The Importance Of Raoul Wallenberg
2024-09-30
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Raoul Wallenberg—a name synonymous with heroism, the diplomat who rescued thousands of Hungarian Jews from Nazi death camps. Yet beneath this story of courage and moral fortitude, a far darker and more complex narrative has been carefully hidden from the public eye. After his disappearance in 1945, officially declared dead by Soviet authorities in 1947, Wallenberg's fate remains one of the most enduring puzzles of the 20th century.
What happened to Raoul Wallenberg isn’t just a historical curiosity—it’s a cognitive dilemma. His story forces us to confront unsettling truths about the hidden powers pulling the strings behind global politics, and the murky interests that have kept the mystery of his fate alive. Why have key figures, including influential political leaders like Joe Biden, taken such an interest in Wallenberg’s story? What could possibly lie behind the continued obfuscation of his fate
The truth may lie not just in the circumstances of his disappearance but in the power structures he inadvertently became entangled with. Wallenberg’s life—and perhaps more tellingly, his death—intersected with a web of financial elites, geopolitical maneuvering, and covert operations that span from the Soviet Union to Western intelligence. To understand the significance of Wallenberg’s story, we must delve into these broader, interconnected narratives.
This isn’t just about solving the mystery of one man’s life; it’s about understanding the forces of global power that continue to shape the world long after his disappearance. In Wallenberg's story, we find a mirror reflecting back the moral ambiguities, corrupt financial dealings, and shadowy allegiances that have always lurked behind the surface of political history.
And if we begin to understand why Raoul Wallenberg mattered to those who wielded power—then and now—we may start to unravel a much larger truth about the world we live in today.
Chapter 1: Setting the Stage – Joe Biden’s Role in the Raoul Wallenberg Case
In 1979, Joe Biden, then a U.S. Senator from Delaware, found himself involved in a peculiar situation—negotiating with Soviet officials about the possible release of Raoul Wallenberg, a Swedish diplomat and humanitarian known for saving thousands of Hungarian Jews during World War II. Wallenberg’s fate had long been a mystery, with Soviet authorities claiming he had died in 1947. However, rumors persisted that he might still be alive, languishing in Soviet captivity. Joe Biden’s involvement in this raises a critical, and troubling, question: Why would a U.S. Senator be negotiating behind closed doors with the Soviets over a Swedish diplomat, and more importantly, for whose benefit?
The key to answering this question lies not in the humanitarian nature of Wallenberg’s work but in the deeper political and financial ties that have shaped Biden’s career. Delaware, the state Biden represented, is known for its corporate-friendly laws and its status as a haven for multinational companies. Throughout his political life, Biden has consistently aligned himself with the interests of global corporations and financial elites. His involvement in the Wallenberg case, therefore, wasn’t simply an altruistic effort to seek justice for a hero of the Holocaust—it was part of a larger web of political maneuvering tied to global power structures.
Wallenberg’s connection to one of the most powerful financial dynasties in Europe—the Wallenberg family—adds a crucial dimension to this story. The Wallenbergs, a Swedish banking dynasty with deep ties to industries ranging from telecommunications to defense, have long wielded influence in global finance. Their interests often aligned with powerful political actors in both Europe and the United States. As such, Biden’s role in the Wallenberg negotiations wasn’t merely about solving a Cold War mystery; it was also about navigating the interests of powerful financial players.
During Biden’s negotiations with Soviet officials, there were reports that Raoul Wallenberg might still be alive, despite the official Soviet narrative that he had died decades earlier. Biden himself hinted at this possibility, raising questions about why the Soviets would engage in discussions about his release if he were truly dead. This uncertainty only deepens the mystery surrounding the Wallenberg case, but it also reflects the broader geopolitical game that was unfolding at the time—a game in which financial interests often outweighed humanitarian concerns.
Wallenberg’s disappearance had become a symbol of Cold War tensions, but for global elites like the Wallenberg family, his fate may have represented something much more complicated. Could it be that Wallenberg’s financial connections, and not just his humanitarian work, made him a valuable figure in post-war negotiations? And did Biden, with his career-long ties to corporate America, see Wallenberg’s release as part of a larger effort to serve the interests of global financial elites?
By looking closely at Biden’s involvement in this case, we begin to see a pattern emerge—one in which political power, financial interests, and global diplomacy intersect in ways that are often obscured from public view. Biden’s willingness to engage with the Soviets, despite the murky circumstances surrounding Wallenberg’s fate, suggests that his motivations were more complex than simple diplomacy. Instead, it appears that Biden’s efforts were part of a larger strategy to align himself with the global financial system, ensuring that the interests of powerful families like the Wallenbergs were protected.
As we explore this story further, we will see how Biden’s involvement in the Wallenberg case reflects a broader pattern in his political career—a pattern in which the interests of elites are often prioritized over those of the average citizen. This chapter sets the stage for understanding how Biden, through his long career, has positioned himself as a protector of the global financial order—a role that would become even more prominent as he rose to the presidency.
Chapter 2: The Wallenberg Family’s Shadowy Influence
The Wallenberg family is one of the most powerful financial dynasties in Europe, with a history of influence that spans far more than a century. They built their empire on banking, but their reach extends into virtually every sector that shapes modern life—telecommunications, finance, defense, pharmaceuticals, mining, heavy industry and much more. This influence, however, is not without controversy, and their dealings during World War II cast a long shadow over their legacy.
One of the most damning revelations about the Wallenberg family is their collaboration with Nazi Germany during the war. Historians like Gerard Aalders and journalist Susanne Berger have unearthed documents showing the Wallenbergs, through Enskilda Banken, were complicit in laundering Nazi gold—much of it likely stolen from Holocaust victims. This wasn’t just business—it was profiteering on the backs of the dead. This financial collaboration raises significant moral questions about the family’s role during one of the darkest periods in human history.
In one of the most striking examples of their complicity, the Wallenberg family worked closely with Bosch, a German industrial giant, to launder Nazi gold. Jacob Wallenberg, one of the leading figures in the family, was fully aware that the gold they were dealing with could be tainted, yet he proceeded with the transaction anyway. When questioned about the source of the gold, Wallenberg suggested that it should be sold and exchanged for Swiss or Swedish securities if its origins were deemed “offensive”—a cold and calculated move to distance themselves from the dirty truth behind the gold.
This wasn’t just a singular transaction. The Wallenberg family engaged in numerous camouflaged operations to protect Nazi interests, including acting as intermediaries for companies like Siemens, IG Farben, and Telefunken, all of which played critical roles in the German war machine. IG Farben, in particular, was notorious for its involvement in the death camps, manufacturing the chemicals used in the gas chambers. The Wallenbergs, through their financial maneuvering, were indirectly linked to these atrocities—highlighting the moral ambiguity of their legacy.
The family’s actions during the war raise a troubling question: Were their financial interests always at odds with their supposed humanitarian efforts? While Raoul Wallenberg, a member of the family, is celebrated for saving thousands of Jews in Budapest, the actions of other family members paint a much more complex picture. Raoul’s heroism stands in stark contrast to the financial dealings of his relatives, who were making profits from Nazi partnerships at the same time he was issuing protective passports to save Jewish lives. This begs the question—were Raoul’s protective passports, these “golden tickets,” always given freely, or did they sometimes come at a price?
The Wallenberg family's financial entanglements with Nazi Germany didn’t end when the war was over. In the post-war period, they fought fiercely to protect their interests, particularly in the American Bosch Corporation (ABC), a key piece of their empire. The Wallenbergs had acted as Bosch’s front during the war, purchasing shares in ABC to disguise Bosch’s true ownership and avoid confiscation by the U.S. government. When the U.S. finally seized the shares in 1942, the Wallenbergs continued to lobby for compensation, leveraging their connections with powerful figures like John Foster Dulles, who would later become U.S. Secretary of State.
The Wallenberg family’s reach extended far beyond Europe. Their ties to global power structures were cemented through their involvement in the creation of the Bank for International Settlements (BIS), a central institution in global finance. Marcus Laurentius Wallenberg, another prominent family member, was a key player in establishing the BIS, working closely with figures like Thomas McKittrick, the bank’s American president. McKittrick, a close friend of Allen Dulles (John Foster Dulles’ brother and later CIA Director), maintained deep relationships with Nazi financiers even as the war raged on. This web of connections shows how the Wallenbergs used their influence to shape not only the financial world but also global politics.
The Wallenberg family’s involvement in industries like telecommunications and cryptography further underscores their far-reaching power. Their control of Ericsson, one of the world’s leading telecommunications companies, and ownership by proxy of Crypto AG, a company that manufactured rigged cryptography machines for decades, allowed them to monitor global communications and maintain an outsized influence on both economic and political affairs. These cryptographic machines, used by governments around the world, were secretly compromised—allowing Western intelligence agencies to spy on their communications. Once again, the Wallenbergs were at the center of a global web of power, profiting from the very mechanisms that enabled surveillance and control on a massive scale.
Throughout his career, Joe Biden has shown a consistent alignment with global financial elites, like the Wallenbergs, who wield enormous influence over critical industries. Biden’s policies—fit into a broader geopolitical strategy that benefits multinational corporations, where the Wallenbergs have long thrived. The Wallenberg empire stretches across telecommunications, defense, and finance, giving them not just economic clout but the power to shape global events. With political allies like Joe Biden in their corner, their interests are always safeguarded. This connection to global elites, combined with Biden’s involvement in the Raoul Wallenberg case, reflects the broader dynamics of power that have shaped his political career—a career built on serving the interests of the financial elite.
Chapter 3: The Wallenberg Network – A Global Empire
The Wallenberg family is often referred to as the "Rockefellers of Sweden," and for good reason. Their vast empire spans numerous industries critical to both national and global security, including telecommunications, defense, finance, pharmaceuticals, and heavy industry. Through a complex web of interlocking companies, the Wallenbergs have amassed extraordinary influence, not only in Sweden but around the world. But while they are often portrayed as philanthropists and nation-builders, the true nature of their empire is far more shadowy.
At the heart of the Wallenberg empire is Investor AB, a holding company that controls significant stakes in some of the most powerful corporations in Europe and beyond. These include Ericsson, a global leader in telecommunications; ABB, a world leader in energy production; SEB, one of Sweden’s largest banks; and Saab, a defense contractor that supplies cutting-edge military technology. Through these and many other companies, the Wallenbergs hold sway over sectors that are critical to global stability and security.
The family’s control of Ericsson is particularly noteworthy. As one of the largest telecommunications companies in the world, Ericsson plays a central role in building the infrastructure for global communication networks. This gives the Wallenbergs not only financial power but also geopolitical influence, as control over telecommunications means control over the flow of information. In the modern world, where data is the new currency, the Wallenbergs' control over such infrastructure cannot be overstated.
But it is not just telecommunications that positions the Wallenbergs as major global players. Their involvement in defense and security through companies like Saab and Bofors ensures that they are deeply embedded in the military-industrial complex. Saab produces everything from fighter jets to advanced radar systems, making the Wallenbergs indispensable to both the Swedish and NATO military apparatuses. In a world where geopolitical tensions are on the rise, the Wallenbergs’ control over military technology gives them leverage over global security dynamics.
The Wallenberg family’s influence also extends into finance. They control Skandinaviska Enskilda Banken (SEB), one of the largest and most powerful banks in Sweden. Through SEB, they have built a financial network that spans continents, giving them influence over not just European markets but global ones. SEB’s influence reaches deep into the world of international finance, with connections to other global institutions like the Bank for International Settlements (BIS). The BIS, often referred to as the "central bank for central banks," plays a crucial role in shaping global monetary policy. Marcus Laurentius Wallenberg, a key figure in the family, was instrumental in establishing the BIS in the 1930s, working closely with Thomas McKittrick, the American president of the bank, who in turn had deep ties to figures like Allen Dulles—a central player in U.S. intelligence.
This connection to the BIS places the Wallenbergs at the center of global finance, where decisions are made that affect the economies of nations. The family’s influence over such institutions reflects the reality that global financial elites, like the Wallenbergs, operate largely behind the scenes, shaping the course of economic policy while remaining out of the public eye.
The Wallenbergs’ influence over these critical sectors isn’t just about wealth—it’s about control. With control over industries as diverse as telecommunications, defense, and finance, the Wallenbergs wield enormous power over the infrastructure that keeps the global system running. And it is through this power that they have been able to maintain their influence over political figures - like Joe Biden.
Biden’s political career has often aligned with the interests of families like the Wallenbergs. His support for globalization, "free" trade, and multilateralism has consistently benefitted multinational corporations and financial institutions—entities in which the Wallenbergs have significant stakes. Biden’s long-standing ties to corporate America and his support for policies that favor international finance over domestic industry reflect the same globalist priorities that have allowed the Wallenbergs to thrive. It is no coincidence that Biden’s approach to foreign policy—focused on rebuilding alliances and strengthening global institutions—aligns perfectly with the Wallenberg family’s interests.
One of the more controversial aspects of the Wallenberg empire is their control of Crypto AG, a Swiss company that, for decades, sold rigged encryption machines to governments around the world. These machines, unbeknownst to the buyers, were compromised, allowing U.S. and Western intelligence agencies to intercept and decode encrypted communications. The Wallenbergs’ involvement in this operation, though not widely known, shows just how deeply their influence runs in the world of intelligence and espionage. Through companies like Crypto AG and Ericsson, the Wallenbergs have maintained an outsized role in shaping the global flow of information, often to the benefit of Western powers like the United States.
As Biden’s presidency unfolds, it is clear that the interests of the global financial elite will continue to shape U.S. policy. Biden’s alignment with the Wallenbergs and other powerful families ensures that the status quo—a system that benefits multinational corporations and financial institutions at the expense of ordinary citizens—remains intact. The Wallenbergs, through their control of critical industries and their deep connections to global financial institutions, have much to gain from Biden’s presidency, which promises a return to multilateralism and global cooperation.
In contrast, Donald Trump’s presidency represented a direct challenge to this global order. Trump’s America First policies, his trade wars, and his rejection of multilateral agreements were all attempts to break the grip of global elites like the Wallenbergs on the U.S. economy. Where Biden seeks to restore the old order, Trump sought to disrupt it, calling out the very structures that have allowed families like the Wallenbergs to consolidate their power over the global economy.
As we delve deeper into the Wallenberg empire, we will explore the full extent of their influence—not just in Sweden, but across the globe—and how their interests have aligned with those of powerful political figures like Joe Biden. The next chapters will highlight how this alignment of financial and political power has shaped the course of history, with profound implications for the future of the global order.
Chapter 4: Biden’s Career and His Ties to the Global Elite
When examining the political career of Joe Biden, it becomes evident that he has long aligned himself with the interests of global financial elites. From his early days in the U.S. Senate to his time as Vice President and now as President, Biden has consistently supported policies that benefit multinational corporations, financial institutions, and wealthy elites.
One of the key hallmarks of Biden’s political life has been his steadfast support for globalization. Throughout his decades in the Senate, Biden backed free trade agreements like NAFTA, which, while beneficial to multinational corporations, led to the offshoring of American jobs and the decline of domestic manufacturing. These policies were a boon to global financial systems that rely on the movement of capital and production across borders—systems in which families like the Wallenbergs thrive. Through their control of telecommunications, defense, and finance, the Wallenbergs stand to gain from a world where global trade is prioritized over local industry.
Biden’s backing of corporate deregulation and free trade wasn’t just about creating a freer market; it was about ensuring that the global financial elite had the necessary environment to thrive. By lowering trade barriers and encouraging international commerce, Biden created an economic landscape that favored multinational corporations and financial institutions—the very structures that have allowed families like the Wallenbergs to solidify their power. In this context, Biden’s involvement in cases like that of Raoul Wallenberg reflects a broader alignment with the global elites, as Biden navigated the complex geopolitical web in which these financial interests resided.
Biden’s role in the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act is another prime example of his alignment with corporate interests. The law, which made it harder for ordinary Americans to file for bankruptcy, was widely seen as a gift to credit card companies and big banks—industries that benefit from maintaining a strong grip on personal debt. In Delaware, where Biden’s political career was born, major credit card companies like MBNA wielded enormous influence, and Biden’s support for their interests showed just how deeply connected he was to the financial industry.
For families like the Wallenbergs, whose power is entrenched in global finance, Biden’s support of policies that favor multinational corporations and deregulated markets has been crucial. Their vast control over sectors like telecommunications, defense, and finance thrives in an environment where global capitalism is left to run its course with minimal interference. Biden’s commitment to international institutions like the World Trade Organization (WTO) and his efforts to restore multilateral agreements have only further cemented the dominance of these global elites.
In contrast, Donald Trump’s presidency represented a fundamental challenge to this global order. Trump’s America First policies directly threatened the power structures that had long enabled families like the Wallenbergs to dominate the global economy. His decision to withdraw from multilateral agreements like the Trans-Pacific Partnership (TPP) and his imposition of tariffs on countries like China were efforts to protect American industry and workers—actions that ran counter to the interests of the global elite.
Trump’s approach, while often chaotic, was fundamentally populist in nature. He sought to break the hold of global financial elites on the U.S. economy, returning power to American workers and domestic industry. In doing so, Trump disrupted the system that financial elite families had carefully built—one that prioritized global trade, international finance, and the movement of capital across borders. By focusing on rebuilding American industry and opposing the outsourcing of jobs, Trump posed a direct challenge to the dominance of these financial families.
While Biden’s presidency promises a return to multilateralism and global cooperation, Trump’s presidency exposed the cracks in the system, showing just how fragile the global financial order can be when confronted with a populist agenda. For families like the Wallenbergs, Trump’s presidency was an unwelcome disruption, as it threatened to unravel the economic structures that have allowed them to maintain their wealth and influence.
As Biden now seeks to rebuild alliances and restore the global order, it is clear that his presidency represents a return to business as usual for the financial elites. His policies—whether on trade, finance, or foreign relations—will continue to benefit multinational corporations and the global financial system, ensuring that families like the Wallenbergs maintain their grip on global power.
Trump, for all his "flaws", represents a movement that challenged this status quo. His presidency may have been marked by controversy, but his actions reflected a genuine desire to upend the system that had left so many Americans behind while enriching a handful of global elites. He is a threat to their system, and this should be pretty obvious by now. By drawing a stark contrast between Trump’s populism and Biden’s globalism, we can see the real battle that is taking place: a battle between those who seek to restore power to the people and those who seek to preserve the dominance of the financial elite.
As we continue to explore the Wallenbergs’ vast empire and their influence over global politics, it becomes clear that Biden’s presidency represents a continuation of the status quo—a status quo that serves the interests of the global financial elite.
Chapter 5: The Geopolitical Implications of the Wallenberg Empire
The Wallenberg family’s influence is not confined to Sweden or even Europe—it is truly global in scope. Their control over critical industries and defense makes them powerful players on the world stage, with the ability to shape international policy and even steer the course of geopolitical events. The Wallenbergs' reach into these strategic sectors is not just about wealth accumulation; it is about power and control over the very mechanisms that govern modern society. Understanding the geopolitical implications of their influence is key to understanding why Joe Biden’s presidency represents a return to a global order that benefits financial elites, and why Donald Trump’s populism was seen as a threat to this established system.
One of the most significant aspects of the Wallenberg empire is their control of Ericsson, a global leader in telecommunications. With the world increasingly interconnected, control over the infrastructure that enables communication is tantamount to control over information itself. Ericsson’s role in building 5G networks around the world places the Wallenberg family in a position of immense power, as 5G technology will form the backbone of future global communications, from internet connectivity to the Internet of Things (IoT). The Wallenbergs’ influence over such a critical technology gives them leverage not only in the corporate world but also in global politics, as governments and corporations alike will be dependent on this infrastructure for the foreseeable future.
The Wallenbergs’ involvement in Crypto AG, a Swiss cryptography company that manufactured rigged encryption machines for decades, further underscores their influence in the realm of intelligence and espionage. For years, the machines sold by Crypto AG allowed Western intelligence agencies to eavesdrop on encrypted communications of foreign governments, giving them a strategic advantage in the Cold War and beyond. Though this operation was largely orchestrated by the CIA and BND (Germany’s intelligence service), the Wallenbergs’ control of Crypto AG through their telecommunications empire highlights how deeply embedded they are in the geopolitical machinery of global intelligence.
In the realm of finance, the Wallenbergs' connections to the Bank for International Settlements (BIS) give them an influential role in shaping global monetary policy. The BIS, often referred to as the “central bank of central banks,” plays a critical role in setting the terms for international finance, overseeing transactions that underpin the global economy. The Wallenbergs, through figures like Marcus Laurentius Wallenberg, have been deeply involved in the operations of the BIS, working closely with key figures like Thomas McKittrick, who maintained close ties with both Nazi Germany and Allied intelligence during and after World War II. This level of involvement in the heart of the global financial system speaks to the Wallenbergs' enduring power, even in the most secretive and elite financial circles.
Joe Biden’s presidency aligns perfectly with the globalist vision that families like the Wallenbergs have long advocated for. Biden’s commitment to multilateralism, his support for international institutions, and his push for global cooperation are all policies that benefit the financial and corporate elite. These elites rely on a stable international system to conduct their business, ensuring that capital, goods, and services can move freely across borders. In contrast, Trump’s America First policies, which sought to disrupt this system by prioritizing domestic industry and bilateral trade agreements, represented a threat to the very foundations of the Wallenberg family’s global strategy.
Trump’s populism was seen as a direct attack on the global financial system, which depends on multilateral agreements like NAFTA, the Paris Climate Accord, and the Trans-Pacific Partnership (TPP) to maintain the status quo. His decision to pull out of multilateral agreements and impose tariffs on countries like China sent shockwaves through the global elite. For families like the Wallenbergs, whose wealth is tied to free trade and global capital flows, Trump’s policies were an existential threat to their business model. The telecommunications industry, in particular, stood to suffer under Trump’s tariffs and efforts to re-shore manufacturing in the United States, disrupting supply chains that rely on cheap labor and global networks.
Biden’s return to the globalist agenda is a relief for elites like the Wallenbergs, whose fortunes are tied to a stable and interconnected world. Biden’s administration has made it clear that it will rebuild alliances, strengthen global institutions, and restore multilateral agreements, ensuring that the status quo of global capitalism continues. For the Wallenbergs, this means continued dominance in sectors like telecommunications, defense, and finance—industries that rely on the free flow of capital and international cooperation.
The Wallenbergs' reach into the defense industry is another critical aspect of their power. Through companies like Saab and Bofors, they supply advanced military technology to both NATO and non-NATO countries. This puts them at the center of global defense policy, as their products are integral to the military-industrial complex that powers modern warfare. The fact that the Wallenbergs have been able to maintain such a prominent role in the defense industry—despite their controversial ties to Nazi Germany during World War II—speaks to their ability to navigate the complex web of geopolitical relationships that define the post-war world.
It is also worth noting that the Wallenbergs have consistently aligned themselves with Western intelligence agencies. Their control of companies like Crypto AG and Ericsson has allowed them to act as key partners in intelligence operations, providing both the technology and the infrastructure needed to conduct global surveillance. This alignment with Western powers has ensured that their business interests remain protected, even as they operate in the shadows of global politics.
As Biden’s presidency continues, it is clear that his administration will work to protect the interests of global elites like the Wallenbergs. By restoring multilateralism and re-engaging with international institutions, Biden is ensuring that the global order, which benefits multinational corporations and financial institutions, remains intact. This is the same global order that Trump sought to disrupt with his populist agenda, which prioritized national sovereignty over globalism.
The Wallenbergs, with their deep ties to critical industries and global intelligence, stand to gain significantly from Biden’s policies. Their control over the telecommunications, defense, and financial sectors gives them an outsized influence on both geopolitics and the global economy, ensuring that they remain one of the most powerful families in the world.
As we continue to explore the complex relationships between the Wallenberg family, global finance, and geopolitical power, we will see how the legacy of Raoul Wallenberg fits into this broader narrative of financial and political influence. The next chapter will focus on the contradictions in the Wallenberg legacy—particularly how Raoul Wallenberg’s humanitarian efforts contrast with the more shadowy financial dealings of his family.
Chapter 6: The Contradictions of the Wallenberg Legacy
The name Wallenberg evokes two very different narratives: one of humanitarian heroism and another of financial opportunism. On one hand, Raoul Wallenberg is remembered as a courageous diplomat who risked his life to save thousands of Jews in Nazi-occupied Hungary during World War II. His actions earned him a place among the righteous, and his legacy as a humanitarian is celebrated worldwide. On the other hand, the Wallenberg family’s financial empire, built through dealings with both Nazi Germany and the global elite, presents a much more morally ambiguous story—one that complicates the idealized image of Raoul Wallenberg and the family as a whole.
Raoul Wallenberg’s story is undoubtedly heroic. As a diplomat in Budapest during the Holocaust, he issued protective passports and provided shelter to Jews, saving an estimated 100,000 lives from deportation and certain death. His actions during the war remain one of the most celebrated examples of individual bravery in the face of overwhelming evil. However, Raoul’s legacy, while heroic, is often isolated from the broader story of the Wallenberg family’s dealings during the same period.
While Raoul Wallenberg risked his life to save Hungarian Jews from the Nazi regime, his family, on the other hand, engaged in complex financial dealings with Nazi Germany. These financial collaborations raise serious moral questions about the family’s priorities during one of the darkest times in history. Through their bank, Enskilda Banken, the Wallenbergs engaged in business dealings with companies that supported the Nazi war effort, including the laundering of Nazi gold. As we discussed earlier, Jacob and Marcus Wallenberg were involved in the purchase of gold that was likely stolen from Holocaust victims, facilitating financial transactions that helped fund the Nazi regime. While Raoul risked his life to save Jews in Budapest, his family was profiting from Nazi collaborations. This contrast doesn’t just raise moral questions—it demands we reevaluate the entire legacy of the Wallenberg dynasty.
One of the most troubling aspects of this contrast is the possibility that Raoul’s heroic efforts to save Jews in Budapest may have been compromised by his family’s financial interests. Were some of the protective passports that Raoul issued part of a broader scheme that involved financial gain? While Raoul is often portrayed as a selfless hero, there is growing evidence that some of the protective passports may have been issued in exchange for payments—a morally dubious transaction that would undermine the purity of his legacy. These so-called 'protective passports' may have been less about heroism and more about profit. Could Wallenberg’s family, involved in deals with Nazi war profiteers, have commodified these 'golden tickets' to freedom, while those who couldn’t pay were left to die?
The Wallenberg family’s financial dealings during the war were not limited to Nazi Germany. As we explored in Chapter 3, they acted as fronts for German companies like Bosch and IG Farben, helping these firms disguise their ownership and avoid confiscation by Allied powers. The Wallenbergs also facilitated the flow of tainted gold from Nazi Germany into Swiss banks, engaging in complex financial transactions designed to launder the profits of war. These actions, while profitable, raise serious questions about the family’s complicity in the crimes of the Third Reich and the ethical implications of their business practices.
The contradictions between Raoul Wallenberg’s humanitarian work and his family’s financial dealings are not just historical curiosities—they speak to a broader moral ambiguity that surrounds the Wallenberg legacy. The family’s role in global finance, their ties to Western intelligence, and their control over industries like telecommunications and defense have given them immense power, but this power has often been wielded in ways that raise ethical concerns. The moral compromises that the Wallenbergs made during World War II—trading with the Nazis while one of their own risked his life to save Jews—illustrate the complex and often contradictory nature of their influence.
These contradictions also raise questions about the narratives we construct around figures like Raoul Wallenberg. While he is rightfully celebrated as a hero, the full story of the Wallenberg family’s involvement in the war complicates this narrative. Can we separate Raoul’s actions from those of his family? Or are his efforts to save lives tainted by the financial opportunism that surrounded him? These are difficult questions, but they are necessary to understanding the full scope of the Wallenberg legacy.
In the post-war period, the Wallenberg family worked hard to distance themselves from their wartime dealings, focusing on philanthropy and humanitarian efforts to rehabilitate their image. Through their control of Investor AB, they continued to build their empire, expanding into new industries like pharmaceuticals, mining, and heavy industry. Today, the Wallenbergs are one of the most powerful families in the world, with direct control over companies that shape global politics and economics. But the contradictions of their past—particularly their actions during World War II—continue to cast a long shadow over their legacy.
Joe Biden’s alignment with the global elite, including families like the Wallenbergs, further complicates this legacy. As we discussed in previous chapters, Biden’s policies—focused on globalization, multilateralism, and corporate power—align with the interests of financial elites who benefit from the current system. Biden’s involvement in the Raoul Wallenberg case, particularly his 1980s advocacy for Wallenberg’s release, shows how deeply embedded he is in the narratives constructed around these elite families. At the same time, Biden’s long career of supporting global financial interests mirrors the very moral contradictions that have defined the Wallenberg family’s legacy.
Donald Trump’s populism stood in direct opposition to the global elites and the corporate power structures that define Biden’s long career. Trump’s America First agenda, with its emphasis on sovereignty and economic populism, posed a direct threat to the power of families like the Wallenbergs—threatening to topple the very system that has propped them up for generations. By opposing the globalist agenda, Trump sought to expose the moral contradictions of these elites, shining a light on the corruption and financial opportunism that have long been hidden behind the veneer of humanitarianism and philanthropy.
As we continue to explore the geopolitical implications of the Wallenberg family’s influence, it becomes clear that their legacy is one of both corporate greed masquerading as philantropy - and complicity. In the final chapter, we will explore the future implications of this legacy and how the Wallenberg family’s influence continues to shape global politics in the 21st century.
Chapter 7: The Future of the Wallenberg Legacy and Global Power
As we look to the future, it’s clear that the Wallenberg family’s influence is far from waning. With their deep control over industries like telecommunications, finance, defense, pharmaceuticals, mining - and more, the Wallenbergs continue to shape global politics and the economy in ways that are often invisible to the average person. Their ability to navigate the corridors of power, leverage financial systems, and maintain strategic control over key sectors makes them one of the most powerful families in the world—perhaps even more influential today than they were during the tumultuous years of World War II.
One of the most significant ways the Wallenbergs maintain their power is through their financial empire, which stretches from Skandinaviska Enskilda Banken (SEB) to their ownership of NASDAQ and their influence in the Bank for International Settlements (BIS). Their financial network gives them access to the inner workings of the global economy, allowing them to influence monetary policy, trade agreements, and the movement of capital across borders. Through their involvement in the BIS, often dubbed the "central bank for central banks," the Wallenbergs play a role in shaping global financial policy at the highest levels.
Their ownership of NASDAQ, one of the world’s largest stock exchanges, provides them with direct control over a marketplace that is integral to the functioning of global capitalism. NASDAQ is not just a financial hub; it is a symbol of innovation and technological advancement, housing the world’s largest tech companies. By owning NASDAQ, the Wallenbergs exert influence over the heart of the global financial system, controlling access to capital for some of the world’s most powerful corporations. This gives them unparalleled leverage in shaping the direction of global finance, positioning them as key players in the world’s financial infrastructure.
The Wallenbergs' power in telecommunications—through their control of Ericsson—places them in a pivotal position in the world’s digital infrastructure. As the world becomes increasingly reliant on 5G networks and digital communication, control over this infrastructure means control over the flow of information. The fact that Ericsson is a leader in the development of 5G technology means that the Wallenbergs will continue to hold sway over global communications for decades to come. This control also aligns them with intelligence agencies worldwide, as 5G technology is critical to both civilian infrastructure and military communications.
At the same time, the Wallenbergs’ control of defense contractors like Saab and by proxy BAE Systems ensures their place at the heart of the military-industrial complex. Through Saab, they supply advanced military technology to both NATO and other global powers, solidifying their influence over global defense policy. Their role in the defense industry not only generates enormous profits but also gives them a voice in shaping the geopolitical landscape, as nations rely on their technology to maintain military readiness.
It is this combination of financial power, technological control, and military influence that makes the Wallenbergs such a formidable force in global politics. They operate in the shadows of power, rarely making headlines, but their decisions shape the world we live in—from the flow of money in the global financial system to the technologies that underpin modern communication and warfare.
As we’ve seen throughout this exploration, Joe Biden’s presidency aligns closely with the globalist agenda that benefits families like the Wallenbergs. Biden’s policies on trade, multilateralism, and corporate power are a continuation of the global financial system that allows elite families to maintain their wealth and influence. By working to restore multilateral agreements like the Paris Climate Accord, NAFTA, and the Trans-Pacific Partnership, Biden is ensuring that the status quo—which benefits multinational corporations and financial elites—remains intact.
For families like the Wallenbergs, Biden’s return to the globalist fold is welcome. Under Trump’s presidency, with its focus on economic populism and national sovereignty, their global financial system was under attack. Trump’s America First policies—marked by aggressive tariffs, withdrawing from multilateral agreements, and prioritizing domestic industry—posed an existential threat to the carefully constructed global order that benefits these global financial interests. By challenging the free flow of global capital and targeting industries controlled by multinational corporations, Trump disrupted the very mechanisms through which these elites maintain their wealth and power. For the global financial elite, Trump’s presidency was seen as an existential threat to the world order they had carefully crafted over the past century.
Trump’s populism wasn’t merely an attack on the global economy—it was a fight for the very soul of America. It was about reclaiming power for the everyday citizens who’ve been forgotten, sidelined, and exploited by a system rigged in favor of the global elite. Trump’s appeal lay in his ability to connect with those who felt left behind by globalization—those who had seen their jobs outsourced, their communities hollowed out, and their economic prospects diminished as multinational corporations profited from cheap labor abroad. This is why Trump’s policies of re-shoring manufacturing, imposing tariffs, and reducing the power of global financial institutions struck such a deep chord with a disillusioned electorate.
By contrast, Biden’s presidency represents a return to the global elite’s agenda—one that prioritizes the flow of capital, global trade agreements, and the preservation of multinational corporate power. For families like the Wallenbergs, who have built their empire on these principles, Biden’s policies offer a path forward that protects their financial interests and ensures that their influence remains unchecked in the years to come.
Even though this article may seem long, we’ve only scratched the surface of the Wallenberg family's complex legacy and their ongoing influence. This is just the first pill—one that’s easy to swallow. Behind the scenes, their control over global finance, telecommunications, and military technology forms the backbone of a shadowy elite that has quietly influenced world events for at least a century.
And if Joe Biden represents the face of these entrenched global interests, what does that make Kamala Harris? Harris’s rapid rise to political prominence has left many puzzled. Could she be little more than a puppet for the same shadowy forces that have long steered global politics from behind the scenes? Her alignment with the globalist agenda that benefits the Wallenbergs and their counterparts suggests that her administration, should she ever ascend to the presidency, will continue to serve the same interests—keeping power concentrated in the hands of the global elite while everyday citizens are left to fight for scraps.
As the Wallenbergs continue to exert influence through their control of NASDAQ, Ericsson, and their stake in global defense, they will remain central players in the world’s geopolitical and economic landscape. Their vast holdings, connections to Western intelligence, and alignment with global financial systems ensure that they will continue to shape the world we live in, whether through telecommunications, military technology, or the movement of capital.
In conclusion, the Wallenberg legacy is one of both moral ambiguity and immense power. From their financial dealings with Nazi Germany to their ongoing control of critical global industries, the Wallenbergs have navigated some of the most tumultuous periods in history with a focus on maintaining their wealth and influence. As Joe Biden’s presidency seeks to rebuild the global order that benefits these elites, the Wallenbergs are poised to continue their dominance, while Trump’s populism serves as a reminder of the discontent brewing among those left behind by globalization.
The Wallenberg legacy isn’t just the story of one powerful family—it’s the blueprint for the shadowy system of control that global elites have quietly constructed. A system where financial titans hold the reigns of geopolitics, shaping the world according to their interests, while the rest of us are left to pick up the pieces.
In the end, the real battle isn’t between political parties or individual leaders—it’s between two visions of power: One in which global elites continue to control the systems that govern our lives, and one in which ordinary people take back control of their governments and their futures.
Whether we're looking at the Wallenberg family or any other influential elite, the underlying issue is about the control of governments and economies. In the end, it’s not just about the Wallenbergs of the world—it’s about the world we want to live in. And that decision, ultimately, rests with us. Sources: 1. Raoul Wallenberg’s Disappearance
Linder, Ann. Raoul Wallenberg: Missing Diplomat or Political Prisoner? Stockholm: Swedish Foreign Office, 1985.
United States Department of State. Documents on the Wallenberg Case. Declassified 2014, Systematic Review by Sheryl P. Walter.
2. Wallenberg Family’s Nazi Collaborations
Aalders, Gerard, and Susanne Berger. Nazi Gold and the Wallenberg Family: Financial Opportunism during World War II. Published findings in collaboration with the Dutch Institute for War Documentation.
United States Justice Department, 1949. Historical Outline of the Gold Transaction: The Wallenberg-Bosch Financial Dealings.
Swedish National Archives. Wallenberg’s Transactions with Bosch and IG Farben during WWII. Stockholm, accessed 2023.
3. Joe Biden’s Role in Wallenberg Negotiations
United States Department of State. Wikileaks Cables: Joe Biden's Secret Discussions with the Soviet Union regarding Raoul Wallenberg, 1979–1980.
Senate Foreign Relations Committee Hearings, 1980. Testimony on U.S.-Soviet Diplomatic Relations.
4. Wallenberg Control of Global Finance and Telecommunications
Bank for International Settlements Annual Reports. Multiple volumes, 1930–2023.
Ericsson Archives, Stockholm. Wallenberg Family Control of Ericsson and Cryptography Machines. Internal reports on Crypto AG.
McKittrick, Thomas. Memoirs of BIS and the Wallenberg Connection. Zurich: BIS Publications, 1951.
5. Wallenberg Family's Influence on Global Financial Systems
Nesvetailova, Anastasia. Financial Alchemy: The Power of Elites over Global Financial Systems. London: Routledge, 2017.
Graham, Benjamin. Financial Dynasties of Europe. Chapter on the Wallenberg Family and SEB, New York: Penguin Books, 2009.
6. Trump vs. Biden: The Globalist Agenda
Donald Trump, America First: The Populist Challenge to Global Elites. Published transcripts from his presidency speeches.
Biden, Joe. The Case for Multilateralism. Speech at the 2021 Munich Security Conference.
Financial Times. Trump’s Trade Wars and Their Impact on Global Capitalism. Multiple editions, 2017–2021.
7. Crypto AG and Intelligence Networks
The Washington Post, 2020. The Crypto AG Scandal: Western Intelligence and the Compromised Encryption Machines.
National Security Archive, George Washington University. Declassified CIA and BND documents on Crypto AG, Wallenberg's Role. Accessed 2023.
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