Apparently congress was aware of the scheme of the international bankers and recognized the danger that the republic was in. Congressman Lindberg said in a Congressional Record dated, December 22, 1913, vol. 51, “This new law [the Federal Reserve Act] will create inflation whenever the trusts want inflation. It may not do so immediately, but … if the trusts can get another period of inflation, they figure they can unload the stocks on the people at high prices during the excitement and them bring on a panic and buy them back at low prices… The people may not know it immediately, but the day of reckoning is only a few years removed.”
“That day of reckoning, of course, came in 1929,” said Perloff, “and the Federal Reserve has since created an endless series of booms and busts by the strategic tightening and relaxation of money and credit.” Speaking about the historical disinformation regarding the crash, Perloff said, “Establishment historians present the ’29 stock market crash as they do most events: an accident, evolved from erroneous policies, not from deliberate planning. We have all heard how foolish speculation bid stock prices high, but that the bubble finally burst, plunging brokers out of windows and America into the Depression.”
“Having built the Federal Reserve as a tool to consolidate and control wealth, the international bankers were now ready to make a major killing,” stated Allen. “Between 1923 and 1929,” he described, “the Federal Reserve expanded (inflated) the money supply by sixty-two percent. Much of this new money was used to bid the stock market up to dizzying heights. At the same time that enormous amounts of credit money were being made available,” continued Allen, “the mass media began to ballyhoo tales of instant riches to be made in the stock market. According to Ferdinand Lundberg: ‘For profits to be made on these funds the public had to be induced to speculate, and it was so induced by misleading newspaper accounts, many of them bought and paid for by the brokers that operated the pools.'”
Perloff concurred, writing, “The Federal Reserve prompted the speculation by expanding the money supply a whopping sixty-two percent between 1923 and 1929. When the central bank became law in 1913, Congressman Charles Lindbergh had warned: ‘From now on, depressions will be scientifically created.’ Like two con men working a mark, the Fed made credit easy while Establishment newspapers hyped what riches could be made in the stock market.” “Curtis Dall,” he continued, “himself a syndicate manager for Lehman Brothers was on the floor of the New York Stock Exchange on the day of the Crash.” Perloff quotes Dall as declaring, “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.”
The “shearing,” wrote Allen, caused a “despair [which] produced a willingness to accept a major expansion of government controls over the economy. … In 1929, America was a long way from total government.” He advised, “The next depression will be used as the excuse for complete socialist-fascist controls at home and the creation of a World Superstate internationally.”
Congressman Louis McFadden, Chairman of the House Banking Committee, declared of the Depression, “It was not accidental. It was a carefully contrived occurrence.” He warned, “The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.” The Great Depression is another example of the Problem-Reaction-Solution formula.
“Plummeting stock prices ruined small investors, but not the top “insiders” on Wall Street,” wrote Perloff. “Paul Warburg had issued a tip in March of 1929 that the crash was coming. Before it did, John D. Rockefeller, Bernard Baruch, Joseph P. Kennedy, and other money barons got out of the market. … Early withdrawal from the market not only preserved the fortunes of these men,” said Perloff, “it also enabled them to return later and buy up whole companies for a song.”
“History shows that the Wall Street biggies came through very well indeed,” wrote Alan B. Jones in his book, How the World Really Works. Quoting from G. Edward Griffin’s book, The Creature from Jekyll Island, he added, “Virtually all of the inner club was rescued. There is no record of any member of the interlocking directorate between the Federal Reserve, the major New York banks, and their prime customers having been caught by surprise.” Pictured below is a bread line in New York City during the Great Depression. Apparently the Wall Street insiders didn’t require this service.(*)
Jones quotes Herbert Hoover’s description of the Secretary of the Treasury, Andrew Mellon’s views, “Mr. Mellon had only one formula: ‘Liquidate labor, liquidate stocks, liquidate the farmers, [and] liquidate real estate.'” [Mellon] said, “It will purge the rottenness out of the system. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.”
“For those who knew the score,” stated Allen, “a comment by Paul Warburg had provided the warning to sell. That signal came on March 9, 1929, when the Financial Chronicle quoted Warburg as giving this sound advice: ‘If orgies of unrestricted speculation are permitted to spread too far … the ultimate collapse is certain … to bring about a general depression involving the whole country.'” “Sharpies [insiders] were later able to buy back these stocks at a ninety percent discount from their former highs,” he declared.
“FDR is probably best remembered for the New Deal,” stated Perloff. “Of courser, since a large portion of the work force was unemployed, there was not enough tax revenue to pay for these programs. So the government turned to its other source–borrowing. In effect, the international bankers, having created the Depression, now loaned America the cash to recover from it.” He added, “Naturally, the interest on these loans would be borne on the backs of taxpayers for years to come.”
The migration of families & individuals due to lack of jobs was evidently common during the Great Depression. Encyclopedia Britannica describes the Great Depression as the “Longest and most severe economic depression ever experienced,” which “precipitated economic failures around the world” and triggered “major changes in the structure of the U.S. economy.” “To think that the scientifically engineered Crash of ’29 was an accident or the result of stupidity defies all logic,” concluded Allen.
This evidence suggests that The Great Depression was artificially created so the larger Wall Street firms, which control the stock market, could eliminate competition and make profits out of lending America money to recover from it.
“Competition is a sin.”
-John D. Rockefeller