FDR Would like a word

[Mega]

http://www.youtube.com/watch?v=kFvrL....blogspot.com/

I say just how much better than Bush he was, but to even compare them is a major insult to FDR!
Mike

[D-Mack]

Re: FDR Would like a word

But he didn't kill the Fed

A Failure to Grasp the Nature of Money

One of the most significant facts about the New Deal was Its orthodoxy on money.
For the whole twelve years he was in the White House, Roosevelt had statutory power to
issue fiat money in the form of greenbacks printed by the government without recourse to
the banks. This authority was never used. As a result of such orthodoxy, the depression's
symptoms of idle resources were overcome only when the emergency of the war in 1942
made it possible to justify a limitless increase in the national debt by limitless borrowing
from private persons and the banks. But the whole episode showed a failure to grasp the
nature of money and the function of the monetary system, of which considerable traces
remained in the postwar period.

http://www.archive.org/download/TragedyAndHope/TH.pdf