The history of fiat money failures
Автор: Goldmoney
Загружено: 2011-06-18
Просмотров: 15071
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Watch the whole 30-minute video at http://www.goldmoney.com/parks-interview. Lawrence Parks, of FAME, and James Turk, Director of the GoldMoney Foundation, talk about the coming collapse of our monetary system and the lack of political will to resist the temptation to over issue paper money. They talk about fiat money inflation in France during the Revolution and mention "Fiat Money Inflation in France" by Andrew Dickson White, which Lawrence gave to Trichet, Paulson and others. They explain how that historic episode ended in disaster and what is ahead for the American economy. They explain how every fiat currency ha ended being worth less than the paper it was printed on and how the temptation for politicians is just too strong to resist when they are handed a printing press.
They also comment on the impossibility of centrally planning the money supply and how the illusion that central bankers are in control is mere propaganda, the reality is that they improvise and react to events or to political pressures, as they themselves publicly admit (after they've left their posts).
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