Financial Context

In this month's episode, Nate and Dan recall one of the most corrupt events in American history. At the time it was started, no one believed that the Transcontinental Railroad would be profitable. The federal government had to put up the cash for the project initially. And when the government sponsors such a huge project, the cash starts flowing - and many times in unintended directions.

In 1868 two of the country's most powerful and wealthiest men battled it out for control of the Erie Railway. Cornelius Vanderbilt and Daniel Drew were the epitome of "frenemies". They were also not shy about bribing lawmakers and the politicians were happy to take their cash.

In part two of this conversation Nate and Dan talk about how the gold standard in the US began to wane beginning with Great Depression and ending when President Nixon official cut the link.

Today's monetary systems is nothing like the past. In this month FC podcast, Nate and Dan examine the very long transition from a gold standard to a fiat currency in US. In part one, the guys talk about how the gold standard functioned in the time period before the Great Depression.

After the clergy took control of Iran in 1979, chaos ensued throughout global oil markets. In this month's podcast Nate and Dan pick up where they left off and discuss how and why oil prices more than doubled in the early 1980s and the mechanism for the demand destruction the eventually brought prices back in balance.

In this month's podcast Nate and Dan discuss the revolution that had the biggest and fastest impact on the global economy. In 1979 decades of US "grooming" in Iran were undone when the clergy overthrew the Shah and took control of the country and oil fields. In part one of this episode, we discuss the history of Iran during the 1950's, 60's and early 70's, the prelude to revolution.

Nate and Dan keep the revolution streak going this month by retelling one of the most importnat and impactful stories in modern history.

In this month's episode, Nate & Dan examine one of the most important events of the 20th century through the lense of economics.

He's considered one of the greatest investors of all time. In this month's episode Nate & Dan tell the ironic story of how Warren Buffett came to own Berkshire Hataway.

The Panic of 1907 was a financial crisis in the United States marked by a stock market crash and a run on banks. Triggered by the collapse of a major trust company, it led to widespread panic and financial instability. J.P. Morgan intervened to restore confidence, establishing the precedent for future government intervention in financial crises.