The ideas embodied in the New Deal Legislation were a compilation of those which had come to maturity under Herbert Hoover’s aegis. We, all of us, owed much to Hoover.
—- Rexford G. Tugwell
The pre-New Deal (1930 – 1932) continues: Republican (fascist/socialist) President Hoover—without a constitutional amendment—signs house resolution 12280, creating the Federal Home Loan Bank Board of Governors and 12 regional Federal Home Loan Banks to be modeled after the unlawful, privately owned Federal Reserve System, to stimulate home ownership and to expand the nation’s money supply with the issuing of Federal Reserve Notes backed by mortgage securities.
[restored 7/2/2022]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Calvin D. Linton, ed., The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 328.
Murray N. Rothbard, America’s Great Depression, fifth edition, (1963; Auburn, Alabama: Ludwig von Mises Institute, 2000), 279.
Current U.s. National Debt:
