Money, Banking and the Federal Reserve vs Austrian School begins in the fifteenth century

Money, Banking and the Federal Reserve vs Austrian School begins in the fifteenth century
Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary new film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority.

Alan Greenspan is not, we're told, happy about this 42-minute blockbuster। Watch it, and you'll understand why. This is economics and history as they are meant to be: fascinating, informative, and motivating. This movie could change America.

http://www.youtube.com/watch?v=iYZM58dulPE


Everyone carries a part of society on his shoulders," wrote Ludwig von Mises, "no one is relieved of his share of responsibility by others. And no one can find a safe way for himself if society is sweeping towards destruction. Therefore everyone, in his own interest, must thrust himself vigorously into the intellectual battle."
It is the mission of the Mises Institute to restore a high place for theory in economics and the social sciences, encourage a revival of critical historical research, and draw attention to neglected traditions in Western philosophy. In this cause, the Mises Institute works to advance the Austrian School of economics and the Misesian tradition, and, in application, defends the market economy, private property, sound money, and peaceful international relations, while opposing government intervention as economically and socially destructive.

What is Austrian Economics?(essay in pdf)
The Austrian School
The story of the Austrian School begins in the fifteenth century, when the followers of St. Thomas Aquinas, writing and teaching at the University of Salamanca in Spain, sought to explain the full range of human action and social organization.
These Late Scholastics observed the existence of economic law, inexorable forces of cause and effect that operate very much as other natural laws. Over the course of several generations, they discovered and explained the laws of supply and demand, the cause of inflation, the operation of foreign exchange rates, and the subjective nature of economic value--all reasons Joseph Schumpeter celebrated them as the first real economists.

http://mises.org/about/3223

http://mises.org/




Money, Banking and the Federal Reserve


http://www.youtube.com/watch?v=iYZM58dulPE



http://freedocumentary.com/film.php?id=243



additional link from my blog

http://polandiraq.blogspot.com/search?q=federal



Corrupt Federal Reserve - Robbing Americans Since 1913


Greenspan's shock: oil behind Iraq invasionEmail Print Normal font Large font Jeannine Aversa and Ann Sanner WashingtonSeptember 17, 2007Former Federal Reserve Board Chairman Alan Greenspan.Photo: J. Scott ApplewhiteAdvertisementAdvertisementTHE US went to war in Iraq motivated largely by oil, former US Federal Reserve chairman Alan Greenspan says in a memoir to be released today."I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil," he writes.Mr Greenspan's book The Age of Turbulence: Adventures in a New World also criticises President George Bush for not responsibly handling the nation's spending and racking up big budget deficits.The 81-year-old, a lifelong Republican, claims Mr Bush has abandoned fiscal discipline and put politics ahead of economics.Denouncing the tax cuts brought in by Mr Bush, Mr Greenspan says the Republicans deserved to lose the congressional elections last November because they abandoned fiscal discipline and hugely swelled the US budget deficit.He says he was surprised Mr Bush was unwilling to temper his campaign promises with fiscal reality once elected in 2000, as previous Republican administrations had done."Little value was placed on rigorous economic policy debate or the weighing of long-term consequences," he says.Mr Greenspan built his reputation with his calm handling of the stockmarket crash of 1987, the 1997-98 Asian and Russian financial crises, and the economic turbulence that followed the September 11, 2001, attacks on the US.But he has also come under fire for policies that some say led to bubbles in technology and housing. His successor, Ben Bernanke, is coping with a prolonged housing downturn and credit-market turbulence. Mr Greenspan's long association with Republican administrations and his reputation for independence add clout to his criticism. He ran the Fed for 18½ years and was the second-longest-serving chief. He writes that he laments the loss of fiscal discipline.Mr Bush took office in 2001, the last time the Government produced a budget surplus. In 2004, the deficit was a record $US413 billion ($A490 billion). "The Republicans in Congress lost their way," Greenspan writes. "They swapped principle for power. They ended up with neither. They deserved to lose."The White House defended its fiscal policies. "Clearly those tax cuts proved to be the right medicine for an ailing economy," spokesman Tony Fratto said."Tax cuts contributed a portion to early deficits, but … accelerated growth over time, leading to increased business activity, increased job growth and increased tax receipts, which today have us at low historic deficit levels and on a path to a surplus."On the spending side, Mr Fratto said: "We're not going to apologise for increased spending to protect our national security."

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