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Source link: http://archive.mises.org/11030/debt-and-repudiation-in-mississippi/

Debt and Repudiation in Mississippi

November 13, 2009 by

While the nation fell into a long and severe depression after the Panic of 1837, conditions in Mississippi were among the worst. With the collapse of the state’s banking system, came a collapse of property values. FULL ARTICLE by Clifford F. Thies

{ 2 comments }

Saul Frugman November 13, 2009 at 7:40 am

That’s what happens when you kill central banks. Central banking is good because it prevents depressions such as this. Central banks can print more money to prevent a collapse in property values. We should print lots and lots of money to reflate the housing bubble.

Joshua November 13, 2009 at 10:06 am

LOL! Good one, Saul!

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