The American Civil War Economy That Still Haunts America: $36 Trillion Debt Trap

Описание: This history documentary explores the financial state of the United States during the American Civil War, detailing the government's low cash reserves in April 1861. It highlights how the conflict brought the nation to the brink of an economic collapse, forcing a re-evaluation of its financial systems. Understanding this period is crucial for grasping the origins of modern economic policies and the impact on the national debt.

In 1861, the Civil War economy was already collapsing before the first major battle was fought. The United States had no money, no central bank, no income tax, and no way to fund a war. What followed wasn’t just a military conflict — it was the first experiment in total financial warfare. The Civil War economy forced America to abandon gold, invent fiat money, and weaponize inflation to survive.

This is the story of Greenbacks, the first true fiat currency in U.S. history. As the government printed Greenbacks, prices surged, savings were destroyed, and inflation quietly taxed the entire population. The Civil War economy didn’t just decide who won the war — it built the financial system America still uses today.

By tracing the rise of Greenbacks, runaway inflation, and centralized debt, we uncover how the Civil War economy created the modern American state. The tools used in 1861 — money printing, debt expansion, and forced currency acceptance — remain the foundation of today’s system.

⏱️ TIMESTAMPS
0:00 — America Was Bankrupt in 1861. Financial Crisis Started the Civil War.
4:36 — The Death of Gold: The Civil War led America to Invent Fiat Money.
6:56 - Greenbacks, War Bonds, and the Birth of America’s Debt Machine.
8:58 - The Confederate Inflation Spiral — When Money Went to Zero.
12:44 - The Civil War Created Modern America’s Debt and Inflation System.

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