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The Stock
Market Crash and Depression
In the wake of
Wilson's vow no central bank would be created, Hoover promises permanent
prosperity:
"We have not yet reached the goal, but given a chance to go forward with
the policies of the last eight years, and we shall soon, with the help
of God, be within sight of the day when poverty will be banished from
the nation." So said Herbert Hoover on August 12, 1928, in his speech
accepting the Republican nomination for President.
Hoover spoke for most middle-class people. They thought the American
dream of unlimited plenty was close to fulfillment. The huge industrial
machine that had begun building up during the Civil War had reached
fantastic heights of mass production. Assembly lines poured out products
by the millions, while advertising stimulated the consumer to buy them.
From privy, ice-box, and buggy the country moved almost overnight into
the New Era of bathrooms, electric refrigerators, and automobiles.
Washing machines, vacuum cleaners, and telephones promised to make life
easier and more convenient. Homemade amusements gave way to radio and
the movies. American business and American salesmanship had put the
nation aboard an express train rushing toward permanent prosperity. 1
The Federal Reserve Board held a secret meeting on May 18, 1920, to plan
a depression. Large banks began calling in loans, causing stocks to drop
from a high of 138.12 in 1919, to a low of 66.24 in 1921. When the value
of government bonds plummeted, they were forced to call in even more
loans. When thousands of the banks' customers could not pay their notes,
the banks seized their assets.
After 1922, profits rose, and with the Federal Reserve's ability to lend
ten times more than their reserves, credit was easily obtained. From
1923 to 1929, $8 billion was sliced off of the deficit. The Reserve
expanded the money supply by 62%, and this excess money was used to bid
the stock market up to fantastic heights. The media began publicizing
that there was an enormous profit to be made from the stock market. This
push was planned at a meeting of the International Bankers in 1926, who
made the boom possible, and who were going to bring about financial
disaster later.
In 1928, the House hearings on the Stabilization of the Purchasing Power
of the Dollar, revealed that the Federal Reserve Board had met with the
heads of various European central banks at a secret luncheon in 1927 to
plan what they believed may be a major crash. On February 6, 1929, after
Montagu Norman, Chairman of the Bank of England, came to the United
States to meet with Andrew Mellon, the Secretary of Treasury, the
Reserve reversed its monetary policy by raising the discount rate, and
during the next few months, after Paul Warburg had issued a tip in
March, 1929, Illuminati members, who knew what the future held, got
their money out of the stock market, reinvesting it in gold and silver.
In the year before the crash, 500 banks failed.
On October 24, 1929, the New York banking establishment began calling in
their loans, forcing their customers to sell stock at ridiculously low
prices in order to pay off the loans. Stock prices fell by 90%, and U.S.
Securities lost $26 billion. Thousands of smaller banks and insurance
companies went bankrupt, and people who had been millionaires, were now
broke. To prolong the depression after the crash, from 1929 to 1933, the
Reserve began to reduce the money flow by one-third.
The Great Depression, as it became known, was engineered by the
Illuminati to take money from the people, and to make them dependent on
the Government through the subsequent New Deal programs of Roosevelt.
Congressman Louis T. McFadden, Chairman of the House Banking and
Currency Committee said: "It was no accident. It was a carefully
contrived occurrence ... The International Bankers sought to bring about
a condition of despair here so they might emerge as the rulers of us
all."
To a limited extent, this same method was used to create minor
'depressions' in 1937, 1948, 1953, 1956, 1960, 1966, 1970, and 1979.
In his book, My Exploited Father-in-Law by Curtis Dall (son-in-law of
Franklin D. Roosevelt) wrote: "The depression was the calculated
'shearing' of the public by the World Money powers, triggered by the
planned sudden shortage of supply of call money in the New York money
market . The One World Government leaders and their ever close bankers
have now acquired full control of the money and credit machinery of the
U.S. via the creation of the privately owned Federal Reserve Bank."
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