Founding of the U.S. central bank

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• Princes of the Yen whole source · open book

  Until the advent of central banks (in the United States as recent as 1913), private banks therefore printed and issued paper money when someone took out a loan.

  chapter: 4. The Alchemy of Banking

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• Richard Werner author of the source

Appears in 2 stories

• Paper money, central banks, and credit creation step 8
• Princes of the Yen: Japan built, bubbled, and broken step 7

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