John Law and the Mississippi Bubble
From the National Film Board in Canada:
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.