Heroin-peddling Germany tried to stop the opium-producing Balkan States from undercutting Hungaro-Prussian markets after China banned addictive narcotic dumping in 1911. The attempt escalated into Balkan wars and backfired. Germany’s competitors in the dope market–England/India, France/Vietnam, and Switzerland–soon held the whip. Britain, Belgium and France demanded reparations payments for all war damage, while the US tried to collect on war loans made to belligerents.
The US, like Switzerland, had at first been neutral and for a time sold materiel and supplies to the Allies on credit, with no collateral. Herbert Hoover became America’s Food Czar in WWI to keep France and Belgium–and later Germany–from starving. But after communism conquered Russia, the Allies began losing and These States entered the War as an Associated (not Allied) power. One significant difference was that These States (unlike Australia) did not to to war with Turkey, and never ratified the Treaty of Versailles. The US instead made separate peace treaties containing many similar clauses, but as an Associated Power, NOT an ally.
When dry-hope Hoover became president, Germany was selling heroin in dry America to pay war reparations. A Moratorium on Payments, thought Hoover in 1931, would enable America and the League to persuade Germany to quit manufacturing Heroin™ (which export had been the whole point of WW1). This Moratorium on Brains cost American businesses all commercial debt (Germans simply refused to pay), plus the balance on war loans (Allied deadbeats in Europe followed suit, hence the Moratorium on Brains). Today’s “carbon tax” subsidies to totalitarian governments, inspired by pseudoscience alleging global warming, are all too similar to Bert Hoover’s noble Moratorium.
The Moratorium also enabled the Christian National Socialist party to gain power. Germany ramped up addictive exports and rearmed. Walter Darré became Hitler’s Food Czar shortly after These States abandoned altruist prohibitionism by adopting the Liberal Party repeal plank in the election of 1932. America repudiated the Republican dry fanaticism that helped finance National Socialism’s takeover of Europe, after it was too late. But instead of adopting the freedom advocated by the Liberal Party in 1931, non-prohibitionist Americans accepted its repeal plank, then reverted to the altruistic Soviet Communist ideals advanced by the Populist Party as a source of comfort and inspiration. Intellectuals of the looter persuasion went from giving lip service to the nobility and altruism of prohibition to pacing and guiding Democrats on the nobility and altruism of socialism.
The George Waffen Bush asset-forfeiture crash was the direct result of faith-based zealotry infiltrating the Federal government as of his first Executive Order. Its causes were the same as after the 1928 election, which also packed the government with Teetotalitarian zealots. Surely the pattern is clear: dry fanatics + the coercive power of the violence of law = market collapse, credit crunches, liquidity crisis, unemployment, recession deepening into depression–always, in every case, motivated by altruistic intentions. If this is not what you want, consider a contribution to your local libertarian party–available in every State in the Union.
Find out the juicy details behind the mother of all economic collapses. Prohibition and The Crash–Cause and Effect in 1929 is available in two languages on Amazon Kindle, each at the cost of a pint of craft beer.