You are the one who doesn't know history. Even Bernanke admitted and
apologized for the Federal Reserve making the depression of the 1930's
worse by tightening the money supply. Go take a course on elementary
economics and learn something.





On Sun, 11 Nov 2012 18:27:48 -0800, "David Kaye"
wrote:

"J" wrote

The depression was caused by the Federal Reserve tightening the money
supply. The best thing to do would be to eliminate the Federal
Reserve and their money juggling policies.

You don't know a THING about history, do you? The Great Depression was
caused by people buying stocks on 10% margin, the EXACT same thing that
caused the housing collapse in 2008 -- the EXACT SAME THING. When it's time
to call in those debts, people didn't have the money to pay off their stocks
and the stock prices collapsed. In 2008 people didn't have the money to pay
down their mortgages. In both cases, people were betting that they'd find a
bigger sucker where they could unload their stocks/homes. But they ran out
of suckers and, like the game of musical chairs, when everybody sat down,
they were left standing.

THE FEDERAL RESERVE IS THE BEST THING TO HAPPEN TO AMERICA. I say this
because in other countries, it's easy for politicians to be popular by
printing up more money and letting inflation run rampant. The Federal
Reserve prevents this monkeying with the money supply by very judiciously
managing the amount of money being issues. YOU SHOULD BE THANKFUL that the
Federal Reserve exists because it has kept the dollar the STRONGEST currency
in the world!

Remember that oil is sold in dollars, not euros, not yen, not yuan, or even
in gold. Because the dollar is more stable than any of those other
currencies.


J