"What is Money?" with Joseph T. Salerno -- Ron Paul Money Lecture Series, Pt 1/3

Rep. Ron Paul sponsored this Congressional lecture on "What is Money?", part one of a three part series on the basic principles of money for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public. Joseph T. Salerno, Ph.D., delivered the lecture. He is academic vice president of the Mises Institute, professor of economics at Pace University, and editor of the Quarterly Journal of Austrian Economics.

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

[Alberto Veronese]

a mature society should be self-deterministic!

[Szygyify]

Money is a commodity. It differs from other commodities in being demanded mainly as a medium of exchange.

[pauluzio2k5]

money is the root of all evil

[RedDaVincy]

Baby don't hurt me.

[Frank wiebe]

There is enough gold to go on a gold standard. Any amount of money is sufficient for trade as long as it is divisible enough. If gold became used as money its value would EXPAND to meet increased demand as a medium of exchange. It is also important to understand that a single coin of gold can be used many times in one day.

[ayhan bilgin]

if you have no eggs or anything to exchange how do you exchange?

if you have nothing to sell where do you get money?

may it cause you to be money-printer-god-man's slave as an animal?

[yakomuto]

This might be a silly question, but why exactly is Gold more valuable than paper? isn't the value of both just a made up concept by humans in the first place, so why is one more valuable than the other, unless you're going to suggest the other is more rare, but there's rarer things than Gold.

[GeologistRob]

FeS2 is fools gold.

[lisalee281]

think of all that paper we could be wiping our ass with. Then we could focus on hemp cultivation and trade. Yea