Today we will be talking about what government has done with our money. Or better yet, the book: What Has Government Done To Our Money by Murray Rothbard. And, the reason I want to talk about this today is because I think it gives us a good basis and a good understanding of how to understand money at the basic level and how that interact our government. We have a lot of problems with money, and I think this book can help us fix them.
I’m reading another book right now on Abraham Lincoln and why he may not have been such a great president, actually. The author brings up some good points about problems with nationalized banking and some of the other policies that the Whig Party, and then the Republican Party, took on that were very problematic and terrible ideas. We have this sense of money that is wildly incorrect, and that’s what I want to talk about today. You should read this book to straighten out your understanding of the concept of money. Plus, it’ll help elucidate the problems with money we face as a country.
Quote of the Week
"Few economic subjects are more tangled, more confused than money."-Murray Rothbard
I think that's really what the crux of this whole issue is - that it's so confusing, so tangled. We don't know how to classify this asset, and yet we use it daily. We understand how to interact with it in so many ways at a personal level. But we don't necessarily, when it gets into the macro monetary policy, understand things like what the Federal Reserve doing. How does that all work? That's where it gets very confusing, very muddled, and it becomes very easy for people who are in power to utilize that confusion in their favor. And, I think they do that a lot. Grab your copy here to learn about what government did to our money>>
Problems With Money
I've talked about this problem in the past in another episode that through inflation and other monetary policies that we have, an oligarchy or an elite group of people get first access to the money, and therefore, have the most power in our economy.
And so, that's why I think it's such an important read: money is a huge means of control. If there are people who are able to get first access and priority access to the money supply, they can influence economies. Especially because we see a democratization happening right now with the GameStonk thing and everything going on in politics.
They're pushing back against this institutional money that has the advantage in the market because they're close to power. And they are the ones who are nestled up and get the first, access to loans and cash flow.
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What Has Government Done to Our Money Is a Must-read
Rothbard is such a clear thinker that it's very easy to follow his ideas, even if you knew nothing about money coming into this book. I think you will walk away understanding money and how money works much better. You'll understand how money is the same and how it might be different from other assets and other types of property or possessions.
Luckily, you don't have to be an economist to understand this book. In fact, it's incredibly well-written and simplified for the laymen. Instead of diving into all the mathematical proofs, Rothbard offers relatable, real-world examples to explain his ideas. So, if you'd like to dive deeper, grab your copy here.