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| The original purpose was mostly to protect farmers from foreign goods. Hoover signed it - against his better judgement - because of pressure from his party, the Republicans. Opponents of the tariffs were Wall Street bankers, Henry Ford, etc.
IMHO, what the Bundesbank is doing is a symptom of the worry and distrust today, and this is a dangerous situation. John talks about a tipping point, and that is a very valid point. In a chaotic system, a transition from one state to another can happen very quickly.
We also need to hope all of their gold is there to send. | |
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Uh Oh... Bundesbank to start repatriating their Gold from NY Fed. Here you go Frytown, John Burns
