Historical Echoes: What Do the New York Fed and Grand Central Terminal Have in Common?
These two fine old entities—the New York Fed and Grand Central Terminal—have at least three things in common: they are both about 100 years old, they both feature beautiful vaulting in some part of their structure by the same “designer” masons, and they both go very deep into the ground.
Historical Echoes: Fedspeak as a Second Language
First there was Newspeak (from George Orwell’s book 1984, which intended to bend the thinking of the masses), then there was doublespeak (derived from Newspeak, meaning a deliberate disguising or distortion of meaning, and with its very own achievement award), and then there was Fedspeak (and likely many other “-speaks”).
Historical Echoes: The Invention of the ATM–A Case of Multiple Independent Discovery?
Amazingly, something resembling a drive-through automated bank teller existed back in 1941 (twenty-six years before the invention of the true ATM, or automated teller machine).
Historical Echoes: Central Bank and Paper Money Innovator Given Death Sentence for His Efforts
In 1668, Johan Palmstruch, the head of Stockholms Banco, the precursor to the oldest central bank still operating today—the Swedish Riksbank—was charged and sentenced to death, according to Wikipedia and the Riksbank.
Historical Echoes: I’ll Take “Happy Birthday, Fed!” for $400, Alex
The Federal Reserve System is getting ready to celebrate its 100th birthday.
Historical Echoes: The Founding and Foundation of the New York Fed
On November 17, 1914, the New York Times reported on Treasury Secretary W. G. McAdoo’s involvement in the authorization of the Federal Reserve System’s operations, including a notice to member Banks, telegrams, and new Reserve notes.
Historical Echoes: Retirement Timing Discussions with Nary a Mention of Finances
One would be hard-pressed to find a discussion about the timing of retirement these days that doesn’t mention finances.
Historical Echoes: Cash or Credit? Payments and Finance in Ancient Rome
Imagine yourself a Roman citizen in the 1st Century B.C. You’ve gone shopping with your partner, who’s trying to convince you to buy a particular item.
Historical Echoes: Bankers Behaving Calculatingly – with Slide Rules
How do bankers do calculations? Currently, on the computer (or calculator).
Historical Echoes: Neither a Lender nor a Borrower Be, or When the Bard Met the Fed
These lines come from a 1929 play, Shakespeare in Wall Street, a mash-up of famous Shakespearean characters from various plays set to the story of the stock market crisis just then in motion.