04/17 Prof. A. Fekete: The Ignored Anniversary
This is the forth video (just 5 minutes long) from Professor Fekete in a series of 17 short videos.
(Here is the link to the 1st video: Prof. Antal Fekete: The Banking System – Episode 01/17 and 2nd video: Prof. Antal Fekete: Money creation – Episode 03/17)
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 brief video the Professor covers the ignored anniversary (somewhat timely while we watch the Commonwealth Games here in NZ):
- Why the organisers removed the gold content from the Olympic Medal in 1912 – 2 years before World War 1
- How the central bank planners set about removing gold from the economic system a year before the Federal Reserve was created?
- The significance of another ignored anniversary in 1909 when legal tender bank notes were introduced by first France and then Germany and this was done because the politicians knew war was inevitable.
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.
See www.professorfekete.com for more.
Here’s some other recommended articles we’ve featured from the Professor in the past:
Also check out the “Related Posts” just below for even more.