Huerta de Soto 10: Changing the monetary system
Description
Watch the whole 1:06 minute presentation at http://www.goldmoney.com/huerta-de-soto-presentation. In this tenth and final video, Jesús Huerta de Soto, Professor of Political Economy at Rey Juan Carlos University, Madrid, (http://www.urjc.es/) argues that the European response to the financial crisis is preferable to the wildly expansionary policies chosen by the United States. Huerta de Soto argues that for this reason, he is more optimistic about the euro than the dollar. He is a strong believer in the mercy of God, but with an exception for Alan Greenspan. Three key measures are needed to improve our financial system. First, Peel’s Bank Act needs to be completed which means a 100% reserve is required for demand deposits. Second, central banks need to be abolished. And lastly, the issuance of money should be privatised, leading to a free gold standard.
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