We Are Living through Late-Stage Central Banking with Robert Breedlove (WiM309)
The "What is Money?" Show
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The Rise and Fall of Capitalism
Once we had the implementation of the Federal Reserve in 1913, the trajectory has started to change, right? We've become steadily less free over time. It's not surprising to me at all that when you install a central bank, which derives all of its revenues from senior age or expansion of the money supply, it sells the new currency units at a market rate that they produce at a below market rate. Once you start printing the money, you've increased the misallocation of capital such that the next bust is even more painful. So I'm reminded here of the way Rothbard put it and I'd basically paraphrase: The state is a robber bearing that will just plunder its victims until
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