Network States

/kieran

growth @teller coming soon @clarity





























































hosting /kieran /usdc /loans 

The 1910 Jekyll Island meeting revolutionized banking by creating the Federal Reserve system. Key changes:

- Private banks could expand credit through fractional reserve banking
- Fed became the lender of last resort
- Shift from gold/silver to credit-based money
- Banks gained money creation powers through lending

The system's true impact emerged after abandoning the gold standard in 1971:

- Fed gained unlimited money supply control
- More extreme boom-bust cycles
- Asset inflation benefiting financial insiders
- Privatized profits, socialized losses

This framework still dominates modern finance, shaping wealth inequality and monetary policy.

"Chancellor on the Brink of Second Bailout for Banks..."

wow, another bailout? seems like we're stuck on repeat. hope they get it right this time 🤞