19 September, 2008
Book: The Mystery of Banking
Posted by Socrates in bankers, banking, economics, economy, libertarians, money, Socrates at 9:05 pm | 
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Posted by Socrates in bankers, banking, economics, economy, libertarians, money, Socrates at 9:05 pm |
Permanent Link
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6 Responses to “Book: The Mystery of Banking”
19 September, 2008 at 10:23 pm
“Although first published 25 years ago, Murray Rothbard’s
The Mystery of Banking continues to be the only book that
clearly and concisely explains the modern fractional
reserve banking system, its origins, and its devastating effects on
the lives of every man, woman, and child. It is especially appropriate in a year that will see; a surge in bank failures, central banks around the globe bailing out failed commercial and investment banks, double-digit inflation rates in many parts of the world and hyperinflation completely destroying Zimbabwe’s
economy, that a new edition of Rothbard’s classic work be republished and made available through the efforts of Lew Rockwell and the staff at the Ludwig von Mises Institute at an obtainable price for students and laymen interested in the vagaries of banking and how inflation and business cycles are created.”
19 September, 2008 at 11:28 pm
What does Rothbard have to say about the issue of usury and the usurpation of sovereign authority (viz: money creation) by private interests?
Absolutely nothing.
20 September, 2008 at 12:23 am
Nope. That’s because Murray Rothbard was a member of that tiny little ethnic group that has always been the dominant player in “the issue of usury and the usurpation of sovereign authority (viz: money creation) by private interests”. :-)
20 September, 2008 at 10:03 am
A pretty good survey text is Raymond P. Kent’s Money & Banking.
The only problem with this book is that it is dated because of deregulation of financial markets i.e. the repeal of Glass Steagall. Another problem is that the politicians are letting the Federal Reserve violate its charter & policy at will i.e. the loans made to Deutsche Bank backed by non-US government securities this time last year.(That I mentioned last year at this time too.)
20 September, 2008 at 11:15 pm
The Federal Reserve System is unconstitutional to begin with because the Constitution gives the power to coin and regulate money to Congress and Congress alon. The Constitution says nothing about allowing Congress to delegate the monetary power to a private banking cartel(i.e. the Federal Reserve).
22 September, 2008 at 12:06 am
The pain brought to you by the filthy fucking JEWS!