08/17 Prof. A. Fekete: Self-liquidating credit
This is the eighth video (7 minutes long) from Professor Fekete in a series of 17 short videos.
(Here are links to the previous videos:
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 part of economics has been eliminated by mainstream economics.
– What is self liquidating credit?
– What is the source of self liquidating credit?
– Where is the origin of self liquidating credit?
– How international trade up to 1914 used self liquidating credit and was financed by real bills with negligible unemployment.
– When was self liquidating credit wiped out?
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.