End the Fed? A Soho Forum Debate

Resolution: "Replacing the Federal Reserve with free-market institutions would significantly improve the economy's money, banking, and financial systems."
For the affirmative:
Lawrence H. White is Professor of Economics at George Mason University. His forthcoming book Better Money: Gold, Fiat, or Bitcoin? (Cambridge University Press, 2023) compares and contrasts alternative monetary standards. Best known for his work on market-based monetary systems, White is also author of Free Banking in Britain (1984; 2nd ed. 1995), Competition and Currency (1989), and The Theory of Monetary Institutions (1999), and co-editor of Renewing the Search for a Monetary Constitution (2015). His research has appeared in the American Economic Review, the Journal of Money, Credit, and Banking, the Economic History Review, and other leading economics journals. He is a Senior Fellow of the Cato Institute and a Distinguished Senior Fellow of the Mercatus Center.
For the negative:
Frederic Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at Columbia University’s Graduate School of Business. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System. Professor Mishkin's research focuses on monetary policy and its impact on financial markets and the aggregate economy.

[@EmpireOnTheDecline]

End The Fed

[@johnbuckner2828]

Audit the fed. We need a Federal Reserve Transparency Act to actually pass.

[@icancounto9994]

@@johnbuckner2828 No, just get rid of the federal reserve

[@smas3256]

@@icancounto9994 Back to gold and silver backing.

[@lukeasacher]

Just buy silver and move up here to NH. Free State Project wants YOU

[@LionMartell]

What most people don’t know is we did it before. Andrew Jackson destroyed the Central bank we originally had in 1835. It took them 76 years to wait for us to fall asleep and allow the 4th central bank. Yes, there were two others before 1835. They never stop trying.

[@Saltatory_]

The argument FOR the Fed seems to be "we like to be central bankers and we're learning all the time" which is hardly an argument. Any argument for granting government power should have a high bar for evidence that overcomes the obvious danger of centralizing power.

[@rexf5152]

it's convenient how Mishkin never mentions BCCI or bailing out banks, he'll talk about bolshevik banking without mention that the bolsheviks wouldn't have been there but for Wall St. Maybe if the Mishkins of the world would send their kids to fight for Zelenskyy instead of peddling arguments against a tangible standard

[@lukeasacher]

Bang on target. Case of beer for that one. :)

[@lukeasacher]

@@rexf5152 Mishkin... The Idiot? :)

[@daveconrad6562]

We like the power , please agree

[@TimDavisShow]

I'm doing a show tomorrow on this. kzbin.infoyCvP-UFlJG0?feature=shares

[@mafia_dave32]

If you pay back every dollar borrowed you still owe the interest . So it is impossible . That is slavery .

[@hunn20004]

Shame there isn't a way to turn labour into value. But you're not entirely wrong. It's slavery when the person you're paying your dept to is constantly printing money and devaluing your labor.

[@authenticallysuperficial9874]

​@hunn20004 Actually they would then be inflating your debt away for you, rather convenient. Still evil, still counterfeiting, but convenient for the debtor.

[@JonathanSchattke]

I'm not sure why the anti-fed person didn't hammer the Fed guy on the direct correlation between money printing and later price inflation, making essentially a tax on the poor.

[@ElasticGiraffe]

That's something the Fed does more than what the Fed is. Inflation can occur with or without the Fed, with or without central banking, with or without a fiat money supply.

[@JonathanSchattke]

@@ElasticGiraffe The only thing the Fed CAN do is inflate the money supply, it is literally their sole tool and only purpose to exist.

[@lundqvjrl9359]

@@ElasticGiraffe But can it? How can a currency linked to say gold spinn in to inflation? Any way it could happen as I see it would be if someone cornered the market and sold cheap or found a new huge deposit that floods the market?

[@JoeKazemi]

The pro-fed guy was so pointless really

[@makisxatzimixas2372]

​@@ElasticGiraffeInflation without printing means that you are poorer. I.e a physical catastrophe, and a bad crop. Things will get more expensive no matter what you do.

[@John-sx3mp]

The most unsatisfying thing about Mishkin's argument is that when he brought up pre-Fed crises, White was able to explain how a non-Fed world solved them, and when he brought up post-Fed crises, many had Fed fingerprints on them. But Mishkin could not explain why a non-Fed world could not have solved even one of those post-Fed crises. It was always, "The Fed poured money out and it could have been worse, so The Fed saved the world!" He even gave the Fed credit for preventing a crisis in 1987. By that same logic, I saved humankind four times last week. In the final analysis, I don't think Mishkin supported his point at all.

[@originalsinquirls1205]

wishful problem solving is taken as proof these days?

[@alclay8689]

Always grinds my gears no one gives me credit for saving a kids life by stopping a car before it hit them. Was I driving the car? yes. Was I irresponsibly speeding through an unfamiliar neighborhood? Yes. But I stopped the car damnit

[@AJdet-2]

Our founding fathers did not want a Federal Reserve or Central Bank. The biggest mistake our founding fathers ever made, was allowing for amendments to the Constitution, and not developing a procedure to enforce the Constitution upon the electorate

[@sakaue]

Out founding fathers were not unified in most issues. The first major political issue in our history as an independent nation with our current constitution was whether we should have a central bank or not. The Federalists (parent of the whigs, grand parent or great grabd parent of GOP) led by Alexander Hamilton were in favor of a federal bank, and the Democratic-Republicans (parent of democratic party and grand or great grand parent of GOP) were against the central bank.

[@AJdet-2]

@@mikes4142 I'm referring to a National Bank. There was great bickering over this subject in the Continental Congress. It ended up the treasury was in charge of making money with a backing based on commodities

[@SidewaysBurnouts]

ron paul had the right idea.

[@lukeasacher]

Still does! :)

[@DegreesOfThree]

You don't end the FED by whining about it. You end the FED by using an alternative form of money. Whether that's gold, crypto, or seashells, you better pick a medium of exchange, and be willing to trade your labor and resources for it.

[@tann_man]

That’s the dream of crypto. The tech advances and adoption increases until everyone realizes dollar bills not a good nor fair form of currency and it’s replaced by a better private crypto

[@therecyclingguy256]

Bitcoin over the lightning network looks to be a strong contender for the position.

[@DegreesOfThree]

@@therecyclingguy256 You're confusing Bitcoin with BTC. Bitcoin doesn't need middle men and second layer scaling solutions. BTC was artificially crippled by the 1MB block limit to make sure it is NEVER used as money.

[@Cody---]

@@therecyclingguy256 LN is terrible, use Monero or Bitcoin Cash

[@therecyclingguy256]

@@Cody--- How is LN terrible? If you run your own node....you should be fine.

[@abramgaller2037]

Monopolies unless bolstered by government agencies are either innocuous or short-lived.Government should not have any involvement in the economy ,including a central bank.

[@raystinsky]

If you've read Rothbard's history of money and banking, Mishkin's opening argument is painful.

[@usnbostx2]

Should have asked him about the Great Depression of 1921… I’m also curious how we survived 1907 without the Fed?

[@d3fec767]

A Clinton will be visiting you soon.

[@juanshaftpatel7488]

blacks were controlled back then... now they run around wild

[@rogerwelsh2335]

I can’t believe the things the guy for the Fed was saying. He easily opened himself up to fail but was not challenged. He literally made arguments that in essence were arguments against the Fed Of all of the debates on this show, this was the easiest to win

[@Ublwow]

think about it this way. in a free market everyone's decision equals an input while in a controlled economy a couple people set the rules for everyone. look at all the places where there is a controlled economy and you can see that there is always a black market. it is not that the free markets are the best, but they are the closest to the truth and peoples's interest and everything else aligns better than in a controlled economy.

[@xueueux]

Free market results in utopia of anarchy. Don't you see what resulted US economy now? "Free market" is what make US economy collapse. The current free market is economy controlled by capitalists. On the other hand, the real controlled economy is actually must be controlled by government. Why give to government? Because government will have the interest of the majority people, the real government will make sure to give benefits to the people so the people will not come back at them. If you think a real free market can be done without any controlled, you are crazy! You will just end up to bunch of crazies capitalising people with nothing interfere. So in the end people must choose do you rather to be controlled by your government or by the capitalists? I rather choose the first. I will be devastated if bunch of capitalists controlled me. They are psychopaths

[@DarkHorseSki]

The problem is that the Fed is NOT the lender of last resort. It is the main lender of all things.

[@jakelm4256]

Pretty bad debate. The affirmative had the easiest job in the world against this guy and still didn’t argue well.

[@jamesspurling5570]

The system we have gives the illusion of freedom but the reality of slavery. When you Give the power to the few (control of currency) you can control the many. When humanity loses its ego we will assend to a better life. If we had more compassion for our other fellow man we would all benefit. Be content with love, give it freely and you will reape the rewards. If every time one person helped another, if in return for that help you agree to help 3 other everything would be sorted.

[@daveconrad6562]

I'm with you man

[@karozans]

In a true free market, a monopoly is impossible. Even if a business or corporation is the only pIayer in the industry, they stiII are in indirect competition with everyone in the world. At any polnt in time, if the only business in an industry ralses prlces too hlgh, or lowers quallty too Iow, someone else wiII cr34te a business for direct competition. The only time you get a monopoly is when the government mak3es the ruIes.

[@saikgamingproductions]

not necessarily. take price gouging for example. I have my monopoly, but then you decide to open your store to compete with me. Now, I cut my prices until you can't compete and go out of business. Problem solved, competition gone, monopoly stabilized.

[@karozans]

@@saikgamingproductions What you described is not "price gouging". "Price gouging" is an em6tlonaI term that people use to describe Supply and Demand during a crlsls. In your example of undercvttlng, established businesses have far more overhead than startups. An established business could not just cvt their prlces in half for very long without major loses to their reserves and without risk of going out of business themselves. Furthermore, if customers saw that a the established business all of a sudden cvt prices in half, just to f6rce another business out, only to raise their prices again, they would get very angry and leave, or start up another business. For most customers, one chance is all you get.

[@karozans]

@@saikgamingproductions Furthermore, you asum that there wiII only ever be one business for competition, and you asum that the businesses created are only very smaII startups. There is no reason to believe that would be the case. How often do you thlnk a company could do what you said? When Microsoft created the Xbox to compete with Sony Playstation, why didn't Sony cvt the prices of Playstations to $10, to get Microsoft out of the business of making Xbox's? Microsoft is wrth 500 billion, and Sony is wrth 100 billion. Who would svrvlve?

[@saikgamingproductions]

@@karozans actually good point, is there a place you learned about monopolization from? that's always been my biggest confusion on how to assure competitiveness

[@saikgamingproductions]

@@karozans Frank Easterbrook also has an interest excerpt about this "Especially according to Easterbrook predatory pricing is rare, thus it should not be a central concern. Introducing laws for predation, especially because it is rare, could lead to generating false positive errors, which would interplay with the restriction of the rule. The main point within this argument is that government intervention is dispensable, as predation is unlikely to succeed, which creates a deterrent. This effect results by selling the products/services below the costs, which causes losses but without getting more market power. The market power doesn't increase in this case, because the market share holder weathers this predatory strategy. Thus, the firm punished itself by taking losses without gaining market. This is a deterrent for other firms. An additional argument against the implementation of rules is the inability of courts or competition authorities to differentiate predatory from competitive prices."

[@lacky9320]

Debate starts at 8:00.

[@jasons6754]

"COVID was a true act of God..." I've never heard anything more naive or funny..

[@rebusd]

One thing about cheat codes, whether on screen or in the economy; they're addictive. The historic fiscal windfalls and bull runs in the wake of any kind of decoupling of currency from commodity are hard to resist; the ensuing boom seems to have an almost psychotropic effect on public sentiment. The fiscal, in particular, gives the issuer of the new liquidity and their associates a dominant strategy for accumulation of real wealth and power.

[@roostercogburn7243]

"At least we're not all speaking German"

[@gspringellable]

We might of been better off, also our language is Germanic in it's origin.

[@BLINK4444]

The federal reserve is instrumental in a scenario where that might have been the reality.

[@Si_Mondo]

Was ist das?

[@Ichijoe2112]

HAHAHAHA Oh you sweet child. Have you never cast a weary eyebrow towards Europe? Have you never botherd to note the home of the Euro-Central Bank?

[@albionicamerican8806]

Obviously the Fed needs to issue publicly traded stock so that the market can judge how it is doing its job.

[@JoeKazemi]

Congress needs to frequently audit the fed

[@jackdelaney6633]

get rid of central banks.

[@rstous7691]

Is it possible get a transcript?

[@Guti3737]

I enjoyed the Civil War background on banking. Banks had to issue union debt. Thus, shifted the risk.

[@johnl5316]

Yes. The war no one wanted, North or South, except Lincoln who imprisoned political opponents and kept them imprisoned without habeas corpus

[@speakout9989]

The federal reserve has created more billionairs and eroded the middle class. It has created a debt based economy where we have to go further into debt in order to keep this gravy train going. How is it a good thing?

[@socratesagain7822]

Actually, trickle-down Reaganomics gave us the billionaire class thanks to the gradual lowering of taxes to the point where massive deficits arose and the middle and lower classes pay them off. As a result, a massive transfer of wealth from the middle class to the 1%. During tfg's reign, billionaires got another 2 trillion (yes, with a T) dollar tax break. Guess who will make up that deficit, yet again? Hence, the Fed's inflationary policy, to depreciate every working person's income... Be well.

[@jajordan2106]

blame congress

[@tcell9151]

😳 im shocked this being discussed 💪🙏

[@daveconrad6562]

Right?

[@io3213]

Why on earth would both of these debaters agree that the purchasing power of money needs to be stabilized? The reason gold's purchasing power increased over time is NOT that gold somehow became _better_ or more efficient. When money appreciates it is because of, and in proportion with the increase in production efficiency, or _economic progress._ The fact that gold's supply has some elasticity to demand is a handicap not an advantage. Gold just happens to be the least elastic of all (until Bitcoin). Otherwise, if elasticity was a plus for money, then copper or aluminum would have turned out to be better money than gold. When a money that has a fixed, inelastic supply appreciates against other goods (deflation), it is simply prices translating the fact that humanity is getting smarter at producing and supplying things that humans demand. There is no good reason for increasing the money supply as productivity increases, other than some irrational fear of falling prices. For a good money, the entire supply consists of arbitrarily divisible units. Therefore it is a mistake to think that, as the number of available goods increases thanks to economic progress, the supply of money should have to follow. In fact gold became money precisely _because_ of its inelasticity relative to other metals and commodities.

[@CypherHive]

👆This!

[@spencerantoniomarlen-starr3069]

Great debate!

[@chrisd13086]

There is absolutely no such thing as a free market.

[@mac6452]

1 reason the Fed needs to go is it cant even adhear to its mandate. Stable currency with 2% tax inflation.

[@Edisius95]

We never had the Federal Reaerve before 1913. Along with the creation of that, came income taxes. Whatever happened to "no taxation without representation"? I'll tell you what happened: people in 1913 stopped paying attention and forgot their history. In particular, the Boston Tea Party. They were able to slide it by because of this. Centralized banking represents one of the greatest threats to our republic. Burn the banks (metaphorically speaking)!

[@socratesagain7822]

Someone had to pay the anticipated WW1. We, taxpayers, lent billions to the Brits in their empire's fight against the German empire. When the Brits began to lose we entered the war to make sure we got that loan repaid... Once war profiteers decided wars were profitable Wall Street created enemies everywhere. Our taxes, the MIC's profit. Be well.

[@silvertrain57]

The Federal Reserve Act is merely an arm of the central banking cabal/system used to dig deep into the American tax payer's pocket via sales, property, inheritance, gift, estate, and worst of all income tax...which btw was never passed to be enacted, plus a few more. Unfortunately, most everyone still can't see this is nothing more than a well-oiled money laundering machine. We've all been bamboozled on a vast, monumental scale...which clashes with most American's belief system of our govern(control)ment(mind). Think cognitive dissonance. I know, I'm just spitting in the wind to most, but I'm too damn old to care anymore. Cheers🤑

[@socratesagain7822]

Tragically, the People got conned in 1913 into enacting a Constitutional _amendment_ (what eleventh hour arm-twisting actually got it enacted remains shrouded in mystery...), enslaving us all to our US Congress: it borrows at will, the rest of us get stuck with the bill plus _interest_ ... And, just in time to "join" WW1 a boon to the MIC and the growing cartels of the period. Thanks for nothing, Woodrow Wilson. Be well.

[@sspbrazil]

This debate needs Yanis Varoufakis, he would put both these guys to shame.

[@I-am-not-a-number]

Hawala is the Indian system of transferring gold and cash internationally.

[@lojothrasher5709]

What branch of the federal government has shareholders how many Fiat currencies have there been have any been successful

[@bjabbott8717]

Make an argument for a foreign, private bank that is allowed to print US currency with interest, creating an endless cycle of inflation and debt which can never possibly be repaid.

[@lrlimits]

I heard that there isn't enough gold in the world to back the currencies. Does anyone have any information information about that? Tia

[@chriscoster4436]

The Fed is a private central bank, beholden to themselves. They should not be the standard of argument for regulated financial controls.

[@partydean17]

Who pays their salary?

[@lukeasacher]

Why did no one mention the Depression of 1920-21? Calling Jim Grant, Calling Tom Woods

[@jax46]

Hell yeah, END THE FED NOW!

[@steelep5623]

If the fed issued a dollar for every time this guy said "uh" we'd have yet another financial crisis

[@theseustoo]

You notice, uh, that no-one, uh, has uh, mentioned uh, inflation, uh... Nor, uh, where it, uh, comes from, uh... ;) (At least, not by the 47 minute mark... which is past half-way... Seems the 'I' word is a dirty word in this debate... I suppose it'll have to at least get a brief mention at some stage during this debate, if only for the sake of form... though the contrary somehow wouldn't surprise me either. I doubt the Fed would relish having to own up to being the real cause of inflation!)

[@stewartmarques1485]

rothschild anyone? It is private and it doesn't work...

[@bellakrinkle9381]

The FED is a private organization, why isn't it disbanned?

[@LionMartell]

Congress and Woodrow Wilson delegated their responsibility to coin our currency when they passed 16th amendment/Federal Reserve act.

[@JoeKazemi]

Watching this entire debate with an open mind makes me totally FOR END THE FED

[@lemonstealinghorsdoeuvre]

45:32 he said poop 🍑💨💩 Don't sa "they do do" say "they do." You never have to say "do" twice in a row

[@jakelm4256]

Larry incorrectly thinks supply *needs* to fluctuate as if there’s a right amount of money

[@John-sx3mp]

If you're against some policies then money does matter in some way. Stable prices are good, so that we can plan and invest. The market-based monies that White favors yield stable prices.

[@OrthoHoppean]

There is no "right amount of money" for all times and places. That's why there's a need for the market process so that there is always a push towards the "right amount of money" without actually ever achieving it.

[@jakelm4256]

@@John-sx3mp “stable prices” as a result of injecting liquidity for the purpose of that is completely unnecessary for planning and investing. In fact, it’s very harmful to distort those dynamic price signals.

[@BLINK4444]

I'd prefer a currency that appreciates in value at irregular intervals over a currency that constantly loses value. Being able to occasionally spend less on coffee, food, gas and rent seems like a benefit to me.

[@christiansmith8529]

@@BLINK4444 I thought about that for a few years and came to the conclusion that it would stagnate markets as well as innovation. With a deflationary currency hoarding capital is inherently encouraged rather than investment.

[@Laszlo34]

OMG Frederic, you really, REALLY need-need-need to practice pivoting the microphone with your head movements! Aside from said technical issues, good debate.

[@Blkglssjw]

If only Murray Rothbard were still here

[@indigo0086]

Money is tied to what people are willing to trade their time for

[@FT4Freedom]

End the damn income tax act, too.

[@authenticallysuperficial9874]

1:24:10 Actually the seatbelt case has been studied and the moral hazard theory confirmed.

[@Mocoso7]

A: Yes. NeXxt QuestioN ¿?

[@albionicamerican8806]

Restoring the gold standard is a nonstarter. Right now about 200 million Americans don't have enough fiat dollars to pay their bills; but they certainly don't have enough gold to pay those bills, either. A restored gold standard would still leave a majority of the nation's population impoverished.

[@magamimi319]

Not to mention Nixon sent most of our gold to foreign nations in the 70s after taking us off the gold standard. Gold is being hoarded by the same people who helped implement the FED. it really isn’t an option anymore.

[@rust86]

Is the guy defending the Fed pretending not to be a statist or not know that he's a statist?

[@lukeasacher]

Dr. White is the GOAT IMHO, and GENE is the GOAT'S GOAT. Can't wait to hang with him again at Porcfest in June- anyone reading this, please come on up to Free State NH- you won't want to go home. Best wishes to all.

[@charlie-km1et]

The debate is easy. There is no debate. Spending tax payer money at this level is way outside what is “necessary”. $31 Trillion in debt seems a bit overextended and for what exactly? The justification does not meet a basic threshold of tax payers collectively benefiting.

[@missmaggie5509]

The Fed must end.

[@fwendlyb1351]

the FED IS!! the (endgame) free market

[@2marro600]

He really didn’t give a good rebuttal to this at all

[@daveconrad6562]

What would happen if the fed was audited?

[@Jdjsksjdhdj]

So stoicism and cynicism were ancient greek anarchists movements credited with early libertarianism. Those groups went on to become the first Christians. Christians brought us the printing press. That help ignight revolutions like the revolutionary war and then the industrial revolution withch brought us electricity and eventually the internet. Stoics and cynics inspired ancient and other philosophers all thru out history. So anarchism helped create these things thru a butterfly affect. no war but class war.

[@sebastiansirvas1530]

42:20 But the difference between the target inflation and what actually ends up happening (brrr) puts a really small minority (those that know what will actually happen regarding inflation, disregarding the nominal target) in a position ripe for abuse (and the rest with not many alternatives). Even if the better performance was conceded, would it be worth imposing such a vulnerability upon the system (besides the credibility and propaganda issues that might arise)?

[@eightpoint58]

It's to bad that we haven't developed an energy stick that runs our cars with a meter that shows how much fuel is still in it, then it would be the functional currency that everyone would trade in

[@chicago618]

59:20 G-d dammit, say excuse me Gene!!

[@apexhacker346]

NO. The human element is too unpredictable. I rather keep the FED where there are tools in place in case. I do not trust a multitude of hedge funds having absolute control over our economic system.

[@raystinsky]

Ayn Rand wasn't a libertarian.

[@FT4Freedom]

Hey man. The debate is over. END THE FED SLAVERY ACT.

[@RabbiTzviHirshGoldstein]

I see two debating against the Fed

[@originalsinquirls1205]

i hate when youtube recommends me this sort of thing.

[@eanerickson8915]

Bitcoin needs credit markets.

[@ccmusic2249]

Yes, end it.

[@faresBtoush1990]

"money is a private good" ok I'm out

[@reich5150]

What do you replace a forest fire with? 🤔Nothing! you put out the fire if possible and be moar careful not to allow idiots to play with fire in the future.

[@acctsys]

The fed argues the asymmetry of information between banks and clients, but the fed itself by its very existence creates another asymmetry that connects politics to economics. An environment of moral hazard is not one where the fed will learn how to keep a national currency stable. Rather, the privatization of gains, and socialism of losses only sets up incentives to expand the asymmetry of information between the fed, the politicians and the banks, and the common man. Compare that to one where if you make a mistake, you'll pay for it, therefore, you are incentivized as a client to do your due diligence, and as a banker to improve risk management. There's no valid argument for not letting adults handle their money. Politics smears anything it touches. It shouldn't rule something as pervasive as money. On the other hand, the fed is a cat out of the bag. The hope is in crypto and related technology to make the next leap in currency to break the value of the security theater that the fed provides. What people should violently oppose is further expansion of the fed, and banning the use of currencies other than the fiat it provides, or more broadly, setup impediments to holding other asset classes to artificially increase the value of the fiat. It's a shame real property wasn't included as a possible standard or at least index of price stability over the long term.

[@JonathanSchattke]

really bad audio levels.

[@cozyandahalle]

It is either, end of the Fed or end the dollar.

[@system2thinker659]

Get the audiobook version of, "The creature from Jekyll island." You'll be blown away by how evil the FED actually is. I swear to this day that the movie The Matrix was written after the FED. One example, Andrew Jackson was the fiercest opponent of a central bank, fast forward to today, and they print his face on the $20 bill! What a slap in the face.

[@hunn20004]

36:00 If the fed knows what it does then it'll function very well If only they knew every single thing about the market. Like your sudden and unexpected cravings for chips or sweets.

[@abramgaller2037]

If anyone can even on a theoretical level completely understand a market, it would be at most a simulacrum of a market.

[@FT4Freedom]

Americans should be particularly concerned about ending their own slavery. Stick to the Constitution. The People should manage the money. Banking is slavery.

[@johnl5316]

NASSIM NICHOLAS TALEB has written about this

[@johnl5316]

Is bi-metalism better than bi-sexuality?

[@hunn20004]

The second speaker is right. A person will only be afraid for their wellbeing in short term... If they can't afford to be afraid of the long term. If you don't have savings, then of course you'll be more concerned about what's coming 3 months down the line

[@John-sx3mp]

If people don't know what things will be like in 3 years, then they won't build projects that pay off in the future. Not a lot of projects pay off in three months.

[@replynotificationsdisabled]

WEF convention Trump?

[@douglastaylor43]

Bitcoin is the future

[@Ichijoe2112]

Bitcoin is dead, and Etherium may, as well be now you can't mine it on a reassuringly expensive nVidia Graphics Card anymore.

[@fedbia2003]

Lmao, no.

[@mammaliandischarger]

Better than I thought. Libertarians might unite with the real left and we could have a chance.

[@tann_man]

The left?

[@saikgamingproductions]

@@tann_man socially i assume?

[@icancounto9994]

What are you talking about? Progressive support central bank, they need currency printing to support their social programs.

[@tann_man]

​@@saikgamingproductions I've always hated that dichotomy. You might call me 'socially conservative' as I'd agree most conservative values are necessary for a healthy society, but I'm also not 'politically socially conservative' bc using violence to enforce such a society is immoral and doesn't work.

[@Si_Mondo]

What "left" are you on about? Marx loved central banking, so it can't be any of his disciples.

[@TheMABExperience]

🪙💯💪🏾

[@groovy56]

Regardless, all economic markers like inflation, and gas and food prices etc. were way better under Trumps policies.

[@lojothrasher5709]

This is the most insulting video I've ever seen shame on both of you To my mind This was a missed opportunity this is how nothing gets done people please try & do your on thinking

[@aslkdjfzxcv9779]

end the u.s.

[@111CREWGO69ZEHZ]

Old white guys

[@Ichijoe2112]

Never thought I'd ever agree but, yes Old white J--ish Banksters are indeed oh so boring. We need to replace them with a diverse set of Twikerbells, Cat Ladies,nand the Homeless. I'd imagine that working about as well as a subversive dive, on a certain Shipwreck, which was carrying persons who had the survived that event, would have prevented Jekyll Island from ever happening.

[@coopsnz1]

End goveenment & taxes