Money and Banks

In this lecture in 1972, supply and demand concepts included: preferences of consumers, prices, quantity, quality, elasticity, equilibrium, marginal utility, present goods, and production processes.

Congress decreed that gold and silver dollars should be interchangeable and put upon the Treasury a mandate to keep them equal in value. How?

John Calvin’s main contribution to the usury question was in having the courage to dump the prohibition altogether.

Our analysis holds that the key reason for financial instability is not the repeal of the Glass-Steagall Act as such but the existence of the central bank.

"Any individual who would live beyond his means, voting himself into a home that he cannot afford, is not a desirable neighbor for those who adhere to the concepts of private ownership and control of property."

Economics is about the most important and interesting drama of all — human action.

We can understand the reaction today to people calling to "end the Fed."

Presented by Douglas E. French at “The Failure of the Keynesian State,” the Mises Circle in Houston, sponsored by Jeremy S. Davis.

The Federal Reserve was created in 1913 by Morgan men to cartelize the banking system and limit competition. This is fractional reserve banking rather than 100% reserves. Rothbard thinks it is fraud. It increases the money supply in an inflationary manner by creating money out of thin air.