The accepted version of history is that the Federal Reserve was created to stabilize our economy. One of the most widely-used textbooks on this subject says: "It sprang from the panic of 1907, with its alarming epidemic of bank failures: the country was fed up once and for all with the anarchy of unstable private banking." Even the most naive student must sense a grave contradiction between this cherished view and the System's actual performance. Since its inception, it has presided over the crashes of 1921 and 1929; the Great Depression of '29 to '39; recessions in '53, '57, '69, '75, and '81; a stock market "Black Monday" in '87; and a 1000% inflation which has destroyed 90% of the dollar's purchasing power.
06 Sep 2014 01:59 Read comment
Dexter PennCEO at Kalgera
John DoxarasCEO at Warply
James NevilleCEO at Yaspa
Raman KorneuCEO at Travel Union
Hannah FitzsimonsCEO at Cashflows
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