The Weak Dollar Authored the Great Recession

Every crisis has in its official response an implicit official explanation of why the crisis began. As he took office at the trough of the Great Depression in 1933, President Franklin Roosevelt banned the private possession of gold. In doing so, he gave weight to his argument that gold â??hoardingâ? had played a major role in the collapse in consumer spending that had attended the economy during its seize-up over the previous four years. . .