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News ::
Crash and Depression (english)
13 Nov 2002
Modified: 07:29:24 PM
The American banker's "wealth bluffing" poker hands were "called" for the first time in the 1929-1933 stock-market crash and Depression. Their empty-handedness occurred because: 1) the banks themselves had no real wealth, and 2) the banks had used the depositors' funds as investments elsewhere in "non-liquid cash" ventures....
crapitalismcpaou8.gif
The American banker's "wealth bluffing" poker hands were "called" for the first time in the 1929-1933 stock-market crash and Depression. Their empty-handedness occurred because: 1) the banks themselves had no real wealth, and 2) the banks had used the depositors' funds as investments elsewhere in "non-liquid cash" ventures....
...The banks of 1970 have all but abandoned their specious representation, popularly advertised until the time of the 1929 crash, that suggested that the individual's consistent bank-deposited savings would continually grow, ultimately to provide handsomely for
the individual's old-age needs. But the myth persists as a popular concept and as a psychological drive....

http://people.montana.com/~calsch/CosmicCosting.htm


CRASH & DEPRESSION

The American banker's "wealth bluffing" poker hands were "called" for the first time in the 1929-1933 stock-market crash and Depression.

Their empty-handedness occurred because:

1) the banks themselves had no real wealth, and

2) the banks had used the depositors' funds as investments elsewhere in "non-liquid cash" ventures.

These frozen resources brought about unmeetable "runs" and bankruptcy of the banks.

After Franklin Roosevelt's New Deal, the U.S. government reopened the "banks" with public knowledge of the fact that the people's deposits were now being guaranteed only by the people's government, and not by the bankers or by private-enterprise wealth.

The banks and their managers, "owners," and employees were then put under stiff government regulation. Thus the U.S. Congress and administration socialized the banking system, but without saying so in a forthright manner. The people's government, and not the bankers, became the guarantor of last recourse.

The reestablishment of the "banks" were restored by the New Deal only because people were accustomed to placing their savings in the safekeeping of banks, considering them less subject to robbery than when hidden under mattresses.

The Roosevelt administration found it easier to yield to this popularly conditioned reflex than to re-educate the people on economics. The public of 1933 knew little or nothing of the Alexander Hamilton fiscal coup of a century earlier....

http://people.montana.com/~calsch/CosmicCosting.htm

http://egroups.com/group/jpchance/links/Treasury_000993420879

*************

http://egroups.com/group/jpchance - United States President.

http://egroups.com/group/Time-Energy-Accounting - TEA.

http://bfi.org/grunch_of_giants.htm - R. Buckminster Fuller.

http://whatreallyhappened.com - CENSORED.

http://vialls.homestead.com - Exposing Media Disinformation.

http://www.awea.org - Prosperity, Not War & Pollution.

http://treasurynet.org - Time + Energy = Wealth.
See also:
egroups.com/group/jpchance
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When You Hear (english)
13 Nov 2002
When you hear the term "derivative trading" in 2002, think "margin call" in 1929.
That Depends... (english)
13 Nov 2002
That depends on WHAT any derivatives are backed by and WHO issues them.

Educate yo'self!

http://egroups.com/group/jpchance/links/Treasury_000993420879
See also:
egroups.com/group/jpchance/links