From one of the wingnuttiest emails I've gotten in a while, peddling gold.
"The Obama Administration's biggest economic problem is that they really believe FDR's wealth-redistributing policies pulled America out of the Great Depression. But the truth of history reveals just the opposite." says [Craig R.] Smith.
"The same is true of Fed Chairman Ben Bernanke, who also admires FDR's 'New Deal' as a model for solving the Great Recession of 2008-20??"
When FDR took over as president in 1933 the U.S. had 8% unemployment. By Executive Order he then closed the banks, recalled U.S. citizens' gold and increased the official gold price from $20/oz. to $35/oz., effectively stealing 75% of citizens' stored wealth.
By 1938, we faced a collapse of the U.S. industrial base and unemployment rose above 20%. So for all of the money spent on FDR's "New Deal" it just made the economy worse, prolonging the Great Depression by 8-10 years, despite the liberal revisionist mantra claiming FDR saved us.
In 1933, the unemployment rate was nearly 25%. In 1937, it was 14%.
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