It would not be an exaggeration to identify George P. Shultz as one of those most responsible for the devolution unleashed on the physical economy of the nations of the trans-Atlantic region over the last half-century. Shultz, who died on February 6, was the quintessential "Economic Hitman," whose policies and actions paved the way for today's Davos billionaires behind the Great Reset and Green New Deal, who are carrying on his work to impose a global dictatorship run by Central bankers, on behalf of the largest private banks and financial institutions. He was not simply a neoliberal "free market" fanatic with academic credentials, but one consciously committed to what was once called synarchism, a term used to describe the international model in which global corporations usurp the sovereign powers of nation states to drive down wages and living standards, while increasing profits for corporate shareholders. He was driven by an immoral commitment to facilitate a radical transformation of human civilization, which would benefit those running corporate cartels, whose interests he faithfully served up to the last period of his life.
This synarchist model was adopted by those who created the corporate cartels and trusts in the 1920s and 1930s, which put the former "Socialist" turned "Fascist" Mussolini in power in Italy, and Hitler in Germany. The slave labor policies of the early years of the Nazis in Germany were dictated by those who created cartels in finance, steel, chemical and food production, and who chose Hjalmar Schacht as Hitler's Finance Minister, to impose those policies, which ultimately led to the extermination of those designated as "useless eaters."
Shultz's Schachtian roots came naturally, as his father worked for the Morgan-Rockefeller-Harriman interests in New York City in the 1920s, located at 120 Broadway, where stock market manipulation and the building of global industrial cartels were the order of the day. Typical of these financial titans was Thomas Lamont of J.P. Morgan, who personally oversaw the building of the monopoly trust arrangements of U.S., British and German firms. It was from these financial and corporate networks that American support was recruited by City of London operatives to participate in their "Hitler project." Among those recruited was Prescott Bush, a director of, and leading investor in the Union Banking Corporation of New York. This bank was seized by the U.S. government in October 1942 under the Trading With the Enemy Act, for its role in financing the Hitler regime. The assets of Bush, his partner E. Roland Harriman and three Nazi partners in Germany, were confiscated by the U.S. Alien Property Custodian. Prescott Bush was the father and grandfather of two future Presidents, George H.W. Bush and George W. Bush, both of whom benefitted from a close relationship with George Shultz.
Shultz was trained at MIT by notorious Tavistock Institute brainwasher Kurt Lewin, whose pioneering work in lowering labor costs experimented with ways to manipulate workers to participate willingly in their own speed-up, to increase profits while avoiding the more brutal methods applied by the Nazis. Lewin developed "Group Dynamic" theories framed as "Participatory Democracy," which came in handy in the 1970s, when Shultz worked with the "Chicago Boys" after the bloody coup against Salvador Allende in Chile by General Pinochet. Though he admitted in an interview that the dictator Pinochet "no doubt did some unnecessarily brutal things," he said this was needed to bring down costs to once again attract foreign investment in Chile!
Before lending his expertise to the efforts of the Chicago Boys in Chile, Shultz was at the center of the London-Wall Street destruction of Franklin Roosevelt's Bretton Woods system. As the dollar was being battered by demands for gold to redeem so-called Euro-dollars being dumped by British and French bankers in the late 1960s, Shultz, then a member of the economic team of the Nixon administration, joined with Paul Volcker, Arthur Burns and Henry Kissinger, to convince Nixon to break with Bretton Woods, ending the gold reserve system backing the dollar, and initiating the era of floating exchange rates. This act, done on August 15, 1971, was denounced by Lyndon LaRouche at the time, who accurately described it as modelled on the policies of Schacht.
Nixon's action was the final blow to the post-war economic boom launched by President Kennedy, with his FDR-oriented commitment to government-directed investment in physical goods production, with an emphasis on scientific and technological progress. Instead, since then, the physical economy of the U.S. has been on a downward trajectory, in which money flows have been directed to speculation on increasingly risky-but-profitable financial instruments, creating ever-new bubbles, in an escalating wealth transfer to the wealthiest 1%. A crucial element in this shift to a "post-industrial economy" was the progression of "free trade" policies, which rewarded large corporations which outsourced production to poor nations, in pursuit of cheap labor costs and to escape quality control regulations. Shultz was a leading proponent of "market-oriented" free trade deals as Secretary of State under President Reagan, which led to an acceleration of the deindustrialization of America. As an extension of the Carter administration's commitment to the "controlled disintegration" of the U.S. economy, pushed by Shultz's old pal Paul Volcker when he served as chairman of the U.S. Federal Reserve, Shultz was also an early proponent of investment in the "information revolution." His move to Stanford University in 1988 after Reagan's presidency enabled him to work more directly with those venture capitalists and others involved on the West Coast in the emergence of the "Big Tech" firms. From his position as former President of Bechtel, and later Board member at the firm after 1989, he played a role in expanding the "Military Industrial Complex" to include Big Tech under its powerful umbrella.
Shultz was an ardent supporter in the Reagan administration of the Thatcherite deregulation policies, which freed bankers from concern with the physical economy. In 1999, he organized a group of neoliberal War Hawks called the Vulcans to back George W. Bush, whose wars benefited his Military Industrial Complex confederates. He joined with Lord Jacob Rothschild to make Arnold Schwarzenegger Governor of California, after the free market energy policies he championed bankrupted the state. And with synarchist banker Felix Rohatyn he pushed the "Revolution in Military Affairs," designed to further privatize military and security operations coherent with the new surveillance state set up by the Bush-Cheney Patriot Act.
Among his last ventures was his work with fellow Bush-League operative James Baker in support of a carbon-tax scam, in keeping with his anti-industrial Green proclivities, which dated back to his support in 1987 for the "Montreal Protocol," one of the early anti-technology, multi-national Green agreements. Given his role as a trailblazer for virtually every aspect of the City of London/Wall Street global order being pushed so aggressively today, Shultz's death no doubt will be mourned by those behind the fascist Great Reset and Green New Deal.