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This quiz consists of 5 multiple choice and 5 short answer questions through Section II. A Crash Course on Money, Chapters 7-8 The Barbaric Metal; Fool's Gold.

Multiple Choice Questions

1. What type of person was Paul Moritz Warburg?
(a) Paul Moritz Warburg was a rude and greedy man.
(b) Paul Moritz Warburg was a mild-mannered, shy and sensitive man.
(c) Paul Moritz Warburg was an elitist who was not concerned with the concerns of the poor.
(d) Paul Moritz Warburg was a stubborn man concerned only with the wealth of the upper class.

2. What did the U.S. government do to support banks?
(a) The U.S. government guaranteed depositor money through Congress.
(b) The U.S. government guaranteed depositor money through private insurance companies.
(c) The U.S. government guaranteed depositor money through the FDIC.
(d) The U.S. government forgave the debot of failing banks.

3. How were the policies of FDR's administration a departure from capitalism?
(a) They abandoned the free market principles that were supposed to have worked with a purely capitalistic system.
(b) They abandoned standards of the Federal Reserve that were supposed to have worked with a purely capitalistic system.
(c) They abandoned Congressional banking regulations that were supposed to have worked with a purely capitalistic system.
(d) They abandoned the principles of the International Monetary Fund that were supposed to have worked with a purely capitalistic system.

4. What may have contributed to the problems of the S&Ls in the 1980s?
(a) Inflation was steady but the deficit was rapidly growing.
(b) Deflation was in the double-digits and real estate prices were going up rapidly.
(c) Inflation was in the double-digits and real estate prices were going rapidly decreasing.
(d) Inflation was in the double-digits and real estate prices were going up rapidly.

5. What events cause deflation?
(a) Deflation occurs when prices suddenly tumble.
(b) Deflation occurs when the government takes steps against inflationary signals.
(c) Deflation occurs when the stock market suddenly tumble.
(d) Deflation occurs when prices suddenly increase.

Short Answer Questions

1. What is the author's main complaint?

2. Why did all nations become socialistic in the New World Order?

3. Why has bank fraud never been eliminated?

4. What U.S. president removed the gold standard from the US dollar?

5. In what year was the concept of the Federal Reserve first developed?

(see the answer key)

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