Monetary Freedom and its Opposite | Mark Thornton

Recorded at the Mises Institute Supporters Summit, The Gold Standard Revisited, 31 October 2008; Auburn, Alabama. Includes an introduction by Tom Woods. Mark Thornton is Senior Fellow at the Ludwig von Mises Institute.

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[Elasaltaculos]

well, they shrug off the Austrian economists as fringe nutjobs, even if they keep being right over and over again.....

[LibertyOrBust]

Great talk!

[niffink]

Good explanation of why the gold standard is not such a great thing. 

[Yoetah]

I was just walking around...thinking....

"what a reign-in of services reducing government would be domestically - a mighty task" and it occurred to me

"Oh MY, what about reigning in government intervention in foreign countries?"

It's too much...lol...okay, take care and I'll check your channel soon.

[Nintendomanwill]

He's one of the people who recorded that Glenn Beck interview wherein he went batshit at this woman calling about healthcare reform, he was doing work experience or something for a sort of 'liberal' (socialist) media watch on al the right wing pundits like on Fox News and Beck and Limbaugh etc, and when I mentioned that hilarious Beck clip on youtube he was like ZOMG WE WERE THE ONES WHO FOUND THAT AND SPREAD IT OVER THE NET

So I'm doing my bit to convert young American socialists!

[Nintendomanwill]

Okay, could you send me the PM? But why not type it and divide it over several comments? I think that would be better than most of our comments thus far! BTW I just completely schooled a young American progressive (lost in London) on central banking and fiat money-I even induced him to say 'duly (dooly!) noted' when I said that boom and bust can't really occur without central banking and imposition of credit expansion, so gold, that money chosen by markets, is key. He's one of the people who

[Nintendomanwill]

I might just do that actually, although the essay is more or less just a brief exposition of why supposedly benign government intervention is a myth, and that at the most government should only intervene if to ban what should be illegal, not to provide the wares of human industry. For government, the instrument of provision of coercion through taxation, is particularly ill-constituted to provide these services given that it aims not at profit (cooperation) and allows no choice on its ventures.

[djsherin]

PM me if you want a more detailed explanation of what I think.

[djsherin]

Oh don't get me wrong, I'm pro-100% reserve banking. I think what I was saying is that you can't mention that in mainstream economics without being written off.

I believe that in a free market monetary system, demand deposits would be 100% reserve (since they are ON DEMAND) while so called "time deposits" (which are actually loans) would also still exist with no reserve requirement (since availability is surrendered for a given term, thus making it a loan, not a deposit).

[Yoetah]

Are you considering a video on your essay...if not, reconsider.

There's a disconnect and a lack of education on government administration

[Yoetah]

"Government shouldn't tax to provide service. In fact government shouldn't exist, we should just all follow the American Constitution and have a private police force which receives money for following it."

Amen! Talk about repealing tax laws and you're quickly identified and aggressively targeted.

Tyranny taxes. Tax on everything and soon God forbid carbon tax-it's coming and it was done in the most gross, subversive way-exploit the compassion within humans. Tell lies, create a green religion

[Nintendomanwill]

Government shouldn't tax to provide service. In fact government shouldn't exist, we should just all follow the American Constitution and have a private police force which receives money for following it. Law is very finite. Most law needs tearing up. Law is morality in action. Morality must apply to all society, it must be objective, or it applies to no society. The paradigm of states dividing us with different laws and their tyranny of interventionism must end, politics is illegitimate.