> Deposit insurance became necessary because the government started forcing banks to replace the highly commercial bills in their balance sheet with illiquid government bonds (cf. The National Banking Acts of 1863 and 1864).
I'm sorry, but this is some flat-earth nonsense. It sounds like you have a particular ideological axe to grind and are trying to make the facts fit your narrative.
Deposit insurance in the US arose in the 20th century in response to consumer bank runs. The original deposit insurance schemes arose in the wake of the panic of 1907, and the FDIC was established in 1933.
I'm sorry, but this is some flat-earth nonsense. It sounds like you have a particular ideological axe to grind and are trying to make the facts fit your narrative.
Deposit insurance in the US arose in the 20th century in response to consumer bank runs. The original deposit insurance schemes arose in the wake of the panic of 1907, and the FDIC was established in 1933.
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