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Think the Fed Works For the United States? You've got it backwards.

By: Decomposed in 6TH POPE | Recommend this post (0)
Sat, 04 Feb 23 7:25 PM | 36 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 39762 of 58526
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Some passages from "The Creature from Jekyll Island":


The Fed targeted Midwest and Southern banks which were thriving on deposits by prosperous farmers and which weren’t part of the Federal Reserve. It (1) extended “easy credit to the farmers to lure them into heavy debt, then (2) created a recession which would decrease their income to the point where they could not make payments. The country banks would then find themselves holding non-performing loans and foreclosed property which they could not sell without tremendous losses. In the end, both the farmers and the banks would be wiped out. The banks were the target. Too bad about the farmers.”

“In May 1920… the farmers were exceedingly prosperous… They were paying off their mortgages. They had bought a lot of new land and, at the insistence of the government - had borrowed money to do it - and then they were bankrupted by a sudden contraction of credit and currency, which took place in 1920… ” - Senator Robert Owen, 1939

“The contraction of credit and currency had the effect, the next year, of diminishing the national production $15,000,000,000; it had the effect of throwing millions of people out of employment; it had the effect of reducing the value of lands and ranches $20,000,000,000”




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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