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FED Follies were responsible for the Great Depression.
roadrunner
Posts: 28,303 ✭✭✭✭✭
A review of the FED's policies from 1913-1933 and how they occurred, and what they caused. This is also the best article I've read by Dr. Fekete that explains the RBD (real bills doctrine) in great working detail. A government having a stash of gold is not a gold standard. The RBD is the other key link.
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There is a great book out called "The Lords of Finance" about the financial leaders of England, France, Germany and America from the end of WW1 until the early days of the Great Depression.
It explains what they did and why it caused the collapse. The U.S. person was the head of the NY Fed.
The question remains, can another be averted? No doubt there are lessons learned... however, it is a different financial world out there now... and seemingly much more potential for an even greater financial disaster. Cheers, RickO