“The Bank Was Saved, and the People Were Ruined.”
Favicon 
www.sgtreport.com

“The Bank Was Saved, and the People Were Ruined.”

by Jeff Thomas, International Man: The above quote is from William Gouge, commenting on the Panic of 1819. The panic had been caused when the First Bank of the United States had first expanded the money supply dramatically by offering loans, then contracted the money supply by tightening its requirements for new loans, causing a […]