Part 8/13:
Official narratives claim that the Federal Reserve was created to protect Americans from financial crises like the Panic of 1907. However, historical analysis reveals that crises such as the panics of 1873, 1884, 1893, and 1907 were less the result of a weak system and more the consequence of reckless reserve management and currency drains by large banks. These failures prompted the creation of a system designed to maintain the existing concentration of banking power, further insulating the elite of Wall Street from economic collapse.