We’ve learnt a great deal from the Professor since first seeing him in Canberra back in 2009. And so we’ve featured much of the Professors writings, theories and interviews since then. These short videos are perhaps the most accessible we’ve seen of his work and so are highly recommended for those both new to the realm of the monetary metals, as well as those who have “been around the block”.
In this video the professor covers:
– What was the tragic event that happened between the 2 world wars; that being the destruction of the wage fund.
– What is the bill market and why the gold standard was impotent without it?
– What is the wage fund and why was it destroyed by economists?
– Why did Britain remove real bill circulation?
– Why was multi-lateral trade eliminated and replaced with bi-lateral trade?
Professor Antal Fekete is a proponent of the gold standard and an outspoken critic of the monetary system based on irredeemable currency. His work falls into the school of free-market economic thought inspired by Carl Menger. He claims that his theory of interest is an extension of Menger’s work, who championed the theory of direct exchange morphing into indirect exchange. In the same way Professor Fekete is championing the theory of direct conversion of income into wealth and wealth into income (read: gold hoarding and dishoarding) morphing into indirect conversion (read: selling and buying gold bonds). Professor Antal Fekete is an advocate of Adam Smith’s Real Bills Doctrine that he calls the Gold Bills Doctrine.