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The Fed’s Latest Bumbling Invites King Midas to the Rescue

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The Fed’s Latest Bumbling Invites King Midas to the Rescue
Gold bars in a stock photo. KsanderDN/Shutterstock
Gary Alexander
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Commentary

The Federal Reserve Board was born 110 years ago this month. On Dec. 23, 1913, Congress passed the Federal Reserve Act—creating a new national bank to match those already existing in Europe—and President Woodrow Wilson quickly signed the act into law at 6:02 p.m., with four gold pens.

Gary Alexander
Gary Alexander
Author
Gary Alexander has been a senior writer at Navellier since 2009. He edits Navellier’s weekly Marketmail and writes a weekly Growth Mail column. For the previous 20 years, he was senior executive editor at InvestorPlace Media, and editor for Wealth Magazine and Gold Newsletter and wrote various investment research reports for Jefferson Financial in New Orleans. He began his financial writing career with KCI Communications in 1980, where he served as consulting editor for Personal Finance while serving as general manager of KCI’s Alexandria House book division.
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