Episode 1 – End the Fed: Hoard Bitcoins

In this work, Carl Menger challenges prevailing theories of his time by introducing a bottom-up perspective on the origin of money. He argues that money does not arise from state decree or collective agreement but evolves naturally from individuals' subjective valuations of goods. Menger emphasizes the marketability and divisibility of commodities, explaining how goods like gold and silver became widely accepted as money due to their inherent utility. The book also delves into the historical development of money, transitioning from barter systems to monetary economies, and introduces the concept of the regression theorem to explain the value of money. Douglas French provides an introduction to this edition, highlighting the significance of Menger's work in the context of the Austrian School of Economics.

This book explores the ethics and economics of money production from ancient times to the present. Hülsmann argues that the government monopoly on money production has no ethical or economic justification and advocates for private money production. He disputes centuries of assumptions about money management by governments and central banks, suggesting that money should be treated as a privately produced good like other commodities. The book also examines historical and theoretical perspectives, including the works of 14th-century Bishop Nicole Oresme, to make a strong case for the privatization of money production and the separation of money from state control.

In 'End the Fed', Ron Paul argues that the Federal Reserve System is both corrupt and unconstitutional. He contends that the Fed's actions cause booms, bubbles, and busts in the business cycle and that it inflates currency to levels similar to those seen in Weimar Germany or Zimbabwe, threatening an inflationary depression. Paul also argues that the Fed serves the interests of big banks and wealthy elites rather than the general public, and that it facilitates warfare by enabling the government to finance its debts through inflation, which acts as a hidden tax on the population.