Personal diaries from the American Great Depression era reveal what governments don't want people to know about the corruption and villainy of high street banks...
December 1930: the bank of the United States (a private bank with no actual government status) collapses in what was the largest bank failure in US history at the time, freezing some $200 million in depositors funds
Prices are falling rapidly and the dollar buys you a lot more today than it did a couple of years ago, the problem is, there is no money in circulation
March 1930: Long lines of people can be seen withdrawing their deposits from the bank today, the bank officials look scared, (then a few days later):
No bank withdrawals are allowed today, they are doing an audit they tell me. Everything will be back to normal on Monday the manager has just told us all in line.
At home, the president is on the radio and tells us not to panic, all is well
The banks cannot allow withdrawals anymore because the money is no longer there. The banks explain that they lent the money to people for mortgages and businesses which they can no longer collect upon. This is due to homes being in the negative & business at a standstill, there is no hope, how will we ever escape this trap?
Bank holidays are used as a way to stop people withdrawing money.
Entry 1: Without warning, all banks, which are not even connected to one another, restrict withdrawals to 5% of balances! This all occurred on the same day. I’m told this has happened not just here, but across many Cities! It’s hard not to think suspicious thoughts.
Entry 2: It has come to light that The 5% withdrawal restriction was passed into law in a secret meeting… I am starting to lose all faith in our Government.
But anyone who deposits new money in the bank may withdraw on demand
There was constant restructuring of the banks with broken promises, constantly going back to freezing withdrawals even of the accounts that had recently deposited money!
Cash is King, if you have cash you can buy assets like stocks for pennies on the dollar, the problem is that very few people have any cash
Cash is the only thing that talks these days, no checks or credit are accepted, anywhere
There is no money in circulation anywhere. Scrip is now used in place of money in most major cities since cash is so hard to come by
July 1933: there is yet again another criminal case against some bankers in the newspaper today. The investigation shows that the officers manipulated the figures in the financial reports and made loans to themselves for speculation without collateral
At the same time, other bankers were promoting and selling their stock just the day before it collapsed, taking vast profits but leaving those who had bought the stock bankrupt as it crashed to being worthless - (according to the report, they sold these worthless stocks to those with very little money to begin with)
More and more banking corruption comes to light on a weekly basis
There were breeches in integrity everywhere, lawyers and bank officials were the main culprits. The bank officials were stealing people's money to live luxuriously with their family, while children on their doorstep were starving. What have we become? Have we really fallen so far from God's grace?
March 1930: Our banks are collapsing at an ever-increasing rate, taking the depositors money along with them, 20% of the banks we’re told, have already collapsed
August 1931: The panic starts to set in as the banks closed their doors with depositors money inside
October 1931: dozens of banks start to combine into larger banks as they consolidate power
After 2 years, people's money at the bank is still frozen, yet the banks are open for new business!
Banks closing every single week, (March of 1933) almost every single bank in the country has now closed
April 1934: The banks start to remove restrictions on deposits frozen for over 3 years. People can finally get access to their now devalued money again
"Music is the only sensual pleasure without vice." - Samuel Johnson (1709-1784)
Edited 3 time(s). Last edit at 28-Dec-20 02:22 by Milo.
|Things governments don't want people to know about the villainy of high street banks||125||Milo||28-Dec-20 02:15|
|Mod Note > Topic Moved||57||Dr. Troglodyte||28-Dec-20 15:25|