Exerpt from tarpley's book (didn't even read yet) http://www.tarpley.net/29crash.htm THE BRITISH RECORD OF STARTING WALL STREET PANICS The British had a long track record of using the London Bank Rate (that is, the rediscount rate of the Bank of England) for financial and economic warfare against the United States. The periodic panics of the nineteenth century were more often than not caused by deliberate British sabotage. A few examples: * In the Panic of 1837, the stage had been set for depression by outgoing President Andrew Jackson's and Secretary of the Treasury Roger Taney's abolition of the Second Bank of the United States, by their cultivation of the state "pet" banks, by their imbecilic Specie Circular of 1836, which demanded gold payment to the federal government for the purchase of public lands, and by their improvident distribution of the Treasury surplus to the states. London's ultinmate weapon turned out to be the Bank of England bank rate. With all the American defenses sabotaged, the Bank of England sharply raised its discount rates, sucking gold specie and hot money liquidity back across the Atlantic, while British merchants and trading houses cut off their lines of credit to their American customers. In the resulting chaos, not just private banks and businesses went bankrupt, but also the states of Mississippi, Louisiana, Maryland, Pennsylvania, Indiana, and Michigan, which repudiated their debts, permanently impairing US credit in the world. Internal improvements came to a halt, and the drift towards secession and civil war became more pronounced. * The Panic of 1873 resuted from a British-directed effort to ruin the banking house of Jay Cooke and Company, which had served Lincoln and his successors as a quasi-governmental agency for the marketing of United States Treasury securities and railroad bonds during and after the Civil War. The Cooke insolvency had been preceded by a massive dumping of US staocks and bonds in London and the rest of Europe. This was London's way of shutting down the Civil War boom that Lincoln's dirigist and protectionist policies had made possible. Instead, a long US depression followed. * The Panic of 1893 was prepared by the 1890 "Baring panic" in London, caused by the insolvency of Barings Bank, the same one which went bankrupt and was sold off in the spring of 1995. In the resulting depression, the US Treasury surplus was reduced to almost nothing, and a budget defecit loomed. Using this situation as a pretext, British speculators drove the exchange rate of the dollar down to the point where owners of gold began exporting their gold to London. Treasury gold stocks dipped below $100,000,000, and then kept falling to $68,000,000; US national bankruptcy threatened. In response to this crisis, subversive President Grover Cleveland gave control of the US public debt to the New York banking houses of Morgan and Belmont, themselves British agents of influence. Cleveland "sold out to Wall Street" by selling US gold bonds to Morgan and Belmont at reduced prices, with the taxpayers picking up the tab; Morgan and Belmont promised to "use their influence" in London to prevent further British bear raids against the US dollar and gold stocks. All of this caused another long depression.
Yes 24h. Next time it will 48h, ... guess the serie I leave little by little. I have retired from nttp forum in the same way: I have been there for 4 years before. So one day you won't see anymore on ET if I find another forum maybe http://www.financialsense.com/ although it's not very active.
Thanks! That's a story to warm the Cockles of any Englishman's Heart. We can do the dirty with the best of them.
Well I have read the stuffs above it's rather subjective interpretation from Tarpley. I only care about facts. Nevertheless I have other documents that show more clearly facts.
Well, Jonny, that was then, probably the heydays of British Empire. Just kidding. Soon it will be the Chinese. tc
I'm french but I didn't really choose at birth I don't feel that I'm especially proud or ashame to be french ... the same if I was british or american . I could post the same kind of things against French especially about the Revolution time I don't care if it is french or not if it is Historical facts. BTW do you know that many american presidents are descendant of noble british families and themselves is essentially from the branch of french Charlemagnes King . Not even a joke it is a famous genealogy institution that did the research wich was published on Reuters unhappily I don't remember on what machine I did archive that . As for english monarchs it's nothing astonishing since they are descendant of Charlemagne since William the Conqueror invade England ! If you don't know who was William http://www3.dcs.hull.ac.uk/cgi-bin/gedlkup/n=royal?royal01380 William I the Conqueror, King of England Born: 1028, Falaise,Normandy,France Acceded: 25 DEC 1066, Westminster Abbey, London, England Died: 9 SEP 1087, Hermentrube, Near Rouen, France Interred: St Stephen Abbey,Caen,Normandy Notes: Reigned 1066-1087. Duke of Normandy 1035-1087. Invaded England defeated and killed his rival Harold at the Battle of Hastings and became King. The Norman conquest of England was completed by 1072 aided by the establishment of feaudalism under which his followers were granted land in return for pledges of service and loyalty. As King William was noted for his efficient if harsh rule. His administration relied upon Norman and other foreign personnell especially Lanfranc Archbishop of Canterbury.
At least I have a link http://www.burkes-american-presidents.com/sites/america/sitepages/page70.asp "36 of the 42 Presidential families can be traced back to England, Scotland, Ireland or Wales. Many President's families are linked to those of British Peers or Baronets"