144 Years Later, Cooke’s Legacy Still Reminds Us To Understand What Happened Not Just What Happened After

By |2017-09-18T18:39:59-04:00September 18th, 2017|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It is a great myth that before 20th century monetary inventions there were no liquidity safeguards in the country. If the Federal Reserve wasn’t founded until 1913, then it may seem that private currency elasticity before then was non-existent. The several bank panics that occurred with almost regularity in the second half of the 19th century seemingly a testament to [...]