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Say Man...

Federal Reserve

The Federal Reserve Act Of 1913

A Harbor for criminals

 

Michael Meehan and a small group of men formed a pool to buy RCA stock at the ground level price.

After planting stories in the papers using stooge reporters , the price was manipulated to a price 50% higher.

At this point everybody wanted to buy at the high price before it was too late to get in on the deal.

It was already too late. People bought on margin, that is to say that they put down 10% of the value.

When the price fell due to” THE Pool” dumping stock(selling below market value) ,the call went out to put in more money to hold the stock bought on credit.

At the same time credit was not available because of 20% interest rates.

In today’s mess no one put down any amount of money as security , they just signed for it.

Buy now pay later. We always get stuck with the pay later part.

This is not an accident.

Hold your taxes……

See how the big boys cry when the people they ask for a bailout tell them to let it fall.

Institutions seeking help from the people should do public service in order to earn the money.

Roger Babson sounded the alarm in 1927.

Can you hear the bell toll yet? It tolls for thee.

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