The Origin and Nature of Money | Murray N. Rothbard

I hope the Penguin gets to finish his lecture series before Bats crashes the party.

Love Rothbard btw.

Well we are experiencing bitcoin first hand =)

Monetary “cranks”. The way he said that the first time.

U could probably get a sandwich for 3 seconds of an eleizabeth warren lecture.

I love listening to Rothbard's lectures. His books are great too.

Central banking is grand scale theft

Very relevant to why Bitcoin Cash works better as money than Bitcoin BTC.

This is utter nonsense

im so grateful to have found this channel. iv always watched old videos of Austrian economist but could not find a page dedicated to it that uploaded regularly. I had no idea the mises institute existed. so great

Came for the Rothbard, stayed for the flopperoos

I do think free markets are better than govt intervention but I can't answer this question from my friend. He says, "I agree government enterprise is inefficient than private enterprise. But what is wrong if government taxes middle class and rich to provide affordable things for poor like education and health, even if it is inefficient? If you remove so-called inefficient government programs, the poor wouldn't be able to afford basic necessities." What is wrong with that line of thinking? How would Murray Rothbard respond?

"Legal monopoly on the counterfeiting function." One sentence explains how the MMT idiots & Fed Bank are stealing value from us in a unprecedented way in 2020.

I would love to hear Rothbard's take on Bitcoin.

i dont get the red crayon joke

His point on the cigarette pricing / bartering (also true in prisons) is a good example that the medium of exchange MUST IN ITSELF BE SCARCE and BE OF VALUE. (The two often go hand in hand. Scarcity causes Value )
Too many total cigarettes lowers the worth of a single cigarette and hence price inflation.

Rothbard's Ghost: "STAAAAAACK THOSE SAAAAAATS! STAAAAAACK THOSE SAAAAAATS OR SUFFER MY CURSE!"

All War is Evil
No More War

The country where barter was the common trade means was never found. Meaning barter was never the main means of economic activity.
David graeber explains this very well.

Ah, and now there's Bitcoin. And even if the public is used to dollars, the world wide adoption of Bitcoin in a small percentage of the population along with its rise in value due to its scarcity will eventually lead it to be the new evolution of money worldwide. Let's see what happens 5 years from now!

Satoshi listened to this lecture.

Denationalize the dollar and allow money to compete freely on the market