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Scrivener-of-Doom t1_iw6ryj1 wrote

Reply to comment by ShalmaneserIII 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

Yeah, banking can be reasonably stable if the fundamental principles are followed.

Of course, Americans refuse to do this so, every 10-20 years, American banksters collapse the global economy.

We're on track for the next one in 5, 4, 3, 2, 1....

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