I discovered this timeline of the Global Financial Crisis (May 2007-February 2009) when I was originally researching information on fractional reserve banking. I must confess, I haven't fully studied it or understand everything it's trying to explain, but I find the colors and photos make me want to. I think the two pie charts at the bottom are actually the most telling. In May 2007 the vast majority of the U.S. Federal Reserve assets were composed of securities held outright, where as in February 2009 they only represented a minority of the assets. As I understand it, that means the U.S. Federal Reserve Assets are largely now virtual and not physical (speculative not secure)... more to follow.
Saturday, October 24, 2009
Global Crisis Timeline
I discovered this timeline of the Global Financial Crisis (May 2007-February 2009) when I was originally researching information on fractional reserve banking. I must confess, I haven't fully studied it or understand everything it's trying to explain, but I find the colors and photos make me want to. I think the two pie charts at the bottom are actually the most telling. In May 2007 the vast majority of the U.S. Federal Reserve assets were composed of securities held outright, where as in February 2009 they only represented a minority of the assets. As I understand it, that means the U.S. Federal Reserve Assets are largely now virtual and not physical (speculative not secure)... more to follow.
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Wow, I did not know you were so into these matters! Great to know!
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