freeonlineuser on Nostr: Investor Joseph Kennedy Senior, sold all of his stocks and investments right before ...

Investor Joseph Kennedy Senior, sold all of his stocks and investments right before the 1929 stock market crash that introduced the world to The Great Depression. While not causing the crash, a high profile investors selling is potential fuel for contagion. Weakened after WW1 this depression caused the UK and a number of other countries including Australia and Canada to suspend the gold standard never to return, to support their economies with 'financial stimulus' money printing. Joseph Kennedy Sr. made large financial investments at these bargain basement prices, cementing his families fortune. President Roosevelt then made Kennedy the first chairman of the US Security Exchange Commission SEC in 1934 the same year that the Gold Reserve Act was passed, restricting individuals from owning gold. And he passed the first law preventing insider trading.