"On December 23, 1913, President Woodrow Wilson signed the Owen-Glass Act, creating the Federal Reserve System, an independent agency of the U.S. Government. Before the Federal Reserve began its operations in November 1914, America's banks functioned in widely divergent ways. These varied banking practices resulted in four major financial crises in less than forty years."
Today in History: December 23
Now if they would only do what they are supposed to do and not all this funny business like Q/E Q/E2 and print money we don't have.
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