Wehn researching the monteary system in greater detail, we see how the post Cival War period to the early 1900s was full of panics and major recessions. The central bank was suppose to fix this and, to a degree, has spread them out. However, my view is that this system was passe by the 1950s.
In this video I discuss some of the lessons from the past and how cryptocurrency is operating a bit differently. We see things forming that are global and decentralized, collectively, that should provide resiliency.