Originally produced by the Mises Institute in 1996, this popular documentary was translated and reproduced into Russian in 2007 by the Institute for Dissemination of Information on Social and Economic Science. This Russian version contains additional commentary at the 42:00
The Fed is essentially a giant counterfeiting machine. That would be criminal for you, but is legal for JPMorgan’s men under the Federal Reserve Act written by the big bankers. The Fed’s goal is inflating the money supply in order to have unlimited access to money for any project, e.g. warfare and welfare. Otherwise, the government would have to
Recorded at the Mises Institute Supporters Summit, 1 November 2008; Auburn, Alabama. Includes a brief introduction by Mark Thornton. ***NOTE: Beginning at the 1:11 mark, there are technical difficulties with the video feed. The audio, however, is complete and
It costs money to make money. This fact is not only true for businessmen, investors, and entrepreneurs, but also for the moneymakers themselves — the Department of the Treasury. To print bills or mint coins, the United States Mint and Bureau of Engraving and Printing must purchase all sorts of resources, including paper, ink, equipment, and
Johnny Carson might have quipped about the economy, “Inflation is so bad these days that pennies are now selling on the street for two cents.” This joke may not be all that funny, even with the great Carnac delivering it, but it does have the underpinnings of good comedy: an absurd story based on a kernel of truth. Old pennies are routinely
There is more talk about another stimulus package to help save the economy. Word from Washington predicts that a package that includes extended unemployment benefits, food stamps, and another tax rebate check will pass in a forthcoming lame-duck session of Congress. All of these remedies actually make the patient sicker, but there is a way for
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.