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Business/Finance See other Business/Finance Articles Title: Between fact and fiction: the Rothschilds in China Want... On July 10 Nicky Hilton, a member of the US Hilton hotel dynasty, wed James Rothschild, a member of the English branch of the renowned European banking family, in what has been billed as "the wedding of the century" in both the UK and the US, according to the website of Guangzhou-based newspaper Time Weekly. The Rothschilds were said to be the wealthiest and most mysterious banking families in Europe during the 19th Century. German poet Heinrich Heine once said of the family, "Money is the god of our times, and Rothschild is his prophet." The Rothschilds are well known in China, as they featured in Song Hongbing's anti-Semitic nationalistic bestseller Currency Wars (Huobi Zhanzheng), published in 2007, which portrays the Rothschilds as being at the center of a global conspiracy to control the international financial industry. Among other assertions, the book suggests the US Federal Reserve is a not controlled by the US government, but is rather a group of private entities loyal to the Rothschild family. The book is said to have been popular among top Chinese officials and financial industry leaders. Despite Song's claims, it is believed that the wealth and influence of the Rothschild family has declined due to the sheer amount of descendents among which it has been divided. The founder of the banking dynasty, Mayer Amschel Rothschild was a court Jew, or Jewish banker for royalty and nobility, for the German Landgraves of Hesse-Kassel in Frankfurt, established a banking business in the 1760s. He passed his wealth on to his five sons, sending them to establish banking businesses in the five prominent business centers of Europe, Frankfurt, London, Paris, Vienna and Naples. The family later diversified into a wide range of industries, including mining, real estate, financial services, energy, farming, wine and charities. Song's book estimated the Rothschild family's wealth stood at US$5 trillion. David Rene de Rothschild, a member of the French branch of the family who currently controls the business interests of the French and English branches of the family, denied many of the assertions in Song's book in an interview with state broadcaster Chinese Central Television (CCTV) in 2010, while on a business trip to China, according to the paper. Rothschild is also reported to have refused to take part in the program if Song was invited as a guest. At the Boao Forum for Asia 2014, Lady Lynn Forester de Rothschild, who is married to Sir Evelyn Robert de Rothschild, another member of the English branch of the Rothschild family, reportedly called the assertions made in Song's book absurd, but stated that it had boosted the reputation of the Rothschild banking businesses in China. David Rene de Rothschild told CCTV in the interview that much of Song's book had been fabricated. He also said that Song had focused only on the successes of the family and had ignored the price they paid for their success. Song's book portrays the family as profiting from wars via supplying loans to fund the militaries of the countries involved beforehand and giving loans to fund reparations paid by countries defeated in the wars afterwards. Song's book states that at the beginning of the 20th Century, the family controlled around half of the world's wealth. Rothschild stated that Song's account does not correlate with reality. He said that, as a Jewish family, they "lived the very dark hours of the Nazi regime during the Second World War too, where Jews were arrested, persecuted and killed in concentration camp[s]." He said that this is one of the reasons the family is so cautious in its investments, allowing its businesses to remain unaffected by the 2008 global financial crisis. The Rothschilds forayed into China long before the publication of Currency Wars made them a household name in the country, however. At the beginning of the Reform and Opening Up campaign led by former Chinese leader Deng Xiaoping, in 1979, the Rothschilds had their first contact with China. At that time, UK firms British Coal and Northern Engineering Industries planned to build electricity plants in Beijing and Jiangsu. The Rothschilds were consultants on the two projects. NM Rothschild & Sons was also reportedly involved in an investigative draft of China's railway network in the 1980s. Currently the Rothschilds hold 4.98% of shares in the Bank of Qingdao and have set up joint venture Domaines Barons de Rothschild-Citic Wine Estate in Penglai in Shandong along with CITIC East China. They were also involved in China National Offshore Oil Corporation's attempted acquisition of US oil company Unocal as well as the merger between Nanjing Automobile and Shanghai's SAIC Motor. The company lists an array of Chinese clients, including state-owned China Mobile and China Unicom, as well as private firms, including hot pot chain and meat and condiment processing firm Little Sheep, owned by US firm Yum! Brands and internet giant Alibaba. Rothschild also stated that the company was a consultant in China Unicom's US$24 billion acquisition of China Netcom Group. The Rothschilds also facilitated Chinese carmaker Geely's acquisition of Volvo from Ford in 2010, the largest acquisition of a foreign car company by a Chinese company ever. On his visit to China, David Rene de Rothschild also stated that he hopes that he hopes that the Chinese market can help the family firm expand its share of the global financial management business from 3% to 10%. References: Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 1.
#1. To: Tatarewicz (#0)
The Hiltons (including Paris) are Jewish. One of the Gabor sisters married into the Hiltons.
There are no replies to Comment # 1. End Trace Mode for Comment # 1.
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