Central Banking Is the Great Evil of Our Time


This week the Mises Institute holds its annual summer economics program for college students. The Liberty Report checks in with Mises Institute president Jeff Deist about the Institute and the importance of educating the next generation of free market economists.

This video was published by the Ron Paul Institute.


  • What a moron

    I used to have much respect for Ron bit not anymore.

  • livefree1200cc

    We have to STOP borrowing money, stop using credit cards, stop buying new cars we can’t pay cash for. We need to use only cash if we are to change the system. As long as we ourselves are debtors, then we are more part of the problem than part of the solution

  • olde reb

    The precise manner in which the FRBNY and the BOG embezzle a trillion
    dollars annually has been widely spread over the internet for four or
    five years. Is the theft not obvious ?? Ref.
    ; http://www.scribd.com/doc/48194264/rip-off-by-the-Federal-Reserve-revised

  • T C. Skau61

    Mr. You of people who was in “OUR GOV’T” Who took an oath to uphold the “CONSTITUTION” Why did you not force Congresses hand on Clause 30 of the Federal Reserve Act of 1913.

    • livefree1200cc

      1 congressman can not force congress to do anything

  • Three pillars of sand our economic system is built on:

    1.Federal Reserve Bank

    2.Fiat Currency

    3.Fractional Reserve Banking

    The Federal Reserve tries to regulate the economy. Their two mandates are current and expected inflation and unemployment.

    The Federal Reserve creates money and or makes money inexpensive by manipulating interest rates lower. Rarely manipulating rates higher. This is inflation. Prices go up and real wages go down.

    The Federal Reserve creates bubbles and crashes by pushing interest rates too low or too high for too short or too long of time.

    Who regulates the regulators at the Federal Reserve to keep the people safe from it and its mistakes? The only real regulator possible is the free market.

    With the Federal Reserve in place the market becomes the judge of the Federal Reserve decisions, rather than the regulator.

    The Federal Reserve in essence aids debtors and punishes savers. A depreciating dollar aids debtors and harms savers. An appreciating dollar aids savers and harms debtors.

    If you start giving an economy fish (easing Federal Reserve monetary policy, excessive federal government spending; deficit, national debt), the economy starts fishing less and starts dining more. Temporary misallocated (Keynesian stimulated) employment increases and sustainable production employment decreases.

    Abolish the Federal Reserve, the FDIC and all bank regulations except one; require full disclosure on full or fractional reserve backing of deposits.