Let me make this pellucidly clear for the hacks

[Kid Berwyn]

64. The Wall Street Putsch of 1933.

Why is so little known about the 1930s coup attempt against FDR?

Business leaders like JP Morgan and Irénée du Pont were accused by a retired major general of plotting to install a fascist dictator

Sally Denton
The Guardian, January 11, 2022

Excerpt…

FDR thought government in a civilized society had an obligation to abolish poverty, reduce unemployment, and redistribute wealth. Roosevelt’s bold New Deal experiments inflamed the upper class, provoking a backlash from the nation’s most powerful bankers, industrialists and Wall Street brokers, who thought the policy was not only radical but revolutionary. Worried about losing their personal fortunes to runaway government spending, this fertile field of loathing led to the “traitor to his class” epithet for FDR. “What that fellow Roosevelt needs is a 38-caliber revolver right at the back of his head,” a respectable citizen said at a Washington dinner party.

In a climate of conspiracies and intrigues, and against the backdrop of charismatic dictators in the world such as Hitler and Mussolini, the sparks of anti-Rooseveltism ignited into full-fledged hatred. Many American intellectuals and business leaders saw nazism and fascism as viable models for the US. The rise of Hitler and the explosion of the Nazi revolution, which frightened many European nations, struck a chord with prominent American elites and antisemites such as Charles Lindbergh and Henry Ford. Hitler’s elite Brownshirts – a mass body of party storm troopers separate from the 100,000-man German army – was a stark symbol to the powerless American masses. Mussolini’s Blackshirts – the military arm of his organization made up of 200,000 soldiers – were a potent image of strength to a nation that felt emasculated.

Snip…

The Gray Shirts of New York organized to remove “Communist college professors” from the nation’s education system, and the Tennessee-based White Shirts wore a Crusader cross and agitated for the takeover of Washington. JP Morgan Jr, one of the nation’s richest men, had secured a $100m loan to Mussolini’s government. He defiantly refused to pay income tax and implored his peers to join him in undermining FDR.

So, when retired US Marine Corps Maj Gen Smedley Darlington Butler claimed he was recruited by a group of Wall Street financiers to lead a fascist coup against FDR and the US government in the summer of 1933, Washington took him seriously. Butler, a Quaker, and first world war hero dubbed the Maverick Marine, was a soldier’s soldier who was idolized by veterans – which represented a huge and powerful voting bloc in America. Famous for his daring exploits in China and Central America, Butler’s reputation was impeccable. He got rousing ovations when he claimed that during his 33 years in the marines: “I spent most of my time being a high-class muscle man for big business, for Wall Street and for bankers. In short, I was a racketeer for capitalism.”

Butler later testified before Congress that a bond-broker and American Legion member named Gerald MacGuire approached him with the plan. MacGuire told him the coup was backed by a group called the American Liberty League, a group of business leaders which formed in response to FDR’s victory, and whose mission it was to teach government “the necessity of respect for the rights of persons and property”. Members included JP Morgan, Jr, Irénée du Pont, Robert Sterling Clark of the Singer sewing machine fortune, and the chief executives of General Motors, Birds Eye and General Foods.

Continues…

https://www.theguardian.com/commentisfree/2022/jan/11/trump-fdr-roosevelt-coup-attempt-1930s


Where US media fear tread, BBC Radio also presents solid information:

https://www.bbc.co.uk/radio4/history/document/document_20070723.shtml