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

Reply to comment by EndofGods 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

> 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.