In 1930 America did not lack industrial capacity, fertile-farm land, skilled and willing workers or industrious farm families. It had an extensive and highly efficient transportation system in railroads, road networks, and inland and ocean waterways. 1
Communications between regions and localities were the best in the world, utilizing telephone, teletype, radio, and a well-operated government mail system. No war had ravaged the cities or the countryside, no pestilence weakened the population, nor had famine stalked the land. The United States of America in 1930 lacked only one thing: an adequate supply of money to carry on trade and commerce. In the early 1930's, Bankers, the only source of new money and credit, deliberately refused loans to industries, stores and farms.
Payments on existing loans were required however, and money rapidly disappeared from circulation. Goods were available to be purchased, jobs waiting to be done, but the lack of money brought the nation to a standstill. By this simple ploy America was put in a “depression” and the greedy Bankers took possession of hundreds of thousands of farms, homes, and business properties. 2
The people were told, “times are hard,” and “money is short.” Not understanding the system, they were cruelly robbed of their earnings, their savings, and their property. 3

Footnotes

this territory is moderated
🇳​​​​​🇪​​​​​🇽​​​​​🇹​​​​​ #617043 Money For Peace or War?
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🇵​​​​​🇷​​​​​🇪​​​​​🇻​​​​​🇮​​​​​🇴​​​​​🇺​​​​​🇸​​​​​ #616937 Adequate money supply needed
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This is a chapter of the book

Billions for Bankers & Debts for the People

The Real Story of the Money-Control Over America - by Pastor Sheldon Emry
Give it a read! Start from the...
🇮​​​​​🇳​​​​​🇩​​​​​🇪​​​​​🇽​​​​​​​​​​ #622479
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Nice editorial.
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thanks, trying to spread it across territories
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Im pretty sure my grandparents lived through this, that is why they had their habits. I remember they bought a significant amount of gold jewelry and kept silver coins.
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that look's a good habit to learn! Lucky you had the opportunity to
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say what you want, but that was tough, these poor people didn't have an alternative, now we do. Also I think when the SHTF you have no choice but move back to nature, fish, hunt grow your own food. They got stiffed, that's a lesson for us all...
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There're always many alternatives, and then it's on us to recognize them, chose and take a decision. They had alternatives back then as we do have today, and yes, the one you mention was valid then as today. Sure is today it's easier than ever to move around.
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21 sats \ 1 reply \ @252 22 Jul
Key cause: The artificially low interest rates led to a mismatch between consumer preferences and production plans. Entrepreneurs, encouraged by cheap credit, embarked on numerous long-term projects that required resources. However, when the credit bubble burst, it became clear that many of these projects were not viable, leading to widespread bankruptcies and unemployment.
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Do you think it was planned this way? I mean low interest rate on cheap credit/debt as a bite for entrepreneurs before bursting the bubble?
Or maybe just a consequence of ignorance, in the sense that the consequences of these maneuvers were innocent and unconscious?
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This is what fiat does. The banks are crooked, why do you think people have bad impressions of them? When you think of corruption, you think government and bankers.
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Do you think bitcoin could stop corruption? How?
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First off, how are they going to print bitcoin? At least that factor will be out of their hands.
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Yes correct, but there are other factors that could impact bitcoin fairness. Core Dev is one, Miners another, and there are probably others I'm unable to list here.
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Nice article from history
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thank you ☺️ I'm glad you appreciate it
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A parallel between then and now is in the roaring twenties there was speculation on pretty much everything under the sun. People took excessive risk and made tons of money - once the great depression came, people were not prepared due to the decade long spree of easy money.
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Short time preference? What make you think it will not happen again? look's like history tends to repeat itself.
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They took the money like the communists took the land. In the early days of communism the farmers were displaced and later millions starved to death because nobody cultivated the land and grow food. The same happened in the early days of capitalism, first they flooded the market with cheap money and then they took it away. Now millions lost their propery because they needed the money like a crack addict needs crack.
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Thanks for the insight, it's interesting to see it from this perspective too. What do you think will be the next thing they will deprive us of?
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Keynesian nonsense.
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not at all if you read the previous and next chapters
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I can’t say that I get it…is this satire? An adequate supply of money?
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