In 1907 John P. Morgan, publically considered a financial luminary in the early 1900s, exploited his mass influence by publishing rumours that a prominent bank in New York was insolvent or bankrupt. Morgan knew this would cause mass hysteria which would affect other banks as well. The public, in fear of losing their deposits, immediately began mass withdraws. Consequently the banks were forced to call in their loans, causing recipients to sell their property and a spiral of bankruptcies, repossessions and turmoil emerged.
Putting the pieces together a few years later, Frederick Allen of life magazine wrote “The Morgan interests took advantage….to precipitate the panic [of 1907] guiding it shrewdly as it progressed”. The fact is international bankers now had a streamlined machine to expand their personal ambitions. For example, from 1914 to 1919 the United States Federal Reserve increased the money supply by nearly 100%, resulting in extensive loans to small banks and the public. Then in 1920 the Federal Reserve called in mass percentages of the outstanding money supply, thus resulting in supporting banks to call in huge numbers of loans and just like 1907 bank-runs, bankruptcy and collapse occurred. Over 5 000 competitive banks outside of the Federal Reserve System collapsed, further consolidating the monopoly of a small group of international bankers. Privy to this crime, Congressman Charles Lindbergh stepped up and said in 1921 “Under the Federal Reserve Act, panics are scientifically created. The present panic is the firsts scientifically created one, worked out as we figure a mathematical equation.”
However, the panic of 1920 was just a warm-up. From 1921-1929 the Federal Reserve again increased the money supply (by approximately 62%) resulting once again in extensive loans for the public and banks. There was also a fairly new type of loan called a “margin loan” in the stock market.
OY VEY
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Very simply a margin loan allowed an investor to only put down 10% of a stock’s price with the other 90% being loaned through the broker. In other words a person could own 1 000$ worth of stock but be only 100$ down. This method was very popular in the ‘roaring’ 1920s as everyone seemed to be making money in the market. However, there was a catch to this loan. It could be called in at any time and had to be paid within 24 hours. This is termed a ‘margin call’. And the typical result of a ‘margin call’ is the selling of the stock purchased with the loan.
So, a few months before October in 1929 John D. Rockefeller and other bankers quietly exited the market and on October 24th 1929 the New York financiers who furnished the margin loans started calling them back in mass. This sparked an instantaneous massive sell-off in the market. Everyone had to cover the margin loans. It then triggered mass bank-runs for the same reason. In turn collapsing over 16 000 banks. This enabled a handful of international bankers to not only buy up rival banks at a discount, but to also buy up entire corporations for very little.
Rather than expanding the money supply in order to recover from this economic collapse the Federal Reserve actually contracted it, fuelling one of the largest depressions in history.
Honestly though it's basically the banking system's fault and humanity's fault for being so stupid as to trust it.
Banks are built out of this lending business that is completely stupid and immoral for any one person to do. Idiots decide to put money in the bank and putting trust on this bank that's playing with your money and just getting rich off loans, and then everyone acts all surprised like they didn't see this coming when the debts have to be payed and people are told to screw off at the teller without their money.
Fuck the idiots with money in the bank and putting trust in the bank (like me and 90% of us), fuck the idiots in the bank that keep the whole rotten monster going, and fuck all of us for handing over our value-backed currency to a private organization that pinky promises to manage our money supply for us (Federal Reserve...this is all Woodrow Wilson's fault btw).
We are living in a rotten, false society that's been falsely parading around as a prospering society for the last 7 or 8 decades. It's going to collapse and we're all idiots for not having gotten out already. We're all on a sinking ship telling ourselves that it surely won't sink.
The engineered great depression was later used to justify going off the gold standard so banks have even more power over us goys. Jesus Christ we live in a world of scam.
Without memeing, I think hastening the decline of it all would make for a better result in the end -- that we may storm our way out of this coming dystopia for the prosperity of our future generations.
>withdraw all money you have in the banks, buy a decent safe to store cash. Also buy some gold since cash is not a long-term store of wealth.
>completely withdraw from being a consumer of anything more than basic needs
>satisfy all debts to avoid usury and interest profits for debt-generating super-corporations that inflate/bloat the economy
>chop up ALL credit cards
>move to a remote location, preferably with a family to start (or already started)
>contribute to the local economy by trading goods/working for local businesses, even if it's for chump change -- all to feed your family and build a relationship with YOUR community
I now suddenly have the urge to do 50 pushups. Thank you user.
There is a simple solution, make usury punishable by death.
Large scale financial manipulation is worse than simply charging interest tbqh
do you mean
>jean-pierrepoint morgan
?
Should we punish adultery too?
Usury is not merely charging interest, but at any rate none of this large-scale manipulation would be possible without charging interest.
Yes, but not necessarily by death.
Define usury then
loansharking
Short version: wealth parasitism, making money of off purely financial transactions rather than transactions involving actual goods. It's a bottomless pit which is why it is so ruinous for a nation.
Okay I see what you mean.
this is why I built a good credit profile and live on credit.. let it fail I have no cash assets only debt..
interesting OP. Make it again and again
>It's stupid poor people's fault
>fuck them
t. self hating white man
One sheckle has been deposited into your Netflix account.
saved
Good. Sup Forums needs more redpill threads due to all the newfags.
December 23, 1913 - Never Forget
Have a bump, it's an important topic.
thanks
The National Banking Act of 1933 was written by bankers behind the scenes with FDR's knowledge.