Press TV, October 2015 An American writer in Washington, DC says economic downturns are not “organic happenstance” but they are orchestrated by international bankers to plunder the public.
“When the economy crashes people don’t have the money to pay their bills and their loans. When this happens, real material wealth is transferred to these very same banks through foreclosures and repossessions,” Walt Peretto said in an interview with Press TV on Monday. “It’s the biggest con job ever perpetrated against mankind.”
In a recent interview with Russia Today, former US presidential candidate and congressman Ron Paul said that the biggest economic crash ever will hit the American economy when current “bubbles” burst.
“The way the Western economic system is constructed, the potential for a catastrophic economic crash wreaking havoc across the globe is ever present,” Peretto said.
“The US dollar is printed out of thin air and created as digits on computers by the Federal Reserve System. This currency is an illusion. The international bankers wish value upon it and as long as they can fool the world into thinking it has value, the power of the bankers increases,” he said.
“This system is actually a means of controlling vast numbers of people via a social contract we are born into that says if you want to live you must acquire this money we created at will,” the researcher added.
The liquidation of America’s fourthlargest investment bank, Lehman Brothers, in September 2008 almost brought down the global financial system. The collapse triggered an international economic crisis, which is considered by many economists as the worst financial crisis since the Great Depression of the 1930s.
The crisis played a significant role in a downturn in global economic activity that led to the 2008–2012 global recession and contributed to the ongoing European sovereign-debt crisis.
Ron Paul said that the basic source of the economic trouble is America’s central banking system, known as the Federal Reserve or the Fed, which cannot function in a real market economy.
Commenting to Press TV, Peretto said, “The Federal Reserve is not part of the US government, it is a consortium of private banking interests that have taken over the American economy since President Woodrow Wilson regrettingly signed the Federal Reserve Act in 1913. This was a behind the doors deal enacted in secrecy and deception.”
He stated that “Ron Paul does understand that the Federal Reserve is a major source of trouble for the United States and he is one of the few major politicians who has been outspoken in his criticism of the Fed, even calling for an audit of the institution.”
“Since 1913, the US economy has been largely controlled by these plotters who are hell-bent on a future of a one world government and a one world currency. This power over people has led to two world wars and countless other atrocities and hardships where they really rake it in by funding wars at high interest,” he added.
“As far as Ron Paul’s prediction is concerned, the economy will crash if the international bankers wish it so. These economic downturns are not organic happenstance, these events are contrived schemes designed to loot the masses,” the analyst noted.
Our Comment
Can’t say we weren’t warned!
For example:
If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and the corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the banks and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.1
The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth; take it away from them, but leave them with the power to create credit, and with the stroke of a pen they will create enough money to buy it back again… If you want to be slaves of the bankers, and pay the costs of your own slavery, then let the banks create money.2
Top economists – Milton Friedman, Irving Fisher, and John Kenneth Galbraith – all agree that the October ’29 Stock Market Crash was triggered by the Power Elite, not by some accident. 3
The Fed was flooding the country with money – over $10 billion in new money within six years (from 1924-1929) by way of a steady increase in bank loans which contributed to a rise in the market.
Businesses expanded and became strung out on credit. Speculation in the booming stock market became rampant.
In April 1929, Paul Warburg, the father of the Federal Reserve, sent out a secret advisory warning his friends that a collapse and nationwide depression was certain. In August of 1929 the Fed began to tighten the money supply. It is no coincidence that the biographies of all the Wall Street giants of that era – John D. Rockefeller, J.P. Morgan, Bernard Baruch, etc. – all marvelled that they got out of the stock market just before the crash and put all their assets into cash, bonds or gold.
On October 24, 1929, the big New York bankers called in their 24-hour broker call loans. This meant that both stock brokers and their customers had to dump their stocks on the market to cover their loans, no matter what price they had to sell them for. As a result the market tumbled.
Congressman Louis McFadden, Chairman of the House Committee in Banking and Currency from 1920 to 1931, knew who was to blame. He accused the Fed and the international bankers of orchestrating the crash!
It was not accidental. It was a carefully contrived occurrence –Louis T. McFadden
Curtis Dall, a broker for Lehman Brothers, was on the floor of the New York Stock Exchange the day of the Crash. In his 1968 book, FDR: My Exploited Father-in-Law, he explained that, actually, it was the calculated ‘shearing’ of the public by the World-Money powers, triggered by the planned sudden shortage of call money in the New York Money Market. 4
Élan
End Notes
- Charles Beard. The Rise of American Civilization. London, Cape.
- Lord Josiah Stamp. Public Address in Central Hall, Westminster, 1937.
- Global Outlook. Collector’s Edition. Issue 13, Annual 2009, page 212. 4.
- IBID, page 213.
“None are more hopelessly enslaved than those who falsely believe they are free.” Johann Wolfgang von Goethe – 1749-1832
