What is Money?
Mike and David discuss the types of Money and then delve into the strange world of fractional reserve banking where wealth, it is claimed, can spontaneously spring into existence from the void. Government money printing and real silver and gold coins are examined and the true scale of loss of value to inflation is identified.
They then return to the bizarre world of fractional reserve commercial banks and debt-based money generation and consider what exactly happens when you borrow money to buy a Jaguar. Bank runs, inflation, boom and bust, central banking and the funding of wars all make in appearance in this wide-ranging conversation.
As they draw to a close, the key benefit of silver and gold as currency is seen to be as much political as economic.