Some things ARE highly relevant in comparing the Great Depression to now.The money supply was limited because the US was tied to the Gold Standard and by law no more currency could be printed than the value of US gold reserves.This is what made the Depression so long and hard.There was simply not enough money to lend.Banks collapsed,businesses failed,unemployment skyrocketed in a Dominoe effect.
In 1934 FDR used a law from 1917 in relation to their entering WW1 that in a "National Crisis" citizen's assets could be seized to pay for the survival of the nation.He confiscated American's privately held gold.Not until 1973 when Richard Nixon abandoned the Gold Standard could American's buy gold.
FDR then raised the gold price from $25 to $32 an oz. Thus devaluing the US $ and providing money to fund his New Deal.Times were tough but slowly improved until WW2 created great prosperity.
In 1973,gold,now not held at $32 an oz. took off with ups and downs to todays price.
This also allowed the US to crank up the printing presses and print unlimited Dollars.If printing money solved economic mismanagement,Zimbabwe would be the richest nation on earth.Nicaragua would recall their currency and print more zeros on the value.
Which is where the US in denial.Trillions of dollars in debt and still printing money 24 hours a day.The US $ is no longer the safe haven reserve currency of the world.Once countries holding trillions of $ of US Treasury Bonds start cashing them in for a safer medium,massive inflation will occur.Obama inherited a $10 trillion debt.The US GDP is $16 trillion.The US debt may well double with bailing out the fallout from Bush's and Clinton's Presidencie's.The US is bankrupt.
Since time immemorial gold and silver were the coinage of the realm.Put a 1 oz. gold wafer and $1000 US in a jar and bury it for 10 years.In 2019 what will each buy you then?
With no assets (collateral) to back the rising US debt,gold & silver is set to again become the safe haven of fiat currency.The price can no longer be manipulated and controlled.The US $ will soon collapse unleashing a Depression on an unprecedented scale.People are realizing this now and buying every gold coin and bar available.Silver and gold is only going to go up and up.The US simply cannot print their way out budget deficits begun in 1973.

Of interest to Canadians re seizure of assets as FDR did. Bill C-124 signed into law in 1993 under Brian Mulroney gives the Government the power to confiscate all Canadians' RRSP's,property,bank accounts etc. in the case of a "National Emergency." Food for thought indeed.

GF1488 (from STKHouse board "G")