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Created with Fabric.js 1.4.5 Ascent of Money: Planet Finance 1929Depression hit and US economy nosedived. March, 1932Thousands of unemployed in Detroit assembled together to march into the Ford Motor Company and demand more support. 1938A new Federal National Mortgage Association (Fannie Mae) was set up to create a nationwide market for home loans as part of the New Deal. Changes to the mortgage industry led to a huge explosion in property ownership. 1946Argentina decline in their economic fortunes when newly elected president general Juan Domingo came the central bank in Buenos AriesArgentina runs out of money. 1967Property in Detroit went up in flames resulting in riots against property, nearly 3000 building looted or burned. 1970ssavings and loans associations, were the foundations of Americas property owning democracyVast sums of money were being accumulated by the oil exporters of the Middle East 1980sDanny Falkner flips property by buying parcel of land for peanuts and selling it for inflated rates to naïve investors who got money lent to them by Empire Savings and Loans. Spring, 1989The Argentina government spent more that it could raise in taxation due to their war with Britain. To deal with this the government printed more money. Eventually the government ran out of paper to print more money. 1933America used The New Dealto deal with the Great Depression. 1991Danny Faulkner and Spencer Blain, the chairman of Empire Savings and Loans, are jailed for fraud and looting money through fraudulent land deals. 1982After Reagan deregulated the industry, US Savings and Loans institution raised savings rates so they could attract more money from depositors and then use the deposits for other loans. June, 1989Inflation reached a monthly rate of 100%, annual rate of 12000% this caused rioting, and looting by hungry mobs. 14 were killed. 2006The worlds total economic output was 47 trillion.Total value of stock and bond markets was roughly 119 trillion and derivatives was 473 trillion. 2008US needed to borrow around 800 billion from the rest of the world.Sub-prime mortgage crisis. 1984Property development in Texaswas out of control paid for bygovernment guaranteed deposits that were going straight into the pockets of developers. 1944Allies created the International Monetary Fund and theInternational Bank for Reconstruction and Development aka World Bank to oversee that capital movement would be subject to tight regulation. 1982Mexico declared it would no longer be able to service its debt, and this problem soon spread to the rest of the world causing a debt crisis. RyesaZibon
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