FDIC (Federal Deposit Insurance Corporation) (7 ore 48 min, 1 gen 1933 anni – 11 ore 44 min, 20 marzo 1933 anni)

Descrizione:

~insures customer deposits if a bank fails
~by 2008 each depositor's basic accounts in bank were insured up to 250,000$
~federal legislation severely restricted peoples' ability to redeem dollars for gold
~currency then became fiat money backed only by the government's decree
~this happened so that the Federal Reserve could maintain a money supply

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