24. the Great Depression

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Length: {13:58 minutes}

In this segment of “The Money Masters” with Bill Still, the focus is on the period leading up to and including the Great Depression:

  1. Post-World War I Political Agenda: The international bankers sought to control national economies and aimed at consolidating power into a global government, epitomized by the League of Nations proposed at the Paris Peace Conference. Despite efforts, nationalism prevailed, and the League of Nations did not gain U.S. ratification.
  2. The Roaring Twenties: Following World War I, the U.S. experienced unprecedented prosperity under Republican presidents like Warren Harding and Calvin Coolidge. Despite a large post-war debt, economic growth surged, fueled partly by inflows of gold into the country.
  3. Financial Policy and Warning Signs: Federal Reserve policies in the 1920s, including a significant increase in the money supply, led to a booming stock market and economic expansion known as “The Roaring Twenties.” However, this growth was unsustainable, driven by credit and speculation.
  4. The Crash of 1929: In 1929, the Federal Reserve tightened monetary policy, triggering a financial panic. Known as “Black Thursday,” this marked the beginning of the Great Depression. Critics, including Congressman Louis McFadden, accused international bankers and the Federal Reserve of orchestrating the crash to consolidate power and control.
  5. Political and Economic Fallout: The Great Depression caused widespread economic devastation, leading to social and political unrest. It raised significant questions about the influence of international bankers and their role in manipulating financial crises for personal gain.

This segment underscores the role of financial policies and international banking interests in shaping major economic events, highlighting the contentious debate over centralized banking and its consequences on national economies.

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