Showing posts with label NOVEMBER 16. Show all posts
Showing posts with label NOVEMBER 16. Show all posts
Tuesday, March 26, 2013
NOVEMBER 16, 2006 – DEATH OF MILTON FRIEDMAN, US ECONOMIST
2006 – DEATH OF MILTON FRIEDMAN, US ECONOMIST
"The Federal Reserve definitely caused the Great Depression by contracting the amount of currency in circulation by one-third from 1929 to 1933."
NOVEMBER 16, 1914 – US FEDERAL RESERVE OPENS FOR BUSINESS
1914 – US FEDERAL RESERVE OPENS FOR BUSINESS
“Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower's IOU.” From I Bet You Thought, Federal Reserve Bank of New York
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