from Zero Hedge
After surviving the start of the Second Great Depression, and living in its first great bear market bounce/short squeeze, where now all the attention is focused on a collapsing Europe, many could be wondering how, if at all, it would have been different to have lived through the first Great Depression. Luckily, courtesy of the recent release of the BIS's full annual reports, history buffs can now replay, year by year, the events in world capital markets from 1931 onward. We have put particular emphasis on the dark days of the 1930s. Below we present the first several such years as seen from the perspective of the BIS. Note the endless similarities - in fact one could say the only difference between then and now is the lack of "liquidity providing" algos (soon, there will be an iPad app for that) to front run slow and stupid retail/pension/mutual fund money. Pay particular attention to the role of gold in the crisis period, the amusing reference to FDR's confiscation of gold in 1933, and how the mood of insecured optimism shifts to one of endless gloom, and ends, as everyone knows, with World War 2.
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The internationalist minded,
The internationalist minded, radical Bolsheviks seized power in Russia in November 1917 and subsequently supported attempts to set up similar regimes elsewhere, 642-262with brief success in Hungary and Bavaria. This caused many central and western Europeans (and Americans) to fear that a violent Communist revolution would 352-001overwhelm their own countries. Beginning in 1919 the victorious Entente Powers established a cordone sanitaire of border states on Russia’s western frontier in the hope of quarantining Communism in Russia.In Germany and Italy the rise of fascism was
1Y0-A09 one of the causes of their participation in World War II. Both Italian and German fascism were in part a reaction to communist and socialist uprisings. They were supported by rightists and capitalists in part as movements that both tried to
642-515 appeal to the working class and to divert them from Marxism. A further factor in Germany was the success of rightists Freikorps (voluntary paramilitary groups of discharged soldiers) in crushing the Bolshevik Bavarian Soviet Republic in Munich in 1919. Many of these veterans became early components of the Nazi party’s SA which would be the party’s troops in the street warfare with the Communist armed militia in the decade before 1933. The street violence would help shift moderate conservative opinion towards the need for Germany to find an anti-Communist authoritarian leader to restore stability to German life