
History teaches us that economic depression and/or hyperinflations are NOT caused by banks or the money supply. Such events, whether they occured in ancient Rome, or the modern United States of America, are caused by a perception, by the People, that their leaders are lying, cheating, stealing, and cannot be trusted. The Great Depression of the 1930s, is a modern case in point. Contrary to the claims of Benjamin Bernanke, and most mainstram economists, it was NOT caused by a “credit contraction” or a “contraction in the money supply”. These were merely symptoms. It was caused by broken promises and lies.