Let There be Money – Part 3

According to Ludwig von Mises, the boom of the “Roaring Twenties” was the result of the US Federal Reserve Bank and its policy of easy credit. When it became obvious that the economic boom was built on sand, the economy crumbled.

Let There Be Money – Part 2

Originally, banknotes were nothing else than receipts for gold or silver that were stored safely in a bank vault. Carrying heavy coins was not very practical and quite unsafe, as street robbers could easily assault you.