What Prevents Another Financial Collapse and Depression?

Great Depression breadline (detail) -- Public Domain

By Eddie Howell

The “ruling globalist elite” are frequently mentioned in political articles these days, and usually, it’s 

pointed out that these people are very secretive about their plans, their history, and often their identity. Who are the behind-the-scenes rulers pulling the strings?

The elites are often identified with the Trilateral Commission, the Bilderberg Group, the Club of Rome, and the Council on Foreign Relations, etc. “Conspiracy theorists,” who are usually simply trying to find out and present the truth, are painted as paranoid nut cases. Maybe some are, but most can see the threat posed to ordinary people by these ruling masters, the true robber barons, and would like to counteract them. The elites themselves seem to encourage confusion and enjoy being mysterious, lest people get wise to the elites’ nefarious plans, and actually do things to restrain or neutralize them.

There is quite a lot of literature and video purporting to inform about the elites’ history and objectives, and some have plausibility. Some get into bizarre theories, but many do not.

There are various names for movements and organizations which are or might be in league with the elites, and therefore attempting to take down the middle class, which is the elites’ main goal:

(In addition to those mentioned above)

Socialist organizations (They hate private profit and property.)

Communist organizations (They hate the bourgeoisie.)

Leftist labor union bosses (They object to the profits of the company owners and executives.)

The U.S. Democratic Party (Their championing of the middle class is basically a lie.)

The Federal Reserve (They have virtually unrestricted contol of the money supply,)

The Securities and Exchange Commission (They seldom go after violators and rarely report to

  any kind of oversight because the law allows this.)

Wall Street banks

Islamic jihad movement

Environmental groups

Gun control groups

and others

There is plenty of overlap among these, and many are unwitting helpers to the elites, such as the high schoolers’ anti-gun effort, and people who ignorantly support socialism.

Job seekers during the Great Depression  -- Public Domain

Mercantilism as an economic system dates back to the Middle Ages, and involved wealthy organizations seeking to secure monopoly power, using government authority, for the purpose of acquiring precious metals and achieving a favorable trade balance, and in the process, weaken their nations’ enemies and wipe out competition. Mercantilism was practiced most effectively by countries that had colonial interests, and the mercantilists worked to assure that they controlled all aspects of manufacturing, trade, and finance. 

They were mainly focused on their own financial gain and manipulated governments and others for that purpose, pushing aside independent merchants who might try to compete with them, or political opponents who might get in their way. It was a sort of “legalized” mafia, and was practiced in most major countries, competing with each other.

Displaced family during the Great Depression -- Public Domain

Wayne Jett, author of The Fruits of Graft* describes the elites as mercantilists, which seems an apt term. Mercantilism, as practiced by the ruling elites today, seeks the financial gain of mega-rich elites, as Jett shows, and is focused on inflicting harm and destruction on the productive middle class, resulting in a two-class system (elites and serfs), as described in 1901 by H.G. Wells in his book Anticipations...**  Jett calls this book the elitist manifesto. It advocates the removal of the middle class through taxation, wars, and killing, in order to restore the “natural order” of things.

Wells greatly impressed both Theodore Roosevelt and Franklin D. Roosevelt during their respective presidencies and conferred with leading mercantilists of the day. Jett powerfully argues that the mercantilists executed the Great Crash of 1929, and largely by actions of Franklin     D. Roosevelt, made the ensuing Great Depression much deeper and longer lasting than it might  have been otherwise.

 Franklin D. Roosevelt, Eleanor Roosevelt, and Joseph Robinson in Washington, D.C., First Inauguration, March 4, 1933 (National Archives).

Through deliberately counterproductive policies and acts, FDR destroyed much of the wealth of the middle class, and the poor also suffered greatly. While presenting himself as concerned for the “forgotten man,” he actively pursued actions which destroyed people he supposedly was trying to help. Millions of Americans needlessly starved to death thanks to these manipulations. Correction: The actual number of people who starved to death is difficult to determine. Some figures given are from 3 to 7 million; others say that starvation occurred, but was not that widespread. It is well established, however, that many people went hungry and many suffered from malnutrition and related diseases, such as rickets. Diseases such as tuberculosis and pneumonia increased, and many died of exposure. Often, children were without milk, and many people generally could not afford medical treatment or sufficient nourishing food. All this took place while FDR had economic means of recovery at his fingertips, but the continuing high taxes and gold hoarding by the Administration, monetizing neither the vast gold purchases nor the gold confiscated from the public, kept most people with little to no money, and suffering accordingly. 

Jett details these things and meticulously documents them. He also documents the mercantilists’ destructive actions in the dot-com bubble burst of 2000-2001 and the Crash of 2008 during the Great Recession. His descriptions of what happened in each of these episodes are alarming. They also are supported by historical facts and classical economic analysis.

The elites are working to put the middle class out of business and out of existence. This is what happened as a result of the elitist-supported Russian Revolution of 1917, and preliminary conflicts in the years leading up to it. A civilization of over 1,000 years was destroyed. The middle class “bourgeoisie” faced murder or imprisonment. With much of the skilled and productive middle class gone, the communists were left with few skills for governing, and leaders whose murderous bloodthirst gave their nation a lawless dictatorship. Millions of murders of citizens took place. Leftists in the U.S. today would like to imitate that process here.

Some ways that are pointed out as being used to destroy the middle class include higher taxes (thus the Democrats’ opposition to the Trump tax cuts), and lack of government attention to destructive practices in the financial markets. The stock market meltdowns of 1929 and 2008 were brought about deliberately through unrestrained, often fraudulent, short-selling for the benefit of elite buyers of the distressed shares and assets at very low prices. Investors were, in many cases wiped out. On many fronts, changes are needed to reduce the elitists’ power and protect American citizens.

So what has been done in light of the 2008 collapse that will prevent a similar occurrence in the future? Scandalously little! The Fed still can run wild with the value of the dollar, the IRS can abuse its authority, the SEC can run interference for those they are supposed to be regulating, and dark markets for commodities can still operate. Hedge funds can still largely operate in secret. All it would take to cause a 2008-type crash might be a decision by the elite powers that be to spread false rumors about target companies’ financial strength, launch stock market bear attacks, then wait for the dust to settle and step in to buy what’s left, on the cheap. Meanwhile, watch out for your IRA and 401(K). Of course, the elite geniuses will probably come up with something sneakier next time. Trump Administration vigilance might be able to foil such an attack by the Deep State Swamp. But until big changes are made, it seems the danger remains.

 Following is a YouTube video in which Mr. Jett explains some things about his book.

*Wayne Jett, The Fruits of Graft (Los Angeles: Launfal Press, 2011). I highly recommend this book.

** H. G. Wells, Anticipations of the Effects of the Reaction of Mechanical and Scientific Progress upon Human Life and Thought (New York and London: Harper & Brothers, 1901).