> The US had no monetary policy for the first 100 years of its existence, going from subsistence farming to superpower It was also rocked by regular financial

> The US had no monetary policy for the first 100 years of its existence, going from subsistence farming to superpower It was also rocked by regular financial panics during this period, including massive economic shocks when large gold and silver deposits were discovered that suddenly flooded the economy with new "money".