By Boniface [from Substack]
This song from The Clash is one of my favorites. The line “London Calling” refers to the BBC broadcast that was sent to Occupied Europe in WWII, which began with that line.1
Of course, we all know this song refers to a city, in England, called London. But, if you look at a map of this city, you might notice a little patch in the middle that is not “in” the city. If you look at the name, it is called the “City of London”.
This is one of the oldest and most mysterious cities. But, don’t be fooled, this is not where the King lives. However, it is one of the most powerful places in the world.
In this article, I will look at the history of the city, how it functions, what is it’s impact, and how it relates to my previous article on the Federal Reserve.
I will let you know: I am not a financial mogul, historian, or expert in anything. I read and listen to things I am interested in, and then write about it. I will learn as much as you do from this article, I hope. Maybe I am a future financial mogul, historian, or expert in anything… anyway, lets get to it.
The History of the City
Once upon a time the Romans ruled the world. Or, at least what they considered the world, which happened to be what they ruled. One place they ruled was the isle of Britain.
A note by a Scot…
I might add that the Romans did not control Scotland to the north. They were so afraid of the Scots that Emperor Hadrian built a wall, called Hadrian’s Wall (which I have been to), to keep them out. That was one part of the world they couldn’t conquer!
Now, back to the article…
The Romans set up a trading post in the south of Britain called Londinium, and did what the Romans did best (which was certainly not conquering Scots), building and trading.
The Romans came and the Romans left, but the city of Londinium remained the same, a trading post. As Britain was divided up into little fiefdoms, it still stood.
When William the Conqueror came from France during the Norman Conquest (think “French Conquest”), he came to the city of Londinium, but did not conquer it.
I like to believe the scene played out something like this:
He instead offered the Londoners a deal: accept him as king, and he won’t bother them—he will even give them special privileges. That seemed good enough to the Londoners.
Ever since then there has been an unspoken rule that the City of London, while part of the United Kingdom, is more like a separate country, like Scotland or Wales, than a county inside England.
Take, for example, the Magna Carta, the famous piece of legislation that King John was so famously reluctant to sign. There are three clauses that are still in effect, the right to a trial by jury, the rights of the English Church2, and this interesting clause 13:
“The city of London shall enjoy all its ancient liberties and free customs, both by land and by water. We also will and grant that all other cities, boroughs, towns, and ports shall enjoy all their liberties and free customs.”
No one messes with the City of London, even King John.
The City of London slowly became a hub of trade for Europe, made more attractive by the fact that the King has to ask permission to come in.
In the 17th Century, the last Stuart King, James II3, was overthrown by the army (a trend not uncommon at that time… see Charles I and Oliver Cromwell’s son, Richard), who then “invited” the King’s daughter and her husband, the infamous William (of Orange) and Mary.
Along with the Puritans, William and Mary brought the deep state of Venice, who latched themselves onto the City of London as the new hub of globalism.
The deep state of Venice…
Two examples of the Deep State of Venice can be found in two Shakespeare plays: Shylock in The Merchant of Venice is part of this, being a usurer who takes large (sometimes lethal) interest on their loans. The second is Othello and the evil Iago (this second I sadly do not know as much about).
There is more on Venice here.
What does the City of London do?
The City of London is the main financial district of London, along with nearby Canary Warf (where my father spent two years working). Lots of businesses have offices there, including Lloyds Banking Group, Standard Chartered, Prudential, and Aviva4.
In addition, the Bank of England and the London Stock Exchange are both based in the City of London.
Think of “The City” (as it is called, or “The Square Mile”) as similar to Wall Street in New York. Very busy, very fast, very exciting. It would be indeed really cool to work there.
But Wall Street is just financial, while the The City is financial and geo-political.
The City is quite independent from the rest of the UK. To understand how independent they are, you have to see how complicated is the function of the city.
How does The City function?
The City of London is sometimes called the world’s oldest functioning democracy. It is also the world’s most weird democracy, since corporations can vote.
You see, while there are, during the day, around half a million people in The City, only about 1% actually live there. The other 99% commute there every day. So being a resident is not a real issue in The City, like it is in the United States, where the president has to be a natural born citizen.
The city is run by a mayor, who is elected by… lets just say he is elected. If you want the intensely interesting process in brief, watch this:
In brief (briefly): the mayor is elected by a bunch of guys who are nominated (indirectly) by a bunch of businesses.
Interestingly enough, while London (the one with Big Ben and Buckingham Palace) does not have a coat of arms, the City of London does:
Versions of this coat of arms are all around the City, and even outside it. For example, London Bridge is owned by the City of London.
How does this relate to the Federal Reserve?
I wrote a very long article a month ago about the Federal Reserve. It explored the HOW of the Fed, and WHAT the Fed is doing currently. What I have said about Fed Chairman Jerome Powell being the most powerful man in the world is still true (though, sadly, I cannot claim originality on this point).
What the Fed is doing right now is raising interest rates on loans. This means money is more expensive, and therefore there is less of it floating about.
The most valuable asset that the US has is the US dollar. Offshore US dollars (called, for some unfathomable reason, Eurodollars) were exchanged and loaned out at a higher rate outside the US than inside! This, though, is changing, since the Federal Reserve, which basically controls the US dollar, has stopped giving out US dollars as loans to other central banks, like the European Central Bank (ECB).5
A side note by someone (me) who follows politics also…
The shenanigans going on in Ukraine are a whole other subject in and of themselves. Not only is the subject charged with bias on both sides (though I lean on the side opposite of the Brandon Administration/Regime), but it is not controlled by the Fed.
The US Government (that is, Brandon-a.k.a.-Biden and Congress) are definitely the culprits. Sending $500 billion to Ukraine is not in the Fed’s best interest. They are the bankers of the US Government, which is like managing money for a crazy grandmother. This is especially the case, since the Fed can hardly make the Government not spend. Their job is to come up with the money the Government decides to spend.
We need to make sure our sides are straight…
Our main enemy, as it has been for a long time, is Globalism: the idea that there needs to be an erasure of patriotism, and that a ruling elite keep down the common people to a “sustainable level”.
But every empire and it’s brother has an idea who should be that ruling elite, and who everyone should conform to.
A note on what globalism is (with a hat tip to Chesterton)…
The globalist does not want everyone to come together to be a hybrid race of all the good things of all the races. The globalist wants everyone to be English (or American or German or Swahili, depending on which globalist we are talking about). They don’t want to learn fishing from the Eskimo and horse-catching from the Nicaraguan. They want the Eskimo and the Nicaraguan to serve them tea every day at 10:00 (using the 24-hour clock on Greenwich time, like in the futuristic movies).
It is good, in defining who we are up against, to think of them like rival gangs back when gangs were cool6. None of them are our friends, but some are more our enemies than others…
The Davos Crowd
On one side, we have a World Economic Forum or Davos Crowd (Davos being the classy place in Switzerland the leaders meet at every year) that wants you to “own nothing and be happy”, eat bugs, and have no kids. They want to exterminate the “unnecessary” among the population, including you and me.7
Biden is dumb enough to want this. He thinks he is the best president in history: the one that finally ushers in the New World Order utopia.
The Davos Crowd is run by people like George Soros and Klaus Schwab. It has associations with the EU and Germany.
Here is what they think of you and I:
“The rest of the world… is not exactly a garden. Most of the rest of the world is a jungle, and the jungle could invade the garden. The gardeners should take care of it, but they will not protect the garden by building walls.”
—Josep Borrell, EU foreign policy chief (source)
Definitely not my cup of tea.
But the Fed is answering this with two words: “Not on my money!”8
The City of London Gang
These are probably the oldest of the three main groups I am addressing. As we have seen, the City of London has been around since the Romans.
Their goal is not a New World Order like that of Davos, but an Imperial Britain that can rule the world. The English are great, but they kind of went astray when they went British.
In this context, the City of London Gang also includes such agencies as MI5, MI6 (think FBI and CIA Brit-style) and NGOs (Non-Governmental-Organizations9) like Chatham House.
But also this encompasses the FBI, CIA, DHS, etc. As well as NGOs like the Council on Foreign Relations (CFR for cool people). All those… wonderfully-competent-and-well-run-agencies-that-only-have-the-interest-of-the-American-people-in-mind-when-they-do-anything. These are also run out of London, through special interest, big money, and all those other great things. See this informative article on the subject.
In other words, the City of London is in it for Britain and the Empire. They work with Davos because they have similar ideas and goals, but they are not the same.
The Wall Street Outfit
Home of the New York Stock Exchange and a lot of other things, Wall Street has competed with the City of London now for years as the financial capital of the world. Its like a casino but with bigger names, more special interest, and lots of finance.
They were made by the City of London, via Alexander Hamilton’s old friend Aaron Burr (I say this sarcastically). Burr wanted Imperial British dominance, because that’s who was his boss.
A note about the American Revolution…
“One thing has to be remembered about the American Revolution: it was against an Empire. Empires don’t just dissolve into thin air, and they don’t give up land like the 13 Colonies easily. After the war, the British didn’t just throw up their hands and say “you know, your right!”, they instead undermined the new republic all they could.
Guess who we fought the War of 1812 with?
The same rule goes to other “former” colonies of the British (or any) Empire. Take India: does it sound like an Imperial Empire to just leave a country they have controlled for 400 years just because a guy named Gandhi said so?”
Back to what we were talking about…
Sooo…. Aaron Burr wanted Imperial British dominance, because that’s who was his boss. But Wall Street now is a competitor in it’s own right. There is too much money and power for them to just ask the City for orders. They, like the Davos crowd and the City of London, play along, but US Imperial dominance is more to their liking.
Have you got those straight? They are the enemies, but they are enemies to each other as well.
For Tolkien fans…
If you have read The Hobbit, you know of the story of the Trolls. Bilbo is caught by a bunch of Trolls, which are giants that live under hills and only come out at night. When the sun rises, they turn to stone.
Bilbo was in a tight spot, since they were planning on eating him and his dwarf 10 friends.
That is, until Gandalf the wizard comes along and helps them. He mimics the voices of the Trolls and gets them into an argument about how they should cook the dwarves. Should they roast them, stew them, or broil them?
This lasted till sunrise… and they all turned to stone.
There were three Trolls in the story, Tom, Bert, and William.
Their demise was their argument.
This will be the same for our three trolls.
Why is the Fed always called the bad guys?
The Federal Reserve is not an old thing. It was created by Woodrow Wilson (who tried really hard to become the worst president in US history, with some success) to combat the extensive bank runs that were going on at the time. What happened is that a small bank in a small town would fail. This would cause neighboring towns to run to their banks to withdraw their money, because they were scared. This createed a ripple effect across the country that culminated in a financial crisis.
In 1913, the US suffered an especially bad financial crisis. It was then that one of the most powerful financiers in the world, J.P. Morgan himself, decided to do something.
He pushed, along with a bunch of other Wall Street oligarchs, to create something that could catch the falling banks. The whole thing was threshed out on a hyper-exclusive island resort in Florida, where all the big guys liked to hang out. It was Elite-General-Head-Quarters.
What happened was the Federal Reserve, which is a miracle of compromise, with the Government not wanting to give too much power to Wall Street, and Wall Street not wanting the Government getting in their way.
Every self-respecting (i.e. FDIC ensured) bank has stock in the Fed. They get a return on the investment. It would be naïve to assert that the banks do not get a certain (albeit, under the table) influence over the Fed.
All in all, the Fed is a tool of American Commercial Banks… but is that a primarily bad thing at the moment?
What is the Fed doing?
Currently, the Fed has been raising interest rates to combat the inflation (caused, first by the stimulus released because of the lockdowns, and secondly because of the hundreds of billions of dollars sent to the “freedom fighters” in Ukraine).
This raises the price of money around the world, since everyone depends on the Fed as a lender of last resort and also to finance their debt.
But, the Fed doesn’t want to finance foreign debt anymore. It’s not worth anything.11
Also, the rise in interest rates, along with the sovereign debt crisis, has affected the so-called Eurodollar market. With the rising price of money, the amount of offshore dollars has started to dwindle. Remember: the goal of the European Union and City of London is to loan out and create (through Fractional Reserve Banking12) more dollars than the Fed.
Is this a good thing? Is the Fed a benevolent institution looking to further the interests of the common man? Are they a gangster outfit in a shootout with the rival gang?
The Napoleon of Notting Hill… again
In my latest article, I laid out the basic plot of Chesterton’s first novel, The Napoleon of Notting Hill. In it, despotic England is forced by a lunatic king to turn into Medieval England (knights, banners, and all), and in the process finds patriotism and love of country.
In the beginning, when England is still a cosmopolitan despotism, the main antagonist, Barker, is explaining the new English system for choosing the King: randomly, by the alphabet.
“Do you really mean,” asked the President [of Nicaragua, which is another thing we don’t have time to explain], incredulously, “that you choose any ordinary man that comes to hand and make him despot—that you trust to the chance of some alphabetical list….”
“And why not?” cried Barker. “Did not half the historical nations trust to the chance of the eldest sons of eldest sons, and did not half of them get on tolerably well? To have a perfect system is impossible; to have a system is indispensable. All hereditary monarchies were a matter of luck: so are alphabetical monarchies. Can you find a deep philosophical meaning in the difference between the Stuarts and the Hanoverians? Believe me, I will undertake to find a deep philosophical meaning in the contrast between the dark tragedy of the A’s, and the solid success of the B’s.”
—Book I, Chapter II (emphasis my own)
This is my personal view of the Federal Reserve. They are a system. It is not perfect by any stretch, but right now it is taking down Davos and the WEF.
The point is that the Fed is controlled not by just any commercial banks, but by American commercial banks. Say what you want, a bigger, stronger America helps American Banks, not European Banks.
This is a battle between the American Banks and the European Banks.
But where is the European hub of finance?
The City of London vs. Wall Street
We have gotten our ducks in a row: the WEF want to own you. The American Banks want to own you as well, but they also want the WEF not to own you.
For a long time (since the Glorious Revolution) the City of London was the hub of global finance, where things really happened. This changed with the rise of Wall Street. The British Empire realized that they could not keep up a formal imperial government, so they shifted the heavy lifting to the US, which gave rise to the American Empire that we lament.
Part of this is the control Wall Street and the Fed has over the world. The City of London hoped to control Wall Street like Wall Street (and the City) controls the US government: through special interest and big money.
But Wall Street (and more primarily, Jerome Powell at the Fed) have realized that they have the power, and that they do not need to listen to the Europeans and the City of London. They have the power to make Europe “go pound sand”.
The lines have been drawn in the sand by Jerome Powell as to his position in the financial war: he is the head of the US Federal Reserve, and he is going to keep his own gang afloat, even if his allies in the WEF and City of London fall.
But is the City of London going to be done away with as easy as that? They are not part of Davos any more than the Fed is. Their policy for 100 years has been to keep pals with the US.
Will they play along with Europe or the US?
“London calling to the faraway towns
Now war is declared and battle come down
London calling to the underworld
Come outta’ the cupboard, ya’ boys and girls”
—London Calling, The Clash
Tom Luongo from Gold Goats n’ Guns and Matt Ehret from Matthew Ehret’s Insights are part of the inspiration for this article. Reading their stuff helps me understand what I am talking about.
1– One thing that is interesting is that in the song, they talk about the “ice age coming”. More recently, people refer to “global warming”. Now, all they have to say is “climate change”. They have to change the narrative.
2– Or, the Church in England. I deliberately do not use “Church of England”, since that implies things from the break of the Church during the English Reformation.
3– In case you were wondering, there have been tons of different families ruling England… King Charles II is not directly related to William the Conqueror. If you are interested in the line of succession, see this video:
4– Even if you don’t recognize these names, you might recognize some of the logos. I, for one, know that Standard Chartered sponsors the English soccer team Liverpool and Aviva used to sponsor English Premiership Rugby. They are all in the financial sector, which is important.
5– There is, of course, the bailing out of Credit Suisse in Switzerland, which I don’t know that much about, but am looking into.
7– Believe it or not, in trying to find the tweet by the WEF, I found this “fact check” by Reuters: “Fact check: The World Economic Forum does not have a stated goal to have people own nothing by 2030”.
Okay, maybe it was not technically a “stated goal”, but it is a “prediction”.
8– Yes, you read that correctly.
9– This has never quite made sense to me, since it seems that every NGO out there is an organization with their hands elbow deep in the government.
10– Thorin, Balin, Dwalin, Ori, Nori, Dori, Fili, Kili, Oin, Glion, Bifer, Bofer, and Bomber.
12– Think George Bailey from It’s A Wonderful Life banking—your money in the banks is loaned out to someone else who deposits it in a bank who then loans it out in their turn and so on.