US Stock Market Erupts in a Great Crash After the Ultimate Melt-Up
After a rally in the summer of 1929, the US stock market crashed in late October.
After a rally in the summer of 1929, the US stock market crashed in late October.
On March 25, 1929, after the Federal Reserve warned of excessive speculation, the stock market suffered a small crash, with call loan rates rising as high as 20%; the next day, after the National City Bank announced an injection of funds to support the market, they fell back.
In March 1929, after a warning from the Federal Reserve, the stock market suffered a mini-crash; Charles Mitchell, president of National City Bank (the predecessor of Citibank), announced $25 million in credit to prop up the market, and the call loan rate fell from 20% back to 8%.
Chiang Kai-shek launched the Purge in Shanghai, resulting in the cleansing of a large number of grassroots Kuomintang members and Communists, which led to reverse selection within the party.
The Chinese Communist Party (CCP) was founded in 1921. The program interprets its party history as a continuous historical mission to realize communism, noting that the CCP later described itself as the most advanced vanguard of the proletariat, asserting that the party cannot make mistakes. Jin Yinan's book "Suffering and Glory" is also used to illustrate the CCP's sense of historical mission and its narrative of invincibility from its founding to the present.
In 1921, Lenin dispatched Bolshevik agents to Shanghai to assist in founding the Chinese Communist Party.
Beginning in 1920, Comintern representative Voitinsky was ordered to go to China to help establish the Chinese Communist Party, and in July 1921 the CCP held its First National Congress in Shanghai; the video's claim of 1922 is inaccurate.