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Economic Manipulation:
Money changers orchestrated economic booms and depressions to acquire assets cheaply and consolidate power. The 1891 ABA memo revealed plans to trigger a depression in 1894, aiming to dominate the economy and force farmers into tenancy.
Push for Silver:
Public backlash against the gold standard, which allowed bankers to control the economy, led to demands for silver currency. The “Crime of ’73”, which demonetized silver, became a rallying cry for those opposing financial manipulation.
William Jennings Bryan:
In the 1896 presidential campaign, Bryan championed the free silver movement. His “Crown of Thorns and Cross of Gold” speech passionately criticized the gold standard and called for economic reform, winning him the Democratic nomination.
This period encapsulates the struggle between financial elites and populist movements seeking monetary reform.
The video and summary of this chapter can be seen at “19. Free Silver”
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