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Posted: 10/21/2016 7:06:44 PM EDT
I knew the Depression was bad of course, but I never knew that some cities and states started issuing their own paper money during the worst part of it.
Wow! 
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again. |
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Posted: 10/21/2016 7:41:53 PM EDT
[#1]
Stick around, Kid.
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Posted: 10/21/2016 7:46:23 PM EDT
[#2]
Quote HistoryQuoted:
Stick around, Kid. Do you know this was trending to a "zero reply thread" and then you ruined it? 
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Posted: 10/21/2016 8:27:05 PM EDT
[#3]
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again. 
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold |
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Posted: 10/21/2016 8:33:57 PM EDT
[#4]
Read This.
In a nutshell FDR had the banks closed for 4 days so they could refill them will badly needed cash. It was an Incredible success. |
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Posted: 10/21/2016 8:43:30 PM EDT
[#5]
My grandmother has some of the City of Detroit script.
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Posted: 10/21/2016 8:44:49 PM EDT
[#6]
Probably the last time Detroit had any money.
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Posted: 10/21/2016 8:48:38 PM EDT
[#7]
Amazing that this was after the last great unpleasantness.
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Posted: 10/21/2016 8:51:28 PM EDT
[#8]
Quote HistoryQuoted:
Probably the last time Detroit had any money. That would have been Korean War. |
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Posted: 10/21/2016 9:36:55 PM EDT
[#9]
My mom told me my teacher grandpa was paid in script by the Ann Arbor public schools. It was good at grocery stores and other local businesses.
Meanwhile he planted food and fruit trees and raised rabbits to eat. |
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Posted: 10/21/2016 9:38:01 PM EDT
[#10]
It's mentioned in the book, The Forgotten Man.
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Posted: 10/21/2016 11:20:13 PM EDT
[#11]
Quote HistoryQuoted:
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold Quote HistoryQuoted:
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again.
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. |
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Posted: 10/21/2016 11:52:23 PM EDT
[#12]
Quote HistoryQuoted:
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold Quote HistoryQuoted:
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again.
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold I think the only thing that has helped stave off a depression like the 1930s is the free flow of cash from printing. At least, that is definitely what the Fed thinks by keeping interest rates so low. |
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Posted: 10/21/2016 11:52:54 PM EDT
[#13]
CA issued some IOU nonsense a few years ago, as well.
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Posted: 10/21/2016 11:54:41 PM EDT
[#14]
Quote HistoryQuoted:
CA issued some IOU nonsense a few years ago, as well. I want to say I think Illinois tried it too, at least as regards public agency debt to the private sector. |
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Posted: 10/21/2016 11:59:11 PM EDT
[#15]
Quote HistoryQuoted:
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold Quote HistoryQuoted:
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again.
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold lol I don't think it's going to workout how you think it is. Different economics, or whatever. |
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Posted: 10/22/2016 12:00:03 AM EDT
[#16]
Quote HistoryQuoted:
Read This. In a nutshell FDR had the banks closed for 4 days so they could refill them will badly needed cash. It was an Incredible success. Thanks. Probably something I read in college and had long forgotten. At some point in this chain of events the issuance of scrip was prohibited by Federal law, right? |
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Posted: 10/22/2016 12:01:10 AM EDT
[#17]
Quote HistoryQuoted:
I think the only thing that has helped stave off a depression like the 1930s is the free flow of cash from printing. At least, that is definitely what the Fed thinks by keeping interest rates so low. Quote HistoryQuoted:
Quoted:
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again.
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold I think the only thing that has helped stave off a depression like the 1930s is the free flow of cash from printing. At least, that is definitely what the Fed thinks by keeping interest rates so low. there are a plethora of reasons it wasn't as bad today as it was back then. 1. money isn't tied to gold, how you gonna fix a liquidity problem when you can inject liquidity? 2. Leverage wasn't as nearly as bad the past time. 3. Also, we haven't even started infrastructure spending yet, sans the limited amount of build america bond projects, that is going to be the next form of economic stimulus. 4. You can still buy a house with 3.5% to 0% down. 5. FDIC exist and the limits were raised, also no one uses cash like they did back in '29. |
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Posted: 10/22/2016 12:11:43 AM EDT
[#18]
my grandfather was kicked out of his family during the great depression because they couldn't afford to feed him
so he climbed on a freight train to the west the railroad cops caught him and broke his skull with billy clubs and then threw him off the train onto the cinders he woke up a few days later on the side of the tracks he was 14 years old then a few years later WWII started and he got drafted the rest of his family survived on cabbage they stole from local famers in Philladelphia remember that next time you're complaining about your excess weight and how the history channel is boring and how your car tires wore out too fast on your honda |
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Posted: 10/22/2016 12:15:34 AM EDT
[#19]
Quote HistoryQuoted:
my grandfather was kicked out of his family during the great depression because they couldn't afford to feed him so he climbed on a freight train to the west the railroad cops caught him and broke his skull with billy clubs and then threw him off the train onto the cinders he woke up a few days later on the side of the tracks he was 14 years old then a few years later WWII started and he got drafted remember that next time you're complaining about your excess weight and how the history channel is boring and how your car tires wore out too fast on your honda Yep. According to my father, my grandfather had at one point covered three states looking for work, and found none. During said time, his family went for three days with nothing to eat except a stick of butter they shared amongst themselves. We have no concept today of what "hard times" look like. (BTW, my grand uncle WAS one of those railroad cops). |
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Posted: 10/22/2016 12:18:24 AM EDT
[#20]
Quote HistoryQuoted:
Yep. According to my father, my grandfather had at one point covered three states looking for work, and found none. During said time, his family went for three days with nothing to eat except a stick of butter they shared amongst themselves. We have no concept today of what "hard times" look like. Quote HistoryQuoted:
Quoted:
my grandfather was kicked out of his family during the great depression because they couldn't afford to feed him so he climbed on a freight train to the west the railroad cops caught him and broke his skull with billy clubs and then threw him off the train onto the cinders he woke up a few days later on the side of the tracks he was 14 years old then a few years later WWII started and he got drafted remember that next time you're complaining about your excess weight and how the history channel is boring and how your car tires wore out too fast on your honda Yep. According to my father, my grandfather had at one point covered three states looking for work, and found none. During said time, his family went for three days with nothing to eat except a stick of butter they shared amongst themselves. We have no concept today of what "hard times" look like. I grew up on stories of the depression and the dust....there is a reason I keep a large larder... |
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Posted: 10/22/2016 12:18:30 AM EDT
[#21]
K
Quote HistoryQuoted:
my grandfather was kicked out of his family during the great depression because they couldn't afford to feed him so he climbed on a freight train to the west the railroad cops caught him and broke his skull with billy clubs and then threw him off the train onto the cinders he woke up a few days later on the side of the tracks he was 14 years old then a few years later WWII started and he got drafted the rest of his family survived on cabbage they stole from local famers in Philladelphia remember that next time you're complaining about your excess weight and how the history channel is boring and how your car tires wore out too fast on your honda Those damn railroad bulls beat the punctuation out of him unto the third generation. |
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Posted: 10/22/2016 12:19:13 AM EDT
[#22]
Saint Peter don't you call me 'cause I can't go
I owe my soul to the company store |
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Posted: 10/22/2016 12:21:38 AM EDT
[#23]
Droughts and Dreams is a good read. Git it at your library.
Some WW II memoirs (both US and German) covers the writers' youth & gives some good insights on tough times. I expect script to return for a short while and when people are hurting enough for food to feed their family, they'll accept ANY solution offered to them. This will empower those who created this mess with even greater power. |
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Posted: 10/22/2016 12:21:50 AM EDT
[#24]
Quote HistoryQuoted:
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. Quote HistoryQuoted:
Quoted:
Quoted:
I heard stories about what my grandparents went through during the Depression that were unbelievable. Hard times, indeed. Hope we never see anything like it again.
What exactly do you think will happen when interest rates finally rise, after 7+ years of being at or below zero? The Great Depression was caused by the fuckstick Fed lowering interest rates in the 20s. Roaring 20s = depression 30s. Food Guns Gold
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. Well, he's probably retarded. Posted Via AR15.Com Mobile |
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Posted: 10/22/2016 12:26:12 AM EDT
[#25]
Quote HistoryQuoted:
K Those damn railroad bulls beat the punctuation out of him unto the third generation. Quote HistoryQuoted:
K Quoted:
my grandfather was kicked out of his family during the great depression because they couldn't afford to feed him so he climbed on a freight train to the west the railroad cops caught him and broke his skull with billy clubs and then threw him off the train onto the cinders he woke up a few days later on the side of the tracks he was 14 years old then a few years later WWII started and he got drafted the rest of his family survived on cabbage they stole from local famers in Philladelphia remember that next time you're complaining about your excess weight and how the history channel is boring and how your car tires wore out too fast on your honda Those damn railroad bulls beat the punctuation out of him unto the third generation. Lol. |
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Posted: 10/22/2016 12:05:13 PM EDT
[#26]
Quote HistoryQuoted:
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. I'm sorry. I didn't mean to be a douche. Just been studying this thing for 3 years now and want to get it over with. We'll be lucky to get through it with food and liberty. Unfortunately it looks like it might be an either/or. |
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Posted: 10/22/2016 12:19:24 PM EDT
[#27]
Quote HistoryQuoted:
I'm sorry. I didn't mean to be a douche. Just been studying this thing for 3 years now and want to get it over with. We'll be lucky to get through it with food and liberty. Unfortunately it looks like it might be an either/or. Quote HistoryQuoted:
Quoted:
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. I'm sorry. I didn't mean to be a douche. Just been studying this thing for 3 years now and want to get it over with. We'll be lucky to get through it with food and liberty. Unfortunately it looks like it might be an either/or. So, in 3 years your conclusion is that the only way out is financial collapse? |
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Posted: 10/22/2016 2:04:25 PM EDT
[#28]
Quote HistoryQuoted:So, in 3 years your conclusion is that the only way out is financial collapse? Quote HistoryQuoted:So, in 3 years your conclusion is that the only way out is financial collapse? Which way we go is up to our leaders. We could do the right thing and liquidate. "Now imagine a bankrupt USA. Instead of playing pretend and tweaking our current system of government and finance, we could rebuild from scratch....
We wouldn't find ourselves in the midst of Mad Max or some other post-apocalyptic world. There would be no cannibalism, and our buildings would not be crumbling. There would be some "austerity" in this period, but that would be the fever ridding the economy of its toxins. Let me ask you: What is the alternative? Pretending and pretending that we can repay our debts until one day, bam, like Greece, our creditors make a run on the bank? Or do we try to inflate our way out of the debt, risking hyperinflation, and complete collapse? Our economy and our government are in a car that is out of control, accelerating down an icy hill. We need to steer it into the ditch before things get even worse. We're not going to avoid this crash. The best we can do is try to control it ourselves and brace for impact." p.274 The Real Crash; Peter Schiff Since the Fed has chosen to buy up toxic assets and balloon its balance sheet, yes. It seems as though they will not stop until they blow the dollar. It's amazing it's lasted this long. |
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Posted: 10/22/2016 2:10:52 PM EDT
[#29]
Quote HistoryQuoted:
Which way we go is up to our leaders. We could do the right thing and liquidate. Since the Fed has chosen to buy up toxic assets and balloon its balance sheet, yes. It seems as though they will not stop until they blow the dollar. It's amazing it's lasted this long. Quote HistoryQuoted:
Quoted:So, in 3 years your conclusion is that the only way out is financial collapse? Which way we go is up to our leaders. We could do the right thing and liquidate. "Now imagine a bankrupt USA. Instead of playing pretend and tweaking our current system of government and finance, we could rebuild from scratch....
We wouldn't find ourselves in the midst of Mad Max or some other post-apocalyptic world. There would be no cannibalism, and our buildings would not be crumbling. There would be some "austerity" in this period, but that would be the fever ridding the economy of its toxins. Let me ask you: What is the alternative? Pretending and pretending that we can repay our debts until one day, bam, like Greece, our creditors make a run on the bank? Or do we try to inflate our way out of the debt, risking hyperinflation, and complete collapse? Our economy and our government are in a car that is out of control, accelerating down an icy hill. We need to steer it into the ditch before things get even worse. We're not going to avoid this crash. The best we can do is try to control it ourselves and brace for impact." p.274 The Real Crash; Peter Schiff Since the Fed has chosen to buy up toxic assets and balloon its balance sheet, yes. It seems as though they will not stop until they blow the dollar. It's amazing it's lasted this long. In order for those things to come to fruition, the rest of the world would need growth. Also, the fed owns mostly longer duration bonds. What is Schiff's timeline? |
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Posted: 10/22/2016 2:39:22 PM EDT
[#30]
Quote HistoryQuoted:
In order for those things to come to fruition, the rest of the world would need growth. Also, the fed owns mostly longer duration bonds. What is Schiff's timeline? As if the rest of the world needs America for growth? America is the world's largest debtor nation. A nation that produces little but consumes a lot. It simply trades what is becoming monopoly money for goods to boot. If the world economy is a train, America is the caboose. They are better off cutting off the caboose and consuming their own goods. Maybe if America paid them in gold it would be worth it. Timing is easy. Either a) when the rest of the world wises up and stops buying as many treasuries as they are or b) when interest rates rise. Since the Fed has implicitly told us they won't raise interest rates by keeping them at 0% for seven long, great depression causing years, the market will force them up. And that would be very ugly. Technically the Fed has already lost control of interest rates since they can't raise them without sending the country into a calamity due to all the debt (that we didn't have in the 30s). So, it's like the eye of a hurricane. Everyone knows something is wrong, but few people can put a finger on it. |
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Posted: 10/22/2016 4:26:33 PM EDT
[#31]
Quote HistoryQuoted:
I'm sorry. I didn't mean to be a douche. Just been studying this thing for 3 years now and want to get it over with. We'll be lucky to get through it with food and liberty. Unfortunately it looks like it might be an either/or. Quote HistoryQuoted:
Quoted:
Yeah, because somewhere in my post I suggested otherwise, right, genius? I am well aware of the potentially disastrous long term effects of policies like QE1 and QE2. I can still hope that American children don't experience starvation as a result. I'm sorry. I didn't mean to be a douche. Just been studying this thing for 3 years now and want to get it over with. We'll be lucky to get through it with food and liberty. Unfortunately it looks like it might be an either/or. No problem, guy. I didn't mean any offense either. I understand how you feel. |
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Posted: 10/22/2016 5:45:19 PM EDT
[#32]
Quote HistoryQuoted:
As if the rest of the world needs America for growth? America is the world's largest debtor nation. A nation that produces little but consumes a lot. It simply trades what is becoming monopoly money for goods to boot. If the world economy is a train, America is the caboose. They are better off cutting off the caboose and consuming their own goods. Maybe if America paid them in gold it would be worth it. Timing is easy. Either a) when the rest of the world wises up and stops buying as many treasuries as they are or b) when interest rates rise. Since the Fed has implicitly told us they won't raise interest rates by keeping them at 0% for seven long, great depression causing years, the market will force them up. And that would be very ugly. Technically the Fed has already lost control of interest rates since they can't raise them without sending the country into a calamity due to all the debt (that we didn't have in the 30s). So, it's like the eye of a hurricane. Everyone knows something is wrong, but few people can put a finger on it. Quote HistoryQuoted:
Quoted:
In order for those things to come to fruition, the rest of the world would need growth. Also, the fed owns mostly longer duration bonds. What is Schiff's timeline? As if the rest of the world needs America for growth? America is the world's largest debtor nation. A nation that produces little but consumes a lot. It simply trades what is becoming monopoly money for goods to boot. If the world economy is a train, America is the caboose. They are better off cutting off the caboose and consuming their own goods. Maybe if America paid them in gold it would be worth it. Timing is easy. Either a) when the rest of the world wises up and stops buying as many treasuries as they are or b) when interest rates rise. Since the Fed has implicitly told us they won't raise interest rates by keeping them at 0% for seven long, great depression causing years, the market will force them up. And that would be very ugly. Technically the Fed has already lost control of interest rates since they can't raise them without sending the country into a calamity due to all the debt (that we didn't have in the 30s). So, it's like the eye of a hurricane. Everyone knows something is wrong, but few people can put a finger on it. I meant in order for the US to be weak the rest of the world has to grow, out dollar is so strong right now. We can be the largest debtor nations but it matters more of both debt service and % of debt to GDP. |
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Posted: 10/22/2016 6:03:08 PM EDT
[#33]
Quote HistoryQuoted:
Which way we go is up to our leaders. We could do the right thing and liquidate. Since the Fed has chosen to buy up toxic assets and balloon its balance sheet, yes. It seems as though they will not stop until they blow the dollar. It's amazing it's lasted this long. Quote HistoryQuoted:
Quoted:So, in 3 years your conclusion is that the only way out is financial collapse? Which way we go is up to our leaders. We could do the right thing and liquidate. "Now imagine a bankrupt USA. Instead of playing pretend and tweaking our current system of government and finance, we could rebuild from scratch....
We wouldn't find ourselves in the midst of Mad Max or some other post-apocalyptic world. There would be no cannibalism, and our buildings would not be crumbling. There would be some "austerity" in this period, but that would be the fever ridding the economy of its toxins. 0 Let me ask you: What is the alternative? Pretending and pretending that we can repay our debts until one day, bam, like Greece, our creditors make a run on the bank? Or do we try to inflate our way out of the debt, risking hyperinflation, and complete collapse? Our economy and our government are in a car that is out of control, accelerating down an icy hill. We need to steer it into the ditch before things get even worse. We're not going to avoid this crash. The best we can do is try to control it ourselves and brace for impact." p.274 The Real Crash; Peter Schiff Since the Fed has chosen to buy up toxic assets and balloon its balance sheet, yes. It seems as though they will not stop until they blow the dollar. It's amazing it's lasted this long. Which way we go depends on We the People. If the people are awake, it is an opportunity for a new birth of American freedom. If the people are asleep, then they will accept the enslavement offered in exchange for security and food. The price of course will be discarding that old rag we call the Constitution and the Bill o' Rites. So, do the people awake and realize how they've been deceived and cheated or do they submit docilely like sheep. As with respects to the debt, that depends again on We the People. If the people realize how their wealth is stolen, they cast out and exile those at fault. If not, the jubilee will be for the really big boys. Little boys and girls will enjoy no jubilee. The transfer of middle class wealth to the uber-rich will be complete. Either way it's going to hurt. The path to liberty means that we will pay for our sins on the promise that grandchildren yet to be born will enjoy a better life. The other path means we've sold the unborn children into slavery. Glad I'm an old phart and really don't have much to worry about. |
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Posted: 10/22/2016 6:04:46 PM EDT
[#34]
Quote HistoryQuoted:
I meant in order for the US to be weak the rest of the world has to grow, our dollar is so strong right now. We can be the largest debtor nations but it matters more of both debt service and % of debt to GDP. Best horse in the glue factory. We are the largest debtor nation and don't believe our GDP. Remember, it includes 0-Care.
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Posted: 10/22/2016 6:09:48 PM EDT
[#35]
Quote HistoryQuoted:
Best horse in the glue factory. We are the largest debtor nation and don't believe our GDP. Remember, it includes 0-Care. Quote HistoryQuoted:
Quoted:
I meant in order for the US to be weak the rest of the world has to grow, our dollar is so strong right now. We can be the largest debtor nations but it matters more of both debt service and % of debt to GDP. Best horse in the glue factory. We are the largest debtor nation and don't believe our GDP. Remember, it includes 0-Care. Yep, our sub 3% growth is sad at best. I only bring up the GDP #'s because Japan pretty much was about 10-15 years ahead of us with their own errily similar financial/real estate crisis and they have been carrying very large debt to GDP ratios for a long time now. |
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