Sunday, March 23, 2014

Who have been the victims of "executive assassination" in America? Without exception, the guns of Wall Street have been aimed at the chief exponents of what is called "The American System of Political Economy."

The American System is not Keynesianism or socialism; not libertarianism or anarchism; but the system combining a national bank, a protective tariff, restraints on financial speculators and support for manufacturing, agriculture and the general welfare. Among the martyrs of this system are:

Alexander Hamilton: The architect of America's first national bank, monetary, infrastructure and industrial policies. Hamilton was murdered in a duel by Aaron Burr, the founder of what is now JP Morgan Chase Bank. Burr tried to sell the Louisiana territory to the British, and later advised the presidency of Andrew Jackson.

Abraham Lincoln: The "great emancipator" was also the founder of America's rail and steel industries, its land grant Universities, the Homestead Act, enactor of its highest protective tariff, all in 4 years. Assassin John Wilkes Booth has been linked to a wide-ranging conspiracy in the service of London banks.

James Garfield, William McKinley and Warren Harding: These 3 Lincoln Republicans were all champions of high protective tariffs and opponents of British imperialism. Garfield and McKinley were shot by "lone nuts" and Harding, also a target of the Teapot Dome scandal, is suspected to have been poisoned.

Franklin D. Roosevelt: The enemy of Wall Street, fascism and colonialism, and champion of American working man, FDR was America's longest-serving president for good reason. He survived several early assassination attempts, including the one that felled Chicago mayor Anton Cermak. Though his death is assumed to have been due to a stroke, Josef Stalin confided in FDR's son Elliot that his father had been poisoned by "The Churchill Gang."

John F. Kennedy: Kennedy's "moon shot" mentality, his caution on the Vietnam war and firing of his warmonger cabinet, his hostility to Wall Street interests and cartels, and his introduction of US Treasury money (1964 silver quarters) were among the reasons he became intolerable to Wall Street and London.

If you believe the myth of "lone nuts," you owe yourself a listen to JFK's haunting "Secret Societies" speech:
The Tariff Democrats were in favor of was rather high as well, a 25% effective tariff. Also Harding and Coolidge slashed income taxes drastically for the top 2% of the country, this is not exactly an Administration that should be thought highly of. That McKinley is underappreciated, of that there is little doubt. Also the silver dollars conspiracy is not a solid theory. In Modern Monetary economics inflation has remained quite low. Metallism is no basis, we now know, for a monetary system, only the national economy itself is.
  • United Front Against Austerity (UFAA) I agree with your last point. Garfield and McKinley were in favor of bimetallism (currency backed by silver and gold), which was at least an improvement over gold-backed currency, as silver was easier to obtain, and would allow for modest inflation so borrowers could pay their debts more easily (see WJ Bryan's Cross of Gold speech). They all would have been better off with a national bank, as the founders had intended. But it's not so easy to do when you get shot dead a couple months or years into your term.

    We can't always apply our viewpoints to historical events. Here's background on the Kennedy silver coinage issue: - I suspect Kennedy's intentions were similar to those of the bimetallists; to keep control of the US silver supply, and to exert some control over the Fed. Of the above list, Hamilton, Lincoln and FDR showed how it's done, though even their methods could be improved by a purely fiat money based on federal lending for productive investments.
    This executive order delegated to the Secretary of the Treasury the president's ...See More
  • United Front Against Austerity (UFAA) Also, who are these tariff Democrats you speak of? Wilson – who lowered rates by 15%? FDR was the first decent Democratic president, and by that time, the Democrats had basically inherited the old Republican policies.
  • Alexander Grable The Tariff from the Revenue Act is estimated to have put the effective dutiable as high as 26% lower than it was to be sure, but still plenty high. In any case at that time America was the foremost industrial power trading with countries like France, Britain and Germany which were comparable in living standards to the United States.
    The United States Revenue Act of 1913 also known as the Tariff Act, Underwood Ta...See More
  • Alexander Grable A far better thing for this page to focus on would be, in my view, the excessive demonization of the Smoot-Hawley Tariff. Did it worsen the Depression? Yes. Was it a huge factor? No. The issue was falling income and deflation not tariffs.
  • United Front Against Austerity (UFAA) There are actually good arguments based on production statistics that Smoot-Hawley reduced the severity of the depression. I don't think it will be of much interest to this page, but it's certainly a useful argument to have against libertarians who have just enough brain power to memorize the words "Smoot-Hawley".
    for one read his speech to be referring to communism, yes. That doesn't mean the same cautions can't be applied to nasty people and groups today. Do you see it differently, H. K.?
    • United Front Against Austerity (UFAA) While this was a minor detail of the post, and not something worth dwelling on, I would have to give JFK more credit for being able to perceive greater threats to America than communism. He says,

      "[T]here is very grave danger that an announced need for increased security will be seized upon by those anxious to expand it's meaning to the very limits of official censorship and concealment."

      Why would he be pleading with the press to help him warn anyone about communism? This is 7 years after the McCarthy hearings, it's not an unknown or taboo subject, and "communists" don't have the ability to censor and conceal American policy. When you hear him describe a "ruthless, monolithic conspiracy," keep in mind he's already being warned by General MacArthur about the Wall Street agents in his own cabinet.
      Two of these presidents--Lincoln and Kennedy--wanted to abolish the Federal Reserve banking system and an interest-based monetary system, and the bankers couldn't stand for that, so POW POW POW.
      United Front Against Austerity (UFAA) Don't forget about Hamilton (albeit not a president)! We did a post some weeks ago about the context of the Burr/Hamilton duel, where Burr established the Manhattan company specifically to undermine Hamilton's national bank. Hamilton dragged Burr's dirty deeds out into public view, a public pissing match ensued, and the rest is history!

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