The Introduction in to the United States Banking System
The Federal Reserve Banking System was created in 1913 after three failed tries to have a national bank from which the Federal government would have control and management of currency. After the United States Constitution was ratified, it was clear to the Founders and Signers that the ‘free market’ was to remain free. Sure, there were uncertainties in the financial system due to America taking a stand on its own terms. Private Banks were in existence for national and international banking services. Due to import and export relationships and treaties, currency and trade suffered from major instability.
37 Years and Still No Advance
A fire erupts and later an explosion occurs on the DeepWater Horizon oil rig in the Gulf of Mexico. The fire continues down the pipe to the sea floor and soon we witness the complete loss and sinking of a floating oil rig platform. President Obama and Janet Napolitano some days later call for a SWAT team to be dispatched to the rig as this event is a cause for national security.