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John Law and the Mississippi Bubble

Richard Condie, 1978, 9 min 40 s

In this animated short, Richard Condie offers up a history lesson about one of the most sensational get-rich-quick schemes that ...
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In this animated short, Richard Condie offers up a history lesson about one of the most sensational get-rich-quick schemes that took place in France over 200 years ago. With economist John Law at the helm, the plan was to open a bank and exchange bank notes for gold at wildly inflated share prices to mask the fact that the country's gold had been depleted in the building of Louis XIV's palace. When the inevitable rush to cash in the notes takes place, poor John Law is left broke and broken-hearted.
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John Law and the Mississippi Bubble

It was one of the most sensational get-rich-quick schemes heard of in a long time, but it eventually burst over the head of its originator, John Law. This "rags to riches to rags" story, in which the plan was to open a bank and exchange banknotes (paper!) for gold at wildly inflated share prices, ends when John Law, having been cleaned out as a result of a rush to cash in the notes, is left broke and broken-hearted.
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