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The Soon Coming Judgment Of God Upon America and How To Escape It 314
This act establishes the most gigantic trust on earth. When the President
signs this bill, the invisible government by the Monetary Power will be
legalized….
1253
He further stated:
This is the Aldrich Bill in disguise…. The new law will create inflation
whenever the trusts want inflation….
1254
In his book The Economic Pinch, Charles Lindberg Sr.’s warned of the consequences of
the Fed, he wrote: “From now on depressions will be scientifically created.”
1255
Leading up to the
great depression, between 1923 and 1929, the Federal Reserve began to work at bring about
Lindberg’s warning. The Fed expanded (inflated) the money supply by sixty-two percent. The
stock market was run up to “dizzying heights” as a result of the increase in money supply.
1256
In 1928 the House Hearings on Stabilization of the Purchasing Power of the Dollar
warned that the Fed, in 1927, had planned a major crash. The Committee disclosed evidence that
the Federal Reserve Board was working closely with the heads of European central banks. These
banks were not interested in a strong US economy.
1257
Confirming the conclusions of the House Committee, in February of 1929 the Federal
Reserve Board reversed its monetary expansion (increase in money supply) and began raising the
discount rate (decreasing the money supply). The money supply, which had been inflated
constantly for about seven years, was about to implode the entire US economy through its
contraction. By 1940 the Fed had succeeded in reducing the total money supply by over 60%
from its high in 1929.
1258
The Fed’s plan went into action on October 24, 1929, on that date they
pulled the carpet out from under the economy. “Writing in The United States’ Unresolved
Monetary and Political Problems, William Bryan describes what happened:”
When everything was ready, the New York financiers started calling 24-
hour broker call loans. This meant that the stockbrokers and the customers had to
dump their stock on the market in order to pay the loans. This naturally collapsed
the stock market and brought a banking collapse all over the country because the
banks not owned by the oligarchy were heavily involved in broker call claims at
this time, and bank runs soon exhausted their coin and currency [their reserves]
and they had to close. The Federal Reserve System would not come to their aid,
although they were instructed under the law to maintain an elastic currency.
1259
Bryan was saying that the Fed not only caused the problem, they would not help in spite
of the fact that the law required them to come to the aid of the banks. Most all who were invested
in the stock market took horrendous losses, many lost everything they had except for the
Insiders. Paul Warburg had provided a warning on March 9, 1929, providing a signal to the
Insiders that it was time to sell. Following is his quote from the Financial Chronical:
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