Benjamin Roth Diary entries

Benjamin Roth Diary entries:




BUSINESS

In 1938: After 8 years of pump-priming and other trick methods of bringing back prosperity, it is my conclusion that none of them are any good. In our capitalistic system we must let the forces of competition as well as demand and supply work things out in a natural way. No man or group of men is smart enough to control prices or the supply & demand curve

Business is dead and even the big department stores are empty

We’re already seeing this now, except this time around, this is a Government led assault against businesses

Small businesses go bankrupt first and very quickly, usually within the first 3 years.  The big stores held out for a lot longer because they had more access to lines of credit

Big companies received government loans but there was nothing for small businesses this is why the small businesses collapsed so easily

The President insists that it’s the right thing to do. He says people cannot be paid so little for their work

The President's plan has ended in disaster. The higher wages resulted in reduced hours and eventually more layoffs

GOLD CONFISCATION
March 1933: Banks have been ordered to turn in all gold

March 1933, gold ownership is now illegal, the Government will pay $20.67 per ounce

100 million US Dollars in gold is returned in the first 2-days over fear of arrest

After my gold was confiscation in March of 1933 under Executive Order 6102, it was then revalued from $20.67 per ounce up to $30.00 per ounce, this was theft by any other name

To add to the injustice, the Government has just devalued the dollar, this has caused a rise in food prices and riots ensue

The Government threat of shame and punishment was a bluff, no one has been shamed or tried to my knowledge

No action was taken against gold hoarders - very unfair!

GOVERNMENT & MEDIA
1929: The magazines and newspapers are full of articles telling people to buy stocks, real estate and other assets at these runaway prices. Update Note 1931: Many of the people that took the advice of these newspapers are now bankrupt and lost over 80% of their money

The Government tries to pay off its debt by printing money. Prices sky rocket and violence breaks out because wages don’t keep pace

When the government printed money, prices went up 40 to 100%, but wages remained the same! The Government fooled us again. I now realise I must understand the mysterious world of the bankers to have any hope for the future...

A number of anti-free market policies came about fixing and increasing wages. The minimum wage of $7.50 per week for a department store clerk went up to $14 per week… layoffs were inevitable

1933: The Government plans are not working: money printing, putting money into the hands of people, buying bank bonds, making business loans with printed money - none of it has worked

MENTAL HEALTH & VIOLENCE
Suicide among prominent business men is on the increase
There are now constant riots, suicides, and mental health issues as a result of many people losing everything

Tempers are short and there is constant violence due to anger and hunger
1932: hold-ups and murders are now an everyday occurrence, home invasions are common and you cannot walk the streets after dark

POLITICS
History repeating: President Hoover blamed the financial crisis on greedy people buying stocks and thought nothing of people’s spending habits and production going overseas

November 1932: Democratic candidate, Franklin D Roosevelt wins presidency offering the New Deal to the people

Groups of hundreds of people are trucked into Ohio, Pennsylvania and West Virginia in order to disrupt the memorial day celebration - violent clashes ensue. No one knows who paid for these people to travel

Oct 1941: The great effect of President Roosevelt's plan is wearing off rapidly. Despite many of the feelings that it was just a ploy to get votes, we now know for a fact

Radical socialism is the order of the day in March 1934 with demands from the people to the Government for work as well as debt forgiveness!

With greater prosperity, radical talk diminishes. People want the government to have less control of their life since proving incompetent