Hoover chose to stay on Gold
by AquinasDomer (2024-01-16 19:02:21)

In reply to: Should we rank the politicians that won?  posted by EricCartman


The federal reserve couldn't afford to cut interest rates unless it could get off the gold standard. We also needed to tolerate deficit spending, which Hoover was against.

Hoover was dealt a bad hand, but he needed to do more than he did. Maybe if he played his hand perfectly he still loses but he wasn't some helpless victim.


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