September 29

Ep. 0033: A History of the US Dollar Part 3: From Reconstruction Through the New Deal

Here it is, another installment in our non-consecutive mini-series on the tumultuous history of the United States Dollar.

Join Prof CJ as he discusses:

  • How hard money was eventually restored after the Civil War
  • The Mint Act of 1873 (called the “Crime of ’73” by its opponents)
  • The Populists’ (unsuccessful) challenge against the Gold Standard
  • The establishment of the Federal Reserve in 1913 and its effect on US money
  • Inflation/devaluation during the First World War
  • The actions of Benjamin Strong (Head of the NY Fed) in the 1920s to help the British pound, moves which also caused the stock & real estate bubbles of the 1920s, which burst in 1929
  • The end of the gold standard, gold confiscation, and the devaluation of the US Dollar under FDR in the 1930s, and how this was actually one of the factors that led to the Second World War

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Posted September 29, 2014 by profcj in category "American History", "Economic History", "Podcasts

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