>>12544849friendly reminder that highschool history curriculum around the world lies about the great depression.
in 1920s FED dumped about 30 billion dollars into the economy. They weren't printing money but they allowed Fractional-reserve banking which created alot of non-existant money.
look it up. In way they operated bank could create 10$ from single dollar.
Federal gov tried to help the world and encouraged businessmen to keep the wages high so that money does not loose it's purchasing power, which caused gigantic unemployement. Another brilliant idea from feds was rising trade tariffs to the highest level ever in history of the USA which ramped up the prices of many things FOOD included.
Which was catastrophicfor the unemployed people who were simply going hungry.
tldr: it was the government that caused the crisis, and prolonged it. Don't get fooled by the powers that b. Look up austrian economic theory
