10/17 Prof. A. Fekete: The real cause of unemployment
This is the tenth video (5 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:
– Why history repeats itself – with a repeat of the financial crisis of 2008 on its way.
– How the blocking of gold coins returning to circulation is the real cause of unemployment.
– What is the cycle of adding gold coins back into circulation?
– How the gold standard disappeared in 1971 and since that time there has been an explosion of paper money that will lead to collapse.
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.