Soon thereafter, on October 24, 1929, the large brokerages all simultaneously called in their 24 hour “call-loans.” Brokers and investors were now forced to sell their stocks at any price they could get to cover these loans. The resulting market crash on “Black Thursday” was the beginning of the Great Depression.
The Chairman of the House Banking and Currency Committee, Representative Louis T. Mc Fadden, accused the Fed and international bankers of premeditating the crash. “It was not accidental,” he declared, “it was a carefully contrived occurrence (created by international bankers) to bring about a condition of despair…so that they might emerge as rulers of us all.”
He went on to accuse European “statesmen and financiers” of creating the situation to facilitate the re-acquisition of the massive amounts of gold which Europe had lost to the U.S. during WWI. In a 1999 interview, Nobel Prize winning economist and Stanford University Professor Milton Friedman stated: “The Federal Reserve definitely caused the Great Depression.”
Excerpts from the book F.D.R. – My Exploited Father-in-Law by Curtis B. Dall
Quote from Pg. 71:
Before World War I, it was said that “Jew” “Barney” Baruch was worth a million dollars or more. After World War I was over, it was alleged that he was worth about two hundred million dollars, a suitable figure for a Titan.
Jew Bernard brought his close friend Winston Churchill to New Your Stock exchange to show Winston Churchill his financial power and next day Jews withdrew from Market and sold all their holdings triggering the crash.
Winston Churchill being at the New York Stock Exchange on Black Thursday, October 24, 1929, was not “quite by chance,” as he later wrote.
Wall Street “plunger” Jew Bernard Baruch was Churchill’s “favorite American.”On October 29, 1929, the same evening of the crash, Churchill was guest of honor at a “celebration” attended to by over 40 “bankers and master plungers” of Wall Street at the Fifth Avenue mansion of Bernard Baruch.