Pierre Jovanovic talks to James Turk about John Law, the Mississippi Bubble and how John Law duped the French people and the French Regent into buying his shares and allowing his Bank to issue bank notes. They explain how the whole experiment blew up in just 5 year and the terrible consequences for the whole of France. They then talk about the repetition of the fiat money experiment during the French Revolution and how that lasted only 7 years: from 1789 to 1796, with even more dire consequences for the French people. They also talk about current day similarities and lessons to be learnt.
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