May 2012
Beginner
1040 pages
27h 16m
English
November 23, 1954: U.S. stock market recovers from the Great Crash
Strict post-Depression regulation of U.S. finance is in place: Commercial banks are covered by deposit insurance and barred from investment banking. Fixed exchange rates are linked to gold under Bretton Woods. Banks dominate finance. Investment is dominated by individuals investing their own money. The young world is in the post-war Baby Boom, while the capitalist world is divided from the Third World and the Communist Bloc. Mainstream investors have no access to investing in commodities, foreign exchange, credit default risk, or emerging markets. All these factors change in the next half century, creating the conditions for unrelated ...