Why did the U.S banking system need to be reformed in the early 1900s?(a) The nation had no central authority to supervise banks. (b) Interest rates for loans rarely fluctuated. (c) Banks had full access to their reserves when customers wanted to withdraw money. (d) Too many people controlled the reserve funds of the nation's banks. | |
The banks didn't need to be reformed. Some bankers wanted to gain control over the money creation process. Kind of like a strangler: he doesn't want your air, he only wants to control your breathing.
Please remember that everything you ever hear on news or in schools is from the big banker's point of view. You can get a lot of historical insight from this fellow: http://gold-eagle.com/research/katzn...
A
