The
black celebration of capitalism and the big opportunity for the
banksters and speculators to gather wealth and power for the first
time in such a degree
Bought
the most productive industry at that time, eliminated thousands of
competitors. Unemployment soared, WWII came soon.
“On
October 24 ('Black Thursday'), the market lost 11 percent
of its value at the opening bell on very heavy trading. Several
leading Wall Street bankers met to find a solution to the panic and
chaos on the trading floor. The meeting included Thomas W. Lamont,
acting head of Morgan Bank; Albert Wiggin, head of the Chase National
Bank; and Charles E. Mitchell, president of the National City Bank of
New York. They chose Richard Whitney, vice president of the Exchange,
to act on their behalf. With the bankers' financial resources behind
him, Whitney placed a bid to purchase a large block of shares in U.S.
Steel at a price well above the current market.”
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On December 23, 1913, the then US
President Woodrow Wilson puts the final signature for the
so-called Federal Reserve Act. Big private banks take control of
the US money supply. Since then and for 100 years until now, we
live in the bankster-domination era. The only "break" of
real peace and prosperity for the West since then, is perhaps the
period after the WWII until the early 70s, though conflicts,
dictatorships and wars were not absent.
The first big test of the new
conditions was the 1929 crash. Banksters reduced the money supply
to the market, eliminating competitors and leading to poverty
millions of Americans. The same happened, more or less in the
2007-2008 financial crisis.
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