The Stock Market Crash of 1929 was Engineered Through Conspiracy
The Federal Reserve System was created when Woodrow Wilson was President and was passed through congress on an unsuspecting American public. There were absolute guarantees that there would be no more boom and bust economic cycles because international bankers faithfully promised that from then on there would be only steady growth and perpetual prosperity.
However, Congressman Charles A. Lindberg Sr. accurately proclaimed “From now on depressions will be scientifically created.”
Having built the Federal Reserve as a tool to consolidate and control wealth, the international bankers were now ready to make a major killing. Between 1923 and 1929, 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.
The House Hearings on Stabilization of the Purchasing Power of the Dollar disclosed evidence in 1928 that the Federal Reserve Board was working closely with the heads of European central banks. The Committee warned that a “major crash had been planned in 1927” and at a secret luncheon of the Federal Reserve Board and heads of the European central banks, the committee warned the international bankers were tightening the noose.
When everything was ready, the New York financiers started calling 24 hour broker call loans. This meant that the stockbrokers and the customers had to dump their stock on the market in order to pay the loans. This naturally collapsed the stock market and brought a banking collapse all over the country because the banks not owned by the oligarchy were heavily involved in broker call claims at this time, and bank runs soon exhausted their coin and currency and they had to close. The Federal Reserve System would not come to their aid, although they were instructed under the law to maintain an elastic currency.
When the stock market crashed in 1929, it didn’t happen on a single day. Instead, the stock market continued to plummet over the course of a few days setting in motion one of the most devastating periods in the history of the United States.
The most significant events started on Black Thursday, October 24, 1929. On that day, nearly 13 million shares of stock were traded. It was a record number of stock trades for the U.S. and marked the end of an upward trend on stock prices. On Black Thursday, the stock prices dropped so quickly, the stock ticker could not keep up. As the day progressed, the stock ticker lagged behind, failing to show the most up to date stock prices.
On the next day, Friday, October 25, several of the nation’s largest bankers met to decide what they could do about the situation. Among the attendees were the heads of Morgan Bank, Chase National Bank and National City Bank. The bankers ultimately decided to purchase a number of U.S. Steel shares above market price. A similar tactic worked to end a previous stock market scare in 1907 when the New York Stock Exchange plummeted, causing many banks and businesses to file bankruptcy. American banker J.P. Morgan and a few other bankers bailed out the banking system using their own money but the bankers who tried to thwart the “1929 Stock Market Crash” were unsuccessful.
In those days, the stock market traded six days a week instead of five. The bankers’ move led to a slight increase in stock price on Saturday, October 26. But over the weekend many investors lost faith in the stocks and decided to sell their shares. When the markets reopened on Monday, October 28, 1929, another record number of stocks were traded and the stock market declined more than 22%. The situation worsened yet again on the infamous Black Tuesday, October 29, 1929 when more than 16 million stocks were traded. The stock market ultimately lost $14 billion that day.
Tags: 1929 Stock Market Crash, Bankers, Black Thursday, Boom and Bust, Broker Call Loans, Charles A Lindberg Sr, Chase National Bank, Congress, Conspiracy, Depressions, Economic Cycles, European Central Banks, Federal Reserve, Federal Reserve Board, Federal Reserve System, House Hearings on Stabilization, Money Supply, Morgan Bank, National City Bank, New York Financiers, October 24 1929, October 28 1929, October 29 1929, Purchasing Power of the Dollar, Secret Luncheon, Stock Market Crash Planned, Stock Ticker, Woodrow Wilson