Money, Banking and the Current Mess | Douglas E. French

Presented by Douglas E. French at the "Economics for High School Students" seminar. Recorded at the Mises Institute in Auburn, Alabama; 20 November 2009. Sponsored by Jeremy S. Davis.

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[JessicaBelle81]

I really wish I had a class like this when I was in HS.

I didn't understand the origin of money until my early 20s. It took me even longer to understand fractional reserve banking.

Once I did understand it though all the bells and whistles went off in my head.

[1czelaya]

Those high school students are the true future patriots of freedom and prosperity. I can only hope that they are not corrupted as they venture into academicia and the world by false idealogies and promises that no one can keep but the promises you make for yourself.

Libertarian proud.

[Salihovicable]

Hi I´m Ben Bernanke and I print Money as much as I want

[neXus200xx]

WOW. I've learned all of this, and about money and tramp(exchange) throughout history class in 5th grade elementary school. No wonder why American educational system is crap.

[realisoph]

I am not accusing you of anything... and last time I looked calling someone a rich motherfucker was only coersive as for the motherfucker part.

But you're right, I totally agree that it might be beneficial if I cut that coercive language... doesn't help anyways.

My nerve has been struck long before you... and you know exactly by what... you find it in my very first comment... and that never being hit has got nothing to do with you.

Also try a bit harder to distinguish rich and Rothchild.

[realisoph]

You speak of elections and I speak of puppet governments... there is no democracy... if that's what you meant... it's all neoliberal bs, controlled by "conspiracy". At least I can laugh about your ignorance.

[realisoph]

The reason why I am annoyed with your argumentation is... you actually don't seem very interested in learning... not that I were a teacher of sorts but surely, you the abc of global finance... that shouldn't be too hard for someone speaking "economics", now should it?

[realisoph]

Yeah, dream on... or go and try to fool someone else, or keep on fooling yourself.

Conspiracies... what are you, braindead?

If you are too lame to understand what the FED is, how money is created and society fucked in every hole by interest profits then I really can't help it... either you find someone who explains it to you or you switch on that wobbly stuff up there.

[CurtHowland]

> People, such as me, are sick and tired of this financial bullshit regime.

Government is not going to get any better just because someone else is in charge. Haven't the last few elections (since you read as someone very young) convinced you of that yet?

[CurtHowland]

> the top of the command chain?

No. Government is the institution with the monopoly on legitimate coercion.

Every other organization, firm or individual must get my agreement first.

That's what makes government dangerous, that's why people who love power gravitate to government jobs. Thug cops, for example.

Conspiracies, "who owns the media", etc, are secondary. Without that power to coerce, I can ignore them.

[realisoph]

But then, I am probably more inclined to organize thousands of people laying stones on the streets, just like in La Paz.

[realisoph]

People, such as me, are sick and tired of this financial bullshit regime... and therefore expressing our disdain in exactly that kind of language.

I am not buddhist about it. When it comes to it, I will fight, not necessarily but if needed, I will throw those stones and who knows what, even though I have never done so in my life before, even if it were to my personal detriment.

As for weaseling... that is what I wont allow for the financial mafia of this planet any longer.