rubberhead
Member
- Sep 8, 2009
- 498
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- Thread starter
- #21
I was wrong about the silver exchange part. The bimetallic standard (gold and silver) ended in 1900. Between 1900 and 1913 we were on a complete gold standard. We had a crash in 1907 and the reaction, in 1913, was to give banks a safety net called the Fed. Then in 1933, I think, US citizens gold (private property) was unlawfully confiscated by FDR (who is somehow now regarded as a hero). Now, in 2009 are politicians are again trying to provide safety nets to irresponsible and inviable corporations in the interest of looking like they are doing something on the voters' behalf. How do we justfy this? They were too big to fail? Then why did they fail? Maybe they were too big to succeed!