Economics in One Lesson (Houston 2011)

Ben Bernanke: Loose Talk and Loose Money

Tags: Booms and Busts, The Fed, Money and Banks

01/24/2011 Douglas French

Spontaneous emergence in the evolution of money was founded on individual action. Government cannot proclaim something to be money. Money is a commodity which is demanded mainly as a medium of exchange.

The Federal Reserve Chairman, Bernanke, calls a fall in purchasing power of the dollar by over 95% stable. Interest rates have been pushed to zero. Continual inflation is deliberate and designed. Bernanke pretends he knows what he is doing.

Recorded in Houston, Texas, on 21 January 2011. Sponsored by Jeremy S. Davis.

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