RE: Hoover
An excellent post.
Russian Famine 1921 (see below) I think that few are aware that Hoover took a lead role in relieving the Russian famine. I think that he was sending food instead of advice to contract the ruble supply. (I have always felt that there was something very twisted about FDR in that America having pulled the Bolshevik's (Stalin) chestnuts out of the fire in 1921, and having watched Stalin ally himself with Hitler to divide Poland, he hadn't developed the greatest contempt and suspicion of Stalin and didn't let the Russians and Germans bleed each other white before stepping in to pick up the pieces. FDR certainly was suspicious of the Japanese.)
WHAT's THE CURE? .... The cure is bankruptcies and foreclosures - liquidation of excessive private debts.
An excellent point. I would add sarcastically that that would have been the case in 2008 before (almost) all private debts were made public (especially after Timmiy's Christmas Eve massacre wherein he made you and me effectively buy FNE/FRE's debt). I think that it is time for a public default. Any number of economists point out the parallel situation that today as in '32 or thereabouts, it is impossible for the government to create inflation and print its way out. So the stealthy way is not available. Best to be a man about it and just default. Speaking of default, I see that there is a movement afoot to raise the Social Security retirement age.
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Russian famine of 1921
The Russian famine of 1921, also known as Povolzhye famine, which began in the early spring of that year, and lasted through 1922, was a severe famine that occurred in Bolshevik Russia. The famine, which killed an estimated 5 million, affected mostly the Volga-Ural region.[1][2][3]
The international relief effort
Although no official request for aid was issued, a committee of well-known people without obvious party affiliations was allowed to set up an appeal for assistance. In July 1921 the writer Maxim Gorky published an appeal to the outside world, claiming that millions of lives were menaced by crop failure. At a conference in Geneva on 15 August organised by the International Committee of the Red Cross and the League of Red Cross Societies, the International Committee for Russian Relief (ICCR) was set up with Dr Fridtjof Nansen as its High Commissioner. The main participants were Hoover's American Relief Administration, along with other bodies such as the American Friends Service Committee and the International Save the Children Union, which had the British Save the Children Fund as the major contributor.[6] |
