From Gresham's Law:

Here we present a history of the Fed in charts.

As you'll surely glean from the below, the Fed has degenerated from a by-and-large passive institution (dealing only in high-quality self-liquidating commercial paper and gold) to an active pursuant of junk, an enabler of wars, a benevolent' combatant of the depressions of its own creation, a central planner of employment and prices, and of course, a...

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