The Federal Reserve is so 1913 anyway | MetaFilter
The late-1800s bubble and crash were, IIRC, set off by fraudulent railroad stocks. In the case of the 1920s, that bubble was inflated by over-optimistic money injection by the still-new Federal Reserve. … Everyone likes to snicker at the Beck zealots, but they’re such a tiny force in the world economy, compared to the vast financial edifices we’ve built, that I think it’s extremely unlikely that they could affect the gold price that much. …
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