Eric H. Allen Phd

1931: the Year of the Great Worldwide Financial Crash Eric H. Allen Phd

The Great Depression was undoubtedly the most traumatic economic event to date in American history. The stock market crash etched the year 1929 into the public's mind as the beginning of the historic depression, yet few people today are aware of the much larger financial convulsions that shook the world two years later. It wasn't until after these events - repudiation of monetary commitments by governments around the world, a crash in currency values, the worst month in U. S. stock market history to date, a collapse of bond markets, and a run on U. S. gold reserves - that the Depression truly became "Great." Have Ben Bernanke and the federal government "saved us from another Great Depression," or are they repeating the mistakes of the past? Read the history of the 1931 financial crisis in this book and decide for yourself.