In Hungary in the 1940’s, while…

In Hungary in the 1940’s, while the country was experiencing the worst hyperinflation in recorded history, they issued a bank note with a denomination of 100 quintillion Hungarian pengős, which was worth approximately US $0.20.

JP Morgan bailed out banks in 1907 but…

JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later.

In 1905, American millionaire ….

In 1905, American millionaire George Kessler threw himself a birthday party at the Savoy Hotel in London that involved flooding the entire courtyard with four feet of water so his guests could dine in gondolas and a five foot birthday cake brought out to them on the back of a baby elephant.