On today's episode of Forward Guidance, Jack Farley is joined by Roger Lowenstein to discuss his new books and the intricacies of the American financial institution during and before the Civil War. Taking a look back at history, Roger is able to make connections to our modern day and how we can empower ourselves by knowing our backstory.

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Timestamps

(00:00) Introduction

(02:27) American Finance Before the Civil War

(06:46) How Did the North Fund the Civil War?

(15:25) How the South Funded The Civil War?

(18:56) Disastrous Inflation In The South

(24:02) BCB Ad

(25:25) Illegal Cotton Smuggling And Parallels To Russian Gas

(34:20) Will Commodity Price Shock Cause A Recession?

(37:36) Inflation

(42:28) The Fed

(47:03) Final Reflection on President Lincoln