Benjamin Strong and Open Market Operations

In 1913, the United States created its third national bank. 

Unlike the previous two, this bank was organized in a completely different manner. It was organized differently, in an effort to avoid the problems of the previous national banks. 

Also, unlike the previous national banks, the creation of the Federal Reserve was not done openly and subject to public debate. It was created using secrets and subterfuge.

Learn more about the creation of the Federal Reserve and the very odd way it was created on this episode of Everything Everywhere Daily.

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