A History of Money and Banking Part 1: Before the 20th Century

A History of Money and Banking in the United States
Part 1: Before the 20th Century
Written by Murray N. Rothbard

[Avrdatasme]

Truly grateful that you uploaded this. This is a very important topic that every young person should study. The one take-away I would add is to complement viewing this podcast (even better, read Rothbard’s book) with viewing/reading Goodson’s “A History of Central Banking and the Enslavement of Mankind” and Bill Still’s “ Money Masters”.

[dpdystro]

I finished half of this then had to put my 10-yr old to bed. So I used it for story time. He couldn’t sleep he was so excited. We learned the concept of exchange and value.

[jameskrueger]

This should be mandatory in public school systems.
This would cure the plague of the dumbing down of American citizens, and the systemic and ongoing issues that follow suit.
Thank you for your work, a true gem

[songnian]

I started watching this, then thought to myself: I should find a more reliable source to learn about this. Started searching for some books, chose one, thought: I should make an audiobook of this. Then come back here and see this is exactly what you have already done xD Well done!

[travissmith]

Finally! I watched these videos years ago, the explanation & thoroughness amazed. I have recommended them to many. I have never found them again, till now.

[JK-trmt]

Brilliant. Big thanks. Just what I was looking for, and in-depth political and banking history of the USA, to teach the background to how the world of politics and banking works today. It would be useful to provide an index of the sections by time in this presentation.

[themilitanthipster]

I thank you for this. Amazingly thorough and well put together.

[majesticthirteen]

Thank you for posting this. It really shines a light on how far we've slid into oblivion today.

[GoodWoman]

Fascinating. Next topic….which families were involved, especially in New England. Also different topic but in need of similar analysis: which families were funding earliest English, Spanish, French and Portuguese American exploration and eventual colonization? Banks, corporations, charters, courts…..all run by people so using modern big data analytics we should be able to identify through lines and interests….at least worth considering.

[CPHSDC]

I am indebted to the succinct presentation.

[silverrose]

So important for the children to know . I am sending it to my boys so they can understand that I am not nuts ! Thanks 🙏

[Roylamx]

There is a lot of confusion in the world today around money. We have forgotten what honest money is, probably by design.
At 31:20 he begins an excellent explanation of the United States bi-metallic coinage, giving a description of the reasons for the Coinage Act of 1792, including an explanation of how coins were freely minted: '...anyone could bring gold or silver bullion to the mint to be coined.' A dollar being defined as either 371.25 grains pure silver, a "Silver Dollar", or 24.75 grains of pure gold, fixing the ratio at 15 grains pure silver to 1 grain of gold as that is what was in the market at that time. But as the amount of silver being mined was greater than gold the ratio needed to adjust accordingly but wasn't, causing many problems.
When we come to our senses and return as a nation to honest money we can remedy this problem by allowing the ratio of gold to silver to be determined by the market by not setting a numeric value on gold, just letting it float relative to silver, thus crushing Gresham's Law as he explains at 49:00.

[artemisarrow]

I ADORE long documentary thank you so much for this

[Bigboinkies]

You explain it so dam clearly! Thank you so much. Better than my history textbook.

[Tampa]

Dam just what i was looking for but didn't know it. Financial History. Seems impossible to find stuff like this anywhere. What you do find is usually just a slick advert to buy gold coins.

[bennconner]

Most central banks are privately owned institutions that overate independently from the government. Back then bankers liked the gold standard because gold is relatively easy to monopolise and control. Then through the process of fractional reserve banking they can lead out more gold than they actually have, making an absolute fortune.

[WilliamPKittredgePhD]

Do you have citations for this work? I’d like to use in my MS and PhD public finance classes but will need to check citations so administration will not undermine me.

[boodle]

Let me save u some time:
1) Don’t trust fiat currency
2) Don’t trust your government
3) Don’t trust your bank
You’re welcome

[rubenjames]

This is more interesting than I would have thought. Not surprising, I guess, given that "follow the money" is always going to be where the action is in a Capitalist system.

[erniejohnson]

A half hour into it and no mention of Colonial Scripp