The Collapse Begins

Awhile back I wrote an article on JP Morgan and Bear Stearns. Today we have a Bloomberg article on the seizing of IndyMac after a run by depositors. Add to the list Fannie Mae and Freddie Mac. You had better get ready for Great Depression 2.0, new and improved.

“[The Great Depression] was not accidental; it was a carefully contrived occurrence. The international Bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.” – Congressman Louis T. McFadden, Chairman of the House Banking and Currency Committee

“Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When through the process of law the common people lose their homes, they will become more docile and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system we can get them to expend their energies in fighting for questions of no importance. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished.” – 1924 US Banker’s Association Magazine

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~ by skepsis on July 12, 2008.

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