The Panic Of 1907: The Kings of Chaos, Part 1 | Wall Street History | SCTV History

The Panic of 1907 was one of the most destructive economic calamities in American history. While many in the country were still riding the wave of a previously surging economy in the tail end of the Second Industrial Revolution, a series of global and domestic events would bring about a sharp economic pullback.
A liquidity crisis in the banking system, brazen speculators, diminishing trust in the loosely regulated banking system, massive corporate consolidations, an apocalyptic natural disaster, and no central banking system. All that was needed was a little push.
The Panic of 1907 was triggered by the actions of Charles W. Morse (known as the “Ice King”), F. A. Heinze (known as the Copper King) and his brothers. Their attempted corner of United Copper stocks pushed an already delicately fragile market into chaos.
As is often the case, history would repeat itself 100 years later. This documentary recounts the story of the Panic of 1907 and draws parallels to the events that led to the 2008 Global Financial Crisis.
00:00 - Introduction
02:29 - Prologue
05:28 - Chapter One - The Pullback
10:39 - Chapter Two - The Copper King
PART 2 LINK: • The Panic Of 1907: The...
PART 3 Link: • The Panic Of 1907: The...
Written and directed by: Abara Isaac Sonder
#wallstreethistory #bankruns #gildedage
‪@CNBCtelevision‬ ‪@HISTORY‬
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[@bustavonnutz]

From a pandemic to controversial wars, the 21st century is almost like a bizarro mirror of the 20th century in so many ways. The phenomena & events are rather similar, but the people dealing with them were from a different time. This is why those that refuse to learn from history are doomed to repeat it; as long as the federal reserve exists & have a debt-based economy, then we will never experience true financial stability. The post-war boom is proving to be a flash in the pan, by the 30s we'll be in the same place we were in the 30s of the last century.

[@jordhuga271]

Thanks. Love having this on in the background while I trade.