Gold, Peace, and Prosperity [Part 1]

Professor Floy Lilley reads the first part of Ron Paul's important monograph, "Gold, Peace, and Prosperity: The Birth of a New Currency."
Ron Paul has been the leading champion of sound money in Congress. Here he explains why sound money means a new gold standard.
This monograph is written in the clearest possible terms with the goal of explaining the basics of paper money and its effects of inflation, business cycles, and government growth.
He maps out a plan to bring about a dollar that is as good as gold, one that would be protected against manipulation by government and central bankers.
This monograph first appeared in 1981, and it has been in wide distribution ever since.
Henry Hazlitt writes the introduction, and Murray Rothbard writes the preface.
This audiobook is also available for download in MP3 audio format at mises.org/multi....

[@JETZcorp]

I was listening to this earlier today while playing SimCity 4. I realized the irony of soaking in theories on capitalism, whist playing arguably one of the most socialist games ever created.
In that spirit, I cut my city's taxes in half, went from a progressive to a flat tax rate, and noticed a more prosperous city. Thank you Mr. Paul, Mr. Woods, and Mr. Schiff!

[@TadRapidly]

This is all very true and inspiring. The problem is that the lifespan of our fiat currency has been adequate enough for our government to build a military infrastructure so enormous that it will squelch any opposition to it's will. We have literally funded the means for our own destruction through our labor.

[@gergenheimer]

Actually, the point is that BEFORE Greenspan was installed at the Fed, he said (and wrote) that a sound currency backed by hard assets is the only way to maintain the value of the money and protect people's wealth/savings. After he was at the Fed he changed his tune completely.

[@gergenheimer]

Actually "Money as Debt" reinforces the idea of the need for a currency backed by a hard asset. I've watched that excellent movie several times, you should watch it again, too. The point is made very clearly that it was the severing the link of our money to gold (through the fractional reserve system, then the complete abandonment of the gold standard) that allowed money to be created by banks and govt by way of borrowing from the bank. The created money has debt built in from the outset.

[@Avidcomp]

@samten10a If the population doubles and the supply of gold has not increased then the spot price increases therefore if the price doubles then only half the amount of reserves can still serve the increased (doubled) population.

[@CurtHowland]

Also the western Roman empire.
The problem with denying monetary cause and effect is that you have to then deny all the times it's been correctly identified throughout history.

[@kingbane2]

@samten10a yes, however that means the government can manipulate the price of gold. right now however, the government doesn't really regulate the price of paper money. a private bank does, ie the federal reserve.

[@staggerbite]

Actually the problem is that the government doesn't print the money and instead has a private institution to do it for them. What Ron Paul is suggesting is for the government to control it and instead of being based on a fractional reserved system. He wonts it to be based on a gold standard to keep the dollar from losing its purchasing power.

[@TurboLoveTrain]

Greenspan wasn't always evil.

[@constablekohler]

wow, its taken 28 years for his 'predictions' to come true. Wasn't it earlier this week when it was announced that the USD will no longer be the reserve currency?

[@Rickdeckard2020]

Greenspan? you must be kidding me right?
1993 the head of the house banking commity proposed these changes to the fed
1- Independant Audit of the Feds Operations
2- Taped meetings of the Open Market Commity
3- Presidential appointments of all regional bank heads
and Greenspan resisted and lobbied against the changes. Quoting Greenspan is like quoting the Fox on how the henhouse should be protected.

[@lewis121701]

What ever it is I said go back and read again , I guess it was something over fractured banking I have no idea. But I'm sure it was bad.

[@Rickdeckard2020]

i knew id get that, please when you have a few minutes watch the whole video im refering to and THEN explain to me what you think (without using a slogan like gold is liberty)
BTW, who's going to pay for the gold to be used?

[@damok9999]

Belligerent - a nation or person engaged in war or conflict, as recognized by international law.......very interesting!

[@cds162]

he wasn't???
when was he Not evil...
he expaned the money supply and caused most of the economical problems we are having right now

[@Rickdeckard2020]

The Gold standard by itself is almost a Red Herring, imo you guys have good intentions but are being mislead by a 'good cop / bad cop' routine.
I know I will get knee-jerk negative reactions for this (god forbid anyone should have a different opinion) but
watch the 5 part "Money as Debt" video
/watch?v=cy-fD78zyvI
It will give you an alternate perspective

[@Cleric775]

Income tax... council/land tax... to name a few...