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Showing posts with the label fractional reserve

Encircling Germany, March 1931

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  In March 1931, Republican judges  again declared that  beer  would remain a felony, even if tens of thousands had to be robbed, jailed and/or shot to attain this noble ideal. Prisoners now exceeded the entire populations of three States. What, then, of German hopes to keep codeine and cocaine unregulated so as to pay war reparations with export profits? The clipping below, from when one American penny was worth six-and-a-quarter- MILLION  paper marks, explains how  other drugs  boomed  as beer was  banned . “Obviously the creation of a world sentiment against dope is the tremendous task upon which our government has embarked.( link )” Smuggling submarines were photographed in the Hudson river 8 months later.( link ) The same Norwalk paper on p.4 tells of Connecticut patrons pelting narcotics agents with brickbats. By 07 February 1931 the League of Nations  Opium advisory Committee had wrapped up its 44 meetings. Only two of which were ...

CAUSES OF RECESSIONS

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  This is a chart of the unemployment rate, not stock prices The UN replaced the League as Global Prohibition Organizer in 1945, after the opium war historians obediently refer to as WW2. This made sense the same way transferring the banning of plant leaves from the Hague to The League--by way of the Treaty of Versailles--made sense. After all, that early effort had appeased China into calling off its boycott of U.S. goods. But it also resulted in two Balkan Wars and WW1 as the members of the Opium Advisory Committee gleefully wielded the Versailles Treaty and Geneva dope convention as a club with which to put competitors--such as Germany and cannabis--at a disadvantage.  Few perceived the connection between the forced financial oscillations of 1927, 1928, 1929 and waves of banking panics that swept the USA with the income tax was weaponized against the twin evils of the alcohol and drug traffic. But America's homegrown alcohol industry and the burgeoning drug trade which flo...

Volstead Act Totalitarianism part 2

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  Capital ships serving wine were liable to confiscation   Sec. 3. Any room, house, building, boat, vehicle, structure, or place of any kind where intoxicating liquor is sold, manufactured, kept for sale, or bartered in violation of the War Prohibition Act, and all intoxicating liquor and all property kept and used in maintaining such a place , is hereby declared to be a public and common nuisance, and any person who maintains or assists in maintaining such public and common nuisance shall be guilty of a misdemeanor, and upon conviction thereof shall be fined not less than $100 nor more than $1000, or be imprisoned for not less than 30 days or more than one year, or both. If a person has knowledge that his property is occupied or used in violation of the provisions of the War Prohibition Act and suffers the same to be so used, such property shall be subject to a lien for, and may be sold to pay, all fines and costs assessed against the occupant of such building or property f...