2 Hour Warning: The Panic of 1907
Posted May 17, 2023
Chris Campbell
Picture it: the harvest season in full swing, money draining out of cities like bathtub water, as everyone scrambled to buy crops.
Banks, starved of capital, cranked up interest rates, hoping to lure foreign investors like kids to an ice cream van.
It was all hunky dory until the Bank of England raised their own rates, making the US look less like a lucrative investment opportunity and more like a deadbeat cousin asking for a loan.
Throw in the San Francisco earthquake of 1906, which vacuumed up money like a shopaholic at a clearance sale, and a government cap on railroad rates that did more to strangle the industry than to help it, and you've got yourself an economic cocktail that's more toxic than a martini made of chloroform.
What happened next was a conga line of financial disasters. Bank runs, stocks plummet, investors balking at bonds—each a disaster in its own right, collectively forming an economic catastrophe akin to stepping on a Lego in the dark.
WTF Happened in 1864?
The Civil War, a titanic clash that not only rearranged the social and political landscape of America, but also left a remarkable imprint on its economic terrain.
Firstly, it gave birth to the National Banking Acts of '63 and '64, the legal twins of American banking.
A national banking system? Check. A uniform national currency? Double check. Consider this the warm-up act for the Federal Reserve. Then came the greenbacks, a flashy departure from the stalwart gold and silver coins, teasing us with the concept of fiat currency long before the Federal Reserve Notes made it to the main stage.
The Civil War also acted like a gym membership for federal power, beefing it up to include a more hands-on approach to economic affairs.
And let's not forget the financial rollercoaster the war sent us on; nothing like a ride on the Inflation Express in the South and the Uncertainty Carousel in the North to highlight the need for a trusty economic ringleader, a role the Federal Reserve was born to play.
So there you have it.
As we saw yesterday and today…
Without 1864… there was no 1913.
Without 1913… there was no 1971.
And without 1971… there was no 2008.
And without any of them, we would not be bracing ourselves for something perhaps worse.
How much worse, you ask?
Well, that’s a question for Jim Rickards and Danielle DiMartino Booth.
TODAY, they’re going LIVE with everything you need to know to prepare.
Inside the conference, you’ll discover…
- The ‘CBDC Bombshell’ that could erase American freedoms as soon as July 1st, 2023. The time to prepare is now.
- Urgent insight on why gold could run to $3,000 and beyond in the coming months. Plus we’ll show you the #1 way to play gold and silver in 2023.
- The surprising ENDGAME for the US Dollar and why the USD will cease to exist as we know it.
It all goes down at 1 p.m. ET.