History: Black Friday 1869 - Part 1
Financial Context
In September of 1869 some of the country's wealthiest people fought over gold. The bulls were led by Jay Gould and Jim Fisk while the bears were organized by Jay Cooke and James Brown. The sitting US president Ulysses Grant was also involved. The story takes place during the Gilded Aged and is a prime example of the corruption and wealth that was on display during the post-Civil War period.
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History: South Sea Bubble
Financial Context
In 1720 the British public were one of the first peoples to experience mass market manipulation. In this month's episode Nate & Dan discuss the story of the South Sea company which was granted a monopoly to trade in the new world by the British government. What ensued was a classic financial bubble.
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History: 20th Centry Railroads
Financial Context
In this episode Nate and Dan are joined by Dave Blazejewski to discuss the bankruptcy of Penn Station (the largest ever at the time) and why passenger rail transport all but disappeared from corporate America during the second half of the 20th century.
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History: Northern Pacific Railway
Financial Context
Nate & Dan continue discuss the history of railroads in America. In the month's episode, they talk about the story of the second transcontinental railroad which essential bankrupted one of the country's richest men, Jay Cooke.
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History: Transcontinental Railroad
Financial Context
In this month's episode, Nate and Dan recall one of the most corrupt events in American history. At the time it was started, no one believed that the Transcontinental Railroad would be profitable. The federal government had to put up the cash for the project initially. And when the government sponsors such a huge project, the cash starts flowing - and many times in unintended directions.
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History: The Erie War
Financial Context
In 1868 two of the country's most powerful and wealthiest men battled it out for control of the Erie Railway. Cornelius Vanderbilt and Daniel Drew were the epitome of "frenemies". They were also not shy about bribing lawmakers and the politicians were happy to take their cash.
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History: The Gold Standard Part 2
Financial Context
In part two of this conversation Nate and Dan talk about how the gold standard in the US began to wane beginning with Great Depression and ending when President Nixon official cut the link.
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History: The Gold Standard Part 1
Financial Context
Today's monetary systems is nothing like the past. In this month FC podcast, Nate and Dan examine the very long transition from a gold standard to a fiat currency in US. In part one, the guys talk about how the gold standard functioned in the time period before the Great Depression.
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History: Iranian Revolution Part 2
Financial Context
After the clergy took control of Iran in 1979, chaos ensued throughout global oil markets. In this month's podcast Nate and Dan pick up where they left off and discuss how and why oil prices more than doubled in the early 1980s and the mechanism for the demand destruction the eventually brought prices back in balance.
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History: Iranian Revolution Part 1
Financial Context
In this month's podcast Nate and Dan discuss the revolution that had the biggest and fastest impact on the global economy. In 1979 decades of US "grooming" in Iran were undone when the clergy overthrew the Shah and took control of the country and oil fields. In part one of this episode, we discuss the history of Iran during the 1950's, 60's and early 70's, the prelude to revolution.
info_outlineIn September of 1869 some of the country's wealthiest people fought over gold. The bulls were led by Jay Gould and Jim Fisk while the bears were organized by Jay Cooke and James Brown. The sitting US president Ulysses Grant was also involved. The story takes place during the Gilded Aged and is a prime example of the corruption and wealth that was on display during the post-Civil War period.