Posted by: angrymob101 | April 21, 2009

History Repeats: A Manufactured Crisis to Loot and Consolidate

Amazing how this “Bailout” parallels the “Banking Crisis” in 1907. JP Morgan caused a run on banks, which then allowed him to scoop up lots of other banks at bargain prices… and 100 years later we have:

“What we do think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling.

A clip from Zeitgeist, and part of the transcript. re: the 1907 story (2nd half of clip)

“I believe that banking institution are more dangerous than standing armies… If the American people ever allow private banks to control the issue of currency… the banks and corporations that will grow up around them will deprive the people of their property until their children wake up homeless on the continent their fathers conquered” -Thomas Jefferson (1743-1826)

“If you want to remain slaves of the bankers and pay for the costs of your own slavery, let them continue to create money and control the nation’s credit” -Sir Josiah Stamp (1880-1941)

By the early 20th century the US have already implemented and removed a few central banking systems, which were swindled into place by the ruthless banking interests. At this time, the dominate families in the banking and business world were: J.D. Rockefeller, J.P. Morgan, Paul Warburg, Baron Rothschild. And in they early 1900’s they sought to push once again legislation to create another central bank. However, they knew the Government and public were very wary of such an institution. So they needed to create an incident to affect the public opinion. So J.P.Morgan, publicly considered a financial luminary at the time, exploited his mass influence by publishing rumours about a prominent bank in New York wasn’t solvent or bankrupt. Morgan new this would cause mass hysteria which would affect other banks as well. And it did. The public in fear of losing their deposits immediately began mass withdrawals. Consequently, the banks were forced to call in their loans causing their recipients to sell their property and thus the spiral of bankruptcies, repossessions and turmoil emerged.

Putting the pieces together a few years later, Fredrik Allen of Life Magazine wrote:

“The Morgan interests took advantage… to participate the panic [of 1907] guiding it shrewdly as it progressed” –Frederik Allen, Life Magazine

Unaware of the fraud, the panic of 1907 led to the 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 a central bank should be implemented so a panic like 1907 could never happen again. This was the spark that international bankers needed to initiate their plan. In 1910 a secret meeting was held at the J.P.Morgan’s 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 law makers. This meeting was so secretive, so concealed from Government and public knowledge that the 10 or so figures who attended disguised their names when on route to the island. After this bill was constructed, it was then handed over to their political front man, Senator Nelson Aldrich, to push through Congress. 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 campaign support. And two days before Christmas, when most of Congress was at home with their families, the Federal Reserve Act was voted in and Wilson in turn made it law.

Years later Woodrow Wilson wrote, in regret:

“[Our] Great Industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.. who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”

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