@tridentmovies its important to keep in mind to that libertarianism is NOT inherently anti-socialist. as David Boaz once pointed out, a socialist system could be undertaken in a libertarian world as long as each member of a collective agrees to participate and follow the rules. hell, look at linux. the product is designed in opposition to intellectual property rights and has made nontrivial headway. Socialists just have to hold to nonaggresion: I'm not going to say for sure it won't work.
That's idiotic. What an awful argument. Hell, that's not even an argument, it's both a fallacy and an ignorant slur. I don't even know where to begin. Firstly, Chomsky is wealthy and famous. He is not 'driven by envy', and nor is any other socialist. What utter rubbish. Intellectual sloth at its finest. Just what I'd expect from a typical ignorant, intellectually bankrupt libertarian. You have zero understanding of socialism. Socialism does not try for equality of outcome. Sigh.
@tacoterrorist I love the way the definition of socialism is malleable to conform to any "workable" argument against it. Also, the implication that it's difficult to understand. It's very simple, doesn't work, and never will.
@tacoterrorist appeals to intellectualism will get you nowhere. nor is any other socialist, huh? yeah you're one to talk about fallacies. then ad hominem for flavor, and a great sigh of misunderstood resignation to wrap up the great dish of the great socialist thinker. is that all you can serve up? better think harder!
Economic equality was exactly what real socialism aimed at.
+there are numerous and equally idiotic schools of thought within the socialist tradition but theory is theory and red army goons going around shooting priests or landowners and stealing their property is the reality. I'm sorry but greed and envy really are the driving force behind all (large scale) socialist revolutions, historically speaking that is.
Nailed Stef, Propoganda! Also, have you requested an interview with Obama, or better yet a debate? And Tom, say THEFT and thank the Revolution for the State that exists.
What's more, not only are government systems rife with corruption and abuse, but they trap people in poverty by handing them slightly more money than they'd make at an entry level job -- but if they'd gotten the job instead, they could gain experience, and rise out of poverty. Instead, generations are trapped on welfare.
When someone voluntarily helps their neighbor, they really care about improving their lives, not just following rules, and the effort can be tailored to individual needs.
"We want the military industrial complex cut down to size" & "we're sick of the federal reserve bailing out the big wigs and exploiting the rest of us"
@MasonicMouse Intellectual drivel is what leftists do, lots of euphemistic commie language that would take 100x the paper / time to unpack and reveal what they're really talking about. This on the other hand is straight-forward and logical.
The question for the right social and economic system is irrelevant.
It all comes down to each and every one of us individually to drop greed and fear and learn to evolve, to become more self-aware, responsible, compassionate, and to get a feel for the greater good in the right measure. Then we will immediately find ourselves in unimaginable abundance regardless of the currently deployed economic system which would merely become a meaningless label.
You talk about banks, the fed, regulations, and don't mention Ron Paul? Was that pre-agreed? ;)
We, who are interested in reforming state, are also interested in the people that can make some changes in the near term, even if not perfect. Ron Paul is in a unique situation to do just that, by spreading the message and maybe even (hopefully) by being US's next president.
Even if its too late, I prefer a person like him ruling when the SHTF.
Blah, blah, blah. More anarchic palaver. Yes, state overreach is the root of our problem, but it does not follow that eliminating the state entirely is the solution (no matter how many times you say it). We need govt and the force of law (at gunpoint if necessary) to protect our negative rights and help us enforce contracts. Don't respond to me, fyi, I won't come back here - I've hear all the arguments before. You are wrong, anarchy is nothing, a null set and will give us nothing.
One thing I don't quite agree with Tom on is his comment that businesses don't wont a truly free market i.e. they want barriers to entry and want to be able to exert their influence politically. That might be true of some big corporations but most businesses I think would mostly benefit from a freer market and less government interference. I believe that some big companies benefit from the status quo but many other, smaller companies, would benefit in a freer market.
@titan13131 Yes, but he`s refering to Wall Street, i.e. big multinationals listed on the NYSE with political influence, eg Goldman Sachs, Halliburton, GM etc.
@titan13131 I agree. That's what the Distributists, and others, have been saying. Big Government and Big Business haven't been antithetical. On the contrary, you can't have Big Business on the scale we do now WITHOUT government intervention.
Calling on your government for a solution-which had initiated many of these problems in the first place- is useless. I am happy that America is waking up and speaking up, but not all have a clue where the real enemy is. Then again I think, people are so angry and fed up, it is not possible to have a homogenic voice there.
What has happened to Wall Street is that the government has viewed Wall Street as another place that they can loot money, and they've done this by establishing a recognized elite. That's the REAL problem.
Tom's "history" of Gold "gaining in value" is simply incorrect. That said, he should stick with the politics of Libertarianism, and leave the economic world alone. The point is Freedom is best for Mankind, and without force, Mankind will work toward its own betterment through the free, unfettered movement of goods, services and the capital which supports them.
The people at occupy wall street are aware of this from what I've learned. The movement is getting better every day. I agree with Stefan Molyneux most of the time, but he's just naysaying.
Is this guy really saying investment in the stock market is a bad thing? Why invest in productive assets when we could just keep our wealth under the mattress.
@IHaveNoLegsIsBack I heard him say the problem is over-heating of the market due to everyone's attempt to escape inflation. If you put fiat under your mattress or even keep it in a savings account you constantly LOSE money since its purchasing power is driven down by each expansion of the money supply and increasing Government debt. He also said due to the panic caused by loss of value, people who have no business speculating due to lack of knowledge, take market risks to offset inflation.
@leafwatch ..no the time value of money is derived from the opportunity to invest, inflation really is not important, this guy seems to think we should live in system where savings is put under the mattress is better than investing it in assets which produce goods and services that make our economy run (via the stock market). If you don't trust people to 'speculate due to a lack of knowledge' then perhaps we do need an institution telling us what to do every day. Overheating the market, rubbish.
@IHaveNoLegsIsBack You don't read or listen carefully. Saving fiat (gov. created) is a losing proposition, under a mattress or in a bank due to inflation (gov. created) and low interest rates (gov. controlled). So people flee into investments they don't adequately understand to avoid known inflationary loss. The very people that caused these problems cannot tell us what to do to escape the problems they create. No overheating? You also never saw the housing/derivatives bubble, right?
@leafwatch Perhaps you don't read or listen carefully. This guy honestly believes we should live in a world where people save under the mattress rather than investing heir savings. By definition you cannot have high inflation and low interest rates for a long period of time (a simple macroeconomic concept). If you can't trust people to invest then what can you trust them to do? Housing market? that was caused by the federal government forcing banks to get people into houses.
@IHaveNoLegsIsBack You cannot twist someone's words and expect to score points in a logical discussion. Stef's ideas are by no means simple, but I'm beginning to think yours are; else why do you endlessly regurgitate the same questions & spin after you received answers already?
Woods is a Catholic. He spouts at the mouth of peace and non-violence, and respect for other human beings. This coming from someone defending one of the most violent institutions that ever existed, the Roman Catholic Church. Psshh. The title of one of his books, "How the Catholic Church Built Western Civilization" just makes me cringe.
Stefan, You played the angry birds, admit that :). This bitch seemed a pretty hard opponent (a wood one? Tom Woods :) But he looks like one of beetles, anyway). And that with Ave Maria, that was Good :).
I think most folk want to live without violence but how do we manage the 1% of the species that are clearly intelligent psychopaths and always rise to the top because they are the most manipulative people in nature and this is compounded by the structures of the system they design.
The videos here attempt to address your concern, so keep on truckin! I'll just chime in and say if we're worried about intelligent psychopaths ruling us, the last thing we would want to do is create a power structure for that 1% to use against us. Power doesn't corrupt. Power is corruption.
@baconvest Power is corrupt. I wrote a song about it 2 days ago in the hope that some of the kids that are protesting would hear it. Check it out and let me know what you think in the comments and pass it along. I don't care about money I just care about our country. It's on you tube "who got the money" by Russell Parker. Thanks
The zeroeth component of any realistic solution to that problem, must surely be not to give them a few hundred billion dollars of free enforcers and PR every year. Hence, lasseiz-faire, or libertarian anti-statism.
These two guys rock as always and I know we can use the power of the internet to clone their ideas world-wide. Its the beginning of the end of the state. What a great time to be alive. Take back control of your money. Support Bitcoin.
Your system is a failure. YES, this system includes your Voluntary model. Your free market anarchy always leads to absolute destruction regardless of what you primates think.
The world continues to spiral out of control due to peoples supposed freedom to self maximize. I FIND IT SICKENING AND REPULSIVE.
This system produces nothing but the DUMBEST FUCKING PEOPLE and one way or another there will be order.
Your system is based in a dream world. YES, your system isn't voluntary, it's domination, an attempt to make all mankind cogs in the computer world. You have no concept of what spontaneous order is and how not just humans achieve it but even fish.
The world continues to fail to achieve because of self righteous asshats like yourself that insist on trying to deny people freedom. I FIND YOUR OPPRESSION OFFENSIVE!
@NativeNewMexican I've noticed many Zeitards, great name BTW, have been out positing their propoganda on just about every libertarian and anarchist vid they can find.
@NativeNewMexican Valued VolunTard: Thanks for your comprehensive synopsis of TZM.
Be so kind to answer me one question though: How would you in that AnCap world respond to someone whose place in that "spontaneous order" might be to not have the means to produce enough food and starve?
Would you say "freedom also means freedom to fail" and point him to the NAP, i.e. "tuff luck, go die"?
If you think this person wouldn't then go steal and tell the NAP to f* itself, YOU wish for a dream world.
@d0Nmademedoit "How would you in that AnCap world respond to someone whose place in that 'spontaneous order' might be to not have the means to produce enough food and starve?" Give them some money and / or food, or the knowledge & means to produce it. Is that even a serious question? And the person you posted to never said anything about theft or that they wouldn't expect a starving person to steal, so the end of your comment is worthless and a testament to that aforementioned self-righteousness
How did the poor end up currently being "taken care of"? People voted for representatives that instituted policies to help them. That means that people have indicated that they have a vested interest in helping the poor. Why do we need a middleman that embezzles and is 80% inefficient?
Good god, you cannot fathom the idea that people may actually be able to do good deeds without a gun to their head. I pity you.
"and point him to the NAP, i.e. 'tuff luck, go die'?" The NAP is that the initiation of the use of force is immoral. That in your mind that translates to "tuff luck, go die," is evidence of your own mental deficiency. The phrase, "freedom also means freedom to fail" is used exclusively in regards to large corporations which are regularly saved by govt. when they otherwise would've gone under. Ever hear "too big to fail"? It's all about corporations.
1. Suggesting that Ancaps wish to see people go off and die is in no way representative of the truth. Nothing produces more wealth than freedom, NOTHING. And to suggest that a supercomputer can somehow figure out every little detail of the price system indicates a complete lack of understanding of economics and individual priority choices.
2. Abusive powerful companies are _created_ by gov't such as the British East India Company, not by free markets.
Last I just want to make the point that pretending your opp. is morally inferior or whatever and that they conveyed things they didn't actually convey is lame and will ultimately only serve to bury you deeper in your own delusional little fantasy world.
So, let me see, we have a society that believes that preventing the starvation of the most needy of us is so worthwhile that they are willing to vote for people with guns to subjugate the entire population to provide for them. Seems they have some incentive to help those in aid. Why not do it without the abusive, corrupt, embezzling middlemen of government?
Free markets produce the greatest wealth fastest, meaning more to give to charity.
@NativeNewMexican Want to help the poor using force? Why not just pass a law to let them ransack your house at night without ramifications? Why the need to use government?
That's a great point! Why do we have to pay for tax officials and men with guns to come steal my wealth and then give it to the poor, why not just make it legal for the poor to come rob me on their own!
Suppose you were the person starving. Wouldn't it also be extremely stressful if you had to hope for the whims of someone to give you just enough food for your next meal? Either this stress or the hunger itself will MAKE you steal to get ahead. Nobody would voluntarily die because of that NAP idea.
From a TZM perspective: Why not make hunger impossible technically? Not through that metaphorical "gun" or a "state", just people agreeing to do it.
Why the hell can't you depend on charity. First, anyone capable of stealing is capable of a job and in a free market jobs are everywhere. Second, prices for everything are lower than any other system because you're not paying for as many bullies with guns. Third, read Practical Anarchism by Molyneux, or any other modern anarchist writing. Fourth, SOME people won't agree to your TMZ, like me, and you'll use a gun to make me. Otherwise, the TMZ you're talking about is anarchy.
I would try very hard to find work of any kind. Failing that (which is hard to imagine, unless I'm severely disabled), I would appeal to relatives and friends for temporary help. Failing that, I would appeal for help from broader charities.
If I were on the point of starvation, I can't guarantee that I wouldn't steal a piece of bread. But, I'd recognize that I owed that person a debt, and would pay it back many times over as soon as possible.
Of course, the reality is that the overwhelming majority of government money goes to middle class bureaucrats, well connected corporatist and bankers, the military industrial complex, other contractors, fat pensions for government employees, etc.
Americans gave almost 700 billion to charity last year, and that's during a recession. Real charities have efficiency ratings upwards of 90%. Government wastes over 70c of every dollar.
Great video Stefan. Tom Woods is a pretty awesome guy. It would be very cool if you could have Peter Schiff on your show again, he is a pretty awesome guy too.
This comment has received too many negative votesshow
I just love watching these two Theo-Capitalists spin their wheels. Saying things like "more free stuff" and then leading off into some denouncing historical comparison. PATHETIC AND PREDICTABLE. You two scumbags have no idea what is coming because you're both mind locked in the greed system as the only way to do things.
FUCK YOUR FREE MARKET ECONOMY, I'll watch you flee like rats when this system crumbles.
Why do you troll these types of things, you obviously disagree so go elsewhere. A scientific system where money doesn't exist? So, if every scientist that understood human kind came to the same conclusion that freedom and a currency that facilitated trade while being also a commodity with intrinsic value, would you say "That's what I'm talking about" and then later realize that it was the free market AKA Capitalism?
@NativeNewMexican You've introduced so many wishy washy arguments within arguments that, NO I don't know what you're talking about. Are you saying science is what it is today because of Capitalism?
Elaborate into a non run on argument that makes sense.
Argument 1. If you're not going to discuss the issue and just bitch about the discussion, you're a troll. So, Why do you bother trolling?
Argument 2. Scientists support the scientific method, which if applied throughout history, the system that produces the greatest amount of wealth, prosperity, and technological advancement is the free market. It also has proven to minimize corruption, poverty, and stupidity. Shame it didn't work on you.
@MattSyTy money isn't required for greed. humans, despite the society, will always compete for resources. i have yet to see a social structure that does not involve the accumulation of resources into the hands of a few: those at the top, who can adapt best to the social environment, and, to a degree, their offspring.
barring a society run by a benevolent computer, greed is a given. what matters is how you are greedy, not that you are greedy, because we all are.
@ashxlon There's no such thing as a benevolent computer, there's only rational decision making theory to allocate resources. The market assumes that it already does this in its un-equal distributive manner. Just because you haven't seen or read about a non greed system, doesn't mean anything in the overall argument.
Whether you like it or not, this planet is changing and our survival depends on intelligent management of the Earth's resources. I won't let the greedy destroy it.
@MattSyTy as long as humans need resources, they will compete. no 'rational decision making theory' will ever be able to functionally allocate resources. that is my position now.
let's throw my position out of the window momentarily. i don't want to assume anything about your position, so i have questions: i'll start with this: what happens to markets in the society that you propose?
@MattSyTy@MattSyTy as long as humans need resources, they will compete. no 'rational decision making theory' will ever be able to functionally allocate resources. that is my position now.
let's throw my position out of the window momentarily. i don't want to assume anything about your position, so i have questions: i'll start with this: what happens to markets in the society that you propose?
@ValeriyaAviva I understand that greed and power corrupt absolutely, that's all I need to know. I find it pitiful that people such as yourself will try to distinguish between the so called free market and crony capitalism. The parallels are one in the same, semantically rationalized, and religiously upheld.
You should take a look around at the ugliness building up in the world and ask yourself who's going to hurt who?
The police aren't going to protect the wealthy when this system falls.
@MattSyTy ...I don't want anybody protecting the rich. Businesses create jobs so that means that more people will make money. Most liberal politicians such as Barack Obama are supported by huge corporations such as Goldman Sachs. Huge corporations will always find a way to use the system for their gain. They don't want competition. They'd have to lower their prices if there is competition which is exactly what Capitalism is against. Stefan Molyneux is an anarchist. What are you arguing against?
@ValeriyaAviva I need no lessons in understanding what Stefan or yourself thinks is correct. I've lived in this post industrial nightmare long enough. Anarchists are disorderly and chaotic. They must be stopped at all costs.
@MattSyTy Dear sir, there is no use arguing with you because you have no grasp of Stefan's idea of anarchy and you have no grasp of capitalism. I've lived in the Soviet Union long enough. I'm an immigrant. Bigger government is never a good option. Freedom is.
@ValeriyaAviva I've heard Stefbot's putrid ideas long enough. I have no concern for what others think I understand or don't understand. The life you lived in the Soviet Union was a lie. A social manipulation where power was still concentrated into the hands of the few under a monetary structure that didn't have the technical capability to make due on what Communism promised.
As far as Bigger Government goes, no, I don't advocate bigger government. I advocate getting rid of it over time.
More likely with anti-trust laws, businesses will attack other companies with larger economies of scales. When broken up, these companies lose efficiency, which raises price.
I used to think I was too weak to make life in a world run by competition. I don't think so any more. I think I'm too weak to make it in a world run by people with privileges because of their access to the guns. They are the ones who don't want fair competition, and project their fears on us.
COPY AND PASTE! “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure.” — Thomas Jefferson
The supreme court ruled it "private". However I remember something about monopolies...? One protected by Gov't? Can't be audited? If is public...can't be audited? We aren't allowed to see any transactions? Things to consider. I believe that's simply enough for me to say hmm.
Why, as a free market kind of guy, do you want some authority to fix the price of gold in a gold standard? Why not trust the market and allow the price of gold to float, unencumbered?
@maxdeniroAu You misunderstand what is involved in a gold standard. It is merely giving a definition, not "price fixing." That's like saying, "Hey, you're a free-market guy. Why declare that a foot is 12 inches? Why not let them float?"
@tewj57 I assure you, I do not misunderstand a gold standard. Gold is what it is. Why do you want to force the market to value it at a certain amount of dollars? A more honest system of money is to allow gold to float as an unemcumbered wealth reserve, free of the diluting effects of forcing it to circulate as money. Your analogy is in no way the same. People do not value an inch or a foot differently in trade. Gold varies in value depending many factors, not just how much money is printed.
@tewj57 paper money is not evil in itself. It is only when it is touted as a method of storing value. In its role as medium of exchange it is unrivalled throughout history. As a store of value, it is terrible. There is no reason why medium of exchange and store of value roles must be fulfilled by the same thing. Indeed, this is the cause of the collapse of previous gold standards. This idea seems far out, but as Stef says, so would the idea of flying or computers to those living centuries ago.
This is an extreme exaggeration. Of 2000 protestors how many were talked to?? Now you have them all in the same can. An impossibility by the way. Give them a chance for pete sake they have just gotten underway which is more than some (clear throart) are doing. Perhaps the profound energy of anger and wanting change will be the most important aspect of all this getting off the ground. You can't intellectualize that..
@jeffiek You can say I won't and then go ahead and do it. Perhaps naive would have been a more appropiate word than ignorant. If ignorant they wouldn't be there in the first place. If I were sleeping on the darn ground for my country and her people I would want encouragement not a critique. I have faith they will work it out. Praise needed here and not gobbly gook. However even though we disgree I respect your opinion.
This is one of the best interviews ever, considering I expected an echo chamber. I am constantly impressed with these two gentlemen. Peter Schiff is the king of analogies but also an incredibly bad conversationalist because of his need to talk over people and interrupt them. These men have mastered the art of fine decorum.
@26:00,check out Reuters article: "Greenspan says Congress pushed Fed on housing boom". Greenspan: "If the Fed as a regulator had tried to thwart what everyone perceived as a fairly broad consensus that the trend was in the right direction, homeownership was rising and that was an unmitigated good, then Congress would have clamped down on us," "if ... we had said we're running into a bubble and we need to retrench, the Congress would say 'we haven't a clue what you're talking about'"
Thank you for this
jhk7809 3 days ago
@tridentmovies its important to keep in mind to that libertarianism is NOT inherently anti-socialist. as David Boaz once pointed out, a socialist system could be undertaken in a libertarian world as long as each member of a collective agrees to participate and follow the rules. hell, look at linux. the product is designed in opposition to intellectual property rights and has made nontrivial headway. Socialists just have to hold to nonaggresion: I'm not going to say for sure it won't work.
ThePythagoran 1 week ago
audit the fed! rand paul!
MrSomethingscary 1 month ago
@tridentmovies
That's idiotic. What an awful argument. Hell, that's not even an argument, it's both a fallacy and an ignorant slur. I don't even know where to begin. Firstly, Chomsky is wealthy and famous. He is not 'driven by envy', and nor is any other socialist. What utter rubbish. Intellectual sloth at its finest. Just what I'd expect from a typical ignorant, intellectually bankrupt libertarian. You have zero understanding of socialism. Socialism does not try for equality of outcome. Sigh.
tacoterrorist 1 month ago
@tacoterrorist I love the way the definition of socialism is malleable to conform to any "workable" argument against it. Also, the implication that it's difficult to understand. It's very simple, doesn't work, and never will.
pretorious700 1 month ago
@tacoterrorist appeals to intellectualism will get you nowhere. nor is any other socialist, huh? yeah you're one to talk about fallacies. then ad hominem for flavor, and a great sigh of misunderstood resignation to wrap up the great dish of the great socialist thinker. is that all you can serve up? better think harder!
JJDarklink 1 month ago
@tacoterrorist and just what does socialism try for in your opinion? its only fair to let you try and write a comment that's not just bile.
JJDarklink 1 month ago
@tacoterrorist
Economic equality was exactly what real socialism aimed at.
+there are numerous and equally idiotic schools of thought within the socialist tradition but theory is theory and red army goons going around shooting priests or landowners and stealing their property is the reality. I'm sorry but greed and envy really are the driving force behind all (large scale) socialist revolutions, historically speaking that is.
j4ck2234 1 month ago
watch the Zeitgeist trilogy by Peter Joseph, it resumes the dialog of this video.
zoomboost 1 month ago
Nailed Stef, Propoganda! Also, have you requested an interview with Obama, or better yet a debate? And Tom, say THEFT and thank the Revolution for the State that exists.
og53 2 months ago
Mancrush on both these guys.
Aryaba 2 months ago
10 out of 10 chaps...more more MORE!
jamesjjjspike 2 months ago
Comment removed
ninjabunnyman 3 months ago
What's more, not only are government systems rife with corruption and abuse, but they trap people in poverty by handing them slightly more money than they'd make at an entry level job -- but if they'd gotten the job instead, they could gain experience, and rise out of poverty. Instead, generations are trapped on welfare.
When someone voluntarily helps their neighbor, they really care about improving their lives, not just following rules, and the effort can be tailored to individual needs.
ninjabunnyman 3 months ago
Want to spread liberty? Buy copies of Tom's book "Rollback" and distribute to your friends or personally affiliated authorities.
truevoice08 4 months ago
wait wait wait wait....i think i know who this guy is.....i have his books
MutantBamHammer 4 months ago
"We want the military industrial complex cut down to size" & "we're sick of the federal reserve bailing out the big wigs and exploiting the rest of us"
..IS exactly what they are saying.
tr75out 4 months ago
@tr75out: Then they're saying this should be done and watched over and improved by the entity that created and maintain the problems.
andyissemicool 4 months ago in playlist More videos from stefbot
@MasonicMouse Intellectual drivel is what leftists do, lots of euphemistic commie language that would take 100x the paper / time to unpack and reveal what they're really talking about. This on the other hand is straight-forward and logical.
regresseur 4 months ago
Thanks for great interview!
DoctorSparklesMusic 4 months ago
The nonagression principle should be taught in elementary school.
dapop1001 4 months ago
@stefbot have you considered having CptnMidnite on the show?
andthereisntone 4 months ago
how great would it be if Tom Woods and Stefan Molyneux hosted a seminar at a few of the Occupy events.
OccupyLA, for instance, has started a "university" and a library, so perhaps the movement is open to expanding its awareness.
chrstsldr 4 months ago
The question for the right social and economic system is irrelevant.
It all comes down to each and every one of us individually to drop greed and fear and learn to evolve, to become more self-aware, responsible, compassionate, and to get a feel for the greater good in the right measure. Then we will immediately find ourselves in unimaginable abundance regardless of the currently deployed economic system which would merely become a meaningless label.
herzmeister 4 months ago
god i thought it said James Woods... Bye!
TheNonBeliever82 4 months ago
(regarding the fed)"on the progressive left there has been a refusal to look at this question... "
Come on, Tom, you really think that the conservative right (republicans) has argued anything in opposition above what the democratic party has said?
It's almost like both parties are taking the mafia approach and are unwilling to discuss, or even acknowledge the REAL federal reserve system.
Cailwyn 4 months ago
wowowowowowowwowo :)
fergus247 4 months ago
i wanna scream!!!
SayCloe 4 months ago
whew... woods speaks more than molyneaux and is just as dead on! Get out the message.
ecuaben 4 months ago 6
You talk about banks, the fed, regulations, and don't mention Ron Paul? Was that pre-agreed? ;)
We, who are interested in reforming state, are also interested in the people that can make some changes in the near term, even if not perfect. Ron Paul is in a unique situation to do just that, by spreading the message and maybe even (hopefully) by being US's next president.
Even if its too late, I prefer a person like him ruling when the SHTF.
State will blame freedom anyway.
Ron Paul 2012
dromeiro 4 months ago
Blah, blah, blah. More anarchic palaver. Yes, state overreach is the root of our problem, but it does not follow that eliminating the state entirely is the solution (no matter how many times you say it). We need govt and the force of law (at gunpoint if necessary) to protect our negative rights and help us enforce contracts. Don't respond to me, fyi, I won't come back here - I've hear all the arguments before. You are wrong, anarchy is nothing, a null set and will give us nothing.
glennd7962 4 months ago
One thing I don't quite agree with Tom on is his comment that businesses don't wont a truly free market i.e. they want barriers to entry and want to be able to exert their influence politically. That might be true of some big corporations but most businesses I think would mostly benefit from a freer market and less government interference. I believe that some big companies benefit from the status quo but many other, smaller companies, would benefit in a freer market.
titan13131 4 months ago
@titan13131 Yes, but he`s refering to Wall Street, i.e. big multinationals listed on the NYSE with political influence, eg Goldman Sachs, Halliburton, GM etc.
nammoo89 4 months ago
@nammoo89 OK fair enough then.
titan13131 4 months ago
@titan13131 I agree. That's what the Distributists, and others, have been saying. Big Government and Big Business haven't been antithetical. On the contrary, you can't have Big Business on the scale we do now WITHOUT government intervention.
Jordoom777 4 months ago
A very intelligent discussion on some pertinent topics.
kylhunt 4 months ago 2
Naivete? How about blind ignorance?
igotta9 4 months ago
My two favorite libertarian speakers in one video!!
andrewh817 4 months ago
stefbot, you truly are a shill.
riethc 4 months ago
@riethc U mad?
Darkwizzrobe 4 months ago
Calling on your government for a solution-which had initiated many of these problems in the first place- is useless. I am happy that America is waking up and speaking up, but not all have a clue where the real enemy is. Then again I think, people are so angry and fed up, it is not possible to have a homogenic voice there.
judithnarz 4 months ago
Why do people think think is a cult?
kittycatcarley 4 months ago
What has happened to Wall Street is that the government has viewed Wall Street as another place that they can loot money, and they've done this by establishing a recognized elite. That's the REAL problem.
captaindiesalot 4 months ago 2
Tom's "history" of Gold "gaining in value" is simply incorrect. That said, he should stick with the politics of Libertarianism, and leave the economic world alone. The point is Freedom is best for Mankind, and without force, Mankind will work toward its own betterment through the free, unfettered movement of goods, services and the capital which supports them.
captaindiesalot 4 months ago
The people at occupy wall street are aware of this from what I've learned. The movement is getting better every day. I agree with Stefan Molyneux most of the time, but he's just naysaying.
iagoj79 4 months ago
Walmart ceo's on classroom walls :) Good example.
bergweg 4 months ago
Steph, could you please post that boner limerick. (LOL)
TGsPost 4 months ago
When asked what his greatest accomplishment had been during his two terms as President, Andrew Jackson replied "I killed the Bank."
allblacks420 4 months ago
Stef, I just LOVE your idea of a banner "type what you want into your bank account" BRAVO!
RebelRadius 4 months ago
Is this guy really saying investment in the stock market is a bad thing? Why invest in productive assets when we could just keep our wealth under the mattress.
IHaveNoLegsIsBack 4 months ago
@IHaveNoLegsIsBack I heard him say the problem is over-heating of the market due to everyone's attempt to escape inflation. If you put fiat under your mattress or even keep it in a savings account you constantly LOSE money since its purchasing power is driven down by each expansion of the money supply and increasing Government debt. He also said due to the panic caused by loss of value, people who have no business speculating due to lack of knowledge, take market risks to offset inflation.
leafwatch 4 months ago
Comment removed
IHaveNoLegsIsBack 4 months ago
@leafwatch ..no the time value of money is derived from the opportunity to invest, inflation really is not important, this guy seems to think we should live in system where savings is put under the mattress is better than investing it in assets which produce goods and services that make our economy run (via the stock market). If you don't trust people to 'speculate due to a lack of knowledge' then perhaps we do need an institution telling us what to do every day. Overheating the market, rubbish.
IHaveNoLegsIsBack 4 months ago
@IHaveNoLegsIsBack You don't read or listen carefully. Saving fiat (gov. created) is a losing proposition, under a mattress or in a bank due to inflation (gov. created) and low interest rates (gov. controlled). So people flee into investments they don't adequately understand to avoid known inflationary loss. The very people that caused these problems cannot tell us what to do to escape the problems they create. No overheating? You also never saw the housing/derivatives bubble, right?
leafwatch 4 months ago
@leafwatch Perhaps you don't read or listen carefully. This guy honestly believes we should live in a world where people save under the mattress rather than investing heir savings. By definition you cannot have high inflation and low interest rates for a long period of time (a simple macroeconomic concept). If you can't trust people to invest then what can you trust them to do? Housing market? that was caused by the federal government forcing banks to get people into houses.
IHaveNoLegsIsBack 4 months ago
@IHaveNoLegsIsBack
Hmmm...do I listen to Tom Woods or a POS troll named "IHaveNoLegsIsBack"...?
TOUGH ONE!
SugarySweet100 4 months ago
@IHaveNoLegsIsBack You cannot twist someone's words and expect to score points in a logical discussion. Stef's ideas are by no means simple, but I'm beginning to think yours are; else why do you endlessly regurgitate the same questions & spin after you received answers already?
leafwatch 4 months ago
@IHaveNoLegsIsBack You just can't trust people, they've all been lied to their whole lives...
rockoutmichigan 4 months ago
Obama and Soros called out their Acorn minions to dilute the message and they have been very successful at doing so, END THE FED!
patriotawakening 4 months ago
This was the best one of your Wall Street videos, Stef - it should be played on all screens down at the protest sites across the USA.
not2tees 4 months ago 2
Woods is a Catholic. He spouts at the mouth of peace and non-violence, and respect for other human beings. This coming from someone defending one of the most violent institutions that ever existed, the Roman Catholic Church. Psshh. The title of one of his books, "How the Catholic Church Built Western Civilization" just makes me cringe.
TheSentienthuman 4 months ago
@TheSentienthuman
Agree with you on the catholic thing... but that has NOTHING to do with his economic analysis.
marcdaddy33 4 months ago
Great video, Toms audio disconnected a little though.
Hashishin13 4 months ago
I thought this was a video game ..
cyrutvirus 4 months ago
@yuriyatwebgress If someone calls you uneducated and ignorant, is not condescending, merely pointing out the obvious.
NIK4EVA 4 months ago 2
Only Losers look for Leaders
WarDogLRS 4 months ago 4
Excellent!
rileyphillip 4 months ago
Stefan, You played the angry birds, admit that :). This bitch seemed a pretty hard opponent (a wood one? Tom Woods :) But he looks like one of beetles, anyway). And that with Ave Maria, that was Good :).
qedisk 4 months ago
Comment removed
qedisk 4 months ago
Comment removed
qedisk 4 months ago
This has been flagged as spam show
"We want free stuff" :D
karlpokus 4 months ago
I think most folk want to live without violence but how do we manage the 1% of the species that are clearly intelligent psychopaths and always rise to the top because they are the most manipulative people in nature and this is compounded by the structures of the system they design.
ehpl 4 months ago
The videos here attempt to address your concern, so keep on truckin! I'll just chime in and say if we're worried about intelligent psychopaths ruling us, the last thing we would want to do is create a power structure for that 1% to use against us. Power doesn't corrupt. Power is corruption.
baconvest 4 months ago
This has been flagged as spam show
@baconvest Power is corrupt. I wrote a song about it 2 days ago in the hope that some of the kids that are protesting would hear it. Check it out and let me know what you think in the comments and pass it along. I don't care about money I just care about our country. It's on you tube "who got the money" by Russell Parker. Thanks
Ruzzellpuzzel 4 months ago
@ehpl
The zeroeth component of any realistic solution to that problem, must surely be not to give them a few hundred billion dollars of free enforcers and PR every year. Hence, lasseiz-faire, or libertarian anti-statism.
PanzerDivisionBOM 4 months ago
The nanny state: We're just one regulation away from nirvana!
FishofMuu 4 months ago 3
These two guys rock as always and I know we can use the power of the internet to clone their ideas world-wide. Its the beginning of the end of the state. What a great time to be alive. Take back control of your money. Support Bitcoin.
CorpseCallosum 4 months ago 2
What a dynamic duo! If I were tasked with assembling an All-Star Pro-Liberty Debate Team, Tom and Stefan would be my lottery picks!
PongGod 4 months ago
A nice Stefan-Tom Woods mashup. Great listen.
efrem1 4 months ago
You gotta get this audio up on iTunes so my friend can listen to it on his flight to Taiwan!
DoxaPrepper 4 months ago
The pyramid still stands, but the pyramid will fall.
Truthseekingmissileo 4 months ago
The pyramid still stands.
Truthseekingmissileo 4 months ago
Why do i see transformer pic before i clicked the vid?
AgentPig007 4 months ago
These two ancaps in one interview... the amount of greatness here...
Valenhiem 4 months ago 6
A single 1964 (or prior) 90% silver dime has a current melt value of $2.30. Or 23 "new and improved" nickle plated copper dimes. Carry on.
trick29420 4 months ago 2
Why do people not trust themselves? Parenting.
shelly8510 4 months ago 3
I'm not very well informed.. are they both libertarian?
Eleinna 4 months ago
Dear minions of the Capitalist delusion.
Your system is a failure. YES, this system includes your Voluntary model. Your free market anarchy always leads to absolute destruction regardless of what you primates think.
The world continues to spiral out of control due to peoples supposed freedom to self maximize. I FIND IT SICKENING AND REPULSIVE.
This system produces nothing but the DUMBEST FUCKING PEOPLE and one way or another there will be order.
MattSyTy 4 months ago
@MattSyTy
Dear idiots of the Zeitard movement.
Your system is based in a dream world. YES, your system isn't voluntary, it's domination, an attempt to make all mankind cogs in the computer world. You have no concept of what spontaneous order is and how not just humans achieve it but even fish.
The world continues to fail to achieve because of self righteous asshats like yourself that insist on trying to deny people freedom. I FIND YOUR OPPRESSION OFFENSIVE!
I won't follow your orders!
NativeNewMexican 4 months ago 36
@NativeNewMexican I've noticed many Zeitards, great name BTW, have been out positing their propoganda on just about every libertarian and anarchist vid they can find.
mersk100 4 months ago
@NativeNewMexican Valued VolunTard: Thanks for your comprehensive synopsis of TZM.
Be so kind to answer me one question though: How would you in that AnCap world respond to someone whose place in that "spontaneous order" might be to not have the means to produce enough food and starve?
Would you say "freedom also means freedom to fail" and point him to the NAP, i.e. "tuff luck, go die"?
If you think this person wouldn't then go steal and tell the NAP to f* itself, YOU wish for a dream world.
d0Nmademedoit 4 months ago
@d0Nmademedoit "How would you in that AnCap world respond to someone whose place in that 'spontaneous order' might be to not have the means to produce enough food and starve?" Give them some money and / or food, or the knowledge & means to produce it. Is that even a serious question? And the person you posted to never said anything about theft or that they wouldn't expect a starving person to steal, so the end of your comment is worthless and a testament to that aforementioned self-righteousness
regresseur 4 months ago
@regresseur
How did the poor end up currently being "taken care of"? People voted for representatives that instituted policies to help them. That means that people have indicated that they have a vested interest in helping the poor. Why do we need a middleman that embezzles and is 80% inefficient?
Good god, you cannot fathom the idea that people may actually be able to do good deeds without a gun to their head. I pity you.
NativeNewMexican 4 months ago
@d0Nmademedoit
2.
"and point him to the NAP, i.e. 'tuff luck, go die'?" The NAP is that the initiation of the use of force is immoral. That in your mind that translates to "tuff luck, go die," is evidence of your own mental deficiency. The phrase, "freedom also means freedom to fail" is used exclusively in regards to large corporations which are regularly saved by govt. when they otherwise would've gone under. Ever hear "too big to fail"? It's all about corporations.
regresseur 4 months ago
@regresseur
1. Suggesting that Ancaps wish to see people go off and die is in no way representative of the truth. Nothing produces more wealth than freedom, NOTHING. And to suggest that a supercomputer can somehow figure out every little detail of the price system indicates a complete lack of understanding of economics and individual priority choices.
2. Abusive powerful companies are _created_ by gov't such as the British East India Company, not by free markets.
NativeNewMexican 4 months ago
@d0Nmademedoit
3.
Last I just want to make the point that pretending your opp. is morally inferior or whatever and that they conveyed things they didn't actually convey is lame and will ultimately only serve to bury you deeper in your own delusional little fantasy world.
regresseur 4 months ago
@d0Nmademedoit
So, let me see, we have a society that believes that preventing the starvation of the most needy of us is so worthwhile that they are willing to vote for people with guns to subjugate the entire population to provide for them. Seems they have some incentive to help those in aid. Why not do it without the abusive, corrupt, embezzling middlemen of government?
Free markets produce the greatest wealth fastest, meaning more to give to charity.
Charity grows with surplus.
NativeNewMexican 4 months ago
@NativeNewMexican Want to help the poor using force? Why not just pass a law to let them ransack your house at night without ramifications? Why the need to use government?
truevoice08 4 months ago
@truevoice08
That's a great point! Why do we have to pay for tax officials and men with guns to come steal my wealth and then give it to the poor, why not just make it legal for the poor to come rob me on their own!
NativeNewMexican 4 months ago
@NativeNewMexican You can't count on charity.
Suppose you were the person starving. Wouldn't it also be extremely stressful if you had to hope for the whims of someone to give you just enough food for your next meal? Either this stress or the hunger itself will MAKE you steal to get ahead. Nobody would voluntarily die because of that NAP idea.
From a TZM perspective: Why not make hunger impossible technically? Not through that metaphorical "gun" or a "state", just people agreeing to do it.
d0Nmademedoit 4 months ago
@d0Nmademedoit
Why the hell can't you depend on charity. First, anyone capable of stealing is capable of a job and in a free market jobs are everywhere. Second, prices for everything are lower than any other system because you're not paying for as many bullies with guns. Third, read Practical Anarchism by Molyneux, or any other modern anarchist writing. Fourth, SOME people won't agree to your TMZ, like me, and you'll use a gun to make me. Otherwise, the TMZ you're talking about is anarchy.
NativeNewMexican 4 months ago
@d0Nmademedoit
I would try very hard to find work of any kind. Failing that (which is hard to imagine, unless I'm severely disabled), I would appeal to relatives and friends for temporary help. Failing that, I would appeal for help from broader charities.
If I were on the point of starvation, I can't guarantee that I wouldn't steal a piece of bread. But, I'd recognize that I owed that person a debt, and would pay it back many times over as soon as possible.
ninjabunnyman 3 months ago
@d0Nmademedoit
Of course, the reality is that the overwhelming majority of government money goes to middle class bureaucrats, well connected corporatist and bankers, the military industrial complex, other contractors, fat pensions for government employees, etc.
Americans gave almost 700 billion to charity last year, and that's during a recession. Real charities have efficiency ratings upwards of 90%. Government wastes over 70c of every dollar.
ninjabunnyman 3 months ago
When criminals have the law on their side, nothing stops them from stealing everything. Then killing everyone!
TABOOVSKNOWLEDGE 4 months ago
Titans. Out-fucking-standing. Freedomainradio! What is the plan? hahaha
wymx1 4 months ago
Great video Stefan. Tom Woods is a pretty awesome guy. It would be very cool if you could have Peter Schiff on your show again, he is a pretty awesome guy too.
titan13131 4 months ago 2
Ah, the minions of Stefbot have spoken to silence the dissenter.
MattSyTy 4 months ago
@MattSyTy A convoluted way to complain about people simply disagreeing with you. And as if you hadn't seen it coming....
regresseur 4 months ago
@regresseur I will remain intolerant of your kind regardless.
MattSyTy 4 months ago
@MattSyTy I care because... ?
regresseur 4 months ago
@MattSyTy Free market of ideas, and nobody's buying your crap.
NativeNewMexican 4 months ago
@NativeNewMexican lol! awesome.
AnarchoCapitalistTV 4 months ago
This comment has received too many negative votes show
I just love watching these two Theo-Capitalists spin their wheels. Saying things like "more free stuff" and then leading off into some denouncing historical comparison. PATHETIC AND PREDICTABLE. You two scumbags have no idea what is coming because you're both mind locked in the greed system as the only way to do things.
FUCK YOUR FREE MARKET ECONOMY, I'll watch you flee like rats when this system crumbles.
SCUMBAG SELF-RATIONALIZERS
MattSyTy 4 months ago
@MattSyTy What a waterproof argumentation. You've convinced me!
portalstoryline 4 months ago
@portalstoryline You're sarcasm is irrelevant to me.
MattSyTy 4 months ago
@MattSyTy
Why do you troll these types of things, you obviously disagree so go elsewhere. A scientific system where money doesn't exist? So, if every scientist that understood human kind came to the same conclusion that freedom and a currency that facilitated trade while being also a commodity with intrinsic value, would you say "That's what I'm talking about" and then later realize that it was the free market AKA Capitalism?
NativeNewMexican 4 months ago 4
@NativeNewMexican You've introduced so many wishy washy arguments within arguments that, NO I don't know what you're talking about. Are you saying science is what it is today because of Capitalism?
Elaborate into a non run on argument that makes sense.
MattSyTy 4 months ago
@MattSyTy
Argument 1. If you're not going to discuss the issue and just bitch about the discussion, you're a troll. So, Why do you bother trolling?
Argument 2. Scientists support the scientific method, which if applied throughout history, the system that produces the greatest amount of wealth, prosperity, and technological advancement is the free market. It also has proven to minimize corruption, poverty, and stupidity. Shame it didn't work on you.
NativeNewMexican 4 months ago 4
This has been flagged as spam show
@MattSyTy Yet you took the time to respond.
portalstoryline 4 months ago
@MattSyTy lol :p
collector842002 4 months ago
@MattSyTy every system is a greed system.
ashxlon 4 months ago
@ashxlon Just keep telling yourself that.
MattSyTy 4 months ago
@MattSyTy no. you tell me: what system isn't a greed system?
ashxlon 4 months ago
@ashxlon A scientific system where money doesn't exist.
MattSyTy 4 months ago
@MattSyTy money isn't required for greed. humans, despite the society, will always compete for resources. i have yet to see a social structure that does not involve the accumulation of resources into the hands of a few: those at the top, who can adapt best to the social environment, and, to a degree, their offspring.
barring a society run by a benevolent computer, greed is a given. what matters is how you are greedy, not that you are greedy, because we all are.
ashxlon 4 months ago 2
@ashxlon There's no such thing as a benevolent computer, there's only rational decision making theory to allocate resources. The market assumes that it already does this in its un-equal distributive manner. Just because you haven't seen or read about a non greed system, doesn't mean anything in the overall argument.
Whether you like it or not, this planet is changing and our survival depends on intelligent management of the Earth's resources. I won't let the greedy destroy it.
MattSyTy 4 months ago
@MattSyTy as long as humans need resources, they will compete. no 'rational decision making theory' will ever be able to functionally allocate resources. that is my position now.
let's throw my position out of the window momentarily. i don't want to assume anything about your position, so i have questions: i'll start with this: what happens to markets in the society that you propose?
ashxlon 4 months ago
@MattSyTy @MattSyTy as long as humans need resources, they will compete. no 'rational decision making theory' will ever be able to functionally allocate resources. that is my position now.
let's throw my position out of the window momentarily. i don't want to assume anything about your position, so i have questions: i'll start with this: what happens to markets in the society that you propose?
ashxlon 4 months ago
@MattSyTy lol
What is scientific about this?
Moragauth 4 months ago
@MattSyTy You, my friend, do not understand the difference between Capitalism and Corporatism/Crony Capitalism. Please don't hurt yourself.
ValeriyaAviva 4 months ago 6
@ValeriyaAviva I understand that greed and power corrupt absolutely, that's all I need to know. I find it pitiful that people such as yourself will try to distinguish between the so called free market and crony capitalism. The parallels are one in the same, semantically rationalized, and religiously upheld.
You should take a look around at the ugliness building up in the world and ask yourself who's going to hurt who?
The police aren't going to protect the wealthy when this system falls.
MattSyTy 4 months ago
@MattSyTy ...I don't want anybody protecting the rich. Businesses create jobs so that means that more people will make money. Most liberal politicians such as Barack Obama are supported by huge corporations such as Goldman Sachs. Huge corporations will always find a way to use the system for their gain. They don't want competition. They'd have to lower their prices if there is competition which is exactly what Capitalism is against. Stefan Molyneux is an anarchist. What are you arguing against?
ValeriyaAviva 4 months ago 3
@ValeriyaAviva I need no lessons in understanding what Stefan or yourself thinks is correct. I've lived in this post industrial nightmare long enough. Anarchists are disorderly and chaotic. They must be stopped at all costs.
MattSyTy 4 months ago
@MattSyTy That you think you've lived in a nightmare shows how ignorant, spoiled and just plain dumb you are.
regresseur 4 months ago
@MattSyTy are you brave enough to pull the trigger yourself?
nurbSoldier 4 months ago
@MattSyTy Dear sir, there is no use arguing with you because you have no grasp of Stefan's idea of anarchy and you have no grasp of capitalism. I've lived in the Soviet Union long enough. I'm an immigrant. Bigger government is never a good option. Freedom is.
ValeriyaAviva 4 months ago 73
@ValeriyaAviva I've heard Stefbot's putrid ideas long enough. I have no concern for what others think I understand or don't understand. The life you lived in the Soviet Union was a lie. A social manipulation where power was still concentrated into the hands of the few under a monetary structure that didn't have the technical capability to make due on what Communism promised.
As far as Bigger Government goes, no, I don't advocate bigger government. I advocate getting rid of it over time.
MattSyTy 4 months ago
@MattSyTy
"I don't advocate bigger government. I advocate getting rid of it over time."
So, your desired "end" is a Free-Market Anarchy?
KyleSkullz 4 months ago 2
@MattSyTy The amount of contradictions in your argument boggles my mind. Cheers!
ValeriyaAviva 4 months ago 2
You cannot reform slavery, you must end it. You cannot reform violence, you must end it. You cannot end it as long as you support it.
Snowblindinfinity 4 months ago 38
"yeah yeah yeah...I wanna solve problems, doodeley doo!" LMAO, Tom Woods is awesome!
mjs0686 4 months ago
Businesses collude to keep prices up? Maybe.
More likely with anti-trust laws, businesses will attack other companies with larger economies of scales. When broken up, these companies lose efficiency, which raises price.
optionism 4 months ago
I used to think I was too weak to make life in a world run by competition. I don't think so any more. I think I'm too weak to make it in a world run by people with privileges because of their access to the guns. They are the ones who don't want fair competition, and project their fears on us.
Zerafinel 4 months ago 2
This has been flagged as spam show
COPY AND PASTE! “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure.” — Thomas Jefferson
YouTheory 4 months ago
The supreme court ruled it "private". However I remember something about monopolies...? One protected by Gov't? Can't be audited? If is public...can't be audited? We aren't allowed to see any transactions? Things to consider. I believe that's simply enough for me to say hmm.
annewilken 4 months ago
tom mother fuckin' woods
MOONDOGGIESWTF 4 months ago
@stefbot
Why, as a free market kind of guy, do you want some authority to fix the price of gold in a gold standard? Why not trust the market and allow the price of gold to float, unencumbered?
maxdeniroAu 4 months ago
@maxdeniroAu You misunderstand what is involved in a gold standard. It is merely giving a definition, not "price fixing." That's like saying, "Hey, you're a free-market guy. Why declare that a foot is 12 inches? Why not let them float?"
tewj57 4 months ago
@tewj57 I assure you, I do not misunderstand a gold standard. Gold is what it is. Why do you want to force the market to value it at a certain amount of dollars? A more honest system of money is to allow gold to float as an unemcumbered wealth reserve, free of the diluting effects of forcing it to circulate as money. Your analogy is in no way the same. People do not value an inch or a foot differently in trade. Gold varies in value depending many factors, not just how much money is printed.
maxdeniroAu 4 months ago
@tewj57 paper money is not evil in itself. It is only when it is touted as a method of storing value. In its role as medium of exchange it is unrivalled throughout history. As a store of value, it is terrible. There is no reason why medium of exchange and store of value roles must be fulfilled by the same thing. Indeed, this is the cause of the collapse of previous gold standards. This idea seems far out, but as Stef says, so would the idea of flying or computers to those living centuries ago.
maxdeniroAu 4 months ago
@maxdeniroAu
"In its role as medium of exchange it is unrivalled throughout history. As a store of value, it is terrible."
You acquire money to use it in the future, so a good medium of exchange can't be a bad store of value.
Previous gold standards were violently ended by governments. They didn't collapse.
Xasew 4 months ago 2
@tewj57 Just because Mises said it, does not make it necessarily true.
maxdeniroAu 4 months ago
Occupy the Fed/End The Fed by Alex Jones this weekend in Texas.
Moodamage 4 months ago
why does every mises scholar have absolute shit audio quality?
ancapistan 4 months ago
Hand-out List for Protestors Occupy Wall St
TITLE CORRECT TO SEARCH
youtube.com/watch?v=BC-sXAIDVJM
landlogger 4 months ago
This is an extreme exaggeration. Of 2000 protestors how many were talked to?? Now you have them all in the same can. An impossibility by the way. Give them a chance for pete sake they have just gotten underway which is more than some (clear throart) are doing. Perhaps the profound energy of anger and wanting change will be the most important aspect of all this getting off the ground. You can't intellectualize that..
landlogger 4 months ago
@landlogger "Now you have them all in the same can."
Did you watch the video? @1:35 Tom Woods - "I'm not generalizing"
In fact, the whole beginning discusses the variety of protesters.
jeffiek 4 months ago
@jeffiek You can say I won't and then go ahead and do it. Perhaps naive would have been a more appropiate word than ignorant. If ignorant they wouldn't be there in the first place. If I were sleeping on the darn ground for my country and her people I would want encouragement not a critique. I have faith they will work it out. Praise needed here and not gobbly gook. However even though we disgree I respect your opinion.
landlogger 4 months ago
Oh gawd.. The smart is overwhelming!! my stupid is burning...
BrokenSentence 4 months ago
This is one of the best interviews ever, considering I expected an echo chamber. I am constantly impressed with these two gentlemen. Peter Schiff is the king of analogies but also an incredibly bad conversationalist because of his need to talk over people and interrupt them. These men have mastered the art of fine decorum.
maniswil2 4 months ago
@maniswil2 Schiff's analogies are on point!
DigitalShaolin 4 months ago
This is one of your best videos ever made Stefan. I really appreciated this one, and will make sure to send it around.
Xeogt 4 months ago
Great discussion, would love to see more of these from you guys
RKAddict101 4 months ago
IS Stefan a ...BRONY?
Ravengaurd6 4 months ago
@26:00,check out Reuters article: "Greenspan says Congress pushed Fed on housing boom". Greenspan: "If the Fed as a regulator had tried to thwart what everyone perceived as a fairly broad consensus that the trend was in the right direction, homeownership was rising and that was an unmitigated good, then Congress would have clamped down on us," "if ... we had said we're running into a bubble and we need to retrench, the Congress would say 'we haven't a clue what you're talking about'"
evmazu 4 months ago
This is fantastic! Brilliant minds here.
kuchek 4 months ago 3