Far as we remember, banks have always been a thing in one way or another, however one too many banks got robbed, destroyed or worse, everyone cashed out all at once; caused the US gov to initiate an insurance policy, which needed a treasury to fulfill those insurance policies, it was a way to help banks.

We think that was the beginning of the US federal reserve; if our memory serves us right. Idk the year or specifics, just that tidbit from history. If we’re wrong then please lmk lol