The Knickerbocker Crisis and the Federal Reserve

The Federal Reserve is a private agency that controls the federal government's money. The Fed has one tool and can get into weird places like negative interest rates which happened for a while. So anyway this is classical stuff and we're done we're out. It's over. You can patronize us at patreon.com slash classicalstuff to get tasty things like our in between episodes which are about to record and an AMA which we are also about to record.