Money and Banks

The demand for a medium of exchange is the composite of two partial demands: the intention to use it in consumption and production and the intentio

we should jettison our fiat money system in favor of a gold or multicommodity-metal system (such as gold, platinum, silver, and copper). While we're at it, we should jettison fractional-reserve banking in favor of full-reserve banking.

Money is the thing which serves as the generally accepted and commonly used medium of exchange.

Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009.

Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009.

Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Ron Wilson, and Professional Planning of Easley, LLC.

Recorded at the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Ron Wilson, and Professional Planning of Easley, LLC.

Recorded at the Mises Circle in Seattle, September 12th, 2009. Sponsored by James M. Wolfe.

That phony money creates a false boom is not an unknown fact in history.

Presented by Douglas E. French at “Recovery or Stagnation?,” the Mises Circle in San Francisco; sponsored by Mark L.