Lew Rockwell: Death of the Dollar

40 years ago today former President Nixon was fighting inflation and overwhelming war costs and with that he ended the last remnants of the gold standard. At that time Nixon claimed he was defending the dollar but his critics said it was one of the most damaging decisions in modern economic history. Are we feeling the effects of this decision four decades later? Lew Rockwell, chairman of Ludwig von Mises Institute, tells us who's to blame for the death of the dollar.

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• Ludwig von mises institute
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[soccerforlife02]

@soccerforlife02 ANDDD she laughs at "Tricky DICK" hahahahaha

[soccerforlife02]

NOT only is she gorgeous but she's Brilliant....ahhhh 

[QofLife69]

cute host.

[colourmegone]

@DarkMatterPlanB Hmm, criticisms against the market, well let me see, there are so many. I will mention BP oil spill fiasco caused directly by the "market" ignoring government regulations in reckless pursuit of profit, then there's the collapse of the world economic system brought about by banks and investment houses, then there's numerous scams perpetrated by businesses large and small on a daily basis. The last is rather vague but I'm sure you get the drift

[colourmegone]

@DarkMatterPlanB I don't make videos, and I have no interest in entering into "drama". I have stated my case. You have not been able to refute any of my points except to try to imply that I'm some kind of mindless minion of government power. I believe i have refuted that notion. Have a nice life.

[colourmegone]

@DarkMatterPlanB While this isn't the biggest load of specious, ill thought out tripe I have ever seen it's not far behind the winner. It is exactly the sort of infantile rant I would expect from a dedicated Randian who worships the "brave individual" who fights his way to the top against all the odds. It has its roots in 19th century rags to riches literature which was written to elevate the morality of children, hence its childish simplicity.

[colourmegone]

@DarkMatterPlanB There are many things which are not done by the government and quite a number of them are deleterious. Government is no different to any other organization the difference is that the government's activities are meant to be for the benefit of all its citizens, not the enrichment of a few who have inherited immense wealth through no reason other than their parentage. We tried the system you advocate, it's called "feudalism", and it didn't work out.

[colourmegone]

@DarkMatterPlanB "What exactly are you talking about?" If you don't understand the discussion perhaps you should keep your ill-informed comments to yourself. "if the government does not give an official stamp of approval" Depends on what they're approving. Take prescription drugs for example, I suppose you trust the drug companies to put probity before profit.

And no one "owns" my mind, which is why I don't believe bullshit like conspiracy theories and crackpot economic theories.

[uk6strings]

"HAHAHA! *Ahem!*" That was funny.

Rockwell hits the ball out of the park in this interview - love the plugs for Ron Paul as well.

[oldickeastman]

Austrian econ a hoax. We are in deflation -- the rise in many prices facing consumers are do to monopoly pricing of gas and agribusiness, not to monetary inflation. We are in deflation -- not enough buying power, not enough hiring power, not enough debt=paying power. Rothschild is going long on dollars -- selling us his gold. Think about that -- and watch this video (paste to youtube browser): "Answering the Gold Scam and the Great Hyperinflation Hoax "