Friday, March 23, 2012

History lesson (The big bust of '29)

Louis McFadden, Chairman of the House Banking Committee at the time, said this: "The great depression was not accidental. It was a carefully contrived occurrence. International bankers sought to bring about a condition of despair so that they might emerge as rulers of us all."

The manager of Lehman Brothers in 1929 had this to say: "Actually, it was a 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."

Insiders like Rockefeller and Morgan got out of the market ahead of the crash. Joe Kennedy, a favored insider, saw his fortune grow from $4 Million in 1929 (which was mostly made boot legging) to $100 million by 1935. The great depression made a few folks very rich. The players may have changed and the uniforms are different, but the team owners are the same.

History books say the crash of '29 was the result of over-speculation. The real culprit was the Federal Reserve Bank which increased the money supply by 62% between 1923 and 1929. Does this remind you of anything that's happening right now? Get ready for the fleecing!

As Casey Stengal, the famous old baseball manager, would say, "You can look it up!"

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