Tag Archives: Monetary History Calendar

JANUARY 4 1643 – BIRTH OF SIR. ISAAC NEWTON, ENGLISH PHYSICIST AND MATHEMATICAN – FORMULATED UNIVERSAL LAW OF GRAVITATION Governments have transferred their authority to create money to private financial institutions (including central banks), which have used this power to … Continue reading →

Happy New Year! The new year brings some new listings that have been unearthed during the past year and retirement of some previous ones. The goal is to limit postings to 1-2 per day…with a few exceptions (one of which … Continue reading →

DECEMBER 28 1856 – BIRTH OF WOODROW WILSON, 28TH PRESIDENT OF THE UNTIED STATES “A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all … Continue reading →

DECEMBER 21 2015 – WINTER SOLSTICE This is the darkest night of the year. For the next 6 months, the days (light) become longer. This is a fine time to dedicate oneself to shedding greater light on monetary policy. A … Continue reading →

NOVEMBER 16 1914 – US FEDERAL RESERVE OPENS FOR BUSINESS “Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.” From I Bet … Continue reading →

OCTOBER 19 1987 – U.S. STOCK MARKET CRASH Known as Black Monday, stock markets around the world crashed. The Dow Jones average dropped by 508 points. It was the largest one-day percentage decline in Dow Jones history. 2004 – QUOTE … Continue reading →

SEPTEMBER 21 1950 –FEDERAL DEPOSIT INSURANCE LIMIT RAISED The popular FDIC (Federal Deposit Insurance Corporation) limit is raised by Congress to $10,000. The FDIC insures commercial bank deposits against loss due to bankruptcy or default. It was created following the … Continue reading →

SEPTEMBER 7 1867 – BIRTH OF JP MORGAN, JR, BANKER Morgan was instrumental is providing financing several nations during World War I, including loans and other financial support to France, England and Russia. Accusations were made that this financial commitment … Continue reading →

AUGUST 24 1916 – BIRTH OF ROBERT DE FREMERY, AUTHOR, RIGHTS VS PRIVILEGES “It is not obvious that there are serious defects in our banking system and our tax system that deprive most of us of fundamental rights and bestow … Continue reading →

JULY 20 1903 – DEATH OF POPE LEO XIII “On the one hand there is the party which holds the power because it holds the wealth, which has in its grasp all labor and all trade, which manipulates for its … Continue reading →