"Why Was the Fed Created?" with George Selgin -- Ron Paul Fed Lecture Series, Pt 1/3

Rep. Ron Paul sponsored this Congressional lecture on "Why Was the Federal Reserve Created?", the introductory lecture in a three part series on the Federal Reserve System for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public. The lecture was delivered by Dr. George Selgin, Professor of Economics at the Terry School of Business at the University of Georgia and author of a number of books on money and banking, such as "Bank Deregulation and Monetary Order" and "Good Money."

Prof. Selgin provides a short but comprehensive explanation of the institutional drawbacks of the United States banking system during the 19th century and how this fueled desire for financial reform. Unfortunately, as Prof. Selgin goes on to describe, the solution of allowing a free market in banking was rejected and instead another layer of government regulation was placed on the banking sector in the form of the Federal Reserve System.

Other lectures in the Fed series to follow:
Pt. 2: What Does the Fed Do? -- http://youtu.be/pRipVd5wxhI
Pt. 3: What is the Fed's Future? -- http://www.youtube.com/watch?v=IdX60J...

Related: Ron Paul Money Lecture Series
Pt. 1: "What is Money" -- http://www.youtube.com/watch?v=vowbrq...
Pt. 2: "What is Constitutional Money?" http://www.youtube.com/watch?v=k6gMkK...
Pt. 3: "What About Money Causes Economic Crises?" -- http://www.youtube.com/watch?v=npJ0CU...

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  News & Politics

[Butler Stoudenmire]

Dr. Selgin is currently my Economics of the Great Depression class at UGA. Love him!

[Nicholas Zounis]

Deregulate money and return it to the free market. Introduce competitive currencies and you will see gold and silver emerge as money.

[hjillagen]

A truly great lecture; too bad for all the conspiracy theorists in the comments... George Selgin is one smart dude

[vasya128]

Use Bitcoin! End the banks!

[vito7pt]

That is correct! I think the center is the Crown!

[hallcrash]

He did touch on conspiracy theories. He has proof that Wall st. bankers and the senator tasked with the job of inventing the FED met on Jekyll Island, and those people created the FED together. He did not mention names of non public employees.

[phantom2k10]

i haven't watched the whole of this video,but i am guessing nobody is going to speak about the rothschild family that founded the federal reserve and most banks in the uk

[1944jeffray]

While the public was intertained with "Sousa" band numbers, the Zionists said "Let's take over the finances for these Goyas" and thus the federal reserve was born in 1913. the rest is history. get back to your sports tv and news articles and forget thinking about the federal reserve because they don't care for meddling thinkers. That's it in a nutshell, no need for a lenthy video.