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I often hear Wilson criticized for signing the Federal Reserve Act, but what exactly was the U.S. like prior to this? Did states just have their own individual currencies?
If he hadn't had passed that, what would the U.S. look like today?
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>>3384641
>Did states just have their own individual currencies?
Bingo.
>If he hadn't had passed that, what would the U.S. look like today?
Every state would need their own federal reserve which is just a stupid way of running things.
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>>3384652
>which is just a stupid way of running things.
So then what are some valid criticisims of the Federal Reserve? What were the negative consequences of Woodrow's actions?
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Don't listen to this guy>>3384652
>I often hear Wilson criticized for signing the Federal Reserve Act
only by lolbertarians and conspiratards hate it. Honestly Wilson's version of the fed was 100x better than what the republicans were attempting to do at the time.
>Did states just have their own individual currencies?
no, the us treasury was in charge of printing money and the US had various national currencies over that time (greenbacks, coins, etc)
>If he hadn't had passed that, what would the U.S. look like today?
No one really knows, I imagine the economy would be more unstable.
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>If he hadn't had passed that, what would the U.S. look like today?
I'd put hard money that Roosevelt would have had to do is as part of the New Deal.
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>>3384652
this guy is a real dummy
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