The Forgotten Link Between the Federal Reserve and World War I Let’s start with a historical fact that your kids won’t read in any school textbook: Without the creation of the Federal Reserve in 1913, it’s very unlikely the U.S. could have fought World War I on the scale it did. In fact, it’s unlikely any modern industrial war could’ve happened without central banking. The article rightly points out that just months before war broke out in Europe, the Fed was signed into law — during the Christmas recess, no less, while Americans were distracted with holiday plans. That alone should raise some eyebrows. Back then, the public hated the idea of a central bank. The ghost of Andrew Jackson…

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