Reply To: Great Depression


Hey Tom, Just finished your liberty classroom lecture on the great depression. I am sure there could be a whole section on this topic alone. Question. The USA was supporting Britain, who set their exchange rate, when they returned to the gold standard, at pre WW I levels. Did the US have their interest rate too low, not to compete with Britain? In other words, when the US should have raised rates, they kept them below Britains, thus easy money and stock market bubble. Is that how the US debased the dollar. (Its funny, I kept typing we when I wanted United States. I am not a we anymore.)