Connecting WWI to subsequent gov growth/influence in our lives; how soldiers got shafted

Posted by bubah1mau 1 year, 6 months ago to Economics
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Author, G.F. Smith, doesn't relate the saga of how US investors in high-interest, German/Austrian post-war bonds, leading to an outflow of US gold to Europe--nor how the June 2929 Young Plan pause of bond redemption/interest payments, making $2B in these US-held German/Austrian bonds virtually worthless, led to the deflationary spiral that closed hundreds of US banks and savings-&-loans, the vanishing of American gold-standard bank accounts, and, ultimately, the stock-market crash of October 1929 and the early 1930s. (You can find more of this grand-scale tragedy in Schuker: file:///C:/Users/potos/Downloads/schuker.pt1.american-reparations-to-germany-1919-1933%20(1).pdf )

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  • Posted by mccannon01 1 year, 6 months ago
    This article illustrates the demise of our great republic started before we were born. My grandfather was 7 when the Jekyll Island plan was foisted upon a once upon a time free people.

    I've read of the Bonus Army and its demise. Sickening that such an "army" was even needed in the USA.
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  • Posted by freedomforall 1 year, 6 months ago
    Until recently governments were responsible for most of the problems of humanity with the exception of disease and pestilence.
    Recently, powerful central government has also become responsible for those as well.
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  • Posted by 1 year, 6 months ago
    Guess there's room for a correction in my initial comment. The results of the Young Plan were announced publicly June 1929--not in the far removed future. This was just about enough time for astute investors to start selling off/taking profits on their substantially inflated equity positions.
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