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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (115016)8/12/2008 11:53:12 AM
From: Knighty Tin  Read Replies (2) of 132070
 
I agree with most of his comments, but not with all of his history. The Bank of The United States and The 2d Bank of The United States both acted in the role of a central bank during the 19th century. When Andrew Jackson destroyed the 2d Bank, the nation suffered zero economic growth for the next 3 years. There were several depressions and panics during the 19th Century.

I agree that the Fed was the wrong answer, but it was created in response to problems in the financial system. Rockwell makes it sound like everything was wonderful financially until the Fed was created. Not so.
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