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Tommy Palven
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Smoot-Hawley Tariff Act
Aug 8th, 2019 at 9:16am
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Some feel that the Smoot-Hawley Tariff Act was part of the reason that the Great Depression wasn't a simple blip in the business cycle:

https://www.britannica.com/topic/Smoot-Hawley-Tariff-Act
  
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yamcha
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Re: Smoot-Hawley Tariff Act
Reply #1 - Aug 8th, 2019 at 9:48am
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Not according to Milton Friedman:

"Jewish financiers, Paul Warburg, Bernard Baruch, Eugene Meyers, and other 'Fed' bankers intentionally triggered the Great Depression... which killed at least three million... more Americans died from Fed instigated famine and related "malnutrition" and disease causes, than were killed by Hitler's Nazi armies and Japan's genocidal imperial armies... in all of World War II put together."

  
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Jacob
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Re: Smoot-Hawley Tariff Act
Reply #2 - Aug 8th, 2019 at 10:07am
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Tommy Palven wrote on Aug 8th, 2019 at 9:16am:
Some feel that the Smoot-Hawley Tariff Act was part of the reason that the Great Depression wasn't a simple blip in the business cycle:

https://www.britannica.com/topic/Smoot-Hawley-Tariff-Act


Basically everything Hoover and FDR did expanded the Great Depression.
  
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BobK71
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Re: Smoot-Hawley Tariff Act
Reply #3 - Aug 8th, 2019 at 3:34pm
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Smoot-Hawley (slapping tariffs on trading partners) took a lot of the blame for the Great Depression, and especially for the worst part, if you read conventional economics.  (And if you spell S-H with TRUMP, you have an idea where today's events are heading, and who's the fall guy!)

The truth is, modern financial crises have happened regularly since the Spanish Empire defaulted on sovereign debt in the 1500s.

Whenever you mix government power with money and debt, you always get a bubble (because people believe in the wealth and power of the sovereign, at first.)  The bubble always bursts eventually, because the elites always have the incentives to support it with deceit, force, etc., and thus making the bubble ever bigger and more unstable.

Thus, you have to laugh, when a trade issue becomes the focus of blame.  But that is the narrative promoted by the elites, to divert attention from the real flaws of the basic operating system.
  
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The Opposition
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Re: Smoot-Hawley Tariff Act
Reply #4 - Aug 8th, 2019 at 9:20pm
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yamcha wrote on Aug 8th, 2019 at 9:48am:
"'Fed' bankers intentionally triggered the Great Depression... which killed at least three million... more Americans died from Fed instigated famine and related "malnutrition" and disease causes, than were killed by Hitler's Nazi armies and Japan's genocidal imperial armies... in all of World War II put together."


So? It wasn't aggression. More people die of old age than Nazis kill too. The difference is, the latter is aggression.

They have to have boom and bust cycles so they can make money. Lending is not as profitable without controlled busts where most people will default, and that way the banks can gain control of property.

You and Bob are essentially complaining about the free market.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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yamcha
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Re: Smoot-Hawley Tariff Act
Reply #5 - Aug 8th, 2019 at 9:26pm
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How am I complaining about the free market?  The free market is great.  I am complaining about those who use force to stop the free market.  That was a quote from Milton Friedman, not me. Who are they?  The fed bankers?  And who is Bob?
  
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The Opposition
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Re: Smoot-Hawley Tariff Act
Reply #6 - Aug 8th, 2019 at 9:32pm
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yamcha wrote on Aug 8th, 2019 at 9:26pm:
How am I complaining about the free market?  The free market is great.  I am complaining about those who use force to stop the free market.  That was a quote from Milton Friedman, not me. Who are they?  The fed bankers?  And who is Bob?


Bob is the poster above you. And controlling the dollar supply is not force. The Federal Reserve is a private business.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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yamcha
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Re: Smoot-Hawley Tariff Act
Reply #7 - Aug 8th, 2019 at 9:51pm
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The Opposition wrote on Aug 8th, 2019 at 9:32pm:
The Federal Reserve is a private business.


Yes, I know that but most people do not.  the Fed intentionally disguises itself as a government entity.  They are no more federal than FedEx.  Do you think this is fraud?
  
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The Opposition
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Re: Smoot-Hawley Tariff Act
Reply #8 - Aug 8th, 2019 at 10:39pm
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yamcha wrote on Aug 8th, 2019 at 9:51pm:
Yes, I know that but most people do not.  the Fed intentionally disguises itself as a government entity.  They are no more federal than FedEx.  Do you this is fraud?


I don't really care. If someone thinks they've been defrauded they can sue and a court can decide that.

The dollar is a product of the Federal Reserve, a private business. So of course they're going to control it to make as much money as possible. It is right that they should, and the boom and bust cycle is how they go about it. If people starve as collateral damage, oh well. People die. If it's not aggression it doesn't need to be punished.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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yamcha
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Re: Smoot-Hawley Tariff Act
Reply #9 - Aug 8th, 2019 at 10:45pm
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Ok, so you agree that they are not being transparent but they should not be punished for fraud unless someone feels defrauded.  Fair enough.  Do you think fraud can be an aggression?
  
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