Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10 5/3/83; site bmcg.UUCP Path: utzoo!linus!decvax!ittvax!dcdwest!sdcsvax!bmcg!bprice From: bprice@bmcg.UUCP Newsgroups: net.flame Subject: Re: FDR Message-ID: <1061@bmcg.UUCP> Date: Fri, 22-Jun-84 16:36:20 EDT Article-I.D.: bmcg.1061 Posted: Fri Jun 22 16:36:20 1984 Date-Received: Sat, 23-Jun-84 07:17:28 EDT References: <36200140@uiucdcs.UUCP>, <184@ccieng2.UUCP> Organization: Burroughs Corporation, San Diego Lines: 23 There was one minor error in the list of FDR's sins. I won't bother with the omissions, but those of us who insist on the bizarre practice of learning from history have learned that the list given is by no means complete. The error lies in attributing the Federal Reserve System to FDR. Actually, the Fed was created several decades earlier: I don't have my references at hand, so I can't give you dates, but it seems to have been 1910 +- 10 years. The intent of the Federal Reserve Act was to allow Congress to evade their constitutional responsibility to "Coin money and regulate the value thereof, and of foreign money." A convincing case is made (reference to be supplied later) that the manipulations of the currency by the Fed were the direct and only cause of "the Great Depression". At the very least, the existance of the Fed did give the congressional Demos an 'out', after their depression started, by muddying the waters enough that their responsibility was not held against them. In fact, despite the clear constitutional responsibility directed at the Congress, and only at the Congress, that depression is usually attributed to the Executive: only a Democrat could understand how that could be. By the way, FDR's evil cannot be properly called treason, because of the obscure legal definition, which you can look up in the US Constitution. -- --Bill Price uucp: {decvax!ucbvax philabs}!sdcsvax!bmcg!bprice arpa:? sdcsvax!bmcg!bprice@nosc