[color="#008080"][size="4"]Part XV[/size][/color][size="4"][color="#008080"][size="2"] (of XVIII)[/size] :[/color][/size][color="#008080"][size="4"] The Great Depression[/size][/color]
Shortly after WWI, the overall political agenda of The Money Changers began to be clear. Now that they controlled national economies individually, the next was the ultimate form of consolidation: World Government.
[color="#ff00ff"]{ Note: {Timeline: Present} This is what is nowadays being referred to as the New World Order }[/color]
[size="3"][color="#008080"][font="Arial"]# The League of Nations[/color][/size]
The new world government proposal was given top priority at the Paris peace conference after WWI. It was called The League of Nations.
But much to the surprise of Paul Warburg and Bernard Baruch, who attended the peace conference with president Wilson, the world was not yet ready to dissolve national boundaries. Nationalism still beat strong in the human breast.
For example Lord Curson, the British foreign secretary, called the League of Nations a good joke, even tough it was the British policy to support it. To the humiliation of president Wilson, the U.S. congress wouldn't the ratify the League either.
Despite the fact that it had been ratified by many other nations, without money flowing from the U.S. treasury, the League died.
[/font][size="3"][color="#008080"][font="Arial"]# The Roaring Twenties, and the genesis of the Crash[/color][/size][/font]
After WWI, the American public had grown tired of the internationalist policies of the democrat Woodrow Wilson.
In the presidential election of 1920, republican Warren Harding won a landslide victory. Harding was a ardent follower of both bolshevism and the League of Nations.
His election, which opened a 12 year run of republican presidency in the White House, led to an unprecedented prosperity known as The Roaring Twenties. Despite the fact that the war had brought America a debt ten times larger than its civil war did, still the American economy surged. Gold had poured into the country and continued to do so afterwards.
After his inauguration, Harding moved quickly to formally kill the League of Nations. Then he quickly moved to reduce domestic taxes while raising tariffs to records heights.
Now, this was a revenue policy of which most of the founding fathers would certainly have approved.
His second year in office Harding took ill on a train trip in the west and suddenly died. Although no autopsy was performed the cause was said to be, either pneumonia or food poisoning.
When Calvin Coolidge took over, he continued Harding's domestic economic policy of high tariffs on imports while cutting income taxes.
During the the presidencies of Warren Harding and Calvin Coolidge, the huge federal debt built up during WWI was cut by 38% down to $16 billion , the greatest percentage drop in U.S. history.
As a result the economy grew at such a rate that net revenue still increased.
Now that had to be stopped!!
In the early 1920s, the governor of the Federal Reserve Bank of New York, Benjamin Straw, met frequently with the secretive and eccentric governor of The Bank of England, Montague Norman. Norman was determined to replace the gold England had lost to the US during WWI, and return The Bank of England to its former dominance in world finance.
On top of that, rich with gold the American economy might get out of control again, just as it had done just after the civil war.
So just as they had done so frequently before, The Money Changers decided it was time to crash the American economy.
The Federal Reserve began flooding the country with money.
They increased the money supply by 62% during these years.
Money was plentiful.
This is why it is know as The Roaring Twenties.
Before his death in 1919, former president Teddy Roosevelt warned the American people what was going on. As reported in the March 27th 1922 edition of The New York Times Roosevelt said:
[indent][font="Courier New"]"[color="#ff0000"]These international bankers and Rockefeller-Standard Oil interests control the majority of newspapers and the columns of the papers to club into submission or drive out of public office officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government.[/color]"[/font]
[/indent]
Just one day before in the New York Times the mayor of New York, John Hylan, quoted Roosevelt and blasted those he saw as taking control over America, its political machinery and its press:
[indent][font="Courier New"]"The warning of Theodore Roosevelt has much timeliness today, for [color="#ff0000"]the real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation.... It seizes in its long and powerful tentacles our executive officers, our legislative bodies, our schools, our courts, our newspapers, and every agency created for the public protection[/color].... To depart from mere generalizations, let me say at [color="#ff0000"]the head of this octopus are the Rockefeller-Standard Oil interest and a small group of powerful banking houses generally referred to as the international bankers[/color]. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes.... They practically control both parties, write political platforms, make cats paws of party leaders, use the leading men of private organizations, and resort to every device to place in nomination for high public office only such candidates as will be amenable to the dictates of corrupt big business.... These international bankers and Rockefeller-Standard Oil interests control the majority of newspapers and magazines in the country."[/font]
[/indent]
Why did people not listen to such strong warnings and demand that congress reverse its 1913 passage of the Federal Reserve Act?
Because, remember it was the 1920's. A steady increase in bank loans contributed to a rise in market.
In other words, just as it is today, in times of prosperity no one wants to worry about economic issues.
But there was a dark side to all this prosperity.
Business was expanded and became strung out on credit. Speculation on the booming stock market became rapid.
Although everything looked rosy, it was a castle made of sand.
[size="3"][color="#008080"][font="Arial"]# The Crash[/color][/size][/font]
When all was in readiness in April 1929, Paul Warburg, the father of the Federal Reserve, sent out a secret advisory, warning his friends that a collapse and nation wide depression was certain.
In August of 1929, the Fed began to tighten money.
[color="#ff0000"]It is not a coincidence that the biography of all the Wall Street giants of that era -- John D. Rockefeller, J.P. Morgan, Joseph Kennedy, Bernard Baruch etc -- all marvelled that they got out of the stock market just before the crash and put all their assets in cash or gold.
[/color]
Henry Pasquet:
[indent][font="Courier New"] "In 1970 I was assigned the Elgie Hasken(???) field near Boston, Massachussetts in Bedford; and one of the oldest civilian mechanics was working for me as aircraft inspector, his name was Ed Carrigon, and Ed had grown up in that area and he and his father had gone to the same church with Jo Kennedy. And Ed related to me in 1971 that he remembered a knock at the door, he went over, opened the door and it was Jo Kennedy. So he ushered Jo Kennedy in his house, and he and his father talked and Ed sat between the two of them. This was in 1929, the summer of 1929. And Jo Kennedy told Ed's father, sell all of your stock, now, don't ask any questions. That was the quote of Jo Kennedy. And Ed related that to me and his said it was still crystal clear in his mind and it really struck him: why would Jo say this? So Jo left, His father asked no questions, He went out and sold all his stock in the summer of 1929 and we all know what happened that October."[/font]
[/indent]
On October 24th 1929, the big New York bankers called in their 24-hours broker call loans. This meant that both stock brokers and customers had to dump their stocks on the market to cover loans, no matter what price they had to sell them for.
As a result the market tumbled and that day was known as Black Thursday.
According to John Kenneth Galbraith, riding in the great crash 1929, at the height of the selling frenzy, Bernard Baruch brought Winston Churchill into the businesses gallery of New York stock exchange chair to witness the panic and impress him with his power over the wild events down on the floor.
Congressman Louis McFadden, chairman of The House Committee on Banking and Currency, 1920 to 1931, knew who was to blame. He accused the Fed and the international bankers of orchestrating the crash:
[indent][font="Courier New"]"It was not accidental. It was a carefully contrived occurrence.... The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all."[/font]
[/indent]
But McFadden went even farther. He openly accused them of causing the crash in order to steel America's gold. In February 1931, in the midst of the depression, he put it this way:
[indent][font="Courier New"]"I think it can hardly be disputed that the statesman and financiers of Europe are ready to take almost any means to reacquire rapidly the gold stock which Europe lost to America as the result of World War I".[/font]
[/indent]
Curtis Dall, a broker for the Lehman brothers, was on the floor of the New York stock exchange the day of the crash. In his 1970 book 'FDR, My exploited father in law' he explain that the crash was triggered by the planned sudden shortage call money in the New York money market:
[indent][font="Courier New"]"Actually, it was the calculated 'shearing' of the public by the World-Money powers triggered by the planned sudden shortage of call money in the New York Money Market."[/font]
[/indent]
And what did the Federal Reserve do?
Instead of moving the help the economy out, by quickly lowering interest rates, to stimulate economy, the Fed continued to brutally contract the money supply further, deepening the depression.
Between 1929 and 1933 the Fed reduced the money supply by an additional 33%.
Although most Americans have never heard that the Fed was the cause of the depression, this is well known amongst the top economists.
Milton Friedman, the Nobel prize winning economist, now of Stanford University, said the same thing in a national public radio interview in 1969:
[indent][font="Courier New"]"The Federal Reserve definitely caused the Great Depression by contracting the amount of currency in circulation by one-third from 1929 to 1933."[/font]
[/indent][size="3"][color="#008080"][font="Arial"]# Money - whence it came, where it went[/color][/size][/font]
In the Crash, within a few weeks $3 billion of wealth simply seemed to vanish.
Within a year $40 billion had been lost.
But did it really disappear?
Or was it simply consolidated in fewer hands?
Joseph P. Kennedy's worth for example grew from $4 million in 1929 to over $100 million by 1935.
But [color="#ff0000"]the money lost by most Americans during the depression didn't just vanish. It was just redistributed[/color] into the hands of those who had gotten out just before the crash and had purchased gold, which is always a save place to put your money just before a depression.
But America's money also went overseas.
Incredibly, as president Hoover was heroically trying to rescue banks and proper businesses, with millions of Americans starving as the great depression deepened, millions of dollars were being spent rebuilding Germany from damage sustained during WWI.
Eight years before Hitler would invade Poland.
Representative Louis McFadden warned congress that Americans were paying for Hitler's rise to power.
[indent][font="Courier New"]"After WWI, Germany fell into the hands of the German international bankers. Those bankers bought her and they now own her, lock, stock, and barrel. They have purchased her industries, they have mortgages on her soil, they control her production, they control all her public utilities.[/font]
[font="Courier New"]The international German bankers have subsidized the present Government of Germany and they have also supplied every dollar of the money Adolph Hitler has used in his lavish campaign to build up a threat to the government of Bruening.[/font]
[font="Courier New"]When Bruening fails to obey the orders of the German International Bankers, Hitler is brought forth to scare the Germans into submission...[/font]
[font="Courier New"]Through the Federal Reserve Board ... over $30 billions of American money ... has been pumped into Germany .... You have all heard of the spending that has taken place in Germany... modernistic dwellings, her great planetariums, her gymnasiums, her swimming pools, her fine public highways, her perfect factories. All this was done on our money. All this was given to Germany through the Federal Reserve Board.[/font]
[font="Courier New"]The Federal Reserve Board ... has pumped so many billions of dollars into Germany that they dare not name the total."[/font]
[/indent]
In his last year in office, president Hoover desperately put forward a plan to bail out the failing banks. But he needed support from the democratic congress and that was not to be had.
That same year Franklin D. Roosevelt was swept into office during the 1932 presidential election. Once Roosevelt was in office, however, [color="#ff0000"]sweeping emergency banking measures were immediately announced, which did nothing but increase the Fed's power over the money supply.[/color]
Then, and only then, did the Fed finally begin to loosen the purse-strings and feed new money out to the starving American people.
Stay tuned...
Shortly after WWI, the overall political agenda of The Money Changers began to be clear. Now that they controlled national economies individually, the next was the ultimate form of consolidation: World Government.
[color="#ff00ff"]{ Note: {Timeline: Present} This is what is nowadays being referred to as the New World Order }[/color]
[size="3"][color="#008080"][font="Arial"]# The League of Nations[/color][/size]
The new world government proposal was given top priority at the Paris peace conference after WWI. It was called The League of Nations.
But much to the surprise of Paul Warburg and Bernard Baruch, who attended the peace conference with president Wilson, the world was not yet ready to dissolve national boundaries. Nationalism still beat strong in the human breast.
For example Lord Curson, the British foreign secretary, called the League of Nations a good joke, even tough it was the British policy to support it. To the humiliation of president Wilson, the U.S. congress wouldn't the ratify the League either.
Despite the fact that it had been ratified by many other nations, without money flowing from the U.S. treasury, the League died.
[/font][size="3"][color="#008080"][font="Arial"]# The Roaring Twenties, and the genesis of the Crash[/color][/size][/font]
After WWI, the American public had grown tired of the internationalist policies of the democrat Woodrow Wilson.
In the presidential election of 1920, republican Warren Harding won a landslide victory. Harding was a ardent follower of both bolshevism and the League of Nations.
His election, which opened a 12 year run of republican presidency in the White House, led to an unprecedented prosperity known as The Roaring Twenties. Despite the fact that the war had brought America a debt ten times larger than its civil war did, still the American economy surged. Gold had poured into the country and continued to do so afterwards.
After his inauguration, Harding moved quickly to formally kill the League of Nations. Then he quickly moved to reduce domestic taxes while raising tariffs to records heights.
Now, this was a revenue policy of which most of the founding fathers would certainly have approved.
His second year in office Harding took ill on a train trip in the west and suddenly died. Although no autopsy was performed the cause was said to be, either pneumonia or food poisoning.
When Calvin Coolidge took over, he continued Harding's domestic economic policy of high tariffs on imports while cutting income taxes.
During the the presidencies of Warren Harding and Calvin Coolidge, the huge federal debt built up during WWI was cut by 38% down to $16 billion , the greatest percentage drop in U.S. history.
As a result the economy grew at such a rate that net revenue still increased.
Now that had to be stopped!!
In the early 1920s, the governor of the Federal Reserve Bank of New York, Benjamin Straw, met frequently with the secretive and eccentric governor of The Bank of England, Montague Norman. Norman was determined to replace the gold England had lost to the US during WWI, and return The Bank of England to its former dominance in world finance.
On top of that, rich with gold the American economy might get out of control again, just as it had done just after the civil war.
So just as they had done so frequently before, The Money Changers decided it was time to crash the American economy.
The Federal Reserve began flooding the country with money.
They increased the money supply by 62% during these years.
Money was plentiful.
This is why it is know as The Roaring Twenties.
Before his death in 1919, former president Teddy Roosevelt warned the American people what was going on. As reported in the March 27th 1922 edition of The New York Times Roosevelt said:
[indent][font="Courier New"]"[color="#ff0000"]These international bankers and Rockefeller-Standard Oil interests control the majority of newspapers and the columns of the papers to club into submission or drive out of public office officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government.[/color]"[/font]
[/indent]
Just one day before in the New York Times the mayor of New York, John Hylan, quoted Roosevelt and blasted those he saw as taking control over America, its political machinery and its press:
[indent][font="Courier New"]"The warning of Theodore Roosevelt has much timeliness today, for [color="#ff0000"]the real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation.... It seizes in its long and powerful tentacles our executive officers, our legislative bodies, our schools, our courts, our newspapers, and every agency created for the public protection[/color].... To depart from mere generalizations, let me say at [color="#ff0000"]the head of this octopus are the Rockefeller-Standard Oil interest and a small group of powerful banking houses generally referred to as the international bankers[/color]. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes.... They practically control both parties, write political platforms, make cats paws of party leaders, use the leading men of private organizations, and resort to every device to place in nomination for high public office only such candidates as will be amenable to the dictates of corrupt big business.... These international bankers and Rockefeller-Standard Oil interests control the majority of newspapers and magazines in the country."[/font]
[/indent]
Why did people not listen to such strong warnings and demand that congress reverse its 1913 passage of the Federal Reserve Act?
Because, remember it was the 1920's. A steady increase in bank loans contributed to a rise in market.
In other words, just as it is today, in times of prosperity no one wants to worry about economic issues.
But there was a dark side to all this prosperity.
Business was expanded and became strung out on credit. Speculation on the booming stock market became rapid.
Although everything looked rosy, it was a castle made of sand.
[size="3"][color="#008080"][font="Arial"]# The Crash[/color][/size][/font]
When all was in readiness in April 1929, Paul Warburg, the father of the Federal Reserve, sent out a secret advisory, warning his friends that a collapse and nation wide depression was certain.
In August of 1929, the Fed began to tighten money.
[color="#ff0000"]It is not a coincidence that the biography of all the Wall Street giants of that era -- John D. Rockefeller, J.P. Morgan, Joseph Kennedy, Bernard Baruch etc -- all marvelled that they got out of the stock market just before the crash and put all their assets in cash or gold.
[/color]
Henry Pasquet:
[indent][font="Courier New"] "In 1970 I was assigned the Elgie Hasken(???) field near Boston, Massachussetts in Bedford; and one of the oldest civilian mechanics was working for me as aircraft inspector, his name was Ed Carrigon, and Ed had grown up in that area and he and his father had gone to the same church with Jo Kennedy. And Ed related to me in 1971 that he remembered a knock at the door, he went over, opened the door and it was Jo Kennedy. So he ushered Jo Kennedy in his house, and he and his father talked and Ed sat between the two of them. This was in 1929, the summer of 1929. And Jo Kennedy told Ed's father, sell all of your stock, now, don't ask any questions. That was the quote of Jo Kennedy. And Ed related that to me and his said it was still crystal clear in his mind and it really struck him: why would Jo say this? So Jo left, His father asked no questions, He went out and sold all his stock in the summer of 1929 and we all know what happened that October."[/font]
[/indent]
On October 24th 1929, the big New York bankers called in their 24-hours broker call loans. This meant that both stock brokers and customers had to dump their stocks on the market to cover loans, no matter what price they had to sell them for.
As a result the market tumbled and that day was known as Black Thursday.
According to John Kenneth Galbraith, riding in the great crash 1929, at the height of the selling frenzy, Bernard Baruch brought Winston Churchill into the businesses gallery of New York stock exchange chair to witness the panic and impress him with his power over the wild events down on the floor.
Congressman Louis McFadden, chairman of The House Committee on Banking and Currency, 1920 to 1931, knew who was to blame. He accused the Fed and the international bankers of orchestrating the crash:
[indent][font="Courier New"]"It was not accidental. It was a carefully contrived occurrence.... The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all."[/font]
[/indent]
But McFadden went even farther. He openly accused them of causing the crash in order to steel America's gold. In February 1931, in the midst of the depression, he put it this way:
[indent][font="Courier New"]"I think it can hardly be disputed that the statesman and financiers of Europe are ready to take almost any means to reacquire rapidly the gold stock which Europe lost to America as the result of World War I".[/font]
[/indent]
Curtis Dall, a broker for the Lehman brothers, was on the floor of the New York stock exchange the day of the crash. In his 1970 book 'FDR, My exploited father in law' he explain that the crash was triggered by the planned sudden shortage call money in the New York money market:
[indent][font="Courier New"]"Actually, it was the calculated 'shearing' of the public by the World-Money powers triggered by the planned sudden shortage of call money in the New York Money Market."[/font]
[/indent]
And what did the Federal Reserve do?
Instead of moving the help the economy out, by quickly lowering interest rates, to stimulate economy, the Fed continued to brutally contract the money supply further, deepening the depression.
Between 1929 and 1933 the Fed reduced the money supply by an additional 33%.
Although most Americans have never heard that the Fed was the cause of the depression, this is well known amongst the top economists.
Milton Friedman, the Nobel prize winning economist, now of Stanford University, said the same thing in a national public radio interview in 1969:
[indent][font="Courier New"]"The Federal Reserve definitely caused the Great Depression by contracting the amount of currency in circulation by one-third from 1929 to 1933."[/font]
[/indent][size="3"][color="#008080"][font="Arial"]# Money - whence it came, where it went[/color][/size][/font]
In the Crash, within a few weeks $3 billion of wealth simply seemed to vanish.
Within a year $40 billion had been lost.
But did it really disappear?
Or was it simply consolidated in fewer hands?
Joseph P. Kennedy's worth for example grew from $4 million in 1929 to over $100 million by 1935.
But [color="#ff0000"]the money lost by most Americans during the depression didn't just vanish. It was just redistributed[/color] into the hands of those who had gotten out just before the crash and had purchased gold, which is always a save place to put your money just before a depression.
But America's money also went overseas.
Incredibly, as president Hoover was heroically trying to rescue banks and proper businesses, with millions of Americans starving as the great depression deepened, millions of dollars were being spent rebuilding Germany from damage sustained during WWI.
Eight years before Hitler would invade Poland.
Representative Louis McFadden warned congress that Americans were paying for Hitler's rise to power.
[indent][font="Courier New"]"After WWI, Germany fell into the hands of the German international bankers. Those bankers bought her and they now own her, lock, stock, and barrel. They have purchased her industries, they have mortgages on her soil, they control her production, they control all her public utilities.[/font]
[font="Courier New"]The international German bankers have subsidized the present Government of Germany and they have also supplied every dollar of the money Adolph Hitler has used in his lavish campaign to build up a threat to the government of Bruening.[/font]
[font="Courier New"]When Bruening fails to obey the orders of the German International Bankers, Hitler is brought forth to scare the Germans into submission...[/font]
[font="Courier New"]Through the Federal Reserve Board ... over $30 billions of American money ... has been pumped into Germany .... You have all heard of the spending that has taken place in Germany... modernistic dwellings, her great planetariums, her gymnasiums, her swimming pools, her fine public highways, her perfect factories. All this was done on our money. All this was given to Germany through the Federal Reserve Board.[/font]
[font="Courier New"]The Federal Reserve Board ... has pumped so many billions of dollars into Germany that they dare not name the total."[/font]
[/indent]
In his last year in office, president Hoover desperately put forward a plan to bail out the failing banks. But he needed support from the democratic congress and that was not to be had.
That same year Franklin D. Roosevelt was swept into office during the 1932 presidential election. Once Roosevelt was in office, however, [color="#ff0000"]sweeping emergency banking measures were immediately announced, which did nothing but increase the Fed's power over the money supply.[/color]
Then, and only then, did the Fed finally begin to loosen the purse-strings and feed new money out to the starving American people.
Stay tuned...