Where Should I Invest?
Recently, I wrote a blog about Billionaire oilman John D. Rockefeller and mentioned his personal advisor, Frederick T. Gates. Frederick was the architect that enabled Rockefeller to create the University of Chicago, the American Medical Association, the General Education Board, and formed the Rockefeller Institute for Medical Research. These institutions are privately owned by the Rockefellers and are the foundation and authority of the U.S. Healthcare system. Conspiracy views aside, the only way to acquire a medical license or to get paid by insurance companies is to be accredited by institutions adhering to the AMA standards.
In my blog about Rockefeller, I noted pharmaceuticals are created from as much as 99% of petrochemical sources. Once again, these are the facts. So, I was curious, and I checked out how an oilman becomes the world's healthcare leader. As a result, his family controls education, licensing, medicine (prescription drugs), and vaccine creation (see Rockefeller Institute).
Consequently, Frederick T. Gates's name kept popping up. It turns out that Frederick started his career as a clergyman. He graduated from the University of Rochester in 1877 and the Rochester Theological Seminary in 1880.
From 1880 to 1888, Gates served as pastor of the Central Baptist Church in Minneapolis, Minnesota. He left the ministry and joined a group to raise $50,000 for the Pillsbury Academy.
Subsequently, after a successful campaign, Fredrick became the secretary of the newly formed American Baptist Education Society, where he championed a Baptist university in Chicago to fill a void in Baptist Education. Furthermore, he met lifetime Baptist John D. Rockefeller a year later and proposed that Rockefeller fund the Baptist University of Chicago; he subsequently served many years as a trustee (influential member) on its board.
Throughout the years, Gates became a critical philanthropic and business adviser to John and his family. Most importantly, he established a family office (a privately held company that handles investment and wealth management for wealthy families) with infrastructure, including professional and administrative staff, that took everything from wealth management to the needs of family members. He circumvented the costly practice of contracting larger firms to manage the family's business affairs by hiring experts. It was one of the first instances of the modern single-family office (SFO).
As Frederick became more active in wealth management for the Rockefeller family, the more he started to see the opportunity to possess specific business verticles that would create recurring revenue. Most importantly, Gates steered Rockefeller Sr.'s money predominantly to conglomerates arranged by the investment house of Kuhn, Loeb & Co., and, to a lesser extent, the house of J. P. Morgan.
Most importantly, Gates knew he needed specific families to support the Rockefeller initiatives and the political backing necessary to gain market share. With this alliance, Frederick became a board member of many companies with which Rockefeller engaged. As a result, he also served as president of the General Education Board, now known as the Rockefeller family institution.
I Trustee You
In a few years, Gates was able to conceive the Rockefeller Institute for Medical Research (now Rockefeller University), of which he was board president. He then developed the Rockefeller Foundation, where he was appointed a trustee in 1913. Finally, Gates served as president of the General Education Board (Rockefeller Foundation funded), which became the leading foundation in the field of education for healthcare. Consequently, the Rockefeller family controls all medical research, certification, education, and distribution.
Here is a partial list of the significant offices held by Frederick T. Gates.
· Original Trustee of the Rockefeller Foundation
· A trustee (1902-1917) and chairman (1907-1917) of the General Education Board.
· Chairman of the Rockefeller Sanitary Commission
· Trustee of the University of Chicago
· Trustee of the Rockefeller Institute for Medical Research (1909-1929)
· Member of the International Health Commission Board (1913-1923)
· Member of the China Medical Board
(1914 - 1924)
· Trustee of the Peking Union Medical College
The more You Know
As John Sr. was moving on in age, John D. Rockefeller, Jr. took control of philanthropic policies, with Gates descending to the secondary level. Moreover, Frederick decided to go after a new frontier. He focused on China and started the process of taking over the Peking Union Medical College. Working at the intersection of philanthropy, imperialism, big business, religion, and science, the China Medical Board was his last major assignment.
Furthermore, Gates would meet the world he had created head-on. Frederick was so determined to make a higher standard of medicine model in China that it would render the U.S. model obsolete. So, he asked his friends, the Rockefeller Foundation Board, to invest $265 million ($4.2 billion today) in the China Medical Board. The Board refused, and the U.S. experts on China and medicine disagreed that China was a strategic investment. Consequently, Gates resigned from the CMB.
One Person can Make a Difference
In the totality of Frederick's life, he can be considered a significant influencer for control and industry dominance or an advocate for efficiency. That is to say that Gates was a key creator of the U.S. Healthcare system as we know it. What pivotal ideas can we take away from his life, and what areas can we progressively apply?