There were many panics and crashes before 1907.
And what happened? We got a crash anyway - the worst one in history.
You should look at the economy since the Great Depression.
So, clearly, prevention of panics WASN’T the REAL reason behind the creation of the Fed, just a distracting lie.
Clearly? Says who? The JBS?
So then you ask, “OK, who stood to benefit?”
Let me guess, the JBS?
(AND we’ve still got income tax, a supposedly “temporary” measure
Help me out, where did it say the income tax was supposed to be temporary?
“There were many panics and crashes before 1907.”
Yeah, exactly, and the proponents of the Federal Reserve said its creation would get rid of all those, that they happened only because there WASN’T a central bank around to stabilize the market.
“You should look at the economy since the Great Depression.”
Yeah, I’m looking - not one balanced budget, not one year debt-free. Just the way the bankers like it.
And if the Fed WAS capable of preventing financial panics - as was the original argument put forth in favor of its creation - we wouldn’t have had the 1930s, would we?
And Income Tax WAS originally introduced as a temporary measure, just to help pay for World War I.
You can at least do a little reading for yourself, I shouldn’t have to do all the work for you.