The Year of the Cow - A Ryan Fair Podcast podcast

The Federal Reserve, Inflation & Financial Strategy

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The Federal Reserve was created in 1913 in response to repeated banking panics, most notably the Panic of 1907. Back then, there was no central bank. Money supply was limited by gold and thewhims of private banks. J.P. Morgan literally bailed out the U.S. government with his own gold reserves. This wasn’t sustainable.

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