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Posted

The Fed was created in 1911 or so. Milton Friedman famously said that it was an utter disaster for its first crisis. (Bernanke wrote his thesis about this. I reckon Greenspand could have avoided the 2008 crisis - money is about trust.

Similarly, the US State Department (its foreign affairs ministry) has been an utter disaster since 1991.  Like the Fed in 1929, the US federal foreign affairs agencies have seriously screwed things up.

The US State Department faced its first true test with the collapse of the Soviet Union. What a mess.

Posted
5 hours ago, Rebound said:

You’re stating your opinions as facts, without backing them up.  

On top of ^this, no reason nor details are given to explain "utter disaster."

Most people believe that the dissolution of the USSR was GOOD for the West.

Obviously, it left some unresolved issues, but that does not mean the State Dept screwed anything up.

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