32 min
Debt, Default & Depression -- The End of the Second Bank of the United States Boom & Bust
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- History
The US's second attempt at setting up a central bank ended with Pres. Andrew Jackson's veto of the renewal of its charter. In this episode we look at the events leading up to Jackson's decision and at the fallout from it, including a depression on the scale of the Great Depression of the 1930s, several states defaulting and changes to their constitutions. Along the way there's fake news, a trade war, a bank war, high finance and low tricks. We end by bringing Moby Dick into the mix. Enjoy it.
The US's second attempt at setting up a central bank ended with Pres. Andrew Jackson's veto of the renewal of its charter. In this episode we look at the events leading up to Jackson's decision and at the fallout from it, including a depression on the scale of the Great Depression of the 1930s, several states defaulting and changes to their constitutions. Along the way there's fake news, a trade war, a bank war, high finance and low tricks. We end by bringing Moby Dick into the mix. Enjoy it.
32 min