Werzit

Intel - History
Controlled Disintegration of the Economy

"In God we trust.
All others we monitor."

 

Economics | History | Intelligence | Military | Regions | Religion | Terrorism

 
    


US President Richard Nixon

1971 - August 15th
Nixon Takes US Dollar Off Gold Reserve Standard 
  •  
  •  


Cover to another book by Fred Hirsch

1977
CFR Publishes "Alternatives to Monetary Disorder" 
  • One of the primary authors is Fred Hirsch, whom Volcker references in the Controlled Disintegration speech.
  • Hirsch was the former editor of the London Economist magazine
  •  


Paul Volcker

October 1978
Paul Volcker Delivers Controlled Disintegration Speech in Coventry, England
  • Speech, published by US Federal Reserve (link) entitled "Post-Hegemonic US Economic Hegemony"
  •  


Volcker appointed Fed Chairman

1978-1980
Jimmy Carter Deregulates Airline Industry, Railroad Industry, and Trucking Industry
  • Jimmy Carter Deregulates Airline Industry, Railroad Industry, and Trucking Industry, with Destructive Results Each Time
  •  


Volcker appointed Fed Chairman

August 1979
Volcker Appointed Federal Reserve Chairman
  •  
  •  


Americans Taken Hostage in Iran

November 4, 1979
Iranian Students Storm US Embassy in Tehran
  •  
  •  

November - December 1980
Prime Lending Rate Commercial Banks Reaches 21.5%
  •  
  •  


Reagan-era Kemp-Roth tax act

1981
Kemp-Roth Tax Act 
  • Opened up real estate and stock market speculation
  • Ruined US fiscal policy
  • In earlier, saner times, the US government created highly successful tax incentives for productive investments in capital improvements, such as the Kennedy era's investment-tax-credit program.
  • Kemp-Roth did the direct opposite, drawing the money out of investment in productive capital, and pouring it into what became the gigantic financial cancer of today...
  • Kemp-Roth cut the tax rates on financial gains, thus reducing the Federal tax revenues (thus inflating the Federal debt to levels way beyond those achieved by the Carter Administration's deregulation binge).
  •  

1982
Garn-St Germain Act 
  • Enacted in 1982 that deregulated the Savings and Loan industry. This Act turned out to be one of many contributing factors that led to the Savings and Loan crisis of the late 1980s.
  • Deregulated US banking system, shifting financing physical production into pure speculation
  • Garn-St Germain destroyed much of the essential structure of regulation upon which the post-Hoover recovery from Andrew Mellon's Great Depression depended.
  • Garn-St Germain set up the previously illegal way in which "junk bond", derivatives, 
  • and similar Wall Street forms of piracy, looted the ruined savings and loan industry.
  •  

1983
Volcker Re-Appointed Federal Reserve Chairman
  •  
  •  

Project 1980s Book by CFR Allegedly Promotes Ideas Laid Out from Controlled Disintegration of the Economy
  •  
  •  

End 1984
Interest Rates Remained in Double Digits Through End of 1984
  •  
  •  

Cheaper Asian Imports Begin To Flood US Markets, to Compensate
  •  
  •  

Alan Greenspan Replaces Paul Volcker as Federal Reserve Chairman (August 11, 1987)
  •  
  •