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AMERICA'S ONGOING ECONOMIC DESTRUCTION
Fed Chairman Bernanke finally admits what most scholars have known for years. The Federal Reserve actually caused the Great Depression in 1929 and resulted in World War II. This was documented in Black Gold Hot Gold (see below)
Bernanke: Federal Reserve
Caused the Great Depression
Despite the varied theories espoused by many establishment economists, it was none other than the Federal Reserve that caused the Great Depression and the horrific suffering, deprivation and dislocation America and the world experienced in its wake. At least, that's the clearly stated view of current Fed Chairman Ben Bernanke.
The worldwide economic downturn called the
Fed Reserve chairman Bernanke
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Great Depression, which persisted from 1929 until about 1939, was the longest and worst depression ever experienced by the industrialized Western world. While originating in the U.S., it ended up causing drastic declines in output, severe unemployment, and acute deflation in virtually every country on earth. According to the Encyclopedia Britannica, "the Great Depression ranks second only to the Civil War as the gravest crisis in American history."
In "A Monetary History of the United States," Nobel Prize-winning economist Milton Friedman along with coauthor Anna J. Schwartz lay the mega-catastrophe of the Great Depression squarely at the feet of the Federal Reserve.
Bernanke ended his speech with...Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.... (cont'd)
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HAARP Was Last On 3.39 MHz Friday Mar 28,2008
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