Anatomy of a Market Meltdown
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(38:26)
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.
(38:26)
Jorg Guido Hülsmann addresses some of the Problems in Cycle Theory at the 2003 Austrian Scholars Conference.
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.
Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.(16:52)