The Stunning Failure of John Law’s Bank: The Story of the French Shock
[ad_1]
Quincampoix Street in Paris in 1720, at the height of speculation raised by John Law Stefano Bianchetti/Bridgeman Images
great story – While the bankruptcy of Silicon Valley and the collapse of Credit Suisse raised fears of contagion risk, the law’s bankruptcy in 1720 sets a very useful precedent.
The bankruptcy of the Silicon Valley bank and the fall of Credit Suisse led to a wake-up call Fear of the stock market crashing again. Monetary authorities around the world look to the past and review records for illuminating precedents. Every nation has its traumas, like America, The crisis of 1929 and the Great Depression of the 30s. In France, it is a three-centuries-old issue that comes to mind during the days of anxiety and fear: the bankruptcy of the law in 1720, under the tutelage. Thrilling and hardly believable, breathtaking story as a novel.
The hero of our adventure, John Law, Scotsman, was born in April 1671 in Edinburgh. At that time, the country certainly had the same king as England, however It is still a sovereign state with institutions independent of the English crown. Lu’s father is a goldsmith. It is like an artisan, merchant, and banker. Young Joon sees his father making and selling jewelry and gold artifacts…
This article is for subscribers only. You have 97% left to discover.
.
[ad_2]
Source link
