Thursday, October 14, 2010
The Fed's Great Depression
In 1913 Congressman Lindbergh warned that the Federal Reserve System “establishes the most gigantic trust on earth. When the President signs this act, the invisible government by the monetary power will be legitimized. The new law will create inflation whenever the trusts want inflation. From now on, depressions will be scientifically created.”
After the bankers finished profiting from the world war, they decided to cause an economic depression in the U.S. so that they could further buy up the market, further expand government, and further control the American people. Creating booms, busts, recessions and depressions is completely scientific when you decide the amount of money printed and circulated. As Nobel-Prize winning economist, Milton Freidman said, “The Federal Reserve definitely caused the Great depression by contracting the amount of currency in circulation by one-third from 1929 to 1933.”
“To think that the Crash of 1929 was an accident or the result of stupidity defies all logic. The international bankers who promoted the inflationary policies and pushed the propaganda which pumped up the stock market represented too many generations of accumulated expertise to have blundered into the Great Depression …It was the game of boom and bust, using economic crisis to consolidate political power at the top where it can be most easily controlled. The major cause of the economic collapse was the deliberately created credit inflation by the Federal Reserve. In six years it had inflated the money supply by sixty-two %, inducing market speculations and unwise investments by middle Americans who were being set up for a shearing. When the shearing came, the sheep took a realistic look at their economy and panicked. Optimism was replaced by economic despair; despair produced a willingness to accept a major expansion of government controls over the economy.” -Gary Allen, “The Rockefeller File”
During the depression Congressman Louis T. McFadden was a very outspoken voice against the Federal Reserve. Regarding the Great depression he said, “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.” In 1932 he said, “We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board has cheated the people of the United States out of enough money to pay the national debt three times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our government. It has done this through the defects of the law under which it operates, through the maladministration of the law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.” Proceeding McFadden’s activism he received a series of death threats, and then died of food poisoning shortly after under suspicious circumstances.
"The real truth of the matter is that a financial element in the large centers has owned the government since the days of Andrew Jackson" -US President Franklin D. Roosevelt, 1933
“Once Inflation or Deflation has been documented, the government economists point with pride at the supposed perpetrators: the public. They never direct their attention at the real culprit in America: the privately owned Federal Reserve System. This private banking establishment has complete control over the quantity of money in circulation. Therefore, they have the ability to create Inflation or Deflation whenever they choose to do so.” -Ralph Epperson, “The New World Order” (243)
Since the Great depression, the Federal Reserve bankers have continued to manipulate the market for their own gain and done so through periodic planned market plunges after which they buy up all they can. In 1936-37 Stock prices plummeted 50%, in 1948 dropped 16%, in 1953 down 13%, 1956-57 down 13% and late in 57 down another 19%. It has continued like this every few years until today.
In 1963, President Kennedy passed Executive Order 11110 which stripped the Federal Reserve from its power to loan money to the U.S. government. It also called for the printing of $450 Billion dollars in U.S. backed Debt-Free currency and gave the Treasury Department the authority to issue silver certificates against the treasury’s silver holdings. Six months after this JFK was killed. As soon as his successor, Lyndon Johnson took office, the first thing he did was suspend the printing of JFK’s silver certificates, and took them out of circulation.
Posted by Xelith at 2:54 AM