Contents

Introduction: Money and Politics

The Genesis of Money

What is the Optimum Quantity of Money?

Monetary Inflation and Counterfeiting

Legalized Counterfeiting

Loan Banking

Deposit Banking

Problems for the Fractional-Reserve Banker: The Criminal Law

Problems for the Fractional-Reserve Banker: Insolvency

Booms and Busts

Types of Warehouse Receipts

Enter the Central Bank

Easing the Limits on Bank Credit Expansion

The Central Bank Buys Assets

Origins of the Federal Reserve: The Advent of the National Banking System

Origins of the Federal Reserve: Wall Street Discontent

Putting Cartelization Across: The Progressive Line

Putting a Central Bank Across: Manipulating a Movement, 1897-1902

The Central Bank Movement Revives, 1906-1910

Culmination at Jekyll Island

The Fed at Last: Morgan-Controlled Inflation

The New Deal and the Displacement of the Morgans

Deposit “Insurance”

How the Fed Rules and Inflates

What Can Be Done?

Index

Notes