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The "What is Money?" Show
Sound Money vs the State: How Inflation Fuels Corruption w/ Tom DiLorenzo (WiM567)
Apr 1, 2025
Tom DiLorenzo, president of the Mises Institute, is a prominent voice in Austrian economics. In this engaging discussion, he explores how inflation fuels corruption and the moral dangers intertwined with government currency monopolies. DiLorenzo critiques academia's echo chamber and the demonization of capitalism, linking historical conflicts to monetary policies. He argues that sound money, like Bitcoin, can empower individuals against political corruption while emphasizing the need for economic education in a world shaped by distorted financial narratives.
02:18:53
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Quick takeaways
- The establishment of the Federal Reserve in 1913 is linked to Marxist principles, leading to inflation and currency devaluation.
- Abraham Lincoln's presidency reveals a more complex narrative that challenges the image of him as a champion of freedom and rights.
Deep dives
The Fed's Origin and Economic Impact
The Federal Reserve was established in 1913, initially to provide necessary funding for World War I. Its creation is associated with Marxist ideas, as central banking aligns with principles outlined in the Communist Manifesto. The Fed's influence can be detrimental, leading to inflation and market distortions. It is argued that the Fed effectively operates as a legalized counterfeiter, undermining the value of currency.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode