EndofGods t1_iw6r8w2 wrote on November 13, 2022 at 11:30 AM

Reply to comment by monkeypox_69 in TIL JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later by mankls3

I agree, but the people had no choice. A private banking system was previously defeated, but they kept trying. It's money...forever. as the country exists anyway.

ShalmaneserIII t1_iw6rqnp wrote on November 13, 2022 at 11:37 AM

> A private banking system was previously defeated, but they kept trying.

And they keep trying. Bitcoin, for example. What could go wrong with private money? Dunno, how about the last few times it was tried.