5. The Revolution of 1913

Tags: The Fed, Taxes and Spending, U.S. History

06/07/2006 Thomas J. DiLorenzo

In 1913, economics and liberty collided when the Federal Reserve Bank was created, the 16th Amendment created the income tax, and the 17th Amendment instituted direct election of Senators.

The proponents of the central bank hoped to nationalize as much as possible all interests to be subordinate to the central government. The Fed and the Income Tax made possible America’s entry into world wars

Lecture 5 of 10 from the Steven Berger Seminar: Thomas DiLorenzo on Liberty and American Civilization.

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