grand tabou 
Baron Éric de Rothschild, Château Lafite Rothschild 
Wine Enthusiast Lifetime Achievement Award: Baron Éric de Rothschild
 
Joys and sorrows of an art enthusiast, Éric de Rothschild 

More info:



Infamous Bloody Bataclan Photo Is a Fake That Could Have Been Staged Anytime



JEWISH FOREKNOWLEDGE OF 11/13 PARIS ATTACKS



Psyop in Paris – “Bombing”/Shooting Spree – Media Manipulation – « Je Suis Crisis Actor » – Multi-Site SAMU (EMT) Exercise on Nov. 13 – NATO–Gladio–Zionist Strategy of Tension – Trauma-Based Mind Control for the Masses – Manufacturing a Pretext for More Domestic Repression & Foreign Wars – Western “Intelligence” Agencies & “Security” Services Steeped in (Rothschild) Fraud and State Criminality – Stratégie Triangulaire, Sous Faux Drapeau (False Flag)

Israel and CRIF-Hijacked France: Partners in War Crimes – Geopolitricks Intended to Create an Israeli Colonial Pseudo-Kurdistan – Jewish Supremacist Zionists Intend to Steal More Territory for Their Bandit State – I$I$ = Israeli Secret Intelligence Service – Phoney “Daesh” in Syria and Iraq – “Islamic State” Is Not Islamic and Is Not a State – Turkey’s Erdoğan Crime Family Must Be Deposed – U.S. State Department’s “Arab Spring” (Jewish Winter) – “Israel”™ Needs a “Color Revolution” to Remove Its Fanatical Government From Power, and Full Right of Return for Dispossessed Palestinians – Prosecute Rogue State Terrorists (Cameron, Blair, Netanyahu, etc.) as War Criminals – “Ethnic Cleansing”™: Keeps Your Supremacist Cult’s Dirty Laundry Kosher Clean!



“Conspiracy Theories: Current Status” – Political Radicalism Observatory of the Fondation Jean-Jaurès (French Socialist Party Think Tank) – Denunciation of the “Jewish Conspiracy” – Competing With the “Official Version” of an Event – François Hollande’s Pétainism and Inversion of Values – The State Is a Leviathan Which, by Nature, Abuses Those It Governs – The “Rothschild Myth” – Cromwell, Disraeli, Rhodes, Herzl… and Rothschild



Dieudonné, Soral, and the French Resistance – Struggle Between the French People and the Zionist Plutocracy – Media Censorship or Free Speech? – Inserting a Quenelle Into Zionism’s Butt – Anti-Establishment Gesture – A Political Earthquake in France – Equality and Reconciliation



French-Zionist Ebola-Linked Chums: Bernard Kouchner (Doctors Without Borders) & Maurice Lévy (Publicis Group) – West Africans Take Up Machetes to Chase Off Foreign “Aid Workers” – Hollywood Prepping the Public Mind – Holiday Inn Ebola Ad – Why Kosher Characters Under Every Rock?



9/11: Israel’s Grand Deception

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Evelyn de Rothschild on CNBC (Dec. 10, 2008) – Unlimited Attitude – Neglecting Basic Principles – Action Must Be Taken – Hang Onto Your Gold Bars

British Banking Giant 
Wed 10 Dec 08 | 04:22 PM ET
Sir Evelyn de Rothschild shares his thoughts on the international financial system and the world economy.
Financial Services

Maria Bartiromo (CNBC): And welcome back. Joining us now in another CNBC exclusive to share his thoughts on the international financial system – what’s right, what needs to change – Sir Evelyn de Rothschild. Evelyn, nice to have you on the program; thanks so much for joining us.

Evelyn de Rothschild: Well, thank you for having me.

Maria Bartiromo: You know, I read your op-ed and I thought it was so apropos in this period, and you went through all of the people who are to blame for what has gone on, and this is a broad group. Can you take us through your observations, given the fact that we’ve seen this global situation – of course, Gordon Brown in Britain was very quick to take a stand and try and offer solutions.

Evelyn de Rothschild: Well, I think hindsight, as some people say, is an exact science; I don’t believe that there’s time talking to you to go through the past. I think what I’m interested in, how we deal with the present and go for the future. And I think that, if I may say so, I think the Group of 20 meeting was very important, because it brought out the realization that we’re all in this together. And I think Gordon Brown did a remarkable job in pointing out that you have to have action, and the action needed to be taken very quickly. But, you know, um, politicians will debate, and they will debate, but I think that we have some very important principles if capitalism is going to continue for the benefit of all.

Maria Bartiromo: A lot of people are worried that, in fact, capitalism right now is being threatened. You’ve got the government in the United States owning 80% of AIG, owning Freddie and Fannie, nationalizing those companies, and of course, investing, taking stakes in the major banks. Is this something that you’re concerned with?

Evelyn de Rothschild: Well, I think that you have to face up to the fact that you couldn’t let these people collapse, and you’ve now got to realize that you’ve got to get the better system going, and here’s one of my main thrusts. And I think regulation is important; what has happened in the past is that you haven’t had the regulation supervised. You know, it’s really easy to have regulation, but you’ve got to have the supervisors. Two things: one, they have to know what they’re supervising, and understand what they’re supervising; and they have to have the chance to have action when they decide that so-and-so, or an institution, isn’t behaving correctly.

Maria Bartiromo: So, in that vein, do you think then that it’s a positive that they’re looking for an auto czar, a car czar, to sort of police things once the autos get the money?

Evelyn de Rothschild: Well, I think that’s a form of supervision. And I’m amazed that in your country, or here in the great US of A, you haven’t put more supervision into the institutions where you’ve put your money. We in England, the banks, have been very much taken over by the government in some measure or another. Uh, the chairmen have been removed, the chief executive has been removed, and they are watching very closely how they behave.

Maria Bartiromo: Isn’t it interesting that you saw the government come in and rescue Citigroup, and yet the management and board of directors remains in place?

Evelyn de Rothschild: Well, maybe that’s a reason for that which I wouldn’t know. But I think what is important is that we’ve got to go ahead to the future. And to the next generation, and the generation after it. Capitalism is going to become a very important factor in our lives. You’ve got to make sure that people understand, first of all, that directors are well-versed in what they are dealing with. I’m ashamed to say that I think a lot of people in the banking community, which I was sometime ago involved, and I gave up banking four years ago, but I think that the important thing was for directors to understand, and the people working in the banks, what they were doing. I mean, this gearing that went on in the banks, this extraordinary measure of financial acumen which was used without people understanding.

Maria Bartiromo: So let me ask you this: As an investor, you know, I mean clearly, your family business over the years, as you say, generation to generation to generation, has proven successful throughout all of those generations. As an investor today, faced with all of this upheaval that we’re seeing globally, how are you investing? How do you see the marketplace today, with the fundamentals clearly deteriorating around the world and the global markets in disarray?

Evelyn de Rothschild: Well, in 2007 I took the view that this is going to get very bad; and I personally, I don’t mind telling you, I’m invested in government bonds. And I’m very pessimistic for the moment until we see what’s going to happen next year. But I think that it’s very easy to point out, um, how you’re placed, in investment, at the moment, uh, when you have lost a great deal of money, where do you go from here? And I feel sorry for, which we don’t talk about a lot, is what’s going to happen with the pensioners, firstly in my country they’re in trouble – I believe they’re in trouble here, you have a name for the pensions – um, and we have to face up to the fact that there are a lot of people who have lost all their savings, um, and who are going to be faced with a terrible problem of feeding their family, dealing with the problems of day-to-day living. And I think that is where the problem is going to be the greatest.

Maria Bartiromo: You’re talking about pensions as well as 401(k) plans –

Evelyn de Rothschild: Yeah, yeah, that’s right.

Maria Bartiromo: – I think that’s what you were referring to. And some companies now are deciding they don’t want to match the 401(k) money anymore for individuals, making it, making that tougher. So what signs – as an investor who actually saw something negative happening a year ago and really did, you know, save your own personal money and certainly the family. Uh, what are you going to look at, red flags, that give you a sense that perhaps we’ve gotten through the worst?

Evelyn de Rothschild: Well, we happen to know whether we’ve gotten through the worst, as you’ve put it. I think what one’s got to look at is you’ve got to look at very sound investments, and you’ve got to look at companies and organizations that have really not done some of the stupidities that have been done in the past, and you’ve got to really understand the management. I think you go back to basics. Uh, you know, one was brought up to believe that one didn’t have huge overdrafts, that banks were not geared at 70, 80, 90 times – which some of them were – and that in the case of investment, you look at things that are worth investing in. Obviously the market will depend on whether it goes up and down with the attitude of the people concerned; but I mean, if you take raw materials at the moment, I mean how much further down will oil go, for example? On the other hand, if you’re very safety-conscious, you hang onto your gold bars.

Maria Bartiromo: And of course, with oil having dropped the way it has, you’re seeing those oil-rich nations – who were, frankly, the money players, around the world, whether it’s the Russians or the Middle Easterners, buying everything from real estate to yachts and cars – they have been quieted quite a bit. What can you tell us about the environment in the UK, the environment around the world, really, you’re travelling all over the world, in terms of the economic fundamentals today, relative to the United States?

Evelyn de Rothschild: Well, I think it’s very difficult to say around the world; I mean, each country has its own problems. Um, those countries were very hit by inflation, uh, and have had to control it. Those countries which, uh, have problems with the work force, uh, and so you’ve got to look at each one. In the UK, where, unfortunately at the moment, we’re getting more people going out of work, unemployment is increasing, um, we’re going to have to find ways of helping those that are less well off. We have the housing problem like yourself, which, obviously we’re a smaller economy, and it’s going to have to be very difficult to convince people to reinvest. Because money is going to be short, so, small businesses, which is the key! Let’s face it, the world is made up of small to medium-sized businesses. I believe in this country, it’s a huge number of small and medium-sized businesses that make up a backbone of the United States. I mean, you’re talking about the auto industry – it’s the suppliers to the auto industry that are in some ways are more important than the big manufacturers.

Maria Bartiromo: All right. Which is part of the reason, I think, that, you know, the government felt that it couldn’t go down. Final question here: Do you have optimism that once we get through this, that perhaps the global financial system will be stronger, uh, given the change in focus, more regulation, as you put it, more supervision? And what about the unions? You look at, throughout Europe, you’ve got unionization; we may see more of that in the United States. Has that hurt business or helped it?

Evelyn de Rothschild: Well, I couldn’t judge on United States. Uh, we had a wonderful prime minister called Mrs. Thatcher, who put the unions in the correct measure of what they’re doing; and on the whole, the relationship in the United Kingdom with the unions is very good. But that’s a challenge for each country with its own problems. But I think what [we’ve] got to face up to is, it’s not just regulation; we’ve got to go back to basics, and teach bankers and investments people, whether it’s at hedge funds or whatever exists, that they’ve got to work within a prescribed limit. They can’t just do what they want. What we’ve had for the last 10 to 15 years is unlimited attitude: we can make money, we can do anything we like, we just have tons of time to do what we want, without regarding the regulation or regarding the basics of how you run your business.

Maria Bartiromo: Evelyn, good to have you on the program: thanks so much.

Evelyn de Rothschild: Thank you.

Maria Bartiromo: We so appreciate it. Sir Evelyn Rothschild – Sir Evelyn de Rothschild – joining us here at the NYC while you’re travelling throughout the US: thank you.

http://video.cnbc.com/gallery/?video=958574063#

______

Source: BBC News

Monday, 1 December 2008

Sir Evelyn de Rothschild calls for action 

Viewpoint
Sir Evelyn de Rothschild
Financier

All of us – countries, corporations and consumers – have neglected basic principles.

Sir Evelyn: “action has to be taken and action must be taken very soon”. 

Ethics – we have lost sight of an honest day’s work for an honest day’s pay.

Careful management – we have indulged our wants without the taxes or the prices or the cash to pay for them.

Oversight – public relations and spin have replaced disclosure and transparency; casual yet complex accounting and accommodating rating agencies left us blissfully unaware of the problems, and we revelled in our ignorance.

Hubris has replaced community responsibility as a requirement for executive positions.

American automobile executives and British bankers have been unable to form their lips into an apology.

“Management prefers to hold onto private corporate jets rather than push for fuel efficiency standards” – Sir Evelyn de Rothschild 

Yet their institutions lie in ruins and the rest of us are left feeling embarrassed for them.

Their customers worry that their savings or their working capital will just vanish, their mortgage will be transferred to a new institution they have never heard of.

Their employees wonder which of their colleagues – or they themselves – will be unemployed in the coming week, with bleak prospects for working again anytime soon.

Where is the shame of those who only months earlier boasted of ever increasing profits, of ever more clever products, of ever easier loans?

Remaining credit 

The US automakers may be the worst of the lot, so far.

New York ran into trouble during the 1970s 

Years of incompetence and now manoeuvring in the halls of Congress for a massive bailout.

Management prefers to hold onto private corporate jets rather than push for fuel efficiency standards to make their products more competitive.

Union members would rather hold onto their gold-plated pensions for life than to save their companies.

Why should taxpayers help those who have so frequently refused to accept responsibility themselves?

If the US government uses up its remaining credit to help the auto industry carry on as usual, who will lend the country the money to repair its bridges, build its power stations, clean its water, fuel its navy?

Slow revival

Thirty years ago, New York City found itself in a position similar to GM, Ford and Chrysler today.

They asked Washington for help. The government refused.

The Daily News summed it up in its front page headline – Ford to City: Drop Dead

Instead New York balanced its budget, taxed itself, reduced hiring, negotiated better labour contracts and gradually worked itself back to fiscal health.

It took more than 10 years.

Take responsibility 

This era of struggle may last as long.

Until we can be generous in accepting fault for our predicament, we will have difficulty dropping our suspicions about others so that we can get on with repairing the damage.

Unless action is taken soon, we can only see a long time of difficult and very onerous problems continuing.

Could be one or two years.

It is therefore essential that management must take a firm look at it’s problems and accept its faults and redeem them.

A lot of talk and a lot of words have been written.

But in the end action has to be taken and action must be taken very soon if we are not going to see this stretched out over many years.

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November 2010: Bloomberg Interviews Evelyn de Rothschild – Geared Up Beyond Rational Thinking – Downfall of the Euro and the European Union

Nov. 23, 2010 (Bloomberg) — Financier Evelyn de Rothschild talks about the outlook for Ireland’s banking industry and the spread of the European sovereign debt crisis. He speaks with Bloomberg’s Mark Barton during the Bloomberg Businessweek European Leadership Forum in London. (Source: Bloomberg)



TRANSCRIPT

Bloomberg: Sir Evelyn de Rothschild joins me now: thank you very much for joining us today.

Evelyn de Rothschild: I am delighted.

Bloomberg: I’ve got to talk about the subject of the day, which of course, is Ireland. And now the spotlight seems to be turning to other peripheral European countries, such as Portugal and Spain. Do you think it’s only a matter of time before Portugal asks the E.U. for aid?

Evelyn de Rothschild: Well, I think this has been going on a long time. I mean, we started with Greece; at the same time, we knew that Spain was having its problems in the property market, and Portugal was too. Uh, we always mention Italy; but Italy has been like this for 40 years: so you don’t think to worry too much about that. Uhm, I think it’s difficult to say until we see the details. Uhm, let’s see how we get out of Ireland, and see what happens.

Bloomberg: Do you think that Europe – the European project – is at risk here? I mean, some say that countries such as Greece, such as Portugal, such as Spain, might eventually have to leave the euro project. I mean, do you see that eventuality?

Evelyn de Rothschild: Well, we’re not members of the euro –

Bloomberg: Of course.

Evelyn de Rothschild: – and nor is Norway.

Bloomberg: Yeah.

Evelyn de Rothschild: But of course, Norway has the great amount of oil and opportunity from a different point of view. But you know, people are so anxious to see a downfall of the euro or the European Union: I think it’s wrong. If I may say something that made me rather sensitive: Have you looked at the problems of the United States? Have you looked at how many of the actual states of the United States are bankrupt? California; Michigan; uhm… What about the breakup of the United States, if you look at it comparing to what’s happened in Europe?

Bloomberg: I mean, you, I listened to your panel downstairs; and you were talking about protectionism. And you highlighted France and the U.S.: I mean, you said these are probably two of the most protectionist nations –

Evelyn de Rothschild: But do you want us to be careful when you say that? That’s from a trading point of view –

Bloomberg: Of course: yeah.

Evelyn de Rothschild: – and from an investment point of view. But no: what I was saying from a point of view of the structure – of the financial structure of Greece, the financial structure of the banks in Ireland, as you’ve seen. I mean, one of the things which is very remarkable in my life, is it’s taken so long for people to deal with the subject. I mean, ah, I, you have to give credit to Gordon Brown, rightly or wrongly, that he took a very quick action on nationalising our two major – or three major banks in this country, and trying to sort the thing out. Now, the banks shouldn’t have got themselves into that trouble; the Irish banks are too big for the country. I mean, RBS has a big stake in Irish banks too –

Bloomberg: Of course.

Evelyn de Rothschild: – and they’ll lose more money; so….

Bloomberg: I want to ask you a question: and putting on your former role as an investment banker at N M Rothschild. A number of rules have been implemented by Basel; and as part of that, banks will have to hold more capital. But many are criticising Basel, saying lending will be reduced to corporates and to consumers, and it’s going to slow economic growth. Are you a supporter of Basel III – or are you a critic?

Evelyn de Rothschild: No, I think that it’s the right thing to do. You’ve heard Mervyn King say very strongly that we have to have a bigger capital base. I think we, we weren’t a commercial bank: so it was different. But I think, if you are a customer, you want to have your money safely looked after. And I think that one of the confidence factors that was deteriorated, was when it was found that the banks were geared up beyond rational thinking. And quite frankly, uhm, it went to a great excess. You talk about Basel: don’t forget that one of the biggest examples of a bank which – to me – was highlighted, is the wonderful, most prominent banking institution in the world, was UBS. And it was geared up to something like 70 or 80 times. So, what do you do? Do you allow that to happen – or do you get a proper base into a bank?

Bloomberg: Sir Evelyn de Rothschild: thank you very much for joining us today.

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Patriarch of Europe’s Rothschild Banking Family – Corporate Responsibility – Unifying Holdings – Family Control – Finance Dynasty

Source: Outlook Business

‘Auditors haven’t done a good job’
Sir Evelyn de Rothschild, chairman, Concordia BV

01 Dec 2007

His considerable wealth and lifestyle lends an old-world halo to Sir Evelyn de Rothschild, patriarch of Europe’s Rothschild banking family. The Chairman of Concordia BV spoke to Naren Karunakaran on corporate responsibility but was reticent on the Rothschild involvement in the Russian oil giant Rosneft’s controversial $10.7-billion IPO in 2006. Sections of the financial community had railed against it on ethical grounds, for Rosneft’s principal asset, Yuganskneftegaz, was allegedly acquired in a forced auction by the Russian government.

Debates on corporate responsibility are gaining in decibels. Why?

It goes in waves. A change in government may bring about more regulation or less regulation. You see that in the US with Sarbanes Oxley. In the UK, we split responsibilities between the Bank of England and the Financial Services Authority. These moves reinforce corporate responsibility. I think, shareholders have to be well cared for.

Evelyn de Rothschild,
Chairman, Concordia BV

There is an accusation that corporates are obsessed with shareholder value and tend to look away at hard, societal aspects of doing business.

Investor groups, like hedge funds, are moving in. They are only keen on quick returns and aren’t particularly interested in the company per se. Their focus is on capital gains. To me, it is rather difficult to understand. It’s a question of the type of investors a company has.

The key to modern corporate responsibility, therefore, is the appointment of independent directors on the board, those who understand the business and issues, like competence of auditing. I think, the auditors worldwide have failed to do a good job.

How does one rectify the situation?

There are two sides to auditing. One is actually doing the accounting procedures; and the other is to be absolutely upfront and tell the management that the people running the accounts in the company are not doing it satisfactorily. Auditing firms have to engage in staff assessment. However, these firms are so keen to keep the business that they tend to go soft on the company. They have to be tougher.

You see this happening in the short-term?

I don’t know whether it will happen. But it should happen. Three or four companies control the entire audit world. That’s wrong. There is little to choose from. Frankly, the whole standard of ethics is the key criteria to good business. The government also has to put in tougher systems. Basically, we have to train people to behave correctly.

“Today, the key to modern corporate responsibility is the appointment of independent directors on the board”

You’ve had a close association with the global metal and mining industry.

I was director of De Beers and was close to Rio Tinto and others. I am familiar with the issues — environment and resettlement of the displaced. The shareholder has to be protected. A company cannot spend large amounts of money on the environment if it is detrimental to the value of the company.

Did it worry you when controversy hit the Rosneft IPO? ABN Amro-Rothschild was joint bookrunner to the IPO, which investor George Soros and others described as facilitating the sale of stolen goods.

Was there a controversy? I can’t remember, my memory is bad, it was a while ago.

Evelyn de Rothschild, Chairman, Concordia BV

Rothschild banking family to unify holdings

Tue Jul 17, 2007 3:00am EDT

PARIS, July 17 (Reuters) – The Rothschild banking family have struck a 446 million-euro ($615 million) deal to unify the shareholdings of the English and French branches of the family, one of their holding companies said on Tuesday.

The Paris Orleans (PROR.PA) holding company said it would now own 100 percent of Concordia BV, the ultimate holding company of the Rothschild banking group.

Paris Orleans said it would buy a remaining 50 percent stake in Concordia BV for 446 million euros in shares and in cash.

“It enables us to simplify further the shareholding structure of the group and to unify the shareholding of the French and English branches of the family for a new generation,” David de Rothschild, who heads up the French part of the Rothschild family, said in a statement.

($1=.7250 Euro) ((Reporting by Sudip Kar-Gupta; editing by Greg Mahlich; Reuters Messaging: sudip.kargupta.reuters.com@reuters.net; tel +33 1 49 49 54 52)) Keywords: ROTHSCHILD HOLDING

Rothschilds’ Paris-Orleans to Buy Rest of Concordia

By Jacqueline Simmons – July 17, 2007

July 17 (Bloomberg) — Paris-Orleans, the publicly traded holding company of the French Rothschilds, will buy the rest of family banking concern Concordia BV, enabling Sir Evelyn de Rothschild to exit with about 200 million euros ($276 million).

Paris-Orleans will pay 446 million euros for the half of Concordia currently held by the U.K. side of the family. Sir Evelyn will sell his Concordia stake of about 18 percent, while his three children will receive shares in Paris-Orleans, according to a U.K.-based spokesman for Rothschild.

”It enables us to simplify further the shareholding structure of the group and to unify the shareholding of the French and English branches of the family for a new generation,” David de Rothschild, who oversees the family’s banking group, said in an e-mailed statement today.

Rothschild, the bank that helped fund Wellington’s victory over Napoleon in 1815, united its global businesses five years ago for the first time in its 200-year history. The family also placed David de Rothschild, 64, at the helm of the group after he took management control of the U.K. branch from his English cousin, Sir Evelyn, who is 75.

Paris-Orleans will pay half in cash and issue 647,000 new shares for the remainder of Concordia. After the deal, the French and British Rothschilds will share control of Paris-Orleans, with a combined 51.1 percent of the voting rights.

Sir Evelyn’s family, principally his three children, will own 36.5 percent of the company, while David de Rothschild will hold 25.1 percent. Eric de Rothschild, 66, who currently chairs Paris-Orleans’s supervisory board, will own 38.4 percent.

Family Control

The French Rothschilds currently hold 37.5 percent of Paris-Orleans, and 45.7 percent of the voting rights. Both the English and French branches own half of Concordia, which was created in 2003 as a holding company for the family’s banking assets worldwide.

Before that, Rothschild in France and the U.K. operated separately because the Paris bank was nationalized in 1981 by Socialist President Francois Mitterrand. In 1983, David persuaded the government to give the Rothschilds a new banking license.

The plan announced today, ”will secure the long-term stability of Paris-Orleans and the family’s control of the banking activities that bear the Rothschild name,” the statement said.

The moves won’t affect day-to-day management of Paris-Orleans or the various banking entities within the Rothschild group. Banking will account for 70 percent of the value of Paris-Orleans’ assets following the transaction, which requires approval from French and U.K. regulatory authorities.

Paris-Orleans shares were suspended in Paris trading today. The stock has risen 47 percent in the past year.

As part of the reorganization, Rothschild Continuation Holdings AG, a company controlled by Concordia, will acquire 32 percent of Paris-based Rothschild & Cie. Banque. The move will bring Rothschild Continuation Holdings’ stake in the French bank to 44.3 percent.

Rothschild Continuation Holdings also controls units including London-based N.M. Rothschild & Sons Ltd. and Rothschild North America Inc.

To contact the reporter on this story: Jacqueline Simmons in Paris at jackiem@bloomberg.net

To contact the editors responsible for this story: Frank Connelly fconnelly@bloomberg.net; Adrian Cox acox2@bloomberg.net

Rothschilds’ Paris-Orleans to Buy Rest of Concordia (Update2)

Source: Bloomberg

Rothschilds to Unite French, U.K. Banks to Secure Control

By Anne-Sylvaine Chassany – Apr 5, 2012 3:55 AM PT

The Rothschild family plans to merge its French and U.K. banks into one company to tighten control over the assets before an eventual succession of the group’s chief, David de Rothschild.

Rothschild & Cie Banque, the company that holds the French assets of the family such as the eponymous Paris-based mergers and acquisitions bank, and Rothschilds Continuation Holdings AG, which holds assets including London-based bank N.M. Rothschild & Sons Ltd., will be combined under French-traded Paris Orleans et Cie. SA, it said in an e-mailed statement last night. Paris Orleans will change its legal structure to a limited partnership to give the family control over the long term, it said.

David de Rothschild

“This will enable us to address the requirements of a globalized and competitive world while securing control of the family over the group,” David de Rothschild, 69, who oversees the whole firm, said in the statement.

The decision is part of a unification process between the two branches of the family that started when David de Rothschild took managerial control of the U.K. side of the bank after his cousin Evelyn de Rothschild retired in 2004. While David is the first French national to run the English half, the ownership of the investment bank has remained split between the two families. The plan simplifies the ownership of the banking operations worldwide and will help integrate the teams further.

Succession Planning

The new structure will also facilitate the succession plans of David de Rothschild. He will be chairman of PO Gestion, a company fully owned by the Rothschild family and which will control Paris Orleans (PAOR), while Nigel Higgins, chief executive officer of Rothschilds Continuation, and Olivier Pecoux, CEO of Paris Orleans, will become co-heads of PO Gestion. His son Alexandre de Rothschild, 32, joined the family bank in 2009 from Argan Capital, Bank of America Corp.’s former European private-equity division.

“My son at 37 may be qualified to play some role,” David de Rothschild said in a 2005 interview. “It’s subject to him enjoying it and having the qualities.”

He envisages stepping down when he is between 72 and 76, he was quoted as saying in an interview with French newspaper Le Figaro today.

David was born in the U.S. when his parents fled the Nazis during World War II. The family returned to Europe when the war ended, and during the 1960s, Evelyn and his cousin Jacob rebuilt the London bank, N.M. Rothschild & Sons Ltd.

June Approval Sought

In Paris, David’s father, Guy, expanded the bank by opening branch offices and taking deposits. David joined the investment bank as chairman of the management committee in 1978 when he was 36. In 1982, the Paris bank was nationalized by Socialist President Francois Mitterrand. The same year, David opened an asset-management business in France, which he called PO Banque.

Paris Orleans is offering to buy out minority shareholders at 17 euros ($22) per share and will seek approval at a meeting in June, it said. Paris Orleans directly and indirectly owns 45 percent of Rothschild & Cie. and controls about 53 percent of Rothschilds Continuation. RIT Capital Partners Plc, the London-based investment trust led by Jacob Rothschild, and Edmond de Rothschild Group aren’t part of the group led by David de Rothschild.

Paris Orleans shares rose 3.4 percent to 16.86 euros at 12:50 p.m. in Paris, valuing the company at 548.2 million euros.

To contact the reporter on this story: Anne-Sylvaine Chassany in London at achassany@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

Rothschilds to merge British and French banking operations to secure control

The Rothschild dynasty is to merge its British and French banking operations to secure long-term control of the business and to boost the firm’s financial strength ahead of the introduction of tougher capital requirements for banks.

The Rothschild’s Paris-based bank was formed 200 years ago

By Harry Wilson

5:29PM BST 05 Apr 2012

The 200-year-old banks will be reunited under a single shareholding that will bring together the fortunes of the French and English sides of the renowned family as they attempt to safeguard the business against the effects of new regulation and the fallout from the global financial crisis.

Paris Orleans, the Rothschild Group’s Paris-based holding company, will convert into a French limited partnership, securing the families’ control of the bank against potential takeovers. The new partnership will then buy out minority investors in NM Rothschild & Sons, the UK business, as well as outstanding minority interests in the French operations.

David de Rothschild will become chairman of the partnership and said the new structure would help the bank “better meet the requirements of globalisation in general and in our competitive environment in particular, while ensuring my family’s control over the long term”.

Mr de Rothschild is a descendant of Baron James de Rothschild, who established the family’s Paris-based bank 200 years ago.

Changing the ownership structure is aimed at helping Rothschild meet the Basel III capital standards that will require banks to maintain a minimum core capital ratio of 7pc. Rothschild said its regulatory capital would be “significantly enhanced” through the merger.

Paris Orleans has a market value of more than €500m (£415m) and is about 30pc owned by outside investors. Rothschild is offering €17 per share to minority investors, a small premium to the company’s current market price.

The Rothschild Group employs 3,000 people in 42 countries and is one of the world’s leading independent investment banks, advising some of the largest international companies on capital raisings and mergers and acquisitions.

In addition to investment banking, Rothschild also provides asset management services as well as wealth management advice. The bank also remains a player in the private equity industry and operates several merchant banking operations that invest directly in business across Europe and the rest of the world.

In a break from tradition, two years ago Rothschild appointed Nigel Higgins as its chief executive, marking the first time a non-family member had been given the top job at the bank.

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Rothschilds to merge British and French banking operations to secure control

Frankfurt am Main, Germany: largest financial centre in continental Europe; seat of the European Central Bank; birthplace of the German-Jewish Rothschild banking and finance dynasty

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Rothschild in China – Investing in China’s Weather – E.L. Rothschild Captures Weather Central, Launches MyWeather.com – ‘Helping’ Farmers

Evelyn de Rothschild: China’s Growth a ‘Remarkable’ Story

June 7, 2011 (Bloomberg) — Evelyn de Rothschild, chairman of EL Rothschild Ltd., talks about China’s economic development and outlook for the country’s financial services industry. De Rothschild speaks from Beijing with Rishaad Salamat on Bloomberg Television’s “On the Move Asia.”

De Rothschild: China’s Growth a `Remarkable’ Story [click to view video]

TRANSCRIPT

Rishaad Salamat: Sir Evelyn de Rothschild joins us now, to talk about investing in China and his latest venture [1] – Weather Central – here as well. Sir Evelyn [2], thank you very much indeed for joining us; I just want to get your views on how things have evolved. Has it become a more open society – has it become an easier place to do business?

Evelyn de Rothschild: Oh, I think it is, no doubt: I think it’s a remarkable country. When you think of what has happened in the last 10 years, let alone 20 years, it is an achievement beyond recognition. I think that one of the things that is so important is people must come to China: not only come to the east coast, but to go into China and see the potential [3], and see what has been developed by the government and by private enterprise. Private enterprise is the biggest earner of opportunities, and I think it is remarkable, and I think one can but say the achievement should be recognized worldwide [4].

Rishaad Salamat: You are indeed especially interested in these reforms taking place to help the countryside along, aren’t you? [5]

Evelyn de Rothschild: That’s right; and when I was here sometime ago – I can’t remember the exact date – I had discussions with certain people in the government, because I had been involved in – I know it’s small compared to China – building a new town in England [6]. And I think it was quite right that when one went to Beijing Meiji Station [7] and you saw the people coming from the rural areas [8] who had no jobs and had to be given an opportunity [9], this was the right thing to do. Obviously it’s complicated: you have to put in the necessary requirements of living potential, you’ve got to give them good facilities [10], you’ve got to treat them fairly; and obviously in the end it’s not something that can happen overnight. And I know your government at the moment is having its problems; but I’m sure they’ll overcome them.

Rishaad Salamat: Sorry, but I want to just get to the here and now when it comes to China. There’s a bit of uncertainty; but it’s particularly a quandary as to what happens in terms of monetary policy. I believe that you’ve been talking to the People’s Bank of China: what was the view you got from them?

Liu Mingkang, “China’s top banking regulator”, Chairman of China Banking Regulatory Commission

Evelyn de Rothschild: Well, I haven’t talked to them; I had the privilege of talking to the supervisor of the Bank, who’s an old friend of mine, Mr. Liu Mingkang; and I listened to him very well at a very good conference given by J.P. Morgan last week [11]. And I think the problem is, obviously we live in a global world; everyone is worried about how one can work closer. We are all concerned about the American deficit [12] and what is happening in the United States; there is a currency problem; and it is very complicated [13]. I think trade has dropped off a bit in the last quarter; and there’s obviously the other important factor which affects people, is the cost of food has gone up [14] – and that is probably the most major problem to world society, for those who can’t afford it. When they go from one RMB to two RMBs [15], that’s a huge jump for whatever they’re eating [16]. And then the other question which comes up all the time is, are the regulation of the banks adequate? I believe there are problems of certain banks in this country – maybe not banks, but financial institutions, as we call them – who have been involved in property. And of course, property is a requirement for all; but it also can have its ups and downs [17]. And I believe there are problems here; but I’m sure that, over a period of time, they will be solved. We’ve seen the same problem in the European Union at the moment; and I think that one’s got to be patient. But it’ll be a rough time [18], in my humble opinion, for at least a year.

Rishaad Salamat: Sir Evelyn, what about the RMB situation? You mentioned a so-called currency problem – I mean, do you see the day in the next five years where it’s fully convertible and flexible?

Evelyn de Rothschild: Well, you’re talking to a person who’s quite old [19]. If I’m around in five years, I’d like to think that that is the case. I think we’ve all got to move towards that opportunity; and I think the challenge also is whether we should move towards an international currency. Because the speculation and the complexity of currency has caused some of the irritation – not only among the trading nations, but among individuals [20]. But it’s not for me to say how it’ll happen; but I think everyone who knows how to deal with these situations is very cognizant of the problem it takes to get over it. And I think the RMB will become more convertible; but when it’ll come to that is a matter for obviously the powers that be [21].

Rishaad Salamat: I want just to change tack slightly: of course, China, parts of central China are seeing the worst drought that they’ve had in many decades. Now you’ve got this investment with your wife [22] in Weather Central: how could that actually help out in terms of the planning for things such as drought?

Evelyn de Rothschild: Well, I think that first of all, we have 25 broadcast clients currently in China; and we are the number one provider of broadcast weather graphics solutions in the country. I mean, you had this downpour I believe in the last 24 hours which has caused even people losing their lives, and situations like this. With the detail that we can put up through the technology that we give to the various weather stations, this makes people more aware of it. On the whole, it’s a question of giving the opportunity [23]. I mean, we have also launched an operation called MyWeather, which gains access to the first truly personalised weather application for the Web and mobile devices. You can go up on MyWeather.com and you can find out within a kilometre of where you are, what is going to happen to the weather; it also gives a 10-day forecast. I think we’ve got to be aware that we’re living in a time – I’m not going to get into the subject which is a huge subject of climate change [24] – but we do have variations of all sorts around the world. Certainly in England we have very precarious weather [25]: we’ve had a drought up until about ten days ago. And I think it is important to realise that you can use technology which is offered by MyWeather.com to tell you and be aware of what might happen to you, especially among the farming community [26]. Also, we are very interested in helping wind power, because it gives an… [27] sorry –

Rishaad Salamat: Sir Evelyn, we’re just running out of time; but I wanted to thank you for stepping into our offices there in Beijing. Thank you very much indeed, Sir Evelyn de Rothschild.

Evelyn de Rothschild: Well, I’m very honoured that you gave me the opportunity; and I thank you very much.

[No, Evelyn: it’s Abel Danger’s pleasure – really it is. We thank you very much.]

ENDNOTES

1 See Bristol, England’s Society of Merchant Venturers for a flavour of Rothschild-type “ventures”.
2 Isn’t Evelyn a little girl’s name? Isn’t Evelyn the name of a little girl?
3 The potential for police state surveillance?
4 And what about labour standards and wages?
5 See how this elitist weasel “helped” (i.e. harmed) Indian agriculture via FieldFresh Foods and the Mittal family. Slave labour, toxic additives, driving local farmers out of business, monopolising food supply chains… how tasteful!
6 Milton Keynes, Buckinghamshire: “Evelyn de Rothschild, director of the Rothschild Bank and prime mover behind the building of the new Rothschild Bank, London, has been appointed deputy chairman of the Development Corporation for Milton Keynes, New Town.” (Design 1972 Journal)
7 Meiji Station is actually in Tokyo, Japan: Evelyn makes yet another blunder.
8 Displaced from their traditional lands via Agenda 21 neofeudalist policies, one presumes.
9 An opportunity to become corporate worker bees – subsisting in overcrowded, polluted cities?
10 Can Lady Evelyn possibly be any more patronising?
11 View the article below, entitled “J.P. Morgan China conference attracts world’s financial community to Beijing”.
12 Well, your minions Tiny Tim Geithner and Ben Shalom Bernanke sure hoovered trillions of dollars out of the U.S. economy via the Federal Reserve Open Market Committee, to benefit your Anglo-European-Zionist bankster buddies during the 2008 “bailout”: how much more do you vampire-parasites expect to steal from the American people before they stamp you out?
13 Meaning: “It’s such a bother struggling to hold our inbred, parasitic control grid together. Why won’t the ungrateful, unwashed peasants worship us as the supreme gods we self-evidently are? We know what’s best for them: why won’t the damn things cooperate and do our bidding?”
14 Largely because of agricultural cartel price manipulation – along with weather engineering to manufacture artificial droughts, floods, and other extreme weather events that can be exploited financially via insider trading, weather futures fraud, and insurance/reinsurance fraud. Hire technologists/mercenaries; bet on prearranged outcomes; trigger parametric events; count your plunder. “Others are engaging even in an eco- type of terrorism whereby they can alter the climate, set off earthquakes, volcanoes remotely through the use of electromagnetic waves. So there are plenty of ingenious minds out there that are at work finding ways in which they can wreak terror upon other nations. It’s real, and that’s the reason why we have to intensify our efforts.” – U.S. Secretary of Defense William S. Cohen, April 28, 1997
15 RMB = renminbi, Chinese “people’s currency”; in his awkward fashion, Evelyn means to say “from one yuan to two yuan”, i.e. a doubling in price.
16 Not caviar, one presumes; cake, perhaps?
17 Especially when property is over-commodified by hyper-materialistic financiers – all the better to cloak theft in abstraction.
18 “That’s why I hire blackmailers, seducers, extortionists, and thugs (such as the Kray brothers – splendid chaps): to get the Family business done by hook or by crook. The House of Rothschild will not be denied: you will have to submit to our agenda, or burn it down. Your choice.”
19 And who’s more than a little delusional.
20 Among those who have been robbed by financial pirates, perhaps? Tell you what, Evelyn: you keep your “international currency”; we’ll take care of nurturing self-sufficient local communities without the interference of inbred ticks such as yourself. Fair enough? You’re fired: now sod off.
21 Meaning: Myself and my delightful Dynasty, of course!
22 The delightful, charming, and scrupulously honest humanitarian, Lynn Forester de Rothschild, CEO of holding company E.L. Rothschild.
23 The opportunity to swindle or be swindled – to extort or be extorted?
24 Because your farcical colleagues’ fraudulent claims have been repeatedly exposed for their sophistry? No wonder you don’t want to get into the subject, Evelyn: you’ve lost already – and made yourself a bigger laughingstock in the bargain.
25 “Enjoy your chemtrails, peasants!”
26 Complete your thought, Evelyn: “… what might happen to farmers, unless they agree to…”? For example: you, humble farmer, might be extorted via a “weather tax”, payable to “The Powers That Be” protection racket. How do you like those rotten apples?
27 “… because it gives an arrogant arse a second wind.”

Partners in crime: Lynn Forester de Rothschild and Evelyn Robert de Rothschild

Edmund Leopold de Rothschild’s U.N. henchman Maurice Strong, with the Goracle

JPMorgan Chase & Co.’s pet serial liar, Chairman & CEO Jamie Dimon

J.P. Morgan China conference attracts world’s financial community to Beijing

May 31, 2011

Beijing, May 31st, 2011 — J.P. Morgan today announced the opening of its 7th annual China conference in Beijing from June 1st–3rd. The flagship event marks the occasion of the firm’s 90th anniversary in China.

As a testament to the growing international importance of China and its markets, 2,000 delegates from more than 30 countries will participate in this year’s conference. The conference will open with a keynote panel discussing China’s role in the international community, featuring The Rt. Hon. Tony Blair, Mr. Lou Jiwei, Chairman and CEO, China Investment Corporation, Jeffrey Immelt, Chairman & CEO, General Electric Company, and Mark Tucker, Group Executive Chairman & CEO, AIA Group. The three-day event will also feature executives from more than 170 companies and over 100 China experts discussing the issues shaping investment in the country. It will conclude with a keynote address from China Banking Regulatory Commission Chairman, Dr. Liu Mingkang.

Gaby Abdelnour, Chairman and CEO of J.P. Morgan Asia Pacific said, “We are pleased to welcome the world’s financial community to this, our 7th and largest China Conference. This year’s conference also marks the firm’s 90th anniversary in China. We are proud of what we have accomplished over the past 90 years, and even more excited about what’s ahead for the next century.”

Jing Ulrich, Managing Director and Chairman of Global Markets–China, said developments in China are increasingly central to the strategic decisions of investors everywhere. Total assets under management represented by investment firms at this year’s conference amount to US$15 trillion.

“With this in mind, we have taken great care to create a comprehensive program that encompasses the most pertinent issues and changes facing the Chinese economy. As China ascends new heights as an economic and financial power, its leaders are focusing on promoting domestic consumption and developing the country’s resource-rich inland regions. However, China must still grapple with challenges associated with inflation and an uncertain global economic outlook. These and other topical issues will be discussed over the three-day event”, said Ms. Ulrich.

About J.P. Morgan’s China Conference

J.P. Morgan’s China Conference has been held annually in Beijing since 2005 with first-class presentations, exclusive roundtable discussions with CEOs of leading Chinese companies as well as senior government officials. It provides the latest sector insights from J.P. Morgan’s leading analysts, business leaders, think tanks, and independent industry experts. This year’s conference features The Rt. Hon. Tony Blair, Quartet Representative and former Prime Minister of Great Britain and Northern Ireland, Mr. Liu Mingkang, Chairman of the China Banking Regulatory Commission, Mr. Jamie Dimon, Chairman & CEO, JPMorgan Chase & Co., Mr. Lou Jiwei, Chairman & CEO, China Investment Corporation, Mr. Jeffrey R. Immelt, Chairman & CEO, General Electric Company, Mr. Mark Tucker, Group Executive Chairman & CEO, AIA Group, Mr. Luo Jianchuan, President, Chalco, Mr. Ling Wen, President & Executive Director, China Shenhua, Mr. Wang Jiangzhou, Chairman, China Mobile, Mr. Greg Boyce, CEO, Peabody Energy, Mr. Richard Adkerson, CEO, Freeport-McMoRan Copper & Gold, Mr. Donald Lindsay, CEO, Teck Resources, Aaron Regent, President & CEO, Barrick Gold Corporation.

As part of J.P. Morgan’s China Conference, an exclusive weekend retreat will be held after the main conference featuring small roundtable discussions involving CEOs of leading Chinese and multinational companies, renowned Hands-On China experts, and some of the world’s most influential asset managers.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Mr. Tony Blair, Former Prime Minister of UK, and Li Keqiang, Vice Premier of the State Council of the People’s Republic of China

Mr. Tony Blair and Ambassador Yang Wenchang, President of the Chinese People’s Institute of Foreign Affairs

J.P. Morgan China conference attracts world’s financial community to Beijing

E. L. Rothschild invests in China’s ‘weather’
WantChinaTimes
Staff Reporter
2011-06-27

E.L. Rothschild has purchased a 70% stake in Weather Central. Picture: MyWeather.com is a customized weather forecasting website.

E. L. Rothschild, a family investment company, recently spotted a very unusual commodity.

The company acquired a 70 percent stake in U.S.-based Weather Central in January, convinced by the strong growth prospects of selling interactive weather graphics and data services to television, Internet and telecommunications companies.

E. L. Rothschild, which takes its initials from Sir Evelyn de Rothschild and his wife, Lynn Forester de Rothschild, was founded in 2003. It has been investing in the United States, the United Kingdom, Europe, India and South America in the areas of financial services, technology, telecommunications, media, real estate, agriculture and luxury goods.

In an interview with China’s First Financial Daily recently, the couple shared their investment strategy of the past, as well as their future plans.

In the interview, Lynn Forester de Rothschild said the purchase of Weather Central was the company’s latest acquisition.

Weather Central provides real-time reports on weather, traffic and news. It is the only data provider to the China Meteorological Administration and the supplier to every weather channel on the mainland.

She said she had watched the weather news on CCTV at 7:30 p.m. using equipment provided by Weather Central, which, she believed, was the best in the world.

With 400 million people in China watching the weather news, the company has invested in a significant portion of this business in China, including weather channels in 26 provinces.

Furthermore, Weather Central launched MyWeather.com in the United States last month, which, she believed, is the world’s most accurate and personalized digital weather service for customers.

Rothschild said that while her company has mainly collaborated with China’s state-enterprises, it is also discussing agreements with some private-sector businesses on wind energy, adding that the group had unique wind technologies.

She also predicted that China would lead the world in the renewable energy market, adding that she and her husband had visited some alternative energy companies in China.

Asked why the couple, who spent a lot of time studying the investment environment in China and India between 2003 and 2004, later chose India instead of China, Rothschild responded that it was because of the influence of their friend, Sunil Mittal, an India telecom mogul, philanthropist and founder of Bharti Enterprises.

She said having a partner in local markets — in either China or India — was important, adding that Mittal himself was keen to invest in agriculture.

Language also played a role, because India was once a British colony: “We felt it was easier to gain access to the Indian market,” she said.

Of course, a lot of changes have taken place over a decade; and today, China offers immense investment opportunities.

Moreover, she forecast that China’s growth will be unparalleled in the world, and that its future growth will surpass that of India.


January 31, 2011

E.L. Rothschild LLC Acquires a Majority Stake in Weather Central, LP

Sir Evelyn and Lynn Forester de Rothschild’s Firm Sees Opportunity for Growth in Multi-Platform Weather Solutions Company

NEW YORK–(BUSINESS WIRE)–E.L. Rothschild LLC, a private investment company led by Chairman Sir Evelyn de Rothschild and CEO Lynn Forester de Rothschild, today announced the signing of a definitive agreement to acquire a 70% interest in Weather Central, LP (www.wxc.com). The world’s leading provider of interactive weather graphics and data services for television, web, and mobile, Weather Central’s highly accurate and personalized forecasting offers businesses and consumers a truly unique suite of science-driven weather information products. The company will continue to operate under CEO and founder, Terry Kelly, as well as current management. Financial terms of the acquisition were not disclosed.

Founded in 1974, Weather Central is a global provider of professional on‐air, online, print, mobile, and enterprise weather solutions and forecasting. With 180 employees, including 70 meteorologists, Weather Central provides dynamic weather graphic systems, proprietary forecast models, and dedication to high-quality customer service. Weather Central has secured a leading 46% market share of North America’s weather information delivery market for broadcast and media delivering content to hundreds of millions of viewers. It is the largest provider of broadcast and interactive web weather solutions for media companies in the U.S., Canada, and Mexico. Weather Central has more than 400 broadcast television clients in 21 countries worldwide. It provides weather forecasts to millions of users daily by distributing real-time personalized forecasts, interactive maps, and storm warnings based on each user’s exact address.

Well-known for its advanced technologies, the company pioneered weather computer graphics systems worldwide and continues to innovate, recently releasing the industry’s first 1km high-resolution forecast data set available on-air, online, and for mobile devices. Weather Central has used its hallmark scientific approach to secure customers that include network-owned and operated television stations, independent television stations, newspapers, websites, and individual businesses and consumers. From its headquarters in Madison, Wisconsin and its regional offices in Hong Kong, Beijing, and Berlin, the company’s systems provide weather to hundreds of millions of viewers through customer installations worldwide, including those in the U.K., Canada, Spain, Brazil, Mexico, and other countries. Weather Central is also the primary provider of weather technology and delivery to broadcast stations in China.

Beyond its core North American and international media operations, Weather Central is also expanding its business for the enterprise, consumer, and mobile markets. The company’s offerings for the B2B segment include precise weather products and solutions for a broad base of customers, including insurance, commodities and energy companies, hedge funds, and governments. Weather Central has also developed an extensive suite of consumer-facing digital products that will launch across online and mobile platforms as part of the company’s MyWeather® brand in the next few months.

CEO of E.L. Rothschild LLC, Lynn Forester de Rothschild, commented on the acquisition, saying: “Weather Central is a world-class company that is number one in its category, with a history of success, a talented team, and a very bright future. Their products, which are the world’s most precise for broadcast, online and mobile forecasting, allow companies and individuals unparalleled insights. Whether designed for an insurance company wanting to alert its customers of an impending hailstorm, a hedge fund trying to monitor agricultural commodities, or a consumer planning a vacation, no one has better information than Weather Central. At E.L. Rothschild, we will use our resources, business experience, and industry insights to build upon Weather Central’s current success, and to develop the company’s escalating international profile in markets like Latin America and India. We will also be focused on enhancing Weather Central’s position as a digital leader in the consumer space.”

Chairman of E.L. Rothschild LLC, Sir Evelyn de Rothschild, added: “As a family, the Rothschilds have always been dedicated to the utmost quality of our products and services. With respect to our investments, we focus on entering into long-term partnerships with people who share our values. As weather becomes more extreme around the planet, with greater human and financial ramifications, we believe that Weather Central will play a major role in mitigating damage and improving lives. This is important to the Rothschilds, as it is to Weather Central. We are proud of our new partnership with them.”

Terry Kelly, Weather Central’s founder and CEO, stated: “Much has changed since we launched Weather Central more than 35 years ago, but our core passion for innovation, customer service, excellence, and vision is stronger than ever. The world today is facing major weather shifts due to climate change, and with an increasingly mobile population, the ability for consumers to obtain highly accurate and personalized information about the weather is more important than ever. With our scientific knowledge and technological edge, we’ve established a business that is top-ranked in the broadcast market. With E.L. Rothschild, the sky is the limit for Weather Central as we look to expand our success internationally and prepare to launch exciting new digital offerings for consumers.”

ABOUT E.L. ROTHSCHILD LLC

E.L. Rothschild LLC is a privately funded family investment company, which was established in 2003 by Sir Evelyn de Rothschild and Lynn Forester de Rothschild to oversee a variety of the Rothschilds’ global investments. The principals have extensive experience investing in and operating businesses in the United States, United Kingdom, Europe, India and South America. E.L. Rothschild LLC employs the strategy of taking a long-term view toward partnership and value creation. The company currently has interests in media, real estate, agriculture and luxury goods, with significant previous positions in financial services, technology and communications.

ABOUT WEATHER CENTRAL, LP

Weather Central, LP was founded in 1974 by Terry Kelly. The company today has an outstanding team of meteorologists, scientists, industry specialists, and creative staff. Based in Madison, Wisconsin, the company is a leading provider of professional on-air, online, print, mobile, and enterprise weather solutions and forecasting in North America and to major customers worldwide. Utilizing the company’s dynamic weather graphics, proprietary precise forecast models and data, and patented technology, more than 1,000 partners and hundreds of millions of consumers worldwide benefit from Weather Central’s attention to superb weather presentation, forecast accuracy and personalization, and continuous customer support.

Photos/Multimedia Gallery Available:
E.L. Rothschild LLC Acquires a Majority Stake in Weather Central, LP (Photo)

E.L. Rothschild LLC Acquires a Majority Stake in Weather Central, LP


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Further resources:

October 2008: ‘Testing Times’ for Financiers – BBC Interviews Evelyn de Rothschild – Ethics in the Financial World? – Failures of Leadership

Edmund de Rothschild – World Wilderness Congress – The Global Environment Facility (GEF) – ‘Owning’ 30% Of The Earth – CO2 Is Now a Commodity

British Imperium – Racism – Exhaling CO2 as death warrant – Moving to the Carbon Economy – Global Lilliputians

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Wikileaks: Rothschild Operation – Swiss Banking Rivals – A Bankers’ Turf War – Trademarks of a Covert Operation – Worth of One Family: $100 Trillion

Source: Puppetworld Post

Wikileaks Is A Rothschild Operation: Rothschilds Use Wikileaks To Wound Rival Bank, Julian Assange’s Bail Posted By Rothschilds’ Sister-in-law, Many Other Links

Puppetworld Post Exclusive
Jan 18 2011

After being made famous, Julian Assange’s first task is to wound a rival bank of the Rothschild Bank in Switzerland. The rival is Bank Julius Baer, the top Swiss bank for centuries: the competing Rothschild Bank opened in Switzerland in 1968.

On January 17, 2011, Assange held a press conference at the Frontline Club where Rudolf Elmer, a former employee of Bank Julius Baer, gave Assange private files from the bank’s Cayman Islands’ operation. Elmer said he wanted to expose mass tax evasion before he flies back to Switzerland to stand trial for stealing information from a bank. Although Elmer has not named the tax evaders, he claims the CD files contain information about 40 politicians, many business people, multinational conglomerates and “people who have made their living in the arts.”

Wikileaks’ leader Julian Assange accepts a CD from Rudolph Elmer which reveals tax evasion by wealthy clients of Swiss Bank Julius Baer, a rival of the Rothschild Bank in Switzerland.

Rothschilds’ Swiss Bank Battles: Assange’s press conference was actually a public threat to Bank Julius Baer: Wikileaks first disclosed some of Elmer’s Julius Baer material in 2008, naming ten clients. At the time, Julius Baer sued and got a court injunction to effectively shut down Wikileaks.org at its web host in California. Subsequently, the law firm Fox Rothschild represented Wikileaks, got the injunction overturned, and got Wikileaks.org back online. Immediately, WL commenced leaking more of Elmer’s documents, which was damaging to Bank Julius Baer.

Bank JB got a lot of negative publicity from its attempt to censor the Internet. When JB lost the suit, their super-elite clients became fearful of being exposed and prosecuted for tax evasion and money laundering. Julius Baer shares dropped 60% during the next ten months. On Dec. 4, 2008, the 52-year-old CEO of Julius Baer, Alex Widmer, was unexpectedly found dead.

“He was the most important person in private banking,” said a Zurich-based trader.

“This is a setback for the bank (Julius Baer),” a Swiss trading analyst said.

Reports of the cause of death were contradictory and vague, and an autopsy was never released.

Wikileaks’ Julian Assange filming a video for The Economist (a Rothschild publication) which gave him its New Media Award

Wikileaks’ many other links to Rothschilds

The recent imprisonment of Wikileaks’ Julian Assange strains credulity. His arrest by Interpol and his incarceration under draconian conditions for breaking a condom are in themselves highly unlikely events; but the timing of his imprisonment with the release of classified US cables and the campaign against Wikileaks’ funding and website host bear the trademarks of a covert operation.

The Puppetworld Post has uncovered many links between Wikileaks and the international Rothschild network:

– a sister-in-law and second cousin of the Rothschilds posted bail for Julian Assange (Puppetworld Post exclusive)
– The Economist (a Rothschild magazine) gave Assange its New Media Award in 2008
– Wikileaks used the law firm Fox Rothschild to overturn a judge’s ruling to order a web host to shut down the Wikileaks site
– The Guardian and The New York Times, two of Assange’s media partners, are linked to the Rothschilds (PwP exclusive)
– the owner of the mansion where Assange was eventually put under house arrest has links to Rothschilds
– Assange’s lawyer is also Rothschilds’ lawyer
– US Senator Joe Lieberman, who was ultimately responsible for making Assange the largest media personality of the decade, is a member of the Council on Foreign Relations (a Rothschild organization)

[The Rothschilds are an international family of bankers at the centre of a web of wealthy families who control most of the countries through a worldwide network of: privately-owned central banks (masquerading as federal banks), major news chains, trusts, councils, etcetera. An unnamed source has put their monetary worth near $100 trillion—dwarfing the net worth of the likes of Warren Buffett, Bill Gates, Ted Turner, etc.]

Zac Goldsmith (married to Kate Rothschild) winning the election with sister, Jemima Khan (nee Goldsmith)(right), and mother, Annabel Goldsmith

Socialite, heiress Jemima Khan (nee Goldsmith) posted 20 000 pounds ($32 000) for the bail of Wikileaks’ leader Julian Assange. She’s genetically related to the Rothschilds and she is a sister-in-law (Daily Mail Online, 10 May 2010). Her father, the late James Goldsmith – British banker, publisher – is a cousin to the Rothschilds. James’ grandfather Adolphe Goldschmidt came to London as a multi-millionaire in 1895 and changed the family name from the German Goldschmidt to the English Goldsmith. The Goldschmidts, like their neighbors and relatives the Rothschilds, had been prosperous merchant bankers in Frankfurt, Germany since the 16th century.

Following the Rothschilds’ centuries-old edict to interbreed, Jemima Khan’s brother, Ben, wed Kate Rothschild in 2003; and recently, her other brother, Zac, a new MP in the British parliament, had been having an affair with his brother’s sister-in-law, Alice Rothschild (Kate’s sister), up until he divorced his wife four days after he was elected MP. Zac and Alice are presently living together. Khan’s brothers are marrying into Rothschild wealth.

The Rothschilds began grooming Julian Assange in 2008, when Wikileaks was awarded The Economist’s New Media Award. The Economist is the voice of Britain’s establishment (led by the British Rothschilds) which has, for example, on balance, supported Britain’s involvement in the Iraq war. Sir Evelyn Robert Adrian de Rothschild was chairman of The Economist from 1972 to 1989. His wife Lynn Forester de Rothschild currently sits on The Economist’s board. The Rothschild family also has a large shareholder interest in The Economist.

At first blush, it is incredible that the The Economist, the pinnacle of the establishment, would give their award to Assange – knowing full well that he was releasing classified government documents, and being acutely aware of the havoc this would create in the world. The Rothschilds’ oft-stated goal (over the centuries) is for a One World Government (i.e. the New World Order). To this end, they engineer conflict between nations, to create crises that will then be utilized to increase the power of international entities – the UN, World Bank, IMF, etcetera. For example, they (and other closely-related families like the Schiffs) financed the Bolsheviks [and, through other channels, financed the Nazis]. In the past, the Rothschild empire has profited by bankrolling both sides of war.

US senator Joe Lieberman is the Rothschilds’ point man in America. During the last presidential election, he took his friend, Republican candidate John McCain, to Jacob Rothschild’s house for a fund-raiser for McCain. Lieberman is a member of the Council on Foreign Relations (a Rothschild cabal which is essentially the shadow government of the US). Lieberman’s recent actions resulted in cutting off the money supply of Wikileaks: Paypal, Mastercard, Visa, stopped accepting donations for Wikileaks. Lieberman publicly took credit for censoring Wikileaks’ website by pressuring Amazon to stop hosting the website. The result was that Anonymous hacktivists launched attacks on the websites of companies (above) which had discontinued service to Wikileaks. Lieberman’s campaign against Wikileaks had the effect of increasing the martyrdom and hence the popularity of Assange and Wikileaks. Lieberman made Assange a star; Assange nearly became Time magazine’s Man of the Year.

Julian Assange’s lawyer is Mark Stephens of Finers Stephens Innocent, a major London elite law firm. They are the legal adviser to the Rothschilds’ prestigious Waddesdon Trust.

Assange’s main media partner is The Guardian. The Guardian has been infiltrated by Rothschilds. The Guardian is controlled by Guardian Media Group, whose chairman is Paul Myners, a past employee of N M Rothschild & Sons Limited. Guardian Media Group is owned by the Scott Trust, which became a limited private company in 2008, with all trustees becoming directors of the Scott Trust. Anthony Salz was appointed as a trustee of the Scott Trust in 2009; he is currently executive vice-chairman of the investment bank Rothschild.

The Guardian gave the US cables to The New York Times. The chairman of the NYT is Arthur Sulzberger Jr., a member of the Council on Foreign Relations. He is the son of Arthur Ochs Sulzberger and grandson of Arthur Hays Sulzberger who served as a Trustee for the Rockefeller Foundation (in cahoots with Rothschilds for One World Government).

After a time in a real prison, Assange was “imprisoned” in a countryside mansion at the home of Vaughan Smith, the owner of Frontline Trust, a news organization that seeks to influence TV journalists. Frontline is funded by George Soros’ organization, Open Society Institute, and George Soros is intimately intertwined with the Rothschilds. George Soros has been a frequent business partner with James Goldsmith (father of Jemima Khan and cousin of the Rothschilds). The director of Soros’ Open Society Institute, Richard Katz, was director of N M Rothschild & Sons for 16 years. Other board members like Nils Taube also hold positions in Rothschild banks, etcetera. On July 27, 2010, and again on October 25, 2010, Assange was a speaker at Vaughan Smith’s Frontline Trust.

Most people seem to believe that current events just happen, that events in the news are chain reactions of accidents, and that people with money and power sit idly by, watching events unfold. However, the Rothschilds thrive on manipulating the markets by having insider information while propagating contrary misinformation. In this way, they make huge profits. Assange has already said that damaging information on one US bank will be released. In this fragile recovery, the crisis could be pivotal. The Guardian and The New York Times have this information; so it is available to Rothschilds in order to “short” the bank before the information is released. Wikileaks is an invaluable tool for the Rothschilds to manipulate the financial markets, the whole monetary system, the future of nations, and the public.

The information (or misinformation) from Wikileaks also serves the Rothschilds’ aim to increase conflict among nations in order to further their goal of One World Government.

http://www.puppet99.com/?p=1
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Further reading:

Egypt and Tunisia: NGO ‘Soft War’ – Islamic Banks Competing Against Western Banks – Motive: Follow the Money – Islamic Law

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Egypt and Tunisia: NGO ‘Soft War’ – Islamic Banks Competing Against Western Banks – Motive: Follow the Money – Islamic Law

Source: Puppetworld Post

Rothschilds Stage Revolutions in Tunisia and Egypt to Kill Islamic Banks in Emerging North African Markets

Background: Tunisia has undergone increasing economic liberalization over the last decade: In the 2010-2011 World Economic Forum’s Global Competitiveness Report, it was ranked as the most competitive country in Africa, as well as the 32nd most economically competitive country globally. North Africa’s large Muslim populations are a vast business opportunity for Islamic banking and other businesses.

Jacob Rothschild, senior member of the British branch of the Rothschild dynasty

Contrary to popular belief, the world’s finances are controlled by privately-owned “central banks” masquerading as federal government banks in nearly every country (except three) in the world (http://www.businessinsider.com/is-america-really-free-if-a-privately-owned-central-bank-controls-our-currency-and-runs-our-economy-2010-7). [The U.S. Court of Appeals, Ninth Circuit, ruled that the Federal Reserve (U.S. central bank) was privately owned in 680 F.2d 1239, LEWIS v. UNITED STATES of America, No. 80-5905.]

Though it is a carefully guarded secret, the Rothschilds and their associates own most of the shares in the central banks (Eustace Mullins: Secrets of the Federal Reserve, 1983, pp. 47-48) (Federal Reserve Directors: A Study of Corporate and Banking Influence, Committee on Banking, Currency and Housing, House of Representatives, 1976, Charts 1-5) (Louis McFadden, U.S. Congressman in the 1930s and Chairman of the Banking and Currency Committee for 10 years). With extremely little government input, the economies of Tunisia, Egypt, Yemen, Jordan, and Algeria are strictly controlled by the Rothschilds’ central banks and their International Monetary Fund.
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THE MOTIVE: FOLLOW THE MONEY

Islamic banks have been eating into Rothschild profits in the Middle East because: they don’t charge interest (Shariah Law), they are growing very rapidly among the world’s exploding Muslim populations, and (in these catastrophic economic times) they are more stable than western banks.

While it is a very good thing that people are freed from the tyranny of dictators, they also need to be freed from the tyranny of economic serfdom. The relevant moral question is: Do the means justify the end?

Ben Ali’s son-in-law El Materi at the opening of his Zitouna Bank, North Africa’s first Islamic bank, last May

Deposed Tunisian President Ben Ali’s son-in-law, Sakher El Materi, opened Tunisia’s first Islamic bank, Zitouna Bank, on May 26, 2010. Zitouna Bank is the first Islamic bank in the Maghreb region [North Africa]. The bank was a first step toward Ben Ali’s new program of extensive reforms, “Tunisia, a Pole for Banking Services and a Regional Financial Centre”, which would have undermined the power and the profits of the Central Bank of Tunisia (privately-owned by the Rothschilds and their associates).

Tunis Financial Harbour opened last October 19. It’s the first offshore finance centre in North Africa.

The Telegraph (Oct. 19, 2010) reported on the opening of the megaproject Tunis Financial Harbour – President Ben Ali’s bid to make Tunisia the regional financial centre of North Africa and beyond: “Islamic investment bank Gulf Finance House (GFH) and the Tunisian government have created the first offshore finance centre in North Africa. The centre will be part of Tunis Financial Harbour, a $3 billion waterfront development in Tunis…. GFH, which is based in Bahrain, hopes the centre will allow Tunisia to take advantage of its strategic position on the Mediterranean Sea, and operate as a bridge between the EU and the rapidly growing economies of North Africa [and sub-Saharan Africa].”

Executive Magazine (June, 2008) reported: “Despite the current poor climate, the potential for Islamic banking in Egypt is huge, and one should expect more moves from Abu Dhabi Islamic Bank into Egypt, possibly in the form of a buyout. A recent Middle East Business Intelligence report said it best, when it opined, “If Abu Dhabi Islamic Bank can make a success of offering Islamic products, the whole market will open up. We have already seen some of the local banks start to advertise their Islamic products in view of the competition for customers they see about to begin. Clearly, Islamic banks in the Gulf are already anticipating the day when their home markets are saturated. And it appears that Egypt will be on the next front-line in the development of regional Islamic banking and finance.”

In 2008, International Financing Review (Reuters) reported: “African countries such as Algeria, Egypt, Libya, Morocco, Tunisia and Sudan are keen on future sukuk exercises [issuing Islamic bonds]. Gambia debuted with a US$166m sukuk deal, privately sold in the US in 2006.”

The New York Times article “Islamic banking rises on oil wealth, drawing non-Muslims” (Nov. 22, 2007) reported: “Rising oil wealth is lifting Islamic banking – which adheres to the laws of the Koran and its prohibition against charging interest – into the financial mainstream…. In addition to Islamic loans, there are Islamic bonds, Islamic credit cards…. Loans and bonds that conform to the Koran are already available in the United States….

“’This is an industry on its way from a niche industry to becoming a truly global industry,’ said Khawaja Mohammad Salman Younis, the managing director for operations in Malaysia for Kuwait Finance House, the world’s second-largest Islamic bank…. ‘In the next three to five years you’ll see Islamic banks coming out in Australia, China, Japan and other parts of the world.’

“In Islamic banking, financiers are required to share borrowers’ risks, meaning that depositors are treated more like shareholders, earning a portion of profits. Financing deals resemble lease-to-own arrangements, layaway plans, joint purchase and sale agreements, or partnerships.

“The stampede into Islamic finance is mostly an effort to tap an estimated $1.5 trillion of funds sloshing around the Middle East, largely from higher oil prices…. Those investments have helped ignite an economic revival throughout the Muslim world at a time of increasing religious conservatism among Islam’s 1.6 billion faithful. A result is expanding demand for financial services that adhere to Islamic law….

“And while the biggest Islamic banks are in the wealthy Gulf states, the most attractive potential markets are in Turkey and North Africa (emphasis added) and among European Muslims….

“Even non-Muslims are taking advantage of a growing range of Islamic products offering competitive returns. For instance, David Ong-Yeoh, a public relations executive tired of fretting over the rising interest rate on his adjustable rate mortgage, refinanced to a 30-year fixed loan from an Islamic financial institution. Now, he pays regular installments that include a predetermined profit margin for the bank. ‘The terms are better than on conventional loans,’ said Ong-Yeoh, 41.

“Islamic finance also avoids other prohibited practices. Shariah-compliant bankers cannot receive or provide funds for anything involving alcohol, gambling, pornography, tobacco, weapons or pork. Proponents of Islamic banking say these are limits any socially conscious investor can support, Muslim or not. They also envision wider appeal for Islamic banking’s ban on interest, which stems from the Koran’s prohibition against usury.

“This is a view that has a long religious and historical tradition. Interest is repeatedly condemned in the Bible. Aristotle denounced it, the Romans limited it, and the early Christian church prohibited it….

“The belief that all interest charges are unjust now underpins Islamic finance…. Hoarding is frowned upon in the Koran, so savings earn no return unless put to productive use.

“’Money should be used for creating better value in the country or the economy,’ Maraj said. ‘Money cannot generate money.’

“Nor can Islamic banks simply trade money. ‘In the Islamic finance model, the banks are supposed to mobilize funds through a fund management concept,’ said Rafe Haneef, head of Islamic banking in Asia for Citigroup.

“Indeed, Islamic banking is supposed to function more like private equity firms than conventional banking. ‘Private equity is an Islamic concept,’ Haneef said.

“Industry proponents say this risk-sharing requirement helps reduce the kind of abuses that led to the subprime mortgage mess in the United States. Scholars consider it un-Islamic to overload a customer with debt or invest in a company with excessive debt.”

The Washington Post article “Islamic Banking: Steady in Shaky Times” (Oct. 31, 2008) reported: “As big Western financial institutions have teetered one after the other in the crisis of recent weeks, another financial sector is gaining new confidence: Islamic banking. Proponents of the ancient practice, which looks to sharia law for guidance and bans interest and trading in debt, have been promoting Islamic finance as a cure for the global financial meltdown.

“This week, Kuwait’s commerce minister, Ahmad Baqer, was quoted as saying that the global crisis will prompt more countries to use Islamic principles in running their economies. U.S. Deputy Treasury Secretary Robert M. Kimmitt, visiting Jiddah, said experts at his agency have been learning the features of Islamic banking.

“Though the trillion-dollar Islamic banking industry faces challenges with the slump in real estate and stock prices, advocates say the system has built-in protection from the kind of runaway collapse that has afflicted so many institutions. For one thing, the use of financial instruments such as derivatives, blamed for the downfall of banking, insurance and investment giants, is banned. So is excessive risk-taking.

“’The beauty of Islamic banking and the reason it can be used as a replacement for the current market is that you only promise what you own [contrast to western banks’ fractional reserve system]. Islamic banks are not protected if the economy goes down – they suffer – but you don’t lose your shirt,’ said Majed al-Refaie, who heads Bahrain-based Unicorn Investment Bank.

“The theological underpinning of Islamic banking is scripture that declares that collection of interest is a form of usury, which is banned in Islam. In the modern world, that translates into an attitude toward money that is different from that found in the West: Money cannot just sit and generate more money. To grow, it must be invested in productive enterprises.

“’In Islamic finance you cannot make money out of thin air,’ said Amr al-Faisal, a board member of Dar al-Mal al-Islami, a holding company that owns several Islamic banks and financial institutions. ‘Our dealings have to be tied to actual economic activity, like an asset or a service. You cannot make money off of money. You have to have a building that was actually purchased, a service actually rendered, or a good that was actually sold.’

“Islamic bankers describe depositors as akin to partners – their money is invested, and they share in the profits or, theoretically, the losses that result. (In interviews, bankers couldn’t recall a case in which depositors actually lost money; this shows that banks put such funds only in very low-risk investments, they said.)”

It is easy to see why the Rothschilds and their network of conventional western banks would be threatened by competition from the more appealing, more conservative Islamic banks.

Late in 2008, French Finance Minister Christine Lagarde announced France’s intention to make Paris “the capital of Islamic finance” and said several Islamic banks would open branches in the French capital in 2009. French sources estimate this area of the financial market is worth from 500 to 600 billion dollars and could grow by an average 11 percent a year.

John Sandwick, managing director of Swiss asset management firm Encore Management, characterized the opening of several Swiss Islamic banks as, “the race to control the rich prize: which today is worth hundreds of billions, but in the future will be trillions of dollars of Islamic wealth.”

iStockAnalyst (Feb. 8, 2011) reported: “According to Standard and Poor’s, Islamic banking assets reached about $400 billion throughout the world in 2009. In November 2010, The Banker published its latest authoritative list of the Top 500 Islamic Finance Institutions, with Iran topping the list. Seven out of ten top Islamic banks in the world are Iranian according to the list.”

BEN ALI’S SON OPENS FIRST ISLAMIC BANK IN ATTRACTIVE NORTH AFRICAN MARKET

Commenting on the opening of Zitouna [Islamic] Bank, International Business Times (May 28, 2010) reported, “North Africa has begun to embrace Islamic finance after years watching from the sidelines, partly to channel more Arab Gulf petrodollars into the region…. Tunisia has one of the most open economies in the region and attracts substantial investment from the European Union, something that is expected to accelerate after 2014, when the government has said it will make the currency [the Tunisian dinar] fully convertible.”

Global Islamic Finance News (May 31, 2010) reported, “Zitouna Bank also seeks to impart a regional dimension on its activities, particularly in the Maghreb region [North Africa], all the more so that it is the first specialised bank not belonging to a foreign banking group,” and went on to add, “The Bank will also seek to forge strong relations with the Maghreb and Mediterranean banks to ensure needed flow of financial operations for its customers. The bank officials stressed that the financial institution has established relations with 12 Islamic banks in collaboration with the Institute of Islamic banks in Bahrain.”

Zitouna Bank’s formation had been announced earlier in the Official Gazette of the Republic of Tunisia on September 10, 2009. Tunisia and Morocco authorized Islamic finance in 2007, partly to channel more investment into their fast-growing tourism and real estate industries.

Due to his being the son-in-law of President Ben Ali, El Materi’s Zitouna Bank was expanding in Tunisia to the level of monopoly. El Materi had built a powerful business empire: he ran businesses in news and media, banking and financial services, automotive, shipping; and he bought a 50% stake in Orascom Telecom for $1.2 billion.

The newly-opened Tunis Financial Harbour was on the brink of becoming the regional financial centre of North Africa and, with its strategic position on the Mediterranean Sea, becoming a bridge between the EU and the rapidly growing economies of North Africa and sub-Saharan Africa.

On January 20, 2011, Zitouna Bank, Tunisia’s first Islamic bank, was seized by the Central Bank of Tunisia (Rothschilds). The bank, owned by Sakher El Materi, the thirty-year-old son-in-law of deposed Tunisian leader Zine El Abidine Ben Ali, has been placed under “the control” of the central bank. Materi is presently in Dubai. The move came a day after 33 of Ben Ali’s clan were arrested for crimes against the nation. State television showed what it said was seized gold and jewellery. Switzerland has also frozen Ben Ali’s family assets.

EGYPT’S ISLAMIC BANKS THREATENED BY ROTHSCHILD REVOLUTION: OLD MAN POTTER VS. HARRY BAILEY

A still from the film It’s A Wonderful Life

The following scenario is right out of the Frank Capra film It’s A Wonderful Life (1946), with Old Man Potter (Rothschild) creating a run on Harry Bailey’s traditional Savings and Loans (Islamic bank):

Islamic (halal) banking products have not made significant inroads in North Africa yet, except in Egypt. “There are several Islamic banks operating in Egypt: Faisal Islamic Bank, Al Baraka Egypt (Al Ahram Bank) and Abu Dhabi Islamic Bank NBD…. There may be others as well,” says Blake Goud, an expert on Islamic Finance (The Review – Middle East, Jan. 31, 2011), “… and the risks of a run on the bank should concern those interested in Islamic banking around the world because it could provide a test of how resilient Islamic banks really are to crisis.

“What I mean is that the Egyptian situation, which could be a fantastic opportunity for the Egyptian people, could expose a weakness within the Islamic banking industry if it is problematic. The main risk to any bank is that there is a run and the bank cannot meet depositor withdrawals with the cash available on hand. This forces the bank to raise cash from other means. In most cases, it can get an inter-bank loan from another bank overnight that allows it to handle withdrawals. If other banks are hesitant to lend to a given bank because of fears of asset quality, then the bank will usually have access to an overnight borrowing facility with the central bank, which operates as the lender of last resort.

“The key for Islamic banks is that they are not able to take advantage of the inter-bank lending market, nor are they able to borrow from (or lend to) the central bank (emphasis added) because those loans are interest-bearing. The only alternative is to find other banks (mostly Islamic banks) willing to extend Shari’ah-compliant, bilateral loans often using commodity murabaha. In a country like Egypt where the Islamic banking industry is a small portion of the total banking system, it does not create a systemic risk if Islamic banks fail, but it does matter a lot to the depositors of other Islamic banks in the country and globally. If there is the potential that a run on an Islamic bank will not be stopped by someone – whether that is a foreign bank, a multilateral bank like the Islamic Development Bank, or the central bank of Egypt (through emergency measures) – then it could hurt confidence in Islamic banks.

“If neither of these options is available, the bank will have to try to raise funds by selling its assets, most of which (loans) are illiquid in the short run. It will have to take a loss on the sale to realize the cash it needs to meet withdrawals. If this continues and the bank sells enough assets at a discount to the value they are held on the balance sheet, the bank’s equity will be negative (the value of assets minus liabilities) and it will become insolvent (having earlier only been illiquid). This is the fundamental danger in banking from a financial stability perspective. If enough banks face runs and have to sell assets, the run could become self-sustaining and contagious. Even a healthy bank facing a run can become insolvent.

“The loss of confidence is more than just a reputational hit and a hit on the egos of Islamic bankers. It would make it more difficult for Islamic banks to attract and retain depositors, and it could raise the cost at which they can attract depositors. This would make these banks, all other things equal, less profitable (they make profit off the spread between the return on invested funds and the cost of funds borrowed from depositors). Lower profitability will lower the attractiveness of Islamic banks to equity investors, limiting their ability to increase capital through equity offerings (or at least increasing the dilution to current shareholders). It will lower the amount available to supplement capital as well as pay dividends to its shareholders.

“Therefore, it is important that the Islamic banks in Egypt make it through the ‘run’ that is predicted, if it materializes: not just for those banks’ shareholders, but also for the Islamic banking industry.”

In contrast, Bloomberg reports, “Egypt’s banks may risk a surge in customer withdrawals when they open for business, placing them among companies worst hit by the nationwide uprising against President Hosni Mubarak…. Central Bank Governor Farouk El-Okdah said in a telephone interview Jan. 29 that his bank has $36 billion in reserves, enough to accommodate investors should they wish to withdraw funds. His deputy, Hisham Ramez, said interbank lending ‘will function properly’ when banks are reopened. He said the security situation will determine when that is possible.

“Asked about the risk of a bank run, Mohamed Barakat, chairman of state-run Banque Misr and head of the country’s banking association, said in a telephone interview that Egyptian lenders are ‘very liquid,’ with average loan-to-deposit ratios of 53 percent. […] The Egyptian interbank offered rate, the rate banks charge to lend to each other, is at a 16-month high of 8.5 percent.”

THE MEANS: SPONSOR PRO-DEMOCRACY ACTIVISTS

These Rothschild revolutions are done under the pretense of bringing democracy and deposing despots; but the real aim is to initially create chaos and a leadership vacuum, then quickly offer a solution: install a puppet that will do the economic bidding of the Rothschilds. The citizens gain freedom of speech and association, but become economic serfs.

These revolutions are most likely coordinated at the highest levels by the Rothschilds’ International Crisis Group. Mohamed ElBaradei is already being touted as a new leader for Egypt. ElBaradei is a trustee of the International Crisis Group. Another board member of this group is Zbigniew Brzezinski. George Soros sits on the executive committee. The latter two are ubiquitous frontmen for the Rothschilds.

The revolutions are from the same playbook as the fairly nonviolent “colour revolutions”. These revolutions include Serbia’s Bulldozer Revolution (2000), Georgia’s Rose Revolution (2003), Ukraine’s Orange Revolution (2004), Lebanon’s Cedar Revolution (2005) and – though more violent than the previous ones – Kyrgyzstan’s Tulip Revolution (2005) and Tunisia’s Jasmine Revolution. Iran’s Green Revolution (2009) was unsuccessful.

Liberal billionaire George Soros funded training of activists in North Africa.

The Guardian reported (Nov. 26, 2004) that the following were “directly involved” in organizing the colour revolutions: George Soros’ Open Society Foundation, the National Endowment for Democracy (NED), the International Republican Institute, and Freedom House. The Washington Post and The New York Times also reported substantial Western involvement in some of these events.

Activists from Otpor in Serbia have said that publications and training they received from the US-based Albert Einstein Institution staff have been instrumental in the formation of their strategies. The Albert Einstein Institution is funded by the Soros Foundation and NED.

In the article, “Georgia revolt carried mark of Soros” (Nov. 26, 2003), The Globe and Mail reported, “[Soros’ Open Society Institute] sent a 31-year-old Tbilisi activist named Giga Bokeria to Serbia to meet with members of the Otpor (Resistance) movement and learn how they used street demonstrations to topple dictator Slobodan Milosevic. Then, in the summer, Mr. Soros’s foundation paid for a return trip to Georgia by Otpor activists, who ran three-day courses teaching more than 1,000 students how to stage a peaceful revolution.”

Egyptian activists wearing Otpor shirts. Otpor was started by Soros in Serbia and has trained activists in other colour revolutions.

Several protest organizers on the streets in Egypt last week were wearing Otpor t-shirts. These t-shirts are given out by Otpor at training sessions. This is only to say that there may be a link here, between Soros and Tunisian protesters.

In 2007-08, Freedom House [funded by Soros and the Middle Eastern Partnership Initiative (MEPI)] ran the following program: “New Generation of Advocates, a MEPI-funded program that supports young civil society activists working for peaceful political change in the Middle East and North Africa, spearheaded the “Lawyers Against Corruption” campaign in Tunisia.” (Freedom House website). The group of “journalists, lawyers, and other activists who advocate for democratic reform” had a meeting with then Secretary of State Condoleezza Rice, on a trip to Washington on International Human Rights Day, December 10, 2008. In May 2009, U.S. Secretary of State Hillary Clinton met with the group of activist/dissidents. Freedom House reported on their website that the group also visited “U.S. government officials, members of Congress, media outlets and think tanks…. After returning to Egypt, the fellows received small grants to implement innovative initiatives such as advocating for political reform through Facebook and SMS messaging.” (emphasis added)

And also from the Freedom House website: “From February 27 to March 13 [2010], Freedom House hosted 11 bloggers from the Middle East and North Africa for a two-week Advanced New Media Study Tour in Washington, D.C.”

In 2010, Soros’ Open Society Institute funded a grant called ‘Can It Tweet Its Way to Democracy? The Promise of Participatory Media in Africa’, described on the OSI website: “Ethiopia and Egypt have been the current focus of the research programme; the OSI funding will allow the project to be expanded to include: Uganda, Zimbabwe, Tunisia, Eritrea and Rwanda…. It is hoped that it will contribute to the understanding of the new media in Africa and its links to democratization. It is also intended that the study will be used as a source material for future research.”

Facebook and Twitter were the primary means of organizing the revolution in Egypt: “Activists from Egypt’s Kifaya (Enough) movement – a coalition of government opponents – and the 6th of April Youth Movement organized the protests on Facebook and Twitter.” (Voice of America)

In Foreign Policy Journal, Dr. D.K. Bolton (Jan. 19, 2011) writes, “NED [National Endowment for Democracy] and Soros work in tandem, targeting the same regimes and using the same methods…. At least ten of the twenty-two directors of NED are also members of the plutocratic think tank, the Council on Foreign Relations.” (The Council on Foreign Relations is the American sister of the Rothschilds’ Royal Institute of International Affairs in Britain: both are instruments of plutocratic control hiding in plain sight.)

The following is a partial list of grants from the NED website for 2009 (the latest year available):

In Tunisia the focus was on training youth activists:

Al-Jahedh Forum for Free Thought (AJFFT) $131,000 To strengthen the capacity and build a democratic culture among Tunisian youth activists.

Mohamed Ali Center for Research, Studies and Training (CEMAREF) $33,500 To train a core group of Tunisian youth activists on leadership and organizational skills to encourage their involvement in public life. CEMAREF will conduct a four-day intensive training of trainers program for a core group of 10 young Tunisian civic activists on leadership and organizational skills; train 50 male and female activists aged 20 to 40 on leadership and empowered decision-making; and work with the trained activists through 50 on-site visits to their respective organizations.

Association for the Promotion of Education (APES) $27,000 To strengthen the capacity of Tunisian high school teachers to promote democratic and civic values in their classrooms. APES will conduct a training-of-trainers workshop for 10 university professors and school inspectors, and hold three two-day capacity building seminars for 120 high school teachers.”

The above organizations and others have been recipients of ongoing NED grants in Tunisia, as the following list from previous years indicates:

2008: Al-Jahedh Forum for Free Thought received $57,000 to train Tunisian activists; Mohamed Ali Centre for Research got $37,800; Tunisian Arab Civitas Institute, $43,000 for training teachers in “civic values”; and the Center for International Private Enterprise (CIPE), $163,205 “to inculcate free enterprise doctrines among Tunisian businessmen, which reflects what NED is really aiming for in its promotion of “democracy and civil values”: globalization” (Bolton, 2011)

2007: AJFFT received $45,000 to develop Tunisian Activists; the Arab Institute for Human Rights (AIHR) got $43,900; the Center for International Private Enterprise, $175,818; the Mohamed Ali Center for Research, Studies, and Training, $38,500; Moroccan Organization for Human Rights (OMDH), $60,000 “to strengthen a group of young Tunisian attorneys as they mobilize citizens on reform issues.”

In Egypt, the number of NED grants doubled in 2009 to 33 democracy projects totaling $1.4 million; and the focus changed from promoting private enterprise to training young human-rights lawyers, and identifying and training youth activists. It will be interesting to see when (if?) NED publishes its 2010 grants. From the NED website, a sample of the grants for 2009:

Egyptian Union of Liberal Youth (EULY) $33,300 To expand the use of new media among youth activists for the promotion of democratic ideas and values. EULY will train 60 youth activists to use filmmaking for the dissemination of democratic ideas and values. The Union will lead a total of four two-month long training workshops in Cairo to build the political knowledge and technical filmmaking skills of participating youth involved in NGOs.

Andalus Institute for Tolerance and Anti-Violence Studies (AITAS) $48,900 To strengthen youth understanding of the Egyptian parliament and enhance regional activists’ use of new technologies as accountability tools. AITAS will conduct a series of workshops for 300 university students to raise their awareness of parliament’s functions and engage them in monitoring parliamentary committees. AITAS will also host 8 month-long internships for youth activists from the Middle East and North Africa to share its experiences using web-based technologies in monitoring efforts.

Bridge Center for Dialogue and Development (BTRD) $25,000 To promote youth expression and engagement in community issues through new media. BTRD will train youth between the ages of 16 and 26 in the use of new and traditional media tools to report on issues facing their communities. BRTD will also create a website for human rights videos and new media campaigns in Egypt.

Egyptian Democracy Institute (EDI) $48,900 To promote accountability and transparency in parliament through public participation, and to build legislative capacity. EDI will produce quarterly monitoring reports and hold seminars to discuss the overall performance of Parliament and offer recommendations on legislation proposed in the People’s Assembly. EDI will monitor, collect, and document evidence of corruption in Cairo and Alexandria.

Lawyers Union for Democratic and Legal Studies (LUDLS) $20,000 To support freedom of association by strengthening young activists’ ability to express and organize themselves peacefully within the bounds of the law. LUDLS will train 250 youth activists on peaceful assembly and dispute resolution.

Our Hands for Comprehensive Development $19,200 To engage Minya youth in civic activism and encourage youth-led initiatives and volunteerism. Our Hands will hold two public meetings for local youth to discuss challenges and to identify youth leaders who would benefit from additional training courses. Participants will produce a short film on youth political participation, and develop and implement action plans for resolving problems facing youth in the governorate. Our Hands will also provide Minya youth an opportunity to learn from the experience of and network with Cairo-based activists and NGOs.

Youth Forum $19,000 To expand and maintain a network of youth activists on Egyptian university campuses and to encourage the participation of university students in student union elections and civic activities on campus.

NED and Soros have been injecting millions of dollars into the training of North African, pro-democracy teachers, lawyers, journalists and youth activists. In 2009, they more than doubled their training efforts. Why, at this time, has the 30-year support of these dictators been undermined? The prize is the rapidly-rising economies of North Africa. It coincides with the efforts of Ben Ali to make Tunisia the financial center of North Africa and to promote Islamic banking. The Rothschilds want North African Muslims to borrow from Rothschild banks and pay interest at rates the Rothschild central bank decides: they do not want them to be able to borrow from Islamic banks and not pay any interest. The Rothschilds want Muslims to trade their present political oppression at the hands of brutal dictators for future economic serfdom under the control of banker Lord Rothschild.

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Breaking News – Moroccan Man Dies After Setting Himself on Fire – Will Morocco Be The Next Revolution as Rothschilds Target Islamic Banks?

February 12, 2011: A 26-year-old man died in central Morocco after setting himself on fire in despair since being dismissed from the army. “He poured five liters of petrol over himself and set himself on fire,” Mohammed Hanofi of the Moroccan Human Rights Association said. “He died in hospital.” It was the first reported death in the country from self-immolation, which has also occurred in neighboring Algeria and triggered the revolution in Tunisia that overthrew the government of Ben Ali.

Like Tunisia and Egypt, Morocco recently opened its first Islamic bank, Dar Assafaa, in January of this year. Islamic banks do not charge interest – and threaten the profits of traditional banks. Like Tunisia, Morocco is in a strategic position on the Mediterranean: between Europe and the huge business opportunities among the Muslim populations of North Africa. The National Endowment for Democracy has put a lot of money into training activists in Morocco the past few years. (NED website)

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Further reading:

Wikileaks: Rothschild Operation – Swiss Banking Rivals – A Bankers’ Turf War – Trademarks of a Covert Operation – Worth of One Family: $100 Trillion

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October 2008: ‘Testing Times’ for Financiers – BBC Interviews Evelyn de Rothschild – Ethics in the Financial World? – Failures of Leadership

BBC News: But now on to matters of the economy – not just here, but in America. All eyes are on Washington as the amended version of the Bush Administration’s bank rescue plan is put to another vote in the House of Representatives tomorrow. Financial markets around the world have been waiting on the bill with bated breath this past few days; and these are very testing times for financiers. Joining us is one of the City’s most experienced and most respected bankers, Sir Evelyn de Rothschild: he’s chairman of the investment company E.L. Rothschild, and ran the merchant bank N.M. Rothschild for more than twenty years. Thank you very much indeed for joining us.

Evelyn de Rothschild: Thank you.

BBC News: If this bill doesn’t go through, even now, what is your thought about the results of that?

Evelyn de Rothschild: I think it’s pretty certain it will go through: because the Senate, being the senior house – although perhaps the House of Representatives doesn’t like that thought – has put quite a lot of pressure. And I’d be very surprised if it doesn’t go through; but obviously if it doesn’t go through, we have a[n] impasse which is very serious. And what does that mean? I think we have to learn.

BBC News: You’ve been around in senior position in the City for a very very long time indeed. Do you think what we’re looking at here is not just a failure of sort of technical matters, but a change in the way people do business, in the way that ethics work in the financial world?

Evelyn de Rothschild: Well, I wrote about this some time ago – and I think that it is right. I think what’s happened is that the expansion of financial world is huge. If you look back over fifty years, there was only probably about fifty banks in the world. Today it’s not just banks: it’s financial instruments. And if you do not regulate them, and you let everyone do what they want to do, then you’re bound to get sometimes trouble which ensues. And that is what’s happened.

BBC News: Big City bonuses played their part?

Evelyn de Rothschild: Well, of course that’s the first thing they look at; that is something which I believe that the shareholders should have a much bigger say. I don’t think shareholders have been asked before the bonuses have gone out, in many cases. I also think the other thing which is very very serious is a lot of directors – not just of banks, but of financial institutions – didn’t understand some of the instruments which were being used for financing. And you saw that in the submortgage scandal in America.

BBC News: Forgive me: you’re got a few grey hairs, and so have I: so we remember recessions and problems before. Is it not important that there be experienced people at the top of these institutions? In other words, has there been some failures of leadership?

Evelyn de Rothschild: Oh, absolutely. I mean you’ve seen that in America: you saw that with Lehman Brothers; you saw that with Bear Stearns; you saw it with numbers. I mean, I think it’s very easy to criticise and jump on people who haven’t shown leadership; but I think it’s also the system has not kept up with the pace. If I may say, I’m not sure – do you have a Blackberry under the table?

BBC News: I don’t; but most people do.

Evelyn de Rothschild: But you see, that itself, if you remember the number of people today who talk through a machine, a Blackberry, or an Internet – and everything has got to be done in such speed. Do you people really think through what they’re doing before they do it? That’s one of the big questions. And supervision has not been up to scratch. And if you have regulation, you’ve got to have supervisors. And supervisors have got to be well paid: they’ve got to be just as well paid in many ways as the bankers they are supervising.

BBC News: Unfortunately, we don’t have a lot of time for this. We’re very grateful to you indeed –

Evelyn de Rothschild: Oh.

BBC News: – for sharing your thoughts. Sir Evelyn de Rothschild, thank you.

Evelyn de Rothschild: Always nice to see you.

BBC News: Thank you very much indeed.

Evelyn de Rothschild: Thank you.

BBC News: Thank you. Hm hm. Well, people do get up and leave the studio from time to time: we don’t mind that at all.

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