This October marks the centennial anniversary of the Bolshevik takeover of Russia and the establishment of Soviet-style Communism which tragically, for the Russian people, would last for some seventy interminable years. Not only did the Soviet regime liquidate and imprison millions, but its idiotic system of central planning impoverished the country, turning it into an economic basket case, the effects of which continue to this day.
Just as bad, the Bolsheviks murdered the last Czar, Nicholas II and his family, brutally ending nearly five hundred years of monarchial rule of Russia. Within a year of the demise of the Russian aristocracy, two other of Europe's venerable royal houses - Germany and Austria - met the same fate, all three casualties of their insane decision to participate in World War I. The end of the German Court and especially that of Austria came at the vengeful insistence of then President Woodrow Wilson, who brought the US into the conflict on the pledge to make the "world safe for democracy."
The triumph of the Bolsheviks and the downfall of the German and Austrian monarchies ushered in the Age of Democracy as other Western constitutional republics at the time and in each passing year began to resemble and adopt features of their supposed Communist foe. As the 20th century wore on, each Western nation state became more "democratic," increasing their welfare/warfare state apparatus, imposing more and more radical egalitarian social and economic measures, and adopting greater amounts of economic planning mostly through central banking.
Not only did economic activity become increasingly effected by monetary policy, but the central banks were instrumental in the eradication of the gold standard throughout the Western world.
Comment: You understand now why Vladimir Putin was in no mood for 'celebrating' the Bolshevik revolution.
Russian Communist Party upset that Kremlin isn't celebrating centenary of 1917 revolution
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