2min chapter

Coin Stories with Natalie Brunell cover image

Danielle DiMartino Booth: New Fed Rate Regime? What If Nothing Systemic Breaks to Force Fed Pivot

Coin Stories with Natalie Brunell

CHAPTER

Is That Why You Believe That?

In the early 1920s, there were bad banks that did have to go to the discount window. Jim Grant has done beautiful work in this arena. He has studied closely the depression of 1920-21. GDP declined to that great of an extent. The bad credits were expunged from the system and on we went to the roaring 20s.

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