The Mystery of Banking
5 hrs. 0 min.
Language
Russian
Author
Murray Rothbard
Author
Murray Rothbard
Narrator
Artem Loginov
Narrator
Artem Loginov
Description
The book is the best introduction to money-related problems. The author shows that money arises from voluntary exchanges in the market; no social contracts or government edicts create money. Instead, a free market should be extended to the production and distribution of money. Starting with a discussion of the classical gold standard of the 19th century, the author concludes the study by analyzing the likely emergence of a European monetary unit and a possible world of unredeemable money. In the afterword, G. Hülsmann continues the analysis from the point where Rothbard left off—up to our day, to the appearance of the euro. In his view, the single European monetary system being built today will inevitably face collapse sooner or later.
Contents:
Introduction
I. MONEY IN A FREE SOCIETY
1. The Significance of Exchange.
2. Barter
3. Indirect Exchange
4. The Meaning of Money
5. Monetary Unit
6. Form of Money
7. Private Coin Minting
8. The Problem of the Right Amount of Money
9. The Problem of Hoarding
10. The Problem of a Stable Price Level
11. Parallel Monetary Systems
12. Money Stocks
13. Conclusion
II. GOVERNMENT INTERVENTION IN THE MONETARY SYSTEM
1. State Revenues
2. Economic Consequences of Inflation
3. Government Monopoly on Coin Minting
4. Debasement of Money
5. Gresham’s Law and Coins
A. Bimetallism
B. Legal Tender
6. Conclusion: The State and the Coin Mint
7. Allowing Banks Not to Repay Depositors’ Funds
8. Central Bank: Breaking Barriers to the Path of Inflation
9. The Central Bank as Organizer and Initiator of Inflation
10. Abandoning the Gold Standard
11. Unbacked Paper Money and Gold
12. Unbacked Paper Money and Gresham’s Law
13. The State and Money
III. THE FINANCIAL DECLINE OF THE WEST
1. First stage: the classical gold standard, 1815–1914
2. Second stage: World War I and the postwar years, 1914–1926
3. Third stage: the gold bar standard (Great Britain and the USA), gold-exchange standards of other countries, 1926–1931
4. Fourth stage: floating unbacked paper currencies, 1931–1945
5. Fifth stage: Bretton Woods and the new gold-exchange standard (USA), 1945–1968
6. Sixth stage: the breakdown of the Bretton Woods system, 1968–1971
7. Seventh stage: the end of the Bretton Woods system—floating rates of unbacked paper currencies, August–December 1971
8. Eighth stage: the Smithsonian agreement, December 1971–February 1973
9. Ninth stage: floating rates of unbacked paper currencies, March 1973–?
Guido Hülsmann. EURO: A NEW SONG IN AN OLD TUNE. on the evolution of the monetary system after the publication of M. Rothbard’s book
1. New monetary authorities
2. The emergence of the European Monetary System (EMS)
3. Significance of the EMS (1979–1998)
4. The role of the Bundesbank in the EMS
5. End of the EMS and creation of the European Central Bank (ECB)
6. The European Central Bank and the euro: economic and political perspectives
7. Is there an alternative to the euro?
8. American inflation and the stock market boom (1982–2001)
9. Global economic crises of the late 1990s (1997–?)
I. MONEY IN A FREE SOCIETY
1. The Significance of Exchange.
2. Barter
3. Indirect Exchange
4. The Meaning of Money
5. Monetary Unit
6. Form of Money
7. Private Coin Minting
8. The Problem of the Right Amount of Money
9. The Problem of Hoarding
10. The Problem of a Stable Price Level
11. Parallel Monetary Systems
12. Money Stocks
13. Conclusion
II. GOVERNMENT INTERVENTION IN THE MONETARY SYSTEM
1. State Revenues
2. Economic Consequences of Inflation
3. Government Monopoly on Coin Minting
4. Debasement of Money
5. Gresham’s Law and Coins
A. Bimetallism
B. Legal Tender
6. Conclusion: The State and the Coin Mint
7. Allowing Banks Not to Repay Depositors’ Funds
8. Central Bank: Breaking Barriers to the Path of Inflation
9. The Central Bank as Organizer and Initiator of Inflation
10. Abandoning the Gold Standard
11. Unbacked Paper Money and Gold
12. Unbacked Paper Money and Gresham’s Law
13. The State and Money
III. THE FINANCIAL DECLINE OF THE WEST
1. First stage: the classical gold standard, 1815–1914
2. Second stage: World War I and the postwar years, 1914–1926
3. Third stage: the gold bar standard (Great Britain and the USA), gold-exchange standards of other countries, 1926–1931
4. Fourth stage: floating unbacked paper currencies, 1931–1945
5. Fifth stage: Bretton Woods and the new gold-exchange standard (USA), 1945–1968
6. Sixth stage: the breakdown of the Bretton Woods system, 1968–1971
7. Seventh stage: the end of the Bretton Woods system—floating rates of unbacked paper currencies, August–December 1971
8. Eighth stage: the Smithsonian agreement, December 1971–February 1973
9. Ninth stage: floating rates of unbacked paper currencies, March 1973–?
Guido Hülsmann. EURO: A NEW SONG IN AN OLD TUNE. on the evolution of the monetary system after the publication of M. Rothbard’s book
1. New monetary authorities
2. The emergence of the European Monetary System (EMS)
3. Significance of the EMS (1979–1998)
4. The role of the Bundesbank in the EMS
5. End of the EMS and creation of the European Central Bank (ECB)
6. The European Central Bank and the euro: economic and political perspectives
7. Is there an alternative to the euro?
8. American inflation and the stock market boom (1982–2001)
9. Global economic crises of the late 1990s (1997–?)
05:35
1-01-introduction
23:54
1-02-money-in-a-free-society-1
34:31
1-03-money-in-a-free-society-2
33:09
1-04-money-in-a-free-society-3
35:56
1-05-gov-t-meddling-with-money-1
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1-06-gov-t-meddling-with-money-2
29:12
1-07-the-monetary-breakdown-1
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1-08-the-monetary-breakdown-2
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1-09-huelsmann-euro-1
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1-10-huelsmann-euro-2
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