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29min chapter
TIP574: Broken Money 1/2 w/ Lyn Alden
We Study Billionaires - The Investor’s Podcast Network
The Centralization of Banking During the American Civil War
This chapter explores the centralization of the banking system during the American Civil War and the issuance of fiat currency by both the US federal government and the Confederate States of America. It discusses the importance of the strength of the US military in relation to the strength of the US dollar and the role of technology, specifically the telegraph system, in facilitating the centralization of banks.
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