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Creating Another “Crash of 1929”

by Jeff Thomas

Creating Another “Crash of 1929”

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– Ben Bernanke

Waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the roadeither too much inflation, financial instability, or both.

– Janet Yellen

In his speech above, future Federal Reserve Chairman Ben Bernanke acknowledged that, by raising interest rates, the Fed triggered the stock market crash of 1929, which heralded in the Great Depression.

Yet, in her speech above, Fed Chair Janet Yellen announced that “it makes sense” for the Fed to raise interest rates “a few times a year.” This is a concern, as economic conditions are similar to those in 1929, and a rise in interest rates may have the same effect as it did then.

So let’s back up a bit and have a look at what happened in 1929. In the run-up to the 1929 crash, the Federal Reserve raised rates to 6%, ostensibly to “limit speculation in securities markets.” As history shows, this sent economic activity south rather quickly. Countless investors, large and small, who had bought stocks on margin, would be unable to pay increased interest rates and would be forced to default. (It’s important to understand that the actual default was not necessary to crash markets. The knowledge that investors would be in trouble was sufficient to send the markets into a tailspin.)

Mister Bernanke was quite clear in 2002 when he stated that the Fed would not make the same mistake again that it made in 1929, yet, then, as now, there’s been a surprise victory by a Republican candidate for president. Then, as now, a wealthy man who had never held elective office was unexpectedly in the catbird seat and had the potential to endanger the control of the political class, at a time when that political class had been complicit in damaging the system by creating massive debt.

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Then, as now, conditions were ideal for the Deep State to create a solution to all problems: An economic crash was inevitable; therefore, create a trigger for it to occur and blame the collapse on the conservative political outsider. Demonstrate to all that the collapse was due to the greed of the outsider and those who were of like mind. Use that leverage to demonstrate to the hard-hit populace that what was needed was the opposite of what the outsider had proclaimed. Recommend far greater control by a new government that was staunchly liberal—a government that would change the political landscape in such a way that all those who suffered would be saved by a benevolent collectivist government.

And, of course, when it’s stated that way, it’s an easy sell. In 2017, it will be an even easier sell than it was in 1929, as the new president has already set himself up for a fall. In his inauguration speech, he focused on a single topic—the return of power to the people and away from Washington’s bureaucracy.

Beginning by decrying Washington for what it truly is, he stated that “for too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished—but the people did not share in its wealth.”

He then went on to describe that his presidency would bring about a metamorphosis:

I will never, ever let you down. America will start winning again, winning like never before. We will bring back our jobs. We will bring back our borders. We will bring back our wealth. And we will bring back our dreams. We will build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation. We will get our people off of welfare and back to work—rebuilding our country with American hands and American labor… We will reinforce old alliances and form new ones—and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the earth… We will not fail. Our country will thrive and prosper again.

Of course, new presidents are prone to making big promises when they first take office. However, Mister Trump has, in his brief speech, effectively declared himself the enemy of the Washington bureaucracy. In so doing, he’s left himself wide open to be the fall guy if the economy does not rebound, if the average American’s lot does not improve, and if the US does not dominate the world through an expanded military.

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In short, the Deep State and their cronies, who were instrumental in creating the economic, social, and political house of cards that now exists, have the perfect opportunity to bring on the collapse and blame the new president for it.

Were Mister Trump to have honestly stated that the US is effectively a house of cards and that he’ll begin the laborious job of trying to salvage what’s left of it and begin to rebuild it, he would have provided himself with a justifiable excuse when the house of cards does collapse. However, by making such lofty claims to “Make America Great Again,” he’s lost this opportunity.

In the last year, whenever I was asked who I hoped the Americans would elect as their president, I replied, “Bernie Sanders.” To those that were shocked by this answer, I would add, “An economic collapse is inevitable. No one, no matter how capable, can prevent it. The best that can happen is that the collapse occurs under a president who’s an avowed socialist. That would ensure an eventual return to smaller government and more conservative economics.”

As unfair as it may be, a nation’s people almost always blame whoever is on watch when a collapse occurs. It matters little who or what is actually at fault. People need a “face” to vilify for the disaster and the sitting leader is almost always spontaneously chosen by a nation as that face.

And, of course, the opposing party invariably makes the most of the situation. Just as in 1929 and for years thereafter Herbert Hoover received the lion’s share of the blame for a Wall Street crash and the subsequent Great Depression, even though he was not at fault, so too will the US come to blame the new president who made promises that were far beyond what he could deliver.

The die is cast. The patsy-in-chief is now installed. The media will do all they can to discredit Mister Trump and civil unrest will be funded by his opponents. The US economy is more debt-laden than any country in the history of the world and, historically, this has always resulted in economic collapse. At present, there are scores of triggers that could bring about collapse. Any one of these black swans could do the job, but it’s entirely possible that the Federal Reserve will serve once again as the trigger, as it did in 1929.

This is unquestionably the smart way to play the game. Rather than wait for a random occurrence, if a date is set for a controlled collapse, those connected to the Deep State will have a brief time to disconnect their wealth from the system, as was done in 1929.

The trigger would be pulled by the Fed and the US economy would go down in as controlled a fashion as Building Seven in the World Trade Center.

When is this likely to occur? Herbert Hoover was given just under eight months. The date for the next collapse could be earlier or later. But the question is not when that date might be, but whether we’ve prepared ourselves for the eventuality.

Editor’s Note: The Fed could start its controlled demolition of the US economy any day now.

This collapse will be much worse and last much longer than the Great Depression or the 2008 financial crisis.

Doug Casey and his team have critical, time-sensitive information about preparing for this economic meltdown. They’re sharing need-to-know details in this urgent new special report. Click here to download the PDF now.

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15 hours ago, millionaire in training said:

Mister Bernanke was quite clear in 2002 when he stated that the Fed would not make the same mistake again that it made in 1929

I would question the agenda of the author.

Lookup "Helicopter Bernanke", when bungeling bush caught the fallout from clinton's housing mess, the economy was stalled when all those "deserving" lying morons agreed to buy a 100k home for 500k using "liar loans", berny suggested dropping $100 bills from helicopters over cities in order to infuse "main street" with spending money, so that everyone woud rush out and buy more China junk, and that would somehow restart the economy. 

Benny was a moron, a puppet for the elites, he declared the recession was over, expecting his words to install confidence in businesses, thereby getting them to part with the massive cash reserves they were hoarding, because all those people who proved income by posing in a mariachi suit in a lawn were getting their robo signed $700k homes foreclosed. 

So forget every home loan processor in that era made millions in commissions by perpetuating the bubble insanity, forget clinton had forced Fannie Mae and Freddie Mac to lower standards so "everyone" could own a home, regardless of income, and home, including a fast food worker buying a mansion who never had a chance to make to $15,000 a month payments, because they only made $20,000 a year.

 

ug, sorry for that, while there are some similarities, Hoover was an engineer, not businessman. Hoover promoted the "progressive movement", besides him running around in women's underwear in the White House, it was the robber barons in control of the "fed" reserve. Did you know there were actually two other smaller recessions between 1913, when the fed was cheated into place, and the "big" one, that helped the globalists take away all of our remaining rights?
 

Everyone already knew the fed created the recession, they create EVERY recession, depression, bubble, crash, bear/bull market, they do that by way of manipulating our currency, with the eager assistance of corrupt and very greedy politicians, the five companies that are the fed reserve are in fact the who's who of the elitists that want most of us dead, sooner than later.

I obviously cant speak for Trump, and after a few of his decisions and appointments I'm worried about the globalist influence, but there are at least three things  in our favor.

Trump is obviously a businessman, not an engineer. I have lots of engineer friends, some of them can chart the reciprocal of a cosine in their head, but can't balance their freaking checkbook.

With the government inability to control all media, it is now much harder for them to meet in secret, sneak through backdoor deals. or utilize many other deceptive methods they have gotten away with since America started. This may or may not slow them down.

The only bubble that can burst is the stock market, there's some local markets that are over extended, but aside from the core fiat economy, and the rigged currency game thrust down America's throat, any recession now will be a direct result of the government or fed reserve, BRICKS new international reserve currency notwithstanding.

 

 

Edited by divemaster5734
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I think this article is very well written with educational insight. The collapse is coming and no one not even President Trump will stop it. This is how the rich get richer. Right now retail investors (that's you and me, not institutional) are buying into the biggest bubble ever. When the shoe drops, the institutional investors will already be out of the markets. The retail investors will be left holding worthless paper. Think about how many people have their lives saving in 401Ks. Most are in stocks not bonds or money markets. Greed is in control, everyone want BIG returns. If invested in bonds and such, when stock crash you will still have your money. History is always a great teacher. Do some research and learn to protect your savings. Earning 3 or 4 percent for the next 20 years is far better than earning 20 percent this year and losing 60 percent next year.

On a side note LGD, one might think Trump told China, "Give my daughter her trademarks, or I'll cut you off" Funny she got what she wanted after that meeting. What did you get?

 

B/A

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53 minutes ago, bostonangler said:

The retail investors will be left holding worthless paper.

B/A

That's why you need to set up cryptocurrency mining servers, and keep not just gold, but silver ALSO WILL skyrocket once the manipulation is released.

It's been repeated over , and over, and over, for centuries.

Once the currency of a nation is controlled by a few elites, the rest become their slaves.

That's why EVERY peon needs to UNITE, end this petty bickering, accept the POTUS, and work together to shape his policies.

As it is, with this division being actively encouraged by the left, all they are doing is signing their OWN death warrants as well as screwing the rest of us.

Until the bickering left gets over their loss, apologizes for their hate filled attacks against their fellow slaves, and agrees to align themselves with the rest of humanity, we are doomed.

That DOES NOT MEAN getting on your freaking knese to Trump, it means stop the hypocrisy, you guys hated TPP, but then your own corrupted leader sold out, and when Trump axed it you guys STILL complained.

Then what will all those "antifa" fascism do when they don't get paid for attacking innocent humans.

The day the left declared "free speech is racist", they exposed themselves as the traitors, they are only creating the division the globalists need to convince Trump he needs to go along with them or face "consequences".

Anyone that can't see that shouldn't be allowed to vote, they just too damn stupid.

Get the hell over it, pull your heads out, and Americans CAN control Trump policies, once the elitists from both sides realize they lost, that no matter howmany lies they put out, Americans are TIRED of the oppression, then Trump will have the clout to tell the globalists to f off. 

Until then, the lefties are just ignorant tools that will be tossed aside as soon as they are not needed.

Listening to a boat load of snowflakes admit they were wrong after it is too late wont help.

The time to grow up IS NOW!

 

 

Edited by divemaster5734
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55 minutes ago, divemaster5734 said:

That's why you need to set up cryptocurrency mining servers, and keep not just gold, but silver ALSO WILL skyrocket once the manipulation is released.

It's been repeated over , and over, and over, for centuries.

Once the currency of a nation is controlled by a few elites, the rest become their slaves.

That's why EVERY peon needs to UNITE, end this petty bickering, accept the POTUS, and work together to shape his policies.

As it is, with this division being actively encouraged by the left, all they are doing is signing their OWN death warrants as well as screwing the rest of us.

Until the bickering left gets over their loss, apologizes for their hate filled attacks against their fellow slaves, and agrees to align themselves with the rest of humanity, we are doomed.

That DOES NOT MEAN getting on your freaking knese to Trump, it means stop the hypocrisy, you guys hated TPP, but then your own corrupted leader sold out, and when Trump axed it you guys STILL complained.

Then what will all those "antifa" fascism do when they don't get paid for attacking innocent humans.

The day the left declared "free speech is racist", they exposed themselves as the traitors, they are only creating the division the globalists need to convince Trump he needs to go along with them or face "consequences".

Anyone that can't see that shouldn't be allowed to vote, they just too damn stupid.

Get the hell over it, pull your heads out, and Americans CAN control Trump policies, once the elitists from both sides realize they lost, that no matter howmany lies they put out, Americans are TIRED of the oppression, then Trump will have the clout to tell the globalists to f off. 

Until then, the lefties are just ignorant tools that will be tossed aside as soon as they are not needed.

Listening to a boat load of snowflakes admit they were wrong after it is too late wont help.

The time to grow up IS NOW!

 

 

I do acquire gold and silver, but I just can't wrap my mind around cryptocurrency. I can't see how it gets or keeps value. I guess I'm too old school to believe in anything electronic. It seems to me and I'm probably wrong because I don't understand it, that one good hit to the grid would take out an electronic based currency.

 

B/A

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  • 1 month later...

That guy has been saying gold is going to over $ 10,000 an ounce for as long as I can remember ...

Hes like the dinar gurus - one day he may be right!!

 

But I've still got a small amount of gold and silver and am always on the lookout for more ...

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