Thursday, May 10, 2007

Money, Banking and the Federal Reserve

The attached video is a lecture from the Mises Institute ( explaining the differences between a monetary system based upon a 100% gold standard banking system and a fractional reserve banking system. The concepts discussed in the video are based upon the writings of the late econmist Murray Rothbard one of the outstanding economists of the Austrian School of Economics during the last half of the 20th century.