stackyFACTSBetween 1837 and 1862, the US financial system was basically the Wild West with a printing press.
Between 1837 and 1862, the US financial system was basically the Wild West with a printing press. State regulations were so flimsy that anyone could open a bank and issue their own colorful banknotes. Scammers opened "wildcat banks" in remote, predator-infested forests where auditors physically couldn't travel to check their gold reserves. By the time a citizen realized the flashy notes they were holding were utterly worthless, the founders had already vanished with the real gold.
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