MARCH 31, 1980 – US CONGRESS PASSES MONETARY CONTROL ACT

1980 – US CONGRESS PASSES MONETARY CONTROL ACT
Popularly known as the Depository Institutions Deregulation and Monetary Control Act of 1980. The Federal Reserve Board of Governors was provided with increased control over monetary policy and non-member financial institutions – requiring all financial institutions to follow Federal Reserve (a mostly private institution) regulations.

MARCH 31, 1913 – DEATH OF J. PIERPONT MORGAN, BANKER

1913 – DEATH OF J. PIERPONT MORGAN, BANKER
J.P Morgan founded one of the world's most powerful banks and had extraordinary political influence in the U.S. The National Citizens League, funded by millions of dollars from Morgan and a few other major bankers, financed respected university professors to endorse the concept of creating a private/corporate central bank, which became the Federal Reserve Bank, created by the 1913 Federal Reserve Act. Morgan’s men were among the small number of architects of the private/corporate Federal Reserve.