Will we choose to subject ourselves — this great country — to the despotism of bureaucracy, controlling our every act, destroying what equality we have attained, reducing us eventually to the condition of impoverished slaves of the state? Or will we cling to the liberties for which man has struggled for more than a thousand years? It is important to understand the magnitude of the issue before us” - Lewis W. Douglas excerpt from Lawrence W. Reed. “Great Myths of the Great Depression (FEE)
One morning, as Roosevelt ate eggs in bed, he and Secretary of the Treasury Henry Morgenthau decided to change the ratio between gold and paper dollars. After weighing his options, Roosevelt settled on a 21-cent price hike because “it’s a lucky number. - Lawrence W. Reed. “Great Myths of the Great Depression (FEE).
One observer, commenting on this remarkable turn of events, noted that of two men walking down the street at the start of 1933 — one with a gold coin in his pocket and the other with a bottle of whiskey in his coat — the man with the coin would be an upstanding citizen and the man with the whiskey would be the outlaw. A year later, precisely the reverse was true.- Excerpt From: Lawrence W. Reed. “Great Myths of the Great Depression (FEE).” iBooks.
FDR talked Congress into creating Social Security in 1935 and imposing the nation’s first comprehensive minimum-wage law in 1938.
John Maynard Keynes: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”