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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: Haim R. Branisteanu who wrote (48450)	4/11/2009 7:16:07 AM
From: elmatador	of 217798

Tariffs made sure no one would compete with the US. The more the Europeans slaughtered themselves the better for the raising power. US wanted to make sure they would raise on top of the European (1910-1920) rubble of the old empires without competition. Fordney-McCumber tariff act in 1922 which increased tariffs with an eye to increasing domestic firms' market share. Brazil was the country of the future Argentina was richer than Switzerland and then tariffs were imposed. Even today the US is afriad of 88 million Mexicans as Perot said. The Canadians who are minnows do not pose any danger being only a mere another US state. The tariffs: Sponsors and legislative history The act was pioneered by Senator Reed Smoot, a Republican from Utah, and Representative Willis C. Hawley, a Republican from Oregon. When running for president in 1928, one of Herbert Hoover's many campaign promises to help beleaguered farmers had been to raise tariff levels on agricultural products. Hoover won, and Republicans obtained comfortable majorities in the House and in the Senate in 1928. Hoover then asked Congress for an increase in tariff rates on agricultural goods and a downward revision in rates on industrial goods. The House passed a version of the act in May 1929, raising tariffs on agricultural and industrial goods alike. The Senate debated its bill until March 1930, with many Senators trading votes based on their states' industries. The conference committee then aligned the two versions, largely by moving to the higher House tariffs.[5]

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