The Private Supply of Money | George A. Selgin

The 2009 F. A. Hayek Memorial Lecture, presented by George A. Selgin. Recorded at the annual Austrian Scholars Conference, Ludwig von Mises Institute, 14 March 2009. Includes an Introduction by Joseph T. Salerno.

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[commentarytoday]

Thanks to MisesMedia for this fine video. A superb lecture on private coinage. Excellent ! Ausgezeichnet ! Good thing that the government is not running the internet.

[chitch1776]

Excellent presentation.

[4thstuning]

@tepstolog This is just more government malfeasance. Our recession/depression is 100% govt caused - fed lowering interest rates, regulations lowering reserve requirements for housing, govt pushing home ownership w/o regard for abilities to pay, implicit guarantees by Fannie & Freddie, FDIC, and on and on. Glass-Steagall provided no protections and the Gramm-Leach-Bliley deregulation actually helped stabilize the situation by allowing JPMorgan to buy Bear-Stearns & BOA to buy Merrill Lynch. 

[tepstolog]

Only the FDR Glass-Steagall principle will separate commercial from speculative banking, thus freeing the nation from obligations to Wall St. and the City of London, and re-establishing a credit system for rebuilding the nation.

H.R. 1489, Return to Prudent Banking Act of 2011, is before the House of Representatives, which aims to revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so called 'Glass-Steagall Act

[CaptainLazerus]

It seems that possibly Gift Cards will be the new token!

[marxbitesall]

@commentarytoday

Don't think for a moment that Uncle Scam isn't exploiting it to maximum advantage.

[NicosMind]

The Economics of Inflation by Costantino Bresciani-Turroni, explains the hyperinflation in Germany between 1913-23 very well and in it the reverse of Gresham's Law happened where good money drove out bad as people avoided the German mark and used foreign currencies

[robzrob]

Fascinating.

[PHSDrmStaff3]

Dr. Selgin is a great professor. I had the honor to take his courses while he was at West Virginia University. He is a very knowledgable economist and a great person in general. Excellent presentation and excellent book! Thank you George!

[PHSDrmStaff3]

Dr. Selgin is a great professor. I had the honor to take his courses while he was at West Virginia University. He is a very knowledgable economist and a great person in general. Excellent presentation and excellent book! Thank you George!

[DarthKazi]

@Piscivorus Depends on the value of gold vs. aluminum in the market. As of now, and partly based on recycled aluminum driving the price of it down, aluminium money would be almost worthless in a gold-backed economy.