Money and Banking

Increases in money aren't sprinkled from the sky or distributed randomly throughout the population. They occur through the commercial banking system and the Federal Reserve. Those who receive the money first benefit at the expense of those receiving the money last.

The situation has become serious. Eurozone currencies will dissolve back into regional currencies.

Starting with President Bush, and continuing into President Obama’s term, the US government has paid out more than $11 trillion in stimulus money.

Forty years ago today, on the morning of Sunday, August 15, 1971, the US president, Richard Nixon, declared the inconvertibility of the dollar into gold. It was to be the great liberation that Keynesians and governments had dreamed of for decades. The results, however, have been catastrophic.

Every student in a money-and-banking course should read this book at least twice.

Recorded at Mises University 2011.

Recorded at Mises University 2011.

Recorded at Mises University 2011.

We have a government that cannot control its spending, and we have a national debt that cannot possibly be paid back.

Archived from the live Mises.tv broadcast, this lecture by Doug French was presented at the 2011 Mises University in Auburn, Alabama.