Does America have a hidden oligarchy? Is U.S. foreign policy run by a closed shop? What is the Council on Foreign Relations? It began in 1921 as a front organization for J.P. Morgan and Company. By World War II it had acquired unrivaled influence on American foreign policy. Hundreds of U.S. government administrators and diplomats have been drawn from its ranks – regardless of which party has occupied the White House. But what does the Council on Foreign Relations stand for? Why do the major media avoid discussing it?