Prof. Antal Fekete: The Banking System – Episode 01/17

This is the first video (just 8 minutes long) from Professor Fekete in a series of 17 short videos.

We’ve featured much of the Professors writings, theories and interviews over the years. Sometimes his more “scholarly” work can be a bit hard to digest for the lay person. But these short videos are likely the most accessible we’ve seen.

In this video Professor Fekete covers the banking system including:

  • Why money should not be a tool of plundering in the hands of the Govt.
  • How the banking system of the whole world is practically insolvent.
  • Why the International Monetary System will unravel.
  • How the public is completely unaware of how unstable the whole system is.
  • How the pension funds are more insolvent than the banks.
  • Why the central planners and central bankers have been terrible guardians of savings of the people.
  • How the only insurance against central planners and central bankers embezzling your wealth, savings and loss of pension is gold and silver hoarding.

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 http://www.professorfekete.com for more.

Here’s some other recommended articles we’ve featured from the Professor in the past:

Prof Fekete | 140 years of silver volatility

Prof Fekete: Why the Chinese Government is urging its people to buy gold and silver

Antal Fekete: Gold Backwardation and the Collapse of the Tacoma Bridge

Prof Fekete on Gold’s Fall: Who Said the Hydra Would Take it Lying Down?

Also check out the “Related Posts” just below for even more.

 

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