“The Brain Trust has devised a number of schemes for getting money away from the fellows who accumulated it during the Golden Age of Coolidge, and some of those schemes are working. Any man who hoarded gold has now been relieved of it, any man who piled up a bank deposit sees it reduced by 40% in value, and any man who laid in stocks or bonds or real estate is worth a great deal less than he was four years ago. But most of this wealth is not actually destroyed; it is simply scattered, and in a little while the business of collaring it will be in full blast again. I don’t know what the trick will be next time, but that a trick will be invented you may rest assured.”
More on FDR’s “Brain Trust” can be read here.
The group that advised FDR on all matters involving the African-American community was popularly known as “the Black Brain Trust”…
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