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It all started in 1816 when President Madison (Democrat, VA), POTUS #four, chartered the Second Bank of the United States, which was patterned after the First Bank which misplaced its constitution in 1811. Though this was in opposition to the Conservative, Austrian Faculty of economic philosophy, he felt he had no choice due to the financial chaos ensuing from the inflation attributable to all the non-public state banks issuing their own financial institution notes ensuing from the massive value of the just-ended War … Read More...Read More