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Cheaper spirits
07/02/2018 -In Fredman’s epistle no. 24, the poet Carl Michael Bellman hails deflation as it is making aquavit cheaper. Times are bad! People are sad - but with a lower nicker comes cheaper liquor…...
Tumba Bruk is founded
07/02/2018 -The Riksbank wishes to put an end to counterfeit banknotes. One way is to manufacture paper that is difficult to copy. So the bank starts its own paper mill at Tumba.
New policy creates inflation
07/02/2018 -When the Hats took power, it was the end for the cautious economic policy that had long been pursued. The new policy caused inflation to soar.
Military defeat leads to banking crisis
07/02/2018 -While the war is going well, many people deposit money in the Bank of the Estates of the Realm (Sveriges Riksbank). But when they attempt to withdraw it, following the defeat at Poltava, there is no money to be had. The Bank simply freezes its...
Anckarström shoots the king
07/02/2018 -Gustav III is murdered by a borrower who has made large losses due to the king’s manipulation of the value of money.
Emergency coins fund the war
07/02/2018 -During the reign of Charles XII, wars cost a lot of money. To fund them, more than 40 million emergency coins are issued. The round copper coins have different inscriptions such as “Jupiter”, “Mars” and “Flink och färdig” (quick and ready).
Historical timeline
25/01/2018 -Sveriges Riksbank, or the Riksbank as it is usually called, is the world’s oldest central bank. The Riksbank has a 350 year old history. Image sources for the timeline below: Dagens Nyheter, Margaret Thatcher Foundation, Royal Coin Cabinet,...
Stock market crash on Wall Street
07/02/2018 -On 24 October 1929, the stock exchange on Wall Street in New York crashes. This event marks the end of the Roaring Twenties and is the start of a worldwide depression. The Riksbank is led by Ivar Rooth.