tg-me.com/bablofold/114
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JUNE 5, 1931 «To an older man it must have seemed inevitable that we were heading for a crash but to most of us it seemed that we were in a “New Era” which would never end. On the industrial side of the picture, mass production led to the formation of larger and larger mergers. We began to hear of stock market millionaires, huge extra dividends, stock split-ups, and 99 year leases in real estate, shoestring financing and all manner of speculation…» - параллели тут напрашиваются сами собой.
OCTOBER 15, 1931, 3 P.M. «The run continues on the Mahoning and Commercial banks. Both banks are still open but trying to talk depositors out of making withdrawals or giving them part of their money. A large street car bus filled with armed guards just unloaded money for the Mahoning Bank brought from the Federal Reserve Bank at Cleveland…»
JULY 1, 1933 I read an article a few days ago in the Saturday Evening Post describing the German inflation period. It is enough to strike fear into the heart of the most brave and explains why European nations are demanding stabilization of the U.S. dollar. The German inflation was a huge fraud which benefited the debtors and speculators at the expense of the large, prudent middle class. The following things happened in Germany:
a. Bonds (including governments), real estate mortgages, life insurance, bank savings and all fixed value investments became worthless because they were redeemed by debtors with depreciated money.
b. Common stocks of industrial concerns soared to fantastic heights and paid huge dividends. When stabilization came these stocks crashed and only the strongest companies survived. In spite of this common stocks proved to be the best investment.
c. Real estate owners who paid off their mortgages with depreciated currency and held on to it until stabilization came, still had something of value. The same applied to purchasers of commodities such as diamonds, etc.
d. Industries expanded, built huge additions to their plants and paid in worthless currency. Of all classes, the industrialists fared best.
e. Professional men were badly off.
JULY 6, 1933 (!!!) The European Economic Conference closes today, a complete failure mainly because U.S. refused to stabilize currency and go back to gold. It looks now as tho France and the few remaining countries will be forced to leave gold and then we will have a world wide competition in depreciated currency.
BY Outrageous Predictions
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