Wall Street Crash of 1929
The Wall Street Crash of 1929, also known as the Stock Market Crash of 1929 or the Great Crash, was a sharp 1929 decline in U.S. stock market values that contributed to the Great Depression of the 1930s. This financial collapse led to the destruction of not only the United States economy, but also the economies of many nations around the world, namely the Weimar Republic.
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Panic of 1907
Early in the 20th Century, J.P. Morgan, a powerful media mogul at the time, used his considerable influence and power to create rumors and cause mass hysteria concerning the U.S. economy, this immediately affected the banks and caused millions of people to suddenly withdraw all their savings. Thus the banks were forced to call in their loans, causing citizens to sell their property and assets. Repossessions and financial turmoil arose.
- The Morgan interests took advantage... to precipitate the panic [of 1907], guiding it shrewdly as it progressed. – Frederick Allen, Life Magazine
Congressional Investigation
Unaware of the fraud, the panic of 1907 led to a congressional investigation, headed by Senator Nelson Aldrich who had intimate ties to the banking cartels and later became part of the Rockefeller family through marriage. The commission led by Aldrich recommended that a central bank should be implemented so that a panic like 1907 could never happen again. This was the spark the international Zionist bankers needed to initiate their plan.
Jekyll Island Meeting
In 1910, a secret meeting was held at a J.P. Morgan estate on Jekyll Island off the coast of Georgia. It was there that the central banking bill called the Federal Reserve act was written. This legislation was written by bankers, not lawmakers. This meeting was so secret, so concealed from public and government knowledge that all those attending were told they could only use their first names when addressing each other. After this bill was written up, it was forwarded to their front man in the Senate, Aldrich and in 1913 with heavy political sponsorship by the bankers, Woodrow Wilson became president, having already agreed to sign the Federal Reserve Act, in exchange for his campaign support.
Federal Reserve Act of 1913
Two days before Christmas when most of congress were at home with their families, the Federal Reserve Act was voted in and President Woodrow Wilson in turn made it law.
- I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men. – Woodrow Wilson, 1919
- A world banking system was being set up here...A superstate controlled by international bankers...Acting together to enslave the world for their own pleasure. The Fed has usurped the government. – Louis McFadden
Wall Street Crash
The public was told that the Federal Reserve system was an economic stabilizer and that inflation and economic crises were now a thing of the past. The truth was that the international bankers now had a streamlined machine to expand their personal ambitions. For example, between 1914 to 1919 the Federal Reserve increased the money supply by nearly 100 percent, this resulted in extensive loans to small banks and the public. In 1920 the fed called in mass percentages of the outstanding money supply, and as a result the small banks had to call in huge numbers of loans. Just like 1907, bankruptcies, turmoil and economic collapse occurred. Over 1500 competitive banks outside of the Federal Reserve system collapsed, this further consolidated the monopoly the Fed controlled.
See also
- Great Depression
- The Rothschild Family
- Rockefeller Family
- World Bank
- Federal Reserve System - Often criticized and argued to have contributed to the crash and depression, with various argued causes and motivations.
