What happens when a central bank becomes insolvent.
The longer the country remained on the Gold Standard the longer it took for the economy to restore their pre-1929 levels of activity.
Rather than fighting the inflation ghosts of the 1970s, I am more worried about repeating the mistakes of the 1930s.
"...central banks have, through expanding their own balance sheets, in effect liquefied the private sector’s balance sheet and taken the unwanted assets off it."
The Visual History of the Federal Reserve System, 1914-2010 portrays the Fed's balance sheet from founding to the present, as well as interest rates, reserve requirements, recessions, chairmen, US presidents, major events, and more. This is the first time this data has ever been compiled and portrayed in a single graphical display.