EXPLAINING THE GREAT DEPRESSION By Wayne Jett

Foremost among the causes of the Great Depression was President Franklin Roosevelt’s purchase of 13,185 metric tons of gold for U. S. Treasury vaults during his first two terms, 1933-1940. This prodigious tonnage was 130% of all gold owned by other governments in 1930, and was 210% of holdings of all other governments in 1940.
Roosevelt sequestered or “sterilized” the acquired gold by placing it outside the gold standard monetary system. By these actions, the U. S. president shrank the money supply dramatically worldwide, especially in the U. S. The artificially created shortage of gold and resulting deflation impoverished populations and forced many nations off the gold standard. ....CLICK THIS LINK FOR THE REST OF THE STORY AT http://www.classicalcapital.com/Explain_Great_Depression.html