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Bank panics in USA prior to the creation of the Fed – what is the truth? Well, it was GOVERNMENT that caused these panics.
Monday, December 19, 2016 5:45
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I chanced upon this from The Ascent of Money: A Financial History of the World by Niall Ferguson Legislation was not passed to create the Federal Reserve System until 1913. Up until that point, the US was essentially engaged in a natural experiment with wholly free banking. The 1864 National Bank Act had significantly reduced the barriers […]
Source: http://www.sabhlokcity.com/2016/12/bank-panics-in-usa-prior-to-the-creation-of-the-fed-what-is-the-truth-well-it-was-government-that-caused-these-panics/
