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§769 Wall Street Crash (1929.10): VIII-28.

VIII-28 (§769):

The simulacra of gold and of silver so inflated,
That after the kidnapping in a lake shall have been thrown.
In debt all extinct and troubled,
Among the inscribed marbles the before-inscribed ones interjected.

(Les simulachres d'or & d'argent enflez,
Qu'apres le rapt au lac furent gettez
Au descouvert estaincts tous & troublez.
Au marbre escript prescripz intergetez. [№10])

NOTES: The simulacra of gold and of silver: = Securities. Many of interpreters of Nostradamus used to see in this phrase ‘paper money, paper currency’ (e.g., Laver, 1942, p.222; Cheetham, 1973, p.317; Hogue, 1997, p.640; Halley, 1999, p.143), but in principle and above all under the gold standard, paper currency is equivalent to gold, and even under a ‘managed currency’ it is given a legal and public guarantee, while securities are essentially private and most imitative. Moreover, ‘vouchers’ such as paper money, postage stamps, revenue stamps, etc. do not belong to the category of ‘securities’, each being fundamentally different from the other in character. The most characteristic difference is that vouchers never become worthless, while securities are liable to be eventually zero in value in case of bankruptcy, etc. Therefore, If the phrase of the second line: « in a lake shall have been thrown » does mean ‘will be worthless’ (Lamont, 1942, p.142), it is not valid for paper money, but only for securities. The only one who has interpreted this not as paper money but as securities (papiers et valeurs) is Dr. Fontbrune (Fontbrune, 1939, p.135).

Le rapt: = Literally kidnapping. But in the context of the sudden rise and fall of securities, it may mean ‘loss of the monetary value of securities’, namely their ‘crash’ (loss of nest eggs).

Getter: = Jeter; « geter, getter, getray, etc. V. jeter (See throw).» (Daele)
.

Furent gettez (were thrown): = Auront été jetées (shall have been thrown), this type of substitution sometimes seen in the Prophecies of Nostradamus (e.g., VIII-53, X-20 and X-57).

Descouvert: = Default of obligations. « descouvert. n. deficit, shortage.» (Dubois); « descouvert. la dette (the debt).» (Fontbrune, id.).

Estainct
: = estaint = éteint (extinct): Reasonably meaning a suicide in a great depression in the context of the ‘gravestones’ (marbles) of the fourth line.

Marbre (marble): = « tombeau (tomb).» (Fontbrune, id.).  

Le marbre escript
: = the inscribed marbles: = the gravestones newly built in contrast with the before-inscribed existing ones.


[Les marbres] prescripz: = the before-inscribed existing gravestones.

Au marbre escript prescripz intergetez
: = ‘Among the new gravestones the old ones interjected’, which is an ironical, but logical reversed expression of a fact. The regular style is as follows: Au marbre prescripz intergetez le marbre escript, namely ‘The new gravestones are interjected among the old ones’.

Now, this custom of building an individual gravestone for burying a new individual deceased is properly Western and far from that in Japan where peoples have in general their own family grave to bury in common each member when died. Therefore, this quatrain is judged to refer not to 1990s’ depression in Japan, but to that of USA in autumn 1929 to the beginning of 1930. In fact, at that time the USA adopted the gold standard and it was only in March 1933 that she suspended it. Then paper money was not an imitative of gold or silver but truly a convertible currency, though in practice the conversion itself having been in a malfunction. Thence we can conclude that in this quatrain it concerns ‘securities’ excluding paper money. And in reality the U.S. dollar did not suffer such a sudden rise and fall.

« A fortnight before this scene [on Friday 3 October 1929], Winston Churchill, who until earlier that year had been Britain’s Chancellor of the Exchequer for five years, wrote to his wife from America:

Now my darling I must tell you that vy gt & extraordinary good fortune has attended me lately in finances. Sir Harry McGowan asked me rather earnestly before I sailed whether he might if an opportunity came buy shares on my account without previous consultation. I replied that I could always find 2 or 3,000 £. I meant this as an investment limit i.e. buying the shares outright. He evidently took it as the limit to wh I was prepared to go in a speculative purchase on margin. Thus he operated on about ten times my usual scale... So here we have recovered in a few weeks a small fortune... It is a relief to me to feel something behind me and behind you all.

It is interesting that Churchill should have been speculating on margin right up to the brink of the crash. He was one of about 600, 000 trading on margin of the 1,548,707 customers who, in 1929, had accounts with firms belonging to America’s twenty-nine stock-exchanges. At the peak of the craze there were about a million active speculators, and out of an American population of 120 million about 29-30 million families had an active association with the market. Churchill, despite his experience and world-wide contacts, was no better informed than the merest street-corner speculator. The American economy had ceased to expand in June. It took some time for the effects to work their way through but the bull market in stocks [The simulacra of gold and of silver so inflated] really came to an end on 3 September, a fortnight before Churchill wrote his joyful letter. The later rises were merely hiccups in a steady downward trend. On Monday 21 October, for the first time, the ticker-tape could not keep pace with the news of falls and never caught up; in the confusion the panic intensified and speculators began to realize they might lose their savings and even their homes [In debt troubled]. On Thursday 24 October shares dropped vertically with no one buying [the kidnapping], speculators were sold out as they failed to respond to margin calls, crowds gathered in Broad Street outside the New York Stock Exchange, and by the end of the day eleven men well known on Wall Street had committed suicide [In debt extinct]. One of the visitors in the gallery that day was Churchill himself, watching his faerie gold vanish. Next week came Black Tuesday, the 29th, and the first selling of sound stocks in order to raise desperately needed liquidity. Great stock-exchange crises, with their spectacular reversals of fortune and human dramas, make the dry bones of economic history live...» (Johnson, 1991, p.230-231).


« The credit inflation petered out at the end of 1928. The economy went into decline, in consequence, six months later. The market collapse followed after a three-month delay. As we have seen, the Stock Exchange fall began in September and became panic in October. On 13 November, at the end of the panic, the index was at 224, down from 452. There was nothing wrong in that. It had been only 245 in December 1928 after a year of steep rises. The panic merely knocked out the speculative element, leaving sound stocks at about their right value in relation to their earnings. If the recession had been allowed to adjust itself, as it would have done by the end of 1930 on any earlier analogy, confidence would have returned and the world slump need never have occurred. Instead, the market went on down, slowly but inexorably, ceasing to reflect economic realities – its true function – and instead becoming an engine of doom, carrying to destruction the entire nation and, in its wake, the world. By 8 July 1933 New York Times industrials had fallen from 224 at the end of the panic to 58 [The simulacra of gold and of silver after the kidnapping in a lake shall have been thrown]. US Steel, selling at 262 before the market broke in 1929, was now only 22. GM, already one of the best-run and most successful manufacturing groups in the world, had fallen from 73 to 8. By this time the entire outlook for the world had changed – infinitely for the worse.» (Johnson, id., p.240-241).
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© Koji Nihei Daijyo, 2018. All rights reserved.
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Koji Nihei Daijyo

Author:Koji Nihei Daijyo
We have covered 143 quatrains (§588-§730) concerning the World Events in the 19th century after Napoleonic ages [1821-1900] in the Prophecies of Nostradamus, and 219 in the 20th [1901-2000] (§731-§949).

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