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To: Eddy Blinker who wrote (317)	6/9/2001 3:09:01 PM
From: Ilaine	Read Replies (2) \| Respond to of 443

>>That is what people perceive of the Nuernberg trials<< I don't know what "people" perceive of the Nuremberg trials, Eddy. I wasn't talking to "people", I was talking to Freddy, who is a very educated man. >>your attempts to shift the entire blame of the US Depression on to banks-the FED in particular<< You really don't know what you're talking about, and you are quite tiresome. At the moment, I am exploring US loans by private citizens to Germany during the interwar period, as well as US investment in German cartels. I've seen some very good work that places the start of the Great Depression in Germany, roughly 1927-1928, when the US quit lending money to Germany, and Germany then started defaulting on the already outstanding loans. I've also posted at great length about the decline in commodity prices, especially in agriculture. Short selling on the Chicago stock exchange could explain price movements in the commodities markets before September, 1929, but stocks weren't traded in Chicago until - not sure if it was September or October, 1929, have to check my notes, but the Great Depression was not caused by the stock market crash. The big decline in commodities prices was also multi-factorial, due to overproduction, and worldwide deflation caused by national policies involving the gold standard. People on the thread who defend the gold standard claim that the deflation was a natural result of adherence. I question that - but then, I question a lot of things. That's why it's called "research" - I am searching for answers. You, on the other hand, think you have the answers - and that's great. I am so pleased for you. As you say, "Henry Ford thought that it could`t just all be coincidence." Message 15910731

To: Eddy Blinker who wrote (317)	6/11/2001 11:19:35 PM
From: JF Quinnelly	Respond to of 443

Now while I am at it I may as well also criticise your attempts to shift the entire blame of the US Depression on to banks-the FED in particular. One of the more prominent economists to argue that the American banking system was at fault is Joseph Schumpeter. He faulted the American system of restricting banks to small geographic areas as a primary reason that the Depression affected America more than other countries. Friedman and Schwartz, monetarists, tend to place the onus on Fed mistakes which failed to save small banks from collapse. Either way there was a 30% decline in the money supply from 1930-34 as thousands of banks went under.