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This quiz consists of 5 multiple choice and 5 short answer questions through Section IV. A Tale of Three Banks, Chapters 16-19 The Creature Comes to America; A Den of Vipers; Loaves and Fishes, and Civil War; Greenbacks and Other Crimes.

Multiple Choice Questions

1. Which European bank become the model for the Federal Reserve System?
(a) First Banc of France became the model for the Federal Reserve System
(b) The Bank of Madrid became the model for the Federal Reserve System.
(c) The Bank of England became the model for the Federal Reserve System.
(d) Bank One of Rome became the model for the Federal Reserve System.

2. The Rothschild family held sway over most political leaders with the exception of what historic figure?
(a) The Rothschild family held no political influence over Napoleon.
(b) The Rothschild family held no political influence over Vladimir Lenin.
(c) The Rothschild family held no political influence over Adolph Hitler.
(d) The Rothschild family held no political influence over Kaiser Wilhelm II.

3. What generalization did the author make about conspiracy theorists?
(a) Conspiracy theorists are generally more intelligent than the general population.
(b) There were two kinds of people in the world--those who believed in conspiracy and those who did not.
(c) Those who believe in conspiracy theories are usually more well-informed than most people.
(d) Those who believe in conspiracy theories usually are better educated than the average person.

4. What disagreement did Alexander Hamilton and Thomas Jefferson have about a central bank?
(a) Alexander Hamilton wanted a limited central bank and Thomas Jefferson wanted its authority to be more far-reaching.
(b) Alexander Hamilton favored a powerful central bank and Thomas Jefferson was for limited powers.
(c) Alexander Hamilton favored a central bank and Thomas Jefferson was against it.
(d) Thomas Jefferson favored a central bank and Alexander Hamilton was against it.

5. What important aspect about the economic history of the country did the author fail to mention?
(a) The author failed to mention that our economic system may have been fixed at one time and then broken again.
(b) The author failed to mention that our economic system depends on foreign investments.
(c) The author failed to mention that our economic system depends on the success of the stock market.
(d) The author failed to mention that our economic system is impossible to fix.

Short Answer Questions

1. What occurred when coinage was weakened through lower percentages of precious metal or completing stripped of such backing?

2. Why was platinum not used to back the monetary system?

3. What risky loan activities have banks participated in?

4. What do many people feel was the real reason behind the establishment of the Federal Reserve?

5. What type of person was Paul Moritz Warburg?

(see the answer key)

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