Friend there is always 2 sides to a story, the sanitized one that they teach you in school and tells you JP Morgan was our savior, that the panic was triggered by an earthquake, and the other dark side,have a look at this http://webskeptic.wikidot.com/zeitgeist-transcript-part-3
if you are interested i can supply you with many documents.
“[Our] Great Industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men.. who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom.”
“We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world –no government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.”
-Woodrow Wilson
Congressman Louis McFadden also expressed the truth after the passage of the bill:
“A world banking system was being set up here… a superstate controlled by international bankers.. acting together to enslave the world for their own pleasure. The FED has usurped the government.”
Now, the public was told that the Federal Reserve System was economic stabilizer and inflation and economic crises were thing of the past. Well, as history has shown, nothing was further from the truth. The fact is, the international bankers now had a streamline machine to expand their personal ambitions,
For example, from 1914 to 1919 the Fed increased the money supply by nearly 100% resulting in extensive loans to small banks and the public. Then, in 1920 the Fed called in mass percentages of the outstanding money supply. Thus resulting in the supporting banks having to call in huge numbers of loans and just like 1907, bank runs, bankruptcy and collapse occurred. Over 5.400 competitive banks outside of the Federal Reserve System collapsed further consolidating the monopoly of the small group of international bankers. Privy to this crime, Congressman Lindbergh stepped up and said in 1921:
“Under the Federal Reserve Act, panics are scientifically created. The present panic is the first scientifically created one, worked out as we figure a mathematical equation.” –Charles Lindbergh
However, the panic of 1920 was just a warm-up. From 1921 to 1929 the Fed again increased the money supply resulting once again in extensive loans to the public and banks. There was also a fairly new type of loan called the margin loan in the stock market. Very simply, the margin loan allowed an investor to put down only 10% of the stock's price with the other 90% being loaned from the broker. In other words, a person could own a $1000 worth of stock, with only a $100 down. This method was very popular in the roaring 1920's as everyone seemed to be making money in the market. However, there was a catch to this loan. It could be called in at any time and had to be paid within 24 hours. This is termed "a margin call", and a typical result of a margin call was the selling of the stock purchased with the loan. So, a few months before October in 1929, J.D.Rockefeller, Bernard Baruch and other insiders quietly exited the market. And on October 24th, 1929 the New York financiers who furnished the margin loans started calling them in, in mass. This sparked an instantaneous massive sell off in the market for everyone who had to cover the margin loans. It then triggered a mass bank runs for the same reason, in turn collapsing over 16.000 banks enabling the conspiring international bankers to not only buy up rival banks at the discount but to also buy up whole corporations at pennies on the dollar. It was the greatest robbery in American history. But that didn't stop there. Rather then expanding the money supply which were recovered from this economic collapse the Fed actually contracted it, fueling one of the largest depressions in history. Once again outraged, Congressman Louis McFadden, a long time opponent of the banking cartels began bringing impeachment proceedings against the Federal Reserve Board. Saying of the crash and depression:
“It was a carefully contrived occurrence, international bankers sought to bring about a condition of despair, so that they might emerge the rulers of us all.”
-Louis McFadden
Not surprisingly, and after two previous assassination attempts, McFadden was poisoned at a banquet before he could push for the impeachment.