How This Recession Has Battered Mainstream Economists: An Austrian Opportunity | Gary North

Presented by Gary North at the 2010 Mises Institute Supporters Summit: "The Economic Recovery: Washington's Big Lie." Recorded in Auburn, Alabama; 8 October 2010.

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News & Politics

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• Ludwig
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• Mises
• Institute
• Supporters
• Summit
• Government
• Washington
• Lies
• Economic
• Recovery
• Banks
• Banking
• Economy
• Liberty
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• Peace
• Gary
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• Recession
• Mainstream
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• Austrian
• Economics

[nubraskan]

Young soldier for liberty. Reporting for duty.

[kmg501]

Great history lessons here.

[stalrunner]

Shouldn't it be "spending cuts increase liberty". The spending cuts have to come before taxes should be cut.

[Juggalo4Peace]

@BarrySlisk i think we pretty much agree. congress did give the fed the authority to do their immoral, disgusting, criminal counterfeiting practice. it's 'private' in the sense that they are unaccountable to the american people

[BarrySlisk]

@Juggalo4Peace

I still won't classify it as private. The thing is here because of government law. It has special powers granted by government. It has monopoly secured by the government.

It's a bastard mutant. Both private and public. It's certainly not purely private.

If it is private then the danish public television is also private. Our government does not choose who is leader of the television station. Oh...it must be private then!

[Juggalo4Peace]

@BarrySlisk its a monopoly of the monetary supply controlled by private bankers with no accountability. the chairman is appointed by the president but i believe the president is only able to choose from a select few. he doesn't have independent authority to choose whomever he pleases

[PenguinProseMedia]

If people truly want answers to why their government, acadamia, and the solutions of the entire establishment of mainstream economics have so utterly and completely failed, for why our economy is in shambles, the Austrians are right there waiting to explain chapter and verse. And, when people here that the solution is simply restoring the freedom, purchasing power and choice stolen from them through generations of central planning and failed economic theory--I think very receptive they will be!

[BarrySlisk]

@BarrySlisk

I, not IS

[BarrySlisk]

@pretorious700

Is would not call FED private. If it is private why can I not create a competing FED? Why is the chairman appointed by politicians?

[BarrySlisk]

This talk seems a bit messy/random and the title is a bit misleading.

[usemlab]

Great speech. I'm proud to have published Gary North's What is Money in Italian. Great book, great lessons. I'd like to hear a USP regarding sound money... to get along with tax cuts increase liberty... anyone got one?

[SeanMauer]

Milton Friedman has recently said (paraphrased) "we can maintain fiat currency and restore stability by simply getting rid of fractional reserve banking".....but wouldn't that mean no more Federal Reserve? The Federal Reserve is the ultimate fractional bankers. What fraction is the cost of the paper and ink that makes a hundred dollar bill?