France had so many indirect taxes, and they were so complex, that the king, who was forever broke, was quite happy to farm out the tax-collecting chores to accelerate cash flow. The Farmers General, as they were called, would buy a six-year lease for a price corresponding to the total amount of taxes they deemed they could collect in that period of time. Obviously, the estimates were always on the low side, but the king, forever short of money and anxious to get at these huge upfront sums of money, wasn’t inclined to negotiate to any great extent. As one would expect, since the Farmers General kept all the taxes collected and acted in the name of the king, they used very aggressive tactics in dealing with the citizens.
The Farmers General became fabulously rich, pocketing as much as half of the total taxes paid out by the citizens. They would also routinely coerce and blackmail the producers in order to buy their goods at ridiculously low prices, and then they would sell the same goods to city merchants at the other end at exorbitant prices. They were the most hated men of the realm and much of the bitterness was directed at the king, for they acted in his name. When a finance minister was to be named, they directly influenced the king in his choice, thus getting the most accommodating candidate. When Nicolas Fouquet was named Superintendent of Finances, the East India Company shareholders were offered a great opportunity.
Louis XIV was a born megalomaniac, and in 1661, he was humiliated by Nicolas Fouquet who was suspected of having doubtful dealings with the Farmers General. Fouquet had invited the king to his magnificent château de Vaux-le-Vicomte that he had just built, and the king upon seeing the magnificence and the beauty of the domain, not only envied his achievement but wondered where all the money to build it had come from. Smelling a rat, he confiscated Fouquet’s assets and threw him in prison.
The shareholders of the East India Company seized the opportunity and relieved the King’s rancour by making all necessary credit available through third parties so that he could build the most sumptuous kingly residence in the world, the chateau de Versailles. Louis XIV proceeded to hire the great artisans that had created the château de Vaux-le-Vicomte, architect Louis Le Vau, painter Charles Le Brun, and garden designer André le Nôtre, and construction began.
By this time, the owners of the East India Company were the masters of international trade and commerce and their navy ruled the oceans of the world. The shareholders of the East India Company were Jews and Huguenots, and although they were business men and bankers first and foremost, they harbored a festering hatred directed at the Holy Roman Empire, the politico-religious institution that had persecuted them for centuries. They were intent on bringing it down, and the obvious starting point was France, the cornerstone of that empire. In financing the construction of the chateau de Versailles, they were looking well ahead. They had found a way to divide in order to better conquer when the time came. By separating the seat of power from the people, Versailles was twenty kilometers from Paris, the king would become vulnerable. Eventually, Versailles would be perceived as a den of vipers living off the misery of the people, and the King would easily be brought down. The occult financing of the chateau de Versailles by the Amsterdam financiers was the seed that would develop into the French Revolution a hundred years later.
By 1789, bread continued to be the most important ingredient in a Frenchman’s diet. It was central to people’s lives, and though it was the corrupt Farmers General who controlled the supply of cereal and created famines, the bakers were the ones perceived as profiting from dearth and famine and making huge profits by selling this vital commodity at a high price. Bakers were often accused of hoarding stocks and were frequently assaulted. Being lynched became the occupational hazard of bakers. So, limiting the supply of cereal was a very easy way to create unrest in the major urban centers.
There was such unrest in the realm when the tennis court oath under the leadership of Mirabeau in June, 1789, the taking of the Bastille under the sponsorship of Louis-Phillippe d’Orléans in July, and the March on Versailles under the guard of Lafayette in October, were carried out. These incidents were obviously organized by well-paid East India Company agents, and the March on Versailles is perhaps the one that best shows that. In October of that year, a very odd crowd of transvestites went to Versailles to fetch the royal family, “the baker, the baker’s wife, and the baker’s apprentice” as their chant went. The untypically aggressive ‘ladies’ even entered the royal residence while Lafayette and his mounted guard made no attempt to stop them. How such an ungainly disguised group could go to Versailles, capture and bring back the royals to Paris with Lafayette’s National Guard standing by is a mystery that the history books fail to examine.
The East India Company was established in 1600 and was made up of patient and determined men. It took control of international commerce as early as 1624 when it established a foothold on the shores of the Hudson River in America and especially when it took possession of Cape Town in 1652. The owners created democracy by financing an independent parliament in 1689, and creating the Bank of England in 1694. Sure of having their loans repaid by the people’s parliament, they financed unlimited research and development which became known as the Industrial Revolution.
Following a hundred years of mindboggling growth and wealth, they were ready to launch the French Revolution in 1789. In 1810, even though the Bank of England was taken over by the banking dynasty that had created the Bank of North America in 1781, the transition was harmonious, and investments in R&D continued to grow exponentially worldwide. The dynasty that took control of the Bank of England and the City then is the same that rules the financial world today, and we should consider ourselves very fortunate indeed.