HALP. Banking history please….

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  • #15947
    a_spencer
    Member

    Can anyone give me a somewhat quick rundown of the various banking systems (when they were implemented and their flaws) that we’ve had in America since the beginning up to our current Federal Reserve System?

    #15948
    woods
    Participant

    This is rather a tall order. You can get a sense of some of it via my resources on the pre-Fed panics: http://www.libertyclassroom.com/panics.

    Part 1 of this book runs through them all: http://mises.org/books/historyofmoney.pdf

    #15949
    a_spencer
    Member

    Awesome. Will be checking those out, thanks.

    #15950
    Vampiro27
    Member

    Might I also suggest going back even further. There is not much information on the Knights Templar, but from what is written, they engaged in what would be considered a full reserve manner. Their receipts were backed 100% by an individuals deposits and a system was in place to prevent forgery. The King wound up killing them and confiscating their earnings.

    Though not in the US research John Law, and the disastrous economic policies that he followed and implemented. Law also helped disprove the Keynesian economists before they were Keynesian. So did Alexander Hamilton, and the assistant sec treas Duer along with the central bank (and of course many other policy makers and bankers).

    As to the flaw’s of a banking system. One of fractional reserves, currency debauchery along with interest rate and market manipulation would be flawed and doomed to fail in it’s inception.

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