Weekend Watching: The Crash of 1929
Submitted by Michael Nystrom on Fri, 10/31/2008 - 17:54
in
This is an fascinating program that serves to remind us: The more things change, the more they stay the same: The New Era, consumer credit, new technology, a stock market boom, excessive leverage and speculation, the terrible bust and then... (No, there is nothing new under the sun.)
I know that the stock markets look like they've made a bottom, and they're talking about it plenty on bubblevision, but check out this original chart of the 1929 crash.
http://www.sharelynx.com/chartsfixed/WSJchart.jpg
You'll note that while the "crash" took place in October 1929, the market had further to fall, and made its real bottom in early November. That was of course just a temporary low. Ultimately stocks fell 90% over the next four years!
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The best investment right
The best investment right now is to buy food, tools and necessities. Property that you can produce on is good as long as you are not borrowing to do so. Get a group of people, family and friends together and buy something jointly, not too big. Stay away from the treasury bubble and invest in something that those with gold will want to trade you for in the future. Working to get a skill is one of the best investments you can make. A man who works rarely starves.
grant
Good history video, BUT
I have a hard time drawing the connections to our times. We might go through a Depression, but I don't think it will be as bad as it was in the thirties. All the Government programs in place today really help the poor and have helped us reach a high minimum standard of living in America. The poor fare fine with unemployment insurance, free health insurance, food stamps, etc. I wish I had it in me to stay at home and draw state health insurance just so I could have another baby and stay at home. If the stock market crashes and the rich lose some wealth why should I care?
You are absolutely right.
It will be far worse...
I may not know the truth, but I know when I'm being lied to...
I may not know the truth, but I know when I'm being lied to...
I see from your profile
that you are a thirty two week and two day old.... so I shall adjust my wording to that which you can understand.
Social (non) Security = BROKE
Medicaid= BROKE
Medicare= BROKE
Food stamp program (oops, my mistake, food Card program, so you can feed you ego while feeding your mouth at tax payers expense with out shame) = BROKE (by the way, was that a carton of smokes and a case of beer you paid cash for while my tax dollars were at work, buying you that T-bone steak?
All FEDERAL departments= BROKE
Most State departments= BROKE
Go ahead, have anouther mouth to feed, but learn where all the soup kitchens are. P.S. you can always go into the local resturant and order hot water. Just add a couple packs of ketchup and you've got tomato soup for free.
So what, more debt
From my stand point, the problem is that america can keep doing 2 things, borrowing money from other countries (this will cause it's international power to decline) or print more money (inflation).
There is no control mechanisim in either 2, so politics just keep doing either of these. This is what they have been doing for decades, so they just don't know what else to do.
Gaby
__________________________________
Foreign national mortgage
This just in from Eli 7.4's
This just in from Eli 7.4's playground: Apparently, girls go to college to get more knowledge, but boys go to Jupiter to get more stupider. -Bill Harris Health Dissertation | Business Dissertation
The problem zrih1, is that
The problem zrih1, is that within the last year the FED has, from the estimates that I have seen, pumped nearly 100 years worth of fiat "liquidity" into the system. Now, consider the fact that since the year 2000, it appears that the FED has pumped nearly 10 times as much fiat "liquidity" into the system than has been created over the last 224 years in the history of this country, but it is coming and there is simply no mathematical way to avoid it unless the system is completely abandoned and converted to a sound monetary system immediately.
We have yet to see the effects of this inflationary pressure within the economy. Additionally, when you consider that the Bush Administration has accrued more debt in the last 8 years than all Presidents combined and perhaps you might get the idea that there is something truly massive looming right on the horizon.
Recently, the GAO [General Accounting Office] released their report on the fiscal state of the government and their conclusion is that by the year 2010, there will be a very severe drop in the ability of this government to meet all its obligations, not only its debt obligations, but all programs will be virtually impossible to maintain, even at the most modest level. In other words, as the former Comptroller General David Walked said for years, the U.S. Government has been technically bankrupt and soon that would change to an effective bankruptcy. So, if the numbers of the GAO is correct, what do you expect will happen?
Add that expectation to the fact that there is a complete destruction of the already depreciated fiat currency in this country and you might begin to see just what type of future is on the horizon in this country, and around the world. Voltaire once said that paper money always returns to its real value: zero! That is what you can expect with our paper money, it is already dangerously close to complete depreciation, today your dollar has the effective purchase value of approximately 3 to 4 Cents compared to the real 100 Cent 1913 Dollar. It will not take much more inflation to completely destroy the last vestiges of purchasing power of our dollar, at that point we can expect a massive hyperinflationary event which will effectively destroy what we know know as American society.
I suggest you prepare, the stock market crash of 1929 and the Great Depression that followed will look like a day in the park in comparison. At this point, considering the actions being taken by the FED, our Treasury and this wise Government of ours, we can expect that their actions will have dire consequences much sooner than perhaps most of us realize.
http://www.1776solution.blogspot.com
I would remind you that extremism in the defense of liberty is no vice! And let me remind you also that moderation in the pursuit of justice is no virtue. Barry Goldwater
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
illusions and delusions...
Bankers, fractional reserve banking and fiat currency.
SECRET OF SILVER SHORTAGE or NOT
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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WHY AREN'T THEY SEARCHING IF THERE IS A SHORTAGE?
http://www.google.com/trends?q=silver%2C+silver+coin%2C+silv...
government of the people, by the people, for the people
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Glenn Beck/ BJ Lawson interview!
http://www.youtube.com/watch?v=rpEZvFazaRc
Glenn Beck interviews BJ Lawson for the first time! Spread it around!!
DEFLATION OF INCOME AND JOBS AHEAD, in my opinion.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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government of the people, by the people, for the people
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The Fed did nothing. pathetic
Same winners, same losers and the Fed ain’t to blame. I guess we never learn because the Dept of Education makes it so. The Fed needs to be fired, now.
oxen
Our financial system has collapsed- we need Paul 2008
I know he has withdrawn his name, but please read my explanation at the link below. I do not think our financial system, and ultimately the economy are going to make it through next year. We need Ron Paul- he is the only well known candidate who actually understood what is happening, reported it to us, and took actions to stop it (HR 2755).
Whether it will count or not, and likely I will have to use a paper ballot, I intend at this time to write in Ron Paul. If enough people do it, it will send a message to the electoral college. If the financial system goes into the next phase of collapse by Dec. 15th (quite possible), America and the electoral college may wake up.
Neither McCain nor Obama had anything to say on the financial collapse (other than a few things about Fannie and housing problems) until October 2008. There is a huge disconnect here, and I do not trust it.
This link contains my explanation, plus a letter to Ron Paul:
www.JoeSixPack.me
www.JoeSixPack.me
What state are you in?
Writing in Ron Paul will be counted in California: A group of people have filed as electors for him.
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
California Delegates
MichaelMcC:
I tried to send you a message through contacts.
Can you give me information on the California delegates for Ron Paul?
Contact me at joe@joesixpack.me
Thanks!
www.JoeSixPack.me
www.JoeSixPack.me
I'm in CA
I am in California!!
www.JoeSixPack.me
www.JoeSixPack.me
THIS FILM HAS NOTHING TO DO WITH THE TRUTH
The film is a complete whitewash in support of the view of the people who still control the world today. It spends all of it's time "blaming" the crash on "emotions" and "speculators" and "crazy 30's flappers."
I would think that folks who watch this site through all of the research posted here in the last year and a half would know better to buy any of what this film represents.
It is a rewriting of history.
Thomas Lamont President of JP Morgan "stepped in" to help save the market...?
Do you know who these people are? Read the following well researched quote and learn to stop taking things at face value...this site is about liberty not believing everything that you are told.
"Apparently Corliss Lamont was following his family legacy. According to Wall Street and the Bolshevik Revolution by Antony C. Sutton,
"...there is evidence of transfers of funds from Wall Street bankers to international revolutionary activities. For example, there is the statement (substantiated by a cablegram) by William Boyce Thompson — a director of the Federal Reserve Bank of New York, a large stockholder in the Rockefeller-controlled Chase Bank, and a financial associate of the Guggenheims and the Morgans — that he (Thompson) contributed $1 million to the Bolshevik Revolution for propaganda purposes....
"Of all American business leaders, the one who most vigorously patronized the cause of Fascism was Thomas W. Lamont. Head of the powerful J.P. Morgan banking network, Lamont served as something of a business consultant for the government of Fascist Italy. Lamont secured a $100 million loan for Mussolini in 1926 at a particularly crucial time for the Italian dictator. We might remember too that the director of Guaranty Trust was the father of Corliss Lamont, a domestic Communist." [15] "
It is all the same NWO players just 70 years ago just the grandchildren.
Good Lord folks the crash was scripted and it does not take that much research to figure out how and why.
The US had 24,000+ banks in September of 1929....within a few years 16,000 had been closed. A tiny percentage of the US population owned stocks. (Oh gosh! The shoe shine boy owned stocks..." That's right...one shoe shine boy owned stock.) The bank closings was what destroyed the economy...the market was a casino with a few flashy players. Going to the bank and having all of your savings wiped out was the plan.
The goal was to wipe out the banking and credit system and get the planned set of socialist reforms underway in an environment of horror produced by 30% unemployment. "They" slammed the door shut on credit and brought America to it's knees.
This was the plan and it worked.
I love how these "crash" writers trot out Jesse Livermore and Mitchell as the "players" in the drama. Morgan and the banking interests ALREADY CONTROLLED THE MEDIA IN THE US. Just do your due diligence.
This month's crash is scripted as a step towards a world financial system. Why else would Bush be meeting with "world leaders" about the Dow coughing up a fir ball? What the F does France have to do with US mortgages going bad?
Why else would mortgage underwriting requirements be ignored for the last 10 years? They wanted a bubble so they could crash it and take the next step.
Do your research...the truth will set you free and this site is about freedom.
Unify
I haven't watched the film,
I'm only adding comment on tstorey's post.....Yes, the Great Depression was scripted. It didn't happen because of fear, or whatever. Last week I saw a newspaper front page headline suggesting that the stock market fell off so fast because of YOUR "fear". I believe that this headline intended to encourage ordinary stockholders to leave their money in stocks so that "all will be well". (But then these ordinary stockholders lose their money to the people who manipulated their emotions.)
Some people I know have fallen for this line. They decided to not show fear, by leaving all their money in the bank to help the bank not to fail.
My question this time around is: did the script writers go too far and lose control of their plan, what with the 1.4 quadrillion OTC derivatives thing they created, on top of their world wide fiat money system?
After
everyone had been wiped out along with most of the competition, Roosevelt implemented the 1932 gold seizure making it a felony to own gold. This wiped out what little wealth the people had left.
It was a terrible time in American history and one that could very well happen again.
"I wonder what the fine will be for killing the King's deer?"
"Tyrants fear nothing more than insubordination"
"It's just one big club... and WE ain't in it!"
The banker own the studios and publishers and news outlets
This show was just one of their many propoganda pieces.
And its still happening today!
The new blame is being placed on "free market capitalism".
Thank you Michael it was worth watching
Liberty is our campaigns gift to the world it is our manifest destiny.
Freedom is a movement who's time has come. Our campaign will lead to world wide freedom.
Liberty is our campaigns gift to the world it is our manifest destiny.
Freedom is a movement who's time has come. Our campaign will lead world wide freedom.
My, how history repeats itself
Here is a quote from the movie:
It reminds me very much of a quote from this year:
If you can't access the chart...
Here's the page to go
http://www.chartsrus.com/
Then under the category, Notable Charts Found on the Web,
Click on WallStreet1929.
Happy Halloween...
This is a scary video in that it is uncomfortably reminiscent as to what is now occurring. Many think that the stock market crash was a one day event, followed almost instantaneously by declining living standards.
As the video explains, there were actually a series of crashes over the next 4 years. And, we know the government intervened to "soften" the blow by propping up markets rather than allowing the correction to take place.
We are heading this way again and really, this should be no surprise as fiat liquidity coupled with fractional lending is a sure recipe for disaster.
Consider that while the borrowed liquidity is created, the interest liquidity is not created. This means that there is absolutely no way that the principle and interest can ever be fully paid.
END the FED before it ENDS US
Not an instantaneous happening
I read the account by the man who was in Argentina when the economy went really really bad. I just remember him saying .... it didn't ahappen all at once. Little by little, things fell into disrepair, cars got junkier (noboby could affort to fix them), you saw more and more people walking, pretty soon nobody looked well fed anymore, etc, etc. It's not just one event where you can put your finger on it and say, "After this, it was really bad." It happens gradually ... and that's the path we're on.
Many can't put their finger on it but...
Good point...it sneaks up on you at first slowly, and then, abruptly as evidenced by other national failures.
END the FED before it ENDS US
I had no problem accessing
I had no problem accessing chart.
...
Forbidden
You don't have permission to access /chartsfixed/WSJchart.jpg on this server.
Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.
Michael
maybe this would be a good thing to put on Digg. Thanks, for the info.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Bump for Michael to wake up and give us a good link! LOL
"Whether you think you can or think you cannot, you're absolutely right!"
"Whether you think you can or think you cannot, you're absolutely right!"