Lew Rockwell, president of the Ludwig von Mises Institute, discusses Thomas Jefferson’s theory of inflationary money and the business cycle, the history of fiat money in America and around the world from Marco Polo’s adventures through Massachusetts Bay Colony, the Revolutionary War, 1812-14, Andrew Jackson’s battle with Biddle, Lincoln’s greenbacks, the Gilded Age, progressive era tyranny of Woodrow Wilson, passage of the Federal Reserve Act, the World Wars, Great Depression, Cold War, Terror War, the multi-trillion dollar bailout, end of the empire, and the heroic Ron Paul.
MP3 here. (57:33)
Lew Rockwell is the founder and President of the Ludwig von Mises Institute in Auburn, Alabama, Vice President of the Center for Libertarian Studies in Burlingame, California, and publisher of the political Web site LewRockwell.com. He served as Ron Paul’s congressional chief of staff between 1978 and 1982. Check out his new podcast show here.