Podcasts about second bank

In Episode 406 of Hidden Forces, Demetri Kofinas speaks with renowned geopolitical analyst and forecaster George Friedman about the pivotal institutional and socioeconomic cycles that shape historical events—and how their convergence is driving the economic and political crises of the 2020s. George and Demetri examine critical turning points in American history, including Andrew Jackson's abolition of the Second Bank of the United States (which financed westward expansion), the presidency of Rutherford B. Hayes (and the Long Depression), the consumer-driven growth wave following FDR's 1930s reforms, and the neoliberal era sparked by the Reagan Revolution. In the second hour, Friedman and Kofinas apply this framework to the era we are living in today, which according to George, is the first time in American history that both the 80-year institutional cycle and 50-year socioeconomic cycle are occurring concurrently. They discuss how (and why) so-called “woke ideology” and a sclerotic and ineffective bureaucracy are symptoms of the end of the institutional cycle and why the economic policies of this new era will lead to more capital investment and a revitalization of the American economy. Lastly, George provides listeners with a roadmap for geopolitical events in the 21st century that includes reconciliation with Putin's Russia, a new paradigm of peace in the middle east, and a long and challenging period of economic weakness in China that will consume the energies of the Chinese communist party and challenge the PRC's ability to assert itself on the global stage for at least the next several decades. Subscribe to our premium content—including our premium feed, episode transcripts, and Intelligence Reports—by visiting HiddenForces.io/subscribe. If you'd like to join the conversation and become a member of the Hidden Forces Genius community—with benefits like Q&A calls with guests, exclusive research and analysis, in-person events, and dinners—you can also sign up on our subscriber page at HiddenForces.io/subscribe. If you enjoyed today's episode of Hidden Forces, please support the show by: Subscribing on Apple Podcasts, YouTube, Spotify, Stitcher, SoundCloud, CastBox, or via our RSS Feed Writing us a review on Apple Podcasts & Spotify Joining our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe and support the podcast at https://hiddenforces.io. Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 03/17/2025

fWotD Episode 2860: James Madison Welcome to Featured Wiki of the Day, your daily dose of knowledge from Wikipedia’s finest articles.The featured article for Tuesday, 4 March 2025 is James Madison.James Madison (March 16, 1751 [O. S. March 5, 1750] – June 28, 1836) was an American statesman, diplomat, and Founding Father who served as the fourth president of the United States from 1809 to 1817. Madison was popularly acclaimed the "Father of the Constitution" for his pivotal role in drafting and promoting the Constitution of the United States and the Bill of Rights.Madison was born into a prominent slave-owning planter family in Virginia. In 1774, strongly opposed to British taxation, Madison joined with the Patriots. He was a member of the Virginia House of Delegates and the Continental Congress during and after the American Revolutionary War. Dissatisfied with the weak national government established by the Articles of Confederation, he helped organize the Constitutional Convention, which produced a new constitution designed to strengthen republican government against democratic assembly. Madison's Virginia Plan was the basis for the convention's deliberations. He became one of the leaders in the movement to ratify the Constitution and joined Alexander Hamilton and John Jay in writing The Federalist Papers, a series of pro-ratification essays that remain prominent among works of political science in American history. Madison emerged as an important leader in the House of Representatives and was a close adviser to President George Washington. During the early 1790s, Madison opposed the economic program and the accompanying centralization of power favored by Secretary of the Treasury Hamilton. Alongside Thomas Jefferson, he organized the Democratic–Republican Party in opposition to Hamilton's Federalist Party. Madison served as Jefferson's Secretary of State from 1801 to 1809, during which time he helped convince Jefferson to submit the Louisiana Purchase Treaty for approval by the Senate.Madison was elected president in 1808. Motivated by a desire to acquire land held by Britain, Spain, and Native Americans, and after diplomatic protests with a trade embargo failed to end British seizures of American-shipped goods, Madison led the United States into the War of 1812. Although the war ended inconclusively, many Americans viewed it as a successful "second war of independence" against Britain. Madison was re-elected in 1812. The war convinced Madison of the necessity of a stronger federal government. He presided over the creation of the Second Bank of the United States and the enactment of the protective Tariff of 1816. By treaty or through war, Native American tribes ceded 26 million acres (11 million ha) of land to the United States during Madison's presidency.Retiring from public office at the end of his presidency in 1817, Madison returned to his plantation, Montpelier, where he died in 1836. Madison was a slave owner; he freed one slave in 1783 to prevent a slave rebellion at Montpelier but did not free any in his will. Historians regard Madison as one of the most significant Founding Fathers of the United States, and have generally ranked him as an above-average president, although they are critical of his endorsement of slavery and his leadership during the War of 1812. Madison's name is commemorated in many landmarks across the nation, with prominent examples including Madison Square Garden, James Madison University, the James Madison Memorial Building, the capitol city of Wisconsin, and the USS James Madison.This recording reflects the Wikipedia text as of 00:07 UTC on Tuesday, 4 March 2025.For the full current version of the article, see James Madison on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm neural Kendra.

fWotD Episode 2817: Andrew Jackson Welcome to Featured Wiki of the Day, your daily dose of knowledge from Wikipedia’s finest articles.The featured article for Monday, 20 January 2025 is Andrew Jackson.Andrew Jackson (March 15, 1767 – June 8, 1845) was the seventh president of the United States, serving from 1829 to 1837. Before his presidency, he gained fame as a general in the U. S. Army and served in both houses of the U. S. Congress. Sometimes praised as an advocate for working Americans and for preserving the union of states, his political philosophy became the basis for the Democratic Party. Jackson has been criticized for his racist policies, particularly regarding Native Americans.Jackson was born in the colonial Carolinas before the American Revolutionary War. He became a frontier lawyer and married Rachel Donelson Robards. He briefly served in the U. S. House of Representatives and the U. S. Senate, representing Tennessee. After resigning, he served as a justice on the Tennessee Superior Court from 1798 until 1804. Jackson purchased a property later known as the Hermitage, becoming a wealthy planter who owned hundreds of African American slaves during his lifetime. In 1801, he was appointed colonel of the Tennessee militia and was elected its commander. He led troops during the Creek War of 1813–1814, winning the Battle of Horseshoe Bend and negotiating the Treaty of Fort Jackson that required the indigenous Creek population to surrender vast tracts of present-day Alabama and Georgia. In the concurrent war against the British, Jackson's victory at the Battle of New Orleans in 1815 made him a national hero. He later commanded U. S. forces in the First Seminole War, which led to the annexation of Florida from Spain. Jackson briefly served as Florida's first territorial governor before returning to the Senate. He ran for president in 1824. He won a plurality of the popular and electoral vote, but no candidate won the electoral majority. With the help of Henry Clay, the House of Representatives elected John Quincy Adams as president. Jackson's supporters alleged that there was a "corrupt bargain" between Adams and Clay and began creating a new political coalition that became the Democratic Party in the 1830s.Jackson ran again in 1828, defeating Adams in a landslide despite issues such as his slave trading and his "irregular" marriage. In 1830, he signed the Indian Removal Act. This act, which has been described as ethnic cleansing, displaced tens of thousands of Native Americans from their ancestral homelands east of the Mississippi and resulted in thousands of deaths. Jackson faced a challenge to the integrity of the federal union when South Carolina threatened to nullify a high protective tariff set by the federal government. He threatened the use of military force to enforce the tariff, but the crisis was defused when it was amended. In 1832, he vetoed a bill by Congress to reauthorize the Second Bank of the United States, arguing that it was a corrupt institution. After a lengthy struggle, the Bank was dismantled. In 1835, Jackson became the only president to pay off the national debt. After leaving office, Jackson supported the presidencies of Martin Van Buren and James K. Polk, as well as the annexation of Texas. Jackson's legacy remains controversial, and opinions on his legacy are frequently polarized. Supporters characterize him as a defender of democracy and the U. S. Constitution, while critics point to his reputation as a demagogue who ignored the law when it suited him. Scholarly rankings of U. S. presidents historically rated Jackson's presidency as above average. Since the late 20th century, his reputation declined, and in the 21st century his placement in rankings of presidents fell.This recording reflects the Wikipedia text as of 00:53 UTC on Monday, 20 January 2025.For the full current version of the article, see Andrew Jackson on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm long-form Patrick.

Some scholars trace the rise of the powerful modern presidency to Andrew Jackson, who expanded the use of the veto and appealed directly to the public to support his position on the recharter of the Second Bank of the United States. Center for Civic Education

President of the Mises Institute and author of “How Capitalism Saved America”, Dr. Thomas DiLorenzo joins us to uncover the current state of capitalism and if it still exists in America. Earlier in the episode, Keith discusses the inaccuracy of economic predictions, citing examples like the 2023 recession that never happened, the negative impact of misinformed predictions on investment decisions and business growth.  Persistent housing price crash predictions have been consistently wrong despite global pandemics and higher mortgage rates. Dr. DiLorenzo advocates for #EndTheFed to reduce inflation and restore free market principles. Learn how voluntary exchange between buyer and seller through market prices communicates information and influences production. Resources: Learn more about Austrian economics and Ludwig von Mises through visiting mises.org  Show Notes: GetRichEducation.com/521 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai     Keith Weinhold  00:00 Keith, welcome to GRE. I'm your host. Keith Weinhold, reviewing some terrible economic predictions and why it matters to you. Then the President of the Mises Institute joins us. Does capitalism still exist in the US and what would happen if we ended the Fed, today on get rich education.   00:24 Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, who delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show. Guess who? Top Selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit getricheducation.com   Corey Coates  01:09 You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  01:25 welcome to GRE from Syracuse, Sicily to Syracuse, New York, and across 188 nations worldwide, you're listening to one of the longest running and most listened to shows on real estate investing. This is Get Rich Education. I'm your host, Keith Weinhold, now a lot of media companies and pundits and influencers like to make predictions. Listeners like learning about predictions and by engaging just a little of that each of the past few years on one of the last episodes of the year. Here, I forecast the national home price appreciation rate for the following year, many media outlets, pundits and influencers have made terrible, just absolutely terrible, predictions about interest rates and other financial forecasts. Last year, a majority of Pro prognosticators firmly forecast six or eight Fed rate cuts this year, for example, well, we're going to have far fewer, and that's because high inflation kept hanging around. Then there's the 2023 recession that never happened, yet both Bloomberg and the economist actually published some rather ignominious headlines, as it turned out, they published these in the fall of 2022 Bloomberg, big headline was forecast for us, recession within year hits 100% in blow to Biden, well, That was false. That didn't come true. I mean, 100% that doesn't leave you any room for an out. And then also published in the fall of 2022 The Economist ran this headline why a global recession is inevitable in 2023 All right, well, they both believed in a recession, and they believed in it so deeply that it got fossilized. Well, an economic archeologist like me dug it up.   Dr Thomas DiLorenzo  03:31 We are going to die   Keith Weinhold  03:35 well, but I didn't risk my life like Indiana Jones did there. This archeology, it only involves some Google searches. Well, here's the thing. What's remarkable about America staving off a mammoth recession and leaving all the other g7 nations in the economic dust is the fact that merely predicting a recession often makes it come true. Just predicting one often turns a recession into a self fulfilling prophecy. Yeah, recession forecast headlines alone, they can spook employers from making new hires and slow down manufacturing, and it can also disillusion real estate investors from expanding their portfolios. Well, the US economy grew anyway, besides the farcical prognostications about myriad interest rate cuts in a quote, unquote definite 2023 recession that never happened. You know, there's also a third forecast that so many got wrong. And you probably know what I'm gonna say. I've brought it up before, because this hits our world, those erstwhile and well still ever present housing price crash predictions. I mean this facet of the gloom boom really ramped up from 2020 One until today, even a global pandemic, new wars and a triplicate mortgage rates couldn't stop the housing price surge and the rent surge. A lot of doomsdayers just couldn't see, or they didn't even want to see that a housing shortage would keep prices afloat. They didn't want to see it because they get more clicks when they talk about the gloom government stimulus programs also buoyed prices, and deep homeowner equity cushions will still keep prices afloat. Ever since 2021 here on the show, I've used that rationale and more to explain that home prices would keep appreciating, but that the rate of appreciation would slow down, and it has slowed down since 2021 see YouTubers tick tockers. They notoriously use woe begone housing crash headlines, because that gets more clicks and then some of the rationale behind this. The reasoning is just dreadful, like, what goes up must come down, all right? Well, this is like, why does it matter? Who cares about wrong predictions anyway? What's the point? Well, people become misinformed. People waste their time on these things and see no one loses money on dismal economic predictions. But the damage is done, because when investors don't act well, then they didn't get the gain that they should have had. Businesses didn't get the gain that they should have had when they could have made new investment and hired new employees sooner. And of course, a recession is going to happen sometime. They occur, on average, every five to six years. It is just a normal part of the business cycle will collectively these three faulty economic predictions, rate cuts, a recession and a housing price crash. I think if you bundle them all up combined, it could be as bad as one doomsday prediction about worldwide starvation or the Mayan apocalypse. Remember that the wide to K bug, the acid rain, even that the internet is just a fad that ran a buck 30 years ago. World War Three is eminent, robots overtaking humans, or how about running out of crude oil. I mean, we're definitely all supposed to have jet packs in flying cars by now, right? But yet, did anyone have the clairvoyance to predict the stock market crash of 1929 or September 11 terrorist attacks, or Trump's surprise, 2016 presidency or Bitcoin hitting 70k A while back, or the coronavirus. So really, overall, the bottom line here with predictions is that no one knows the future. Control what you can maintain equanimity, add good properties, gradually raise rent, reduce expenses, create leverage and expect inflation truly the best way to predict the future is to create it in just that way. Well is the USA capitalistic nation today. That's what we'll discuss later with this week's guest. When Chuck Todd hosted the show Meet the Press, he interviewed AOC about this. Yes, I'm talking about us. House Rep from New York, Alexandria Ocasio Cortez, what she say? You   08:34 have said you are democratic socialist. Can you be a Democratic socialist and a capitalist? Well, I think it depends on your interpretation. So there are some Democratic socialists that would say, Absolutely not. There are other people that are democratic socialists that would say, I think it's possible. What are you? I think it's possible. I think you say to yourself, I'm a capitalist, but I don't say that. You know, if anything, I would say, I'm I believe in a democratic economy, but.   Keith Weinhold  09:03 okay, well, I'm not sure if that clears it up at all. And I've listened to more of that clip, and it just makes things more confusing. But I think that most people have trouble drawing a line between capitalism and neighboring economic systems. Where exactly do you draw that line? I don't know exactly where to draw it. When I think of capitalism, I think of things though, like removal of interventionist central planning and allowing the free market to run with few guardrails. And then there's an issue like labor unionization. I don't really know about something like that. This is a real estate show. I'm still forming an opinion on a topic like that. In you know, some of this gets political, and that's beyond the scope of get rich education. The Fed was created in 1913 that central planning, its central banking from 1987 to. 2006 Alan Greenspan reigned as Fed chair. Those were his years, and he became even more interventionist. And then his successor, Ben Bernanke, maybe even more so with quantitative easing and such. Let's talk about, should they end the Fed and capitalism with this week's expert guest. You very well may have heard of the late, famed Austrian American economist Ludwig von Mises today, the Mises Institute carries on his legacy, and this week's guest is none other than the President of the Mises Institute. He's also the number one best selling author of how capitalism saved America and his newer book with a title that I love, The Politically Incorrect Guide to Economics. Hey, it's great to have you here. It is. Dr Thomas DiLorenzo.   Dr Thomas DiLorenzo  11:00 pleased to be with you. Thanks for having me.Th   Keith Weinhold  11:02 Well, Dr DiLorenzo, for those that don't know, just tell us a bit in an overview about Austrian economics and what Ludwig von Mises stood for.   Dr Thomas DiLorenzo  11:02 Well, Ludwig von Mises was the preeminent critic of socialism and fascism in Europe, and in his day, he fled the Nazis literally hours before the Gestapo broke into his apartment in Geneva, because he was the preeminent critic of fascism and socialism, and he was also Jewish, and so he had to get out of town. And he miraculously ended up after wandering through Europe with his wife in New York City, and he taught at New York University for many years, until he died in 1973 and but the Austrian School of Economics is a school of thought. It has nothing to do with, necessarily, with the Government of Austria, the country of Austria, just this the founder of a man named Carl Menger happened to be from Austria, but probably the most famous or well known among Americans would be Friedrich Hayek, who won the Nobel Prize in 1970s he was a student of Ludwig von Mises and critics of interventionism, critics of socialism. We teach about free markets, of how markets actually work and how governments don't work. And that's in a nutshell, that's what it's about. And you could check out our website, mises.org, M, I, S, E, S.org, you can get a great economic education. We have a lot of free books to download. Some of them are downloaded 30 or 40,000 times a month. Still, it's even Mises old books like human action, first published in the 1960s and so you can get a great education just by reading our website.   Keith Weinhold  12:42 Well, congratulations, that's proof that you're doing an excellent job of carrying on the Mises legacy into the present day, a lot of which is championing capitalism. Do we have capitalism in the United States today?   Dr Thomas DiLorenzo  12:59 I was an economics professor from 40 years before I got this job as President of the Mises Institute. And I used to say we had islands of socialism in a sea of capitalism at the beginning of my career. But now I'd say it's the opposite, that we have islands of capitalism in a sea of socialism. And socialism, this data is not defined anymore as government ownership. That was, you know, about 100 years ago, the socialism. It's basically government control of industry and in addition to government ownership. So the instruments of the welfare state, the income tax and the regulatory state, is our version of socialism, or central planning, if you will. And it's the Federal Reserve the Fed, which is a government agency that orchestrates the whole thing, really, it's a big, massive central planning industry that controls, regulates basically every aspect of any kind of financial transaction imaginable. They list in their publications over 100 different functions of the Federal Reserve. It's not just monetary policy. It's a big regulatory behemoth, and so that's that's what the Fed is. That's what I think we have today. A friend of mine, Robert Higgs, a well known economic historian, says our system is what he calls participatory fascism. And fascism was a system where private enterprise was permitted, but it was so heavily regulated and regimented by the government that industry had to do what government wanted to do, not what its customers wanted it to do, so much, and a large part of our economic system is just like that, and we get to vote still, so that's where the participatory and comes in, and the pin of Robert Hinz.   Keith Weinhold  14:41 yeah, maybe at best, I can think of today's system as capitalism with guardrails on but the guardrails keep getting taller. And I think of guardrails as being, for example, regulatory agencies like the Fed in FINRA. In the FDA.   Dr Thomas DiLorenzo  15:01 It is the beginning of my career. You know, I studied economics and a PhD in economics, and there was a big literature on what's called regulatory capture. And it was sort of a big secret among US economic academics. There was all this research going on and how the big regulatory agencies created by the federal government in the late 19th, early 20th centuries, were captured by the industries that they were supposed to be regulating. Right? The theory was they would regulate these industries in the public's best interests. But what has happened from the very beginning is they were captured by the industries, and they benefit the industry at the expense of the public. But today, that's caught on thanks to people like Robert Kennedy Jr, frankly, has been a very popular author. He sold a gazillion copies of his book on Anthony Fauci, and in it, he explains in tremendous detail how the Food and Drug Administration was long ago captured by the pharmaceutical companies. And he's not the only one. I think that that is being more and more recognized by people outside of academic economics, like me, and that's a good thing, and that's sort of the worst example of crony capitalism. It's not real capitalism, but crony capitalism making money through government connections, rather than producing better products, cheaper products and so forth.   Keith Weinhold  16:21 I watched RFK Jr speak in person recently, and I was actually disappointed when he effectively dropped out of the upcoming presidential race. And I do want to talk more with you about the Fed shortly, but with all these regulatory agencies and how I liken them to guard rails. You know, I sort of think of it as a watchdog system that's failing. You mentioned the FDA. I know RFK Jr brought them up an awful lot, the Food and Drug Administration that are supposed to help regulate what we put inside our own bodies in our diet. But these systems are failing. We have regulatory agencies in industry, industry in regulatory agencies. I mean, look at the obesity rate. Look at all the ultra processed food that's allowed. Look at all the seed oils that are allowed in food that people actually think are healthy for them. So this system of capitalism with guardrails is failing almost everywhere you look.   Dr Thomas DiLorenzo  16:22 I wouldn't call it capitalism. I wouldn't use the word capitalism at all, other than crony capitalism, people can relate to that. You know, a lot of these regulatory agencies were lobbied for in the first place by industry. That while the very first one was the Interstate Commerce Commission, it was in the 1880s it was meant to regulate the railroad companies. The first president was the president of a Railroad Corporation, the head of the Interstate Commerce Commission. So talk about the fox guarding the hen house. That was from the very beginning. And so in a sense, this word capture theory of regulation, which Kennedy has used, they weren't really captured. They always were created by the government. The same is true of all the so called Public Utilities. It was the corporations, the electric power companies, the water supply companies, that lobbied for governments to give them a monopoly, a legal monopoly, in electricity, water supply and all these things that were called natural monopolies, but there was nothing natural about them. There was vigorous competition in the early 20th century in telephone, electricity, water supply, and that was all set aside by government regulation, creating monopolies. For example, in electric power, there's an economist named Walter primo who wrote a book some years ago showing that always have been several dozen cities in America that never went this way, that always allowed direct competition between electric power companies. And what do you know, better service and lower prices. As a result, they did dozens of statistical studies to demonstrate this in his book.   Keith Weinhold  18:58 Okay, well, that's a great case study. Why don't we talk about what things would look like if we took down one of these agencies? We're a real estate investing in finance show. Sometimes it's a popular meme or hashtag to say, end the Fed. What would it look like if we ended the Fed?   Dr Thomas DiLorenzo  19:18 Well, the Fed was created in 1913 in the same era, with all these other regulatory captured agencies were created, right? And it was created basically to cartelize and create a cartel for the banking industry to make it almost impossible to go bankrupt. They've been bailing out foolish bankers for 111 years. And of course, the biggest example was that as the crash of 08 after they they handed Goldman Sachs and other big investment banks billions of dollars. That was a direct assault on capitalism itself, because capitalism, as you know, is a profit and loss system. It's not a I keep the profits. You pay for my losses system. You're the taxpayer. But that's what happened with that. So the Fed would. Fall into that the Fed is actually the fourth central bank in America. We had three other ones. First one was called Bank of North America. Its currency was so unreliable, nobody trusted it went out of business in a year and a half. And then we created something called the Bank of the United States in 1791 same thing. It created boom and bust cycles, high unemployment, price inflation, corrupted politics. It was defunded after 20 years, and then it was brought back to fund the debt from the war of 1812 and so we had a Second Bank of the United States. It did the same thing, boom and bust cycles, price inflation, corrupted politics. Benefited special interest, but not the general interest, and President Andrew Jackson defunded it, and so we went without a central bank from roughly 1840 until 1913 so we've had experience of that. And what we had been was competing currencies, and that would be sort of a stepping stone. If we got rid of the fed, we wouldn't have to abolish the Fed altogether. We could amend the charter to the Fed to say you're no longer permitted to buy bonds. Can't buy government bonds anymore. That's how they inflate the money supply, right? By buying bonds. That's totally unnecessary. And we could just just that would be a great step forward, and we would sort of whittle away our $80 trillion debt, if you count again upon count the unfunded liabilities of the federal government,   Keith Weinhold  21:26 if we did end the Fed, what would the price of money? Which are interest rates really look like? Would a new market rate be sent by individuals and companies on the free market like Bank of America, with a customer or borrower settling on an interest rate that they both agree to.   Dr Thomas DiLorenzo  21:44 You know, the Fed uses sort of Soviet style economics, price control. The economists and are all getting all over Kamala Harris for recommendations for price controls on rent and other things. Well, the Fed price control. They control the price of money. That's what they do. And so there's a big, kind of a comical thing that here you have all these economists, if they were to teach economics in the week one, they would teach about the bad effects of price controls, and then they get a job at the Fed, and they spend their whole career enforcing price controls on money, and the interest rate would be determined by supply and demand for credit and inflationary expectations. That's what the market does. And you wouldn't have these bureaucrats at the Fed tinkering around with interest rates, creating tremendous arbitrage opportunities for Wall Street investors. With all the movements and interest rates, you'd have much more stable interest rates, and and you wouldn't have this ridiculous system where the Fed says we need to always have forever at least 2% inflation. And of course, they never meet that, and they lie about it. I don't believe for one minute that the price inflation right now is 3% or under 3% that's ridiculous, right? And so things should be getting cheaper. Everything should be getting cheaper because of all the technology we have. My first PC I bought in the early 80s for $4,000 and it was a piece of prehistoric junk compared to my cell phone today, that almost for free. Almost everything should be like that agriculture, but the reason it isn't is the Fed keeps pumping so much money in circulation, that it pumps up the demand for goods and services, and that's what creates price inflation. And by its own admission, that's what it does, even though it's charter, it's original charter said they're supposed to fight inflation. All of a sudden, about 10 years ago or so, they announced, south of blue, we always have to have at least 2% inflation. Congress had nothing to do with that. President had nothing to do with that, and the people of America had nothing to do with that. It was dictators like Alan Greenspan and Ben Bernanke that just make these announcements. And where does that come from when we live under the dictatorship of the Fed? And of course, the people who are hurt the most by the Fed are elderly people are living on relatively fixed incomes and are forced to become Wall Street speculators they want to make any more money other than their fixed income, where, you know, during the days of Greenspan, when they're pursuing zero interest rates, maybe the mortgage industry like that, but the people on retirement income were starving as a result of that. So it's been sort of an economic war on the retired population.   Keith Weinhold  24:24 Things should get faster and cheaper to produce, like you said. However, there's definitely one thing that's not getting faster to produce, that's housing build times. Housing build times have actually gone up, which is sort of another discussion unto itself. But we talk about the Fed and then setting prices. People wouldn't stand for setting the price or having price controls on oil or lumber or bananas, but yet we set the price of money itself. People have just become accustomed to that. Yet it's that money itself that we use to buy oil and lumber and bananas the fed with that dual mandate of stable prices and maximum employment. If we did abolish the Fed, what would happen to the rate of inflation?   Dr Thomas DiLorenzo  25:12 Well, we would have less inflation. It's supposed to what we replace it with. There's some system would be a replacement, but we wouldn't have the boom and bust cycles that we have now. There's been research in the past 100 years or so of the Fed, and what the academic researchers have concluded is that the Fed has made the economy in general more unstable than it was before we had the Fed and price inflation. That's a joke. The dollar is worth maybe three cents of what it was in the year 1913 right when the Fed was created. So it has failed on all accounts. And so if we got rid of it, we would reverse that. The idea would be to start out with a competing money system. And I'll tell you a quick story is, you know the word Dixie from the south, you know land of Dixie that was named after a currency by a New Orleans bank called the Dix D, I x 10 in French, and it was 100% gold reserve. It was backed by something real and valuable, and it was so popular as even used in Minnesota. But that's why the whole south, the states in the South, were using this currency, because it was so reliable. But during the Civil War, the national currency acts imposed taxes on the competing currencies and taxed them out of business and established the greenback dollar, as it was called, as the Monopoly money of the country. We didn't get a central bank during the Civil War, but we got that. And so that's the kind of system that we would have. Friedrich Hayek wrote a whole book about this, about competing currencies, called the denationalization of money. He poses that as a good stepping stone to a freer market in money. And like you said, Money is the most important thing. Is most more important than bananas or shoes or any of these other things that we might have price controls on.   Keith Weinhold  27:01 All right, so we're talking about the case for ending the Fed. What is the counter argument? I mean, other than the government wanting control, is there a valid, or any academic counter argument for keeping the Fed in place?   Dr Thomas DiLorenzo  27:16 The Fed has an army. I call it the Fed's Praetorian Guard of academics. There was a research article published by an economist named Larry White at George Mason University several years ago, and he found that 75% of all the articles in the academic journals regarding money, monetary policy and so forth, are by people who are basically paid by the Fed, one way or the other. Either they're fed economists, or they've been invited to a conference by the Fed, or they're an intern some relationship with the Fed. The late Milton Friedman once said, If you want a career as a monetary economist, it's not a good idea to criticize the biggest employer in your field. So there's a lot of nonsense about that. And so yes, you'll have all sorts of rationales, but it basically comes down to this, that we think we can do central planning better than the Russians did under communism, because the Fed is basically an economic central planning agency, and there's no reason to believe Americans are better at it than the Russians or anybody else. And it basically comes down to that, you know, studying the past 111 years that's showing Well, yeah, they've been trying that for 111 years. They've made the economy more unstable, and they have failed miserably to control inflation. And why should we give them another chance? Why should we continue along this road? We shouldn't So, yeah, there'll be all kind of excuses the late Murray Rothbard, who was one of the founders of the Mises, who once answered this question by saying, It's as though people said, Well, say the government always made shoes. 100 years ago they took over the shoe industry. People would be saying, who will make shoes if the government doesn't make shoes? The government has always made shoes, right? But the government has not always monopolized the money supply. It's only like I said, we abolished three Feds in our history. In American history, they weren't called the Fed, but they were central banks. And the Fed is called a central bank, and we've done that three times. We've abolished more central banks than we have kept in American history.   Keith Weinhold  29:17  We're talking with Dr Thomas D Lorenzo. He is the president of the Mises Institute. About, is there really any capitalism left more when we come back, this is Get Rich Education. I'm your host. Keith Weinhold,  hey, you can get your mortgage loans at the same place where I get mine, at Ridge lending group and MLS 42056, they provided our listeners with more loans than any provider in the entire nation, because they specialize in income properties, they help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start now while it's on your mind at RidgeLendingGroup.com, that's Ridgelendinggroup.com. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings. If your money isn't making 4% you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work with minimum risk, your cash generates up to an 8% return with compound interest year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too. Earn 8% hundreds of others are text family to 66866, learn more about freedom. Family investments, liquidity fund on your journey to financial freedom through passive income. Text, family to 66866.   Kristen Tate  31:11 This is author Kristen Tate. Listen to Get Rich Education with Keith Weinhold, and Don't quit Your Daydream.   Keith Weinhold  31:27 welcome back to get rich education. We're talking with Dr Thomas DiLorenzo. He is the president of the Mises Institute. You can learn more about them @mises.org and Dr DiLorenzo. Frederick Hayek, an economist that you mentioned very well known and a student of Ludwig von Mises, he believed that prices are a communication mechanism between a buyer and a seller. Say, for example, there's a new style of single family rental home that everyone wants to rent. So therefore the rent price goes up when other builders see that the rent price goes up, that brings in more builder competition, and with more competition, that brings rent prices down, and then the world is filled with abundant housing, rather than a scarcity of housing. So that's how I think of a free market system within capitalism as working, as defined through Hayek.   Dr Thomas DiLorenzo  32:22 You know, the consumer is king. Von Mises once wrote about the same point where he said that people mistakenly believe that it's the bankers and the CEOs and the businesses that control what gets produced and so forth, but it's really the consumer. You build a housing development then people don't want those houses. You'll find out real fast who's in charge. It's not the mortgage brokers. It's not the bankers. It's not you, it's the consumer. That's the free market system, and if you do without it, and not using the free market system, whether it's for money or anything else, is kind of like trying to find your way around a strange city with no street signs, and the prices are the street signs that tell us what to do, exactly like you said, if there's strong demand for a certain type of housing, that'll drive the price up, and that'll tell the home builders, we can make money building more of these. And they will do that. Nobody tells them. The Chairman of the Fed doesn't have to tell them that the President doesn't have to tell them that Congress doesn't have to issue a declaration telling them to do that. That was the Soviet Union where they tried that. And that's the great thing about the market, is that the consumer can tell the richest man in the world like Elon Musk, go play in the traffic. Elon Musk, if they don't like his cars or whatever he's producing, even though he's the richest man in the world. And he understands that he's a pretty successful businessman, I would say, and so so he understands that the consumer is his boss.   Keith Weinhold  33:53 Well, what else do we need to know? You have published a lot of celebrated books, from how capitalism saved America to the politically incorrect guide to economics. What else might a real estate investor or an economic enthusiast need to know today? Oh,   Dr Thomas DiLorenzo  34:10 well, I think everybody needs to be their own economist. You can listen to the talking heads on TV and on podcasts and all that, but educate yourself and become your own economist. Because a lot of the people on TV, as you might see on the news, they have an ax to grind, or they have a sort of a hidden financial interest beyond what they're saying, Be your own economist. And that's why I'm selling my website, which is everything on it, it's for free, mises.org, and there are quite a few others too. You don't have to go to school, you don't have to get a degree. You can get a good economic education, for example, on money. We're in the middle of giving away 100,000 copies of a book called What has government done to our money. I'm Murray rothbar. You go to our website, scroll down to the bottom, and you can fill out a form online, and we'll send you free books and. You can educate yourself that way. And so just in general, I think that's what people need to do. I taught MBA students for many years who are people in their 30s or maybe even early 40s, who didn't have economics degrees, but they were really into it, and for the first time in their careers, they decided maybe I should understand how the economic world that I live in and work in every day operates rather than going through your life and your career without you. Might know all about real estate sales, but it's also useful to know about the economy in general and how things work.   Keith Weinhold  35:35 And when one becomes their own economic student and they take that on, I think it's important for them, like you touched on to not just consume the economic news that's on CNBC or other major media, because that doesn't really tell you how to create wealth. It might inform you, but it doesn't necessarily tell you how to take action. For example, on this show an educational channel, you might learn about a story about rising inflation like we had starting three or four years ago. And here we talk about how, okay, if inflation is going to be a long term economic force, you may or may not like what the Fed is doing, but rather than save money, borrow money, outsource that debt service to the tenant on a cash flowing asset like a single family home or an apartment building. And that inflation that you're learning about on CNBC will actually benefit you and debase your debt with prudent leverage on a property, for example, so not just consuming the news, but learning and educating yourself and acting.   Dr Thomas DiLorenzo  36:34 Oh, sure, well It just so happens that last night, I was talking to a friend of mine who's a real estate professional. They're all talking about, Oh, are we going to have a slight drop in interest rates? And I reminded them that there will be a part of the market if they see it, if we do have a slight drop in interest rates, we'll look at that and say, well, maybe this is a new trend. And so I'll sit back and I'll wait. I'm not going to buy now, because I think the interest rates are going to go down even further in the next six months there were, there would be some segment of the market that thinks that way. And so that's just one little thing. Another thing I would mention is that one of the basic tenets of free market economics is that voluntary trade is mutually beneficial. People buy and sell from each other, because both sides benefit. And that's very important for any business person to keep in mind as you structure business deals, because you know about business deal that is successful is basically, I will give you what you want, and you give me what I want, and we're both happy. And that's that's one of the main tenets of how the market works. Voluntary exchange is mutually beneficial. So think about how to make it mutually beneficial, and you'll succeed in making a deal.   Keith Weinhold  37:45 Well, it's been an excellent discussion on Is there any capitalism left, and how would it look like if we turned the course and created more capitalism here in the United States? It's been great having you on the show.   Dr Thomas DiLorenzo  37:58 Thank you.   Keith Weinhold  38:05 Yeah , again, Learn more @mises.org or look up books by Dr Thomas DiLorenzo. His viewpoint is that there are now merely islands of capitalism in a sea of socialism where those conditions were inverted last century. We've got to end the complex between the government and corporations that these watchdogs are basically powerless when the fox is guarding the henhouse. Dr dilorezzo says we could change the Fed charter so that they couldn't buy bonds, which should reduce inflation. So he does offer a way forward there, a solution.  In capitalism, he consumer is king. This is a good thing. You yourself are empowered because you get to vote with your dollars. So therefore what you buy more of society will see and make more of but a prosperous, progressive economy that should be able to produce goods and services that are constantly cheaper because they get more and more efficient to make with innovation, but centrally planned inflation makes them more expensive, at least in dollar denominated terms. So progress should make things cheaper? Well, then everything should take fewer dollars to buy, homes, oil, bananas, grapes, but it doesn't, and it won't anytime soon, like I mentioned in the interview, there single family build times are taking even longer. That's not more efficient, and they're sure not getting cheaper. In fact, the National Association of Home Builders tells us that from permit to completion in 2015 it took 7.2 months to build a single family home. By 2019 it was up to 8.1 months and then. Last year, the time required to build a single family home from permit to completion was 10.1 months. That's not the side of an efficient economy. So basically, therefore, in the last eight, nine years, the time to build a home has gone from 7.2 months up to 10.1 months. That is a drastic increase in a short period of time. Just amazing. And we now have data after covid as well, broken down by region. The longest build time, by the way, is in New England, where it is 13.9 months to build a home from permit to completion. Gosh, such inefficiency. But despite all that stuff that you might find discouraging like that, I want to go out on a good news note here some encouraging sentiment for you, if you champion free markets, then invest in us rental property down the road, there is no centrally controlled ceiling on what you can sell your property for. Most places don't have rent control. In fact, there's been no federal rent control on private property since World War Two. And somewhat ironically, you benefit. You actually benefit from government backed loans at these low fixed rates, and now they're moderate fixed rates. You often get these through Fannie Freddie or the FHA. See you benefit from that particular government backing as a savvy borrower for rental property. And on top of this, you use the GRE inflation triple crown to flip over that not so capitalistic inflationary force. You flip it upside down and use it to your benefit, profiting fantastically from inflation. So you know how to take the situation you're given and use it to your advantage rather than your detriment. Big thanks to Dr Thomas DiLorenzo today, longtime econ professor and current Mises Institute president, more ways to build Real Estate Wealth coming up here for you on the show in future weeks, as always, with the dash of economics and wealth mindset. Until then, I'm your host. Keith Weinhold, Don't Quit Your Daydream.   42:28 Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively,   Keith Weinhold  42:56 The preceding program was brought to you by your home for wealth, building, getricheducation.com.  

The collapse of Silicon Valley Bank has sparked a larger conversation about the role of financial institutions in American life. Heather and Joanne reflect on the cultural and aesthetic history of banks, from the Greek Revival-influenced Second Bank of the United States, to the robberies of express trains in the late 1800s, to the emergence of ornate Art Deco banks during the high-flying 1920s.  Join CAFE Insider to listen to “Backstage,” where Heather and Joanne chat each week about the anecdotes and ideas that formed the episode. Head to: cafe.com/history Listen to “Up Against The Mob: The Springfield Crew”: apple.co/3x4sgYj For more historical analysis of current events, sign up for the free weekly CAFE Brief newsletter, featuring Time Machine, a weekly article that dives into an historical event inspired by each episode of Now & Then: cafe.com/brief For references & supplemental materials, head to: cafe.com/now-and-then/why-americans-hate-and-love-banks/ Now & Then is presented by CAFE and the Vox Media Podcast Network. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Trump Rally Today in Iowa as Second Bank Fails Over the Weekend; Yellen Admits the 87K IRS Agents are Meant for Normal Americans Like, Comment, Share, and SUBSCRIBE! On Rumble: https://rumble.com/user/ConservativeDaily On Foxhole: https://pilled.net/profile/181316 Follow us on Social Media: https://libertylinks.io/ConservativeDaily https://libertylinks.io/JoeOltmann https://libertylinks.io/Apollo We might get canceled again…don't miss anything important. Subscribe to our newsletter: https://bit.ly/joinconservativedaily If you want to support the show, you can donate here: http://bit.ly/cd-donate https://www.americaneducationdefenders.com/ is a 501c3 that creates education content to enable children to have fun and develop their gifts! 10% off with Promo Code CD23 All proceeds enable Paul to create more amazing content! Support and protect your family and your second amendment NOW. DCF Guns is your one-stop-shop for firearms, ammunition, body armor, gear, and training. Get prepared for anything at https://www.dcfguns.co/ and use Promo Code JOE for 5% Discount online. Get the best coffee that only TRUE PATRIOTS can handle at https://beardedmancoffee.com/ and use Promo Code 1776 Support the fight for our nation by use promo code CD21 to get up to 66% off at https://www.mypillow.com/radiospecials or by placing your order over the phone at 800-872-0627. BUY 1 GET 1 FREE Special on the MyPillow 2.0 with Code CD21 Become a Conservative Daily member right now for massive savings on Faxblasts and member only perks! Use the link and sign up today! https://conservative-daily.com/forms/Step1b Text FREEDOM to 89517 to get added to our text list to receive notifications when we go Live! Privacy Policy: https://conservative-daily.com/Legal/Privacy Terms: https://conservative-daily.com/Legal/Terms Reply STOP to stop further text messages from Conservative Daily. Message and Data Rates may apply. Need help? (855) 954-6644 or reply HELP. Subscribe to our daily podcast at Apple Podcasts: http://bit.ly/ConservativeDailyPodcast We are also available on Spotify! https://open.spotify.com/show/2wD8YleiBM8bu0l3ahBLDN And on Pandora: https://www.pandora.com/podcast/conservative-daily-podcast/PC:37034 And on iHeart Radio: https://www.iheart.com/podcast/256-conservative-daily-podcast-53710765/ on TuneIn: https://tunein.com/radio/Conservative-Daily-Podcast-p1350272/ And now also on Audible! https://www.audible.com/pd/Conservative-Daily-Podcast-Podcast/B08JJQQ4M Support Joe Oltmann in his legal battle against Eric Coomer: https://givesendgo.com/defendjoeoltmann

Become a Member For Uncensored Videos - https://timcast.com/join-us/ A SECOND BANK COLLAPSED, SVB And Now Signature Banks Collapse Biden To Address Nation As Panic Grows. GET WOKE GO BROKE Hang Out With Tim Pool & Crew LIVE At - http://Youtube.com/TimcastIRL https://www.youtube.com/watch?v=nwoXou5zWiE #siliconvalleybank #svb #democrats Learn more about your ad choices. Visit megaphone.fm/adchoices

In 1913, several important events took place that impacted the US federal government. The Federal Reserve System was created through the Federal Reserve Act. The 16th Amendment was ratified, which authorized the federal government to impose and collect income tax.  The 17th Amendment provided for the direct election of US senators by the citizens of each state. Before this, senators were chosen by the legislature. Mike Winther dives into how the direct election of senators affects us, our country, and the constitution's original intent.   You'll Learn: [01:21] How our system was designed originally. Each state gets two senators who are chosen by the legislature for a term of six years. Each Senator gets one vote. [02:58] The executive branch, the legislative branch, and the judicial branch. The legislative branch is broken into two subgroups of the house and the Senate. [03:25] The president is appointed through the electoral college who were chosen by state legislatures. The Senate was appointed by the state legislature. The house was elected by the people. The Supreme Court Justices were appointed. [04:35] The founding fathers wanted the Senate appointed by the states because that's who they represented. The federal government was created by the state governments. [05:46] The states wanted control over the federal government by appointing the electors that appointed the executive branch. They also appointed the senators for two levels of veto.  [08:12] The 17th amendment allows the people to elect the senators.  [08:56] There are four reasons why the states wanted this change. 1. There was a lot of inefficiency in the state legislature. 2. Corruption. 3. The blatant use of money. 4. There was a change in the American mindset and a push for democracy. [12:30] The different forms of government. The four main governments are monarchy, oligarchy, democracy, and a republic. [21:07] Democracy tends to evolve towards oligarchy, and people vote to give more and more power to the government. [23:39] In a republic, power is determined by the law. The people elected are supposed to enforce the law. [26:35] Dictators often use anarchy to remove the government and become the ones in charge. [29:58] The founding fathers intentionally tried to mix the forms of government. [31:19] By changing how the senate is chosen, we begin to mix the forms of power. [37:16] Nullification is the constitutional theory that individual states can invalidate federal laws or judicial decisions they deem unconstitutional.  [45:27] The First Bank of the United States and the Second Bank of the United States were previous attempts at creating a Federal Reserve. [48:02] Mike tells an interesting historical story about how the states taxed the Bank of the United States using force.  [51:45] The ultimate interpreter of the constitution was intended to be the states. [52:43] The constitution allows appropriation of funds for the Navy but limits appropriation of funds for the Army.   Your Resources: Books to browse Five Principles By Michael Winther Nullification

Jane Knodell, professor of economics at the University of Vermont and author of "The Second Bank of the United States: Central banker in an era of nation-building" joins the show for a masterclass in financial history. Taking us back to the founding of the First & Second Bank of the United States, Knodell discusses the origins of banking, central banking and everything in between, taking us on a tour from the late 1700's to present day. To hear all this and more, you'll have to tune in! -- Follow Jane: https://twitter.com/JaneKnodell Follow Jack Farley on Twitter https://rb.gy/uesguv Follow Forward Guidance on Twitter https://rb.gy/cy0dki Follow Blockworks on Twitter https://rb.gy/igyzsj -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can't-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos -- Timestamps: (00:00) Introduction (01:02) The First Bank In The United States (04:29) The Coinage Act Of 1790 (08:37) The Financing Of The Revolutionary War (14:40) How Successful Was The First Bank? (17:14) The Second Bank of the United States: “Central” Banker in an Era of Nation-Building (24:50) The Mechanics of "Discounts, Exchange & Treasury Debt" (29:05) The Panic Of 1819 (33:02) The Panic of 1825 & The Role Of "Central" Banking (40:12) Did The Second Bank of the United States Closing In 1836 Have Any Effect On The Panic Of 1837? (46:29) The Panic Of 1907: The J.P. Morgan Bailouts (53:55) The Financial System's Plumbing (57:54) The Financing of WWI (01:02:34) The Great Depression (01:07:47) Can The Federal Reserve Print Money? (01:11:13) Bretton Woods (01:15:35) The Treasury-Fed Accord (01:19:15) The FTX Fallout -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Audio of the SCOTUS opinion in McCulloch v. Maryland (1819). Congress chartered The Second Bank of the United States in 1816 and placed a branch in Baltimore, MD - which, two years later, Maryland passed legislation to tax. The bank refused to pay the tax. The state appeals court held that the Second Bank itself was unconstitutional because the Constitution did not specifically grant the federal government the right to charter a bank. The question before the Supreme Court in this case was: 1) whether Congress had the right to establish the bank and, 2) whether Maryland's law taxing the federal bank unconstitutionally interfered with congressional powers. In a unanimous decision, the Court held that Congress indeed had the implied power to incorporate the bank and that states had the power of taxation, just not over instruments of the federal government employed in the execution of their constitutional powers. Find a full copy of the opinion with citations here: https://www.oyez.org/cases/1789-1850/17us316 Music by Epidemic Sound

"Everyone should have an intense interest in what money is and how it's manipulated by the few at the expense of the many. Money is crucial for survival. It is necessary for maintaining a free society. A healthy economy depends on it. Limiting political power is impossible without it. Sound money is essential for preventing unnecessary wars. Prosperity and peace in the long run are impossible without it."   Welcome back to another episode of Made You Think! In this episode, Nat and Neil are joined by their official new co-host, Adil Majid! In today's episode, they discuss their key takeaways from End the Fed by Ron Paul, a book which explains the fundamental problems with fiat money and provides a history on banking in the US. If you've never challenged the role of the Federal Reserve, this is an episode you won't want to miss. We cover a wide range of topics including: • Currency vs. money; How are they different? • The shift in power from countries to companies • Money printing, inflation, and the fate of the US dollar • The Cantillon Effect, and who benefits the most from this • Why utility is important in the longevity of currency And much more. Please enjoy, and make sure to follow Nat, Neil, and Adil on Twitter and share your thoughts on the episode.   Links from the Episode: Mentioned in the show: Great Books Program (2:11) Growth Machine (8:22) Audit the Fed, Sanders and Paul (10:04) Taylor Pearson - Cryptocurency and the Turkey Problem (12:28) Luna (19:45) Tether (20:08) Nat's Tokenomics 101 (22:35)  Nat's Tokenomics 102 (22:35)  Starlink (26:46) The Tim Dillon Show (29:16) Reagan tells Soviet jokes (35:04) Flexport (36:50) Bank of North America (39:18) First Bank of the United States (39:23) Second Bank of the United States (39:24) Independent Treasury System (39:27) Jekyll Island (48:14) Cantillon Effect (49:45) Fiat money (54:28) 40% of US dollars in existence were printed in the last 12 months (59:15) Iron (1:00:12) DAI Stablecoin (1:01:11) Russia's "Gold Standard" (1:05:06) Ruble as Year's Best-Performing Currency (1:05:10) Books Mentioned: End the Fed The Revolt of the Public (1:40) The Iliad (2:20) The Odyssey (2:21) Gödel, Escher, Bach (7:23) (Book Episode) (Nat's Book Notes) Principles for Dealing with the Changing World Order (23:08) People Mentioned: Tommy Collison (2:12) Aristotle (3:29) Seneca (3:30) (Book Episode) Douglas Hofstadter (7:21)  Bernie Sanders (10:00) Ben Bernanke (10:24) Tim Dillon (29:16) Warren Buffet (32:33) Show Topics: 0:32 We're stoked to announce that Adil Majid (who has joined us for episodes #7, #33, #34, #35, #71, #74, #75) is officially a co-host of Made You Think! Nat, Neil, and Adil talk about what's next for the podcast, and share the Great Books list that will be used to guide their book choices on future episodes. 4:01 Why some books have lasted so long, and why there are very few good philosophy books that have come out in the modern world. These old books were written over a long period of time, covering a wider span of history as compared to books written today. 8:32 The book we're discussing today is End the Fed by Ron Paul. One idea brought up in the book is auditing the Fed to see what exactly it is that the Fed is doing and where the money is going. We use the terms money and currency interchangeably but conceptually they're different things. The U.S. dollar is not money, it is currency. 15:34 Paul makes a case that there should be a free market of currencies, and people should create currencies that compete with the dollar. This ties in well with cryptocurrency where there are numerous coins, all with different rules and tokenomics for each currency. Historically, it hasn't always worked this way. 19:00 Creating stablecoins in crypto, they fail when they don't have a clear and necessary utility. Many projects will create new stable coins pegged to the dollar, but unless there's a specific market where that coin has utility, it falls out of circulation. 23:49 One interesting change that we're living through is the shift of power from countries to companies. Because many of the big and powerful companies are in the US and tied to the US dollar, the dollar retains it value and utility. 27:19 The era that we grow up seems to play a role in how we view and trust the government, as well as our support level of major wars. When things feel the best is when the down trend begins. Likewise, the uptick begins when things are at their worst. 32:54 With a pessimistic attitude, we have to remember how resilient countries are. We also don't have to solely rely on the government to fix the slump that we're in, there are companies that can fix some of these issues we're facing. 38:22 What is the Fed, and what systems were there before it? There were 4 systems before: Bank of North America , First Bank of the United States, Second Bank of the United States, and the US Independent Treasury System. Adil gives a brief history of these systems and how it has led to where we are today. 45:13 When you think about different sectors of crypto, sound money is underrated in the US. Gold for example, Neil shares the significance of investing in gold in Indian culture. Rising inflation rates in the US. 48:14 Jekyll Island and the Cantillon effect. Whoever is closest to the money printer benefits the most. Some people are effected more than others by inflation. How banks benefit from inflation. 54:28 Funding war with Fiat vs. hard money. Once we had the ability to print unlimited amounts of money to fund war, we didn't have to stop due to the economic cost of continuing as we may have had to before. 57:50 We keep having to print more and more money to get out of each economic downturn, and Paul predicts that at one point there will not be any amount of money to get us out, potentially leading to the collapse of the US dollar. What happens if or when we get to this point? 1:04:30 Hypothetically speaking, is there a way for the Fed to transition to having backing for the dollar? Does it have to collapse, and where are we in the current collapse? 1:08:54 Consumer debt crisis- if that all starts to collapse and unwind, the effects of that could be pretty devastating. Parallel economies. 1:11:43 Thanks for listening! Next episode, we will be covering The Revolt of the Public, so be sure to pick up a copy before our next episode! If you enjoyed this episode, let us know by leaving a review on iTunes and tell a friend. As always, let us know if you have any book recommendations! You can say hi to us on Twitter @TheRealNeilS, @adilmajid, @nateliason and share your thoughts on this episode. You can now support Made You Think using the Value-for-Value feature of Podcasting 2.0. This means you can directly tip the co-hosts in BTC with minimal transaction fees. To get started, simply download a podcast app (like Fountain or Breez) that supports Value-for-Value and send some BTC to your in-app wallet. You can then use that to support shows who have opted-in, including Made You Think! We'll be going with this direct support model moving forward, rather than ads. Thanks for listening. See you next time!

was a political struggle that developed over the issue of rechartering the Second Bank of the United States during the presidency of Andrew Jackson The affair resulted in the shutdown of the Bank and its replacement by state banks.

General Andrew Jackson, fresh off the election of 1828, assumes the office of the presidency, armed with a battle plan to bring down the institutions he blames for the corruption of the republic: America's National Bank. In this episode of Liberty vs. Power, Dr. Patrick Newman and Tho Bishop look at the Jacksonians' embrace of executive power and their battle against Nicholas Biddle of the Second Bank of the United States. Recommended Reading "Bureaucracy and the Civil Service in the United States" by Murray Rothbard — Mises.org/LP9_A "The War on Cash: Old and New" by Louis Rouanet — Mises.org/LP9_B A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP9_C The Jacksonian Persuasion: Politics and Belief by Marvin Meyers — Mises.org/LP9_D Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

General Andrew Jackson, fresh off the election of 1828, assumes the office of the presidency, armed with a battle plan to bring down the institutions he blames for the corruption of the republic: America's National Bank. In this episode of Liberty vs. Power, Dr. Patrick Newman and Tho Bishop look at the Jacksonians' embrace of executive power and their battle against Nicholas Biddle of the Second Bank of the United States. Recommended Reading "Bureaucracy and the Civil Service in the United States" by Murray Rothbard — Mises.org/LP9_A "The War on Cash: Old and New" by Louis Rouanet — Mises.org/LP9_B A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP9_C The Jacksonian Persuasion: Politics and Belief by Marvin Meyers — Mises.org/LP9_D Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

General Andrew Jackson, fresh off the election of 1828, assumes the office of the presidency, armed with a battle plan to bring down the institutions he blames for the corruption of the republic: America's National Bank. In this episode of Liberty vs. Power, Dr. Patrick Newman and Tho Bishop look at the Jacksonians' embrace of executive power and their battle against Nicholas Biddle of the Second Bank of the United States. Recommended Reading "Bureaucracy and the Civil Service in the United States" by Murray Rothbard — Mises.org/LP9_A "The War on Cash: Old and New" by Louis Rouanet — Mises.org/LP9_B A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP9_C The Jacksonian Persuasion: Politics and Belief by Marvin Meyers — Mises.org/LP9_D Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

Virginia's stranglehold over American politics continues with President James Monroe. While high school textbooks refer to this period of one-party rule as the "Era of Good Feelings," the reality is the Second Bank of the United States offers some of the most vulgar examples of corruption the American people have seen. In this episode, Patrick Newman and Tho Bishop discuss the Panic of 1819 and the impact it had on political alliances for decades to come. Recommended Reading The Panic of 1819: Reactions and Policies by Murray Rothbard — Mises.org/LP7_A A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP7_B "The Scandal of Smith and Buchanan: The Skeletons in the McCulloch vs. Maryland Closet" by David Bogen (PDF) — Mises.org/LP7_C Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

Virginia's stranglehold over American politics continues with President James Monroe. While high school textbooks refer to this period of one-party rule as the "Era of Good Feelings," the reality is the Second Bank of the United States offers some of the most vulgar examples of corruption the American people have seen. In this episode, Patrick Newman and Tho Bishop discuss the Panic of 1819 and the impact it had on political alliances for decades to come. Recommended Reading The Panic of 1819: Reactions and Policies by Murray Rothbard — Mises.org/LP7_A A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP7_B "The Scandal of Smith and Buchanan: The Skeletons in the McCulloch vs. Maryland Closet" by David Bogen (PDF) — Mises.org/LP7_C Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

Virginia's stranglehold over American politics continues with President James Monroe. While high school textbooks refer to this period of one-party rule as the "Era of Good Feelings," the reality is the Second Bank of the United States offers some of the most vulgar examples of corruption the American people have seen. In this episode, Patrick Newman and Tho Bishop discuss the Panic of 1819 and the impact it had on political alliances for decades to come. Recommended Reading The Panic of 1819: Reactions and Policies by Murray Rothbard — Mises.org/LP7_A A Short History of Paper Money and Banking in the United States by William Gouge — Mises.org/LP7_B "The Scandal of Smith and Buchanan: The Skeletons in the McCulloch vs. Maryland Closet" by David Bogen (PDF) — Mises.org/LP7_C Cronyism: Liberty versus Power in Early America, 1607–1849 by Patrick Newman — Mises.org/LP_Crony To subscribe to the Liberty vs. Power Podcast on your favorite platform, visit Mises.org/LvP.

Patrick Newman is a fellow at the Mises Institute who have just published his new book. He talks about Rothbard's approach to history, whether the US revolution was libertarian, and the proper way to interpret Andrew Jackson. Mentioned in the Episode and Other Links of Interest: Patrick Newman's new book Cronyism: Liberty vs. Power in Early America, 1607-1849Patrick's previous appearance on ep. 49 of the Bob Murphy ShowDan Sanchez's article on Andrew Jackson's fight with Nicholas Biddle over the Second Bank of the United StatesBob's review of MMT (including Andrew Jackson's payoff of the federal debt)The YouTube version of this interview ​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.

Patrick Newman is a fellow at the Mises Institute who have just published his new book. He talks about Rothbard's approach to history, whether the US revolution was libertarian, and the proper way to interpret Andrew Jackson. Mentioned in the Episode and Other Links of Interest: Patrick Newman's new book Cronyism: Liberty vs. Power in Early America, 1607-1849Patrick's previous appearance on ep. 49 of the Bob Murphy ShowDan Sanchez's article on Andrew Jackson's fight with Nicholas Biddle over the Second Bank of the United StatesBob's review of MMT (including Andrew Jackson's payoff of the federal debt)The YouTube version of this interview ​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.

Patrick Newman is a fellow at the Mises Institute who have just published his new book. He talks about Rothbard's approach to history, whether the US revolution was libertarian, and the proper way to interpret Andrew Jackson. Mentioned in the Episode and Other Links of Interest: The https://www.youtube.com/watch?v=b2FEAvfdB7U (YouTube version) of this interview. Patrick Newman's new book https://mises.org/library/cronyism-liberty-versus-power-early-america-1607-1849 (Cronyism: Liberty vs. Power in Early America, 1607-1849.) Patrick's previous appearance on https://www.bobmurphyshow.com/episodes/ep-49-patrick-newman-cracks-the-code-to-publish-a-new-rothbard-manuscript/ (ep. 49) of the Bob Murphy Show. Dan Sanchez's https://mises.org/library/19th-century-bernanke-0 (article on Andrew Jackson's fight) with Nicholas Biddle over the Second Bank of the United States. https://qjae.scholasticahq.com/article/17385-book-review-the-deficit-myth-modern-monetary-theory-and-the-birth-of-the-people-s-economy (Bob's review of MMT) (including Andrew Jackson's payoff of the federal debt). http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).

The first half of the 19th century was an era of upheaval. The United States nearly lost the War of 1812. Partisanship became endemic during violent clashes regarding States' Rights and the abolition of slavery. The battle between Andrew Jackson and Nicholas Biddle over the Second Bank of the United States epitomized a nation in turmoil: Biddle, the erudite aristocrat versus Jackson, the plain-spoken warrior. The conflict altered America's political arena. In 1832, President Andrew Jackson vowed to kill the Central Bank, setting in motion the infamous Bank War that almost bankrupted the nation. Under Biddle's guidance, the Second Bank of the United States had become the most stable financial institution in the world. Biddle fought Jackson with tenacity and vigor; so did members of Congress not under the sway of “Old Hickory.” Jackson accused Biddle of treason; Biddle declared that the president promoted anarchy. The fight riveted the nation. The United States is experiencing a reappearance of deep schisms within our population. They hearken back to the earliest debates about the federal government's role regarding fiduciary responsibility and social welfare. The ideological descendants of Nicholas Biddle and Andrew Jackson are as polarized today as they were during the nineteenth century. Cordelia Frances Biddle is an author with a passion for history. Her nonfiction work "Saint Katharine: The Life of Katharine Drexel" explores the transformation of a Philadelphia heiress into a champion for social justice, while her novels (The Actress without Fear, Beneath the Wind, etc.) draw upon history to tell captivating fictional stories.

Rocky Lalvani is a Certified Profit First Professional recommended by Mike Michalowicz. Born Indian, he was brought by his dad to America when he was 3 years old. Growing up, he has seen firsthand what it looks like to build a wealthy lifestyle out of nothing through saving, investing, and spending wisely.  After observing these principles, hard work, and more as an adolescent, Rocky implemented these principles in his own life throughout adulthood. His knack for learning from others and curiosity propelled him forwards.  He is now officially retired from corporate America and is currently focusing on flipping and/or renting houses, coaching 2 high school robotics teams, and volunteering in his community. He also has a podcast called Richer Soul, where he talks about life beyond money.  [00:01 - 05:06] Opening Segment What Rocky wants to do in life and how he does it Rocky talks about Profit First and its impact on real estate Why profit is a leftover.   [05:07 - 08:50] How to Profit First in Real Estate Giving every dollar a job and making profit a priority Not All About Profit BUT Smart Business Paying yourself with lots of accounts    [08:51 - 18:55] Banking and Saving Strategies Why do people wind up with unexpected bills? A Second Bank and a Spreadsheet Common mistakes clients and people make in business  Rocky's unique banking and savings strategy Not an overnight success story but years of doing it   [18:56 - 27:57] Closing Segment Quick break for our sponsorsGroundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started. What is the best investment you've ever made other than your education?His lowest-priced property Rocky's worst investmentStocks What is the most important lesson that you've learned in business and investing?“Start. Do it.  Make it better.” Connect with my guest. See the links below.   Tweetable Quotes: “It's really about discipline, mindset, and giving a dollar a job.” - Rocky Lalvani “You can still get a nice life without overspending.” - Rocky Lalvani “Start.  You'll figure it out.” - Rocky Lalvani ------------ Connect with Rocky Lalvani through Facebook, Twitter, Instagram, and LinkedIn.  Visit his website https://profitcomesfirst.com/ and listen to his podcast Profit Answer Man.   Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/ Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.  LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes                     

The first half of the 19th century was an era of upheaval. The United States nearly lost the War of 1812. Partisanship became endemic during violent clashes regarding States' Rights and the abolition of slavery. The battle between Andrew Jackson and Nicholas Biddle over the Second Bank of the United States epitomized a nation in turmoil: Biddle, the erudite aristocrat versus Jackson, the plain-spoken warrior. The conflict altered America's political arena. In 1832, President Andrew Jackson vowed to kill the Central Bank, setting in motion the infamous Bank War that almost bankrupted the nation. Under Biddle's guidance, the Second Bank of the United States had become the most stable financial institution in the world. Biddle fought Jackson with tenacity and vigor; so did members of Congress not under the sway of “Old Hickory.” Jackson accused Biddle of treason; Biddle declared that the president promoted anarchy. The fight riveted the nation. The United States is experiencing a reappearance of deep schisms within our population. They hearken back to the earliest debates about the federal government's role regarding fiduciary responsibility and social welfare. The ideological descendants of Nicholas Biddle and Andrew Jackson are as polarized today as they were during the nineteenth century. With this book, author Cordelia Frances Biddle documents the epic fight between Nicholas Biddle and Andrew Jackson over the fate of the Second Bank of the United States, shedding new light with previously undiscovered documents while bringing the story to life in a compelling biography of political intrigue.

The US's second attempt at setting up a central bank ended with Pres. Andrew Jackson's veto of the renewal of its charter. In this episode we look at the events leading up to Jackson's decision and at the fallout from it, including a depression on the scale of the Great Depression of the 1930s, several states defaulting and changes to their constitutions. Along the way there's fake news, a trade war, a bank war, high finance and low tricks. We end by bringing Moby Dick into the mix. Enjoy it.

Following the Panic of 1819 and the subsequent recession, the US's second attempt at a central bank got on with the job of holding the Treasury's money, controlling the currency and regulating the nation's banks. It had some success, though it was widely blamed for causing the Panic and the pain that ensued. Then, in 1824, thanks to what he called the "corrupt bargain," the sort-of-populist candidate Andrew Jackson lost the presidential election and immediately started campaigning for the 1828 rerun, taking aim at elites, banks, bankers and so on. Sound familiar? The Bank of the United States was drawn into the conflict, triggering the "bank war," which of course got personal very fast, and involved horsewhipping (why not?) a duel or two, fake news and other types of skuldggery, as the bank and its boss fought to have its federal charter renewed in the teeth of opposition from the nation's President. Oh, and Leonard Cohen makes an appearance. This is the second part of the series. In the third and final part, which will drop in the next fortnight, we will deal with the outcome of that battle and the fallout from the "bank war."

This is Part 1 of a two-part series on the US's second attempt at installing a central bank, setting the scene for the Panic of 1819, a serious depression for which the Second BUS took most of the blame. This was somewhat unfair, but politically toxic. This was to become apparent some years later when the fledgeling central bank's management miscalculated and took a step that was to prove much like handing hostile interests a loaded gun, placing the barrel in its own mouth and inviting them to press the trigger. In this episode I set the scene, going through its birth after the War of 1812, a monster volcanic explosion, what lay behind the speculative boom that led to the Panic of 1819 and the bust -- a depression that lasted until 1821 -- that followed.

Some scholars trace the rise of the powerful modern presidency to Andrew Jackson, who expanded the use of the veto and appealed directly to the public to support his position on the recharter of the Second Bank of the United States. Center for Civic Education

Author Steve Harris joins S.T. Patrick to discuss America's Secret History: How the Deep State, the Fed, the JFK, MLK, and RFK Assassinations, and Much More Led to Donald Trump's Presidency. this episode's topics include Andrew Jackson and the Second Bank of the United States, the Deep State and the Civil War, the Assassination of President Lincoln, the Assassination of President Garfield, the Spanish-American War, the Rise of the Federal Reserve, the Treaty of Versailles, and more. To purchase garrison.: The Journal of History & Deep Politics, go to http://www.lulu.com/spotlight/MidnightWriterNews. You can become a patron of the Midnight Writer News Show by going to our Patreon link and making a small monthly  or one-time donation. You can also support the show and garrison.: The Journal of History & Deep Politics by going to our GoFundMe page and making a contribution there. Any and all support is greatly appreciated in the effort to continue doing what we do.

It’s September 10th. On this day in 1833, President Andrew Jackson announced that the U.S. government would no longer be keeping its money with the Second Bank of the United States. Jody and Niki are joined by Jacob Goldstein, host of the “Planet Money” podcast, to discuss Jackson’s showdown with the country’s official bank, and how it fits into the long history of distrust in banking institutions in America. Jacob’s new book is called “Money: The True Story of a Made Up Thing.” Buy it now! Find a transcript of this episode at: https://tinyurl.com/esoterichistory This Day In Esoteric Political History is a proud member of Radiotopia from PRX. Get in touch if you have any ideas for future topics, or just want to say hello. Our website is thisdaypod.com Follow us on social @thisdaypod

SEPTEMBER 10 -- 1833 Andrew Jackson shuts down Second Bank of U.S.; 1989 Happy Birthday Waldo Semon, invented vinyl; 1945 Miracle Mike the chicken survives decapitation

In 1828, President Andrew Jackson stated that the International Bankers, through the British R0thsch1ld family, who once again enslaved a young America through the creation of the Second Bank of the United States, were "a den of vipers and thieves," because they were ROTTING America from the inside through their unconstitutional banking system. In 1911, the first HOLLYWOOD STUDIO was established in the newly incorporated city of Hollywoodland, and thus began another ROTTING of the American people, this time through the creation of the movie industry and the worship of human beings that were called 'stars.' After 109 years of internal rot from within, through the combination of MONEY and PRESTIGE, Hollywood has proven to be an "immoral den of vipers," and one of the worst creations of America, next to the R0thsch1ld Bank known today as (the not-so)"Federal Reserve." God created us in His own (perfect) image, and we decided to return the favor by creating (immoral) Hollywood, deifying man and worshipping the creature rather than the Creator! --------------------------------------------------------------------------------------------------- SUPPORT THIS SHOW:

Ole Andrew Jackson. A self-proclaimed man of the people. Master Dueler. Assassin of the Second Bank of the US. He also did the worst job imaginable when dealing with Native Americans. Find out more about the man, myth and the legend!

President Andrew Jackson's conflict with the Second Bank of the United States was one of the most consequential political struggles in the early nineteenth century. A fight over the bank's reauthorization, the Bank War, provoked fundamental disagreements over the role of money in politics, competing constitutional interpretations, equal opportunity in the face of a state-sanctioned monopoly, and the importance of financial regulation—all of which cemented emerging differences between Jacksonian Democrats and Whigs. As Stephen W. Campbell argues here, both sides in the Bank War engaged interregional communications networks funded by public and private money. The first reappraisal of this political turning point in US history in almost fifty years, The Bank War and the Partisan Press advances a new interpretation by focusing on the funding and dissemination of the party press.Drawing on insights from the fields of political history, the history of journalism, and financial history, The Bank War and the Partisan Press brings to light a revolving cast of newspaper editors, financiers, and postal workers who appropriated the financial resources of preexisting political institutions—and even created new ones—to enrich themselves and further their careers. The bank propagated favorable media and tracked public opinion through its system of branch offices while the Jacksonians did the same by harnessing the patronage networks of the Post Office. Campbell's work contextualizes the Bank War within larger political and economic developments at the national and international levels. Its focus on the newspaper business documents the transition from a seemingly simple question of renewing the bank's charter to a multisided, nationwide sensation that sorted the US public into ideologically polarized political parties. In doing so, The Bank War and the Partisan Press shows how the conflict played out on the ground level in various states—in riots, duels, raucous public meetings, politically orchestrated bank runs, arson, and assassination attempts. The resulting narrative moves beyond the traditional boxing match between Jackson and bank president Nicholas Biddle, balancing political institutions with individual actors, and business practices with party attitudes.-Stephen W. Campbell is a lecturer in the History Department at Cal Poly Pomona. He is the author of The Bank War and the Partisan Press: Newspapers, Financial Institutions, and the Post Office in Jacksonian America. You can follow him on Twitter, @Historian_Steve.---Support for the Age of Jackson Podcast was provided by Isabelle Laskari, Jared Riddick, John Muller, Julianne Johnson, Laura Lochner, Mark Etherton, Marshall Steinbaum, Martha S. Jones, Michael Gorodiloff, Mitchell Oxford, Richard D. Brown, Rod, Rosa, Stephen Campbell, and Victoria Johnson, Alice Burton, as well as Andrew Jackson's Hermitage​ in Nashville, TN.

The Second Bank of the US was formed to help stabilize the inflationary environment following the War of 1812.  This episode explores the inflation that helped to derail the economy leading up to the Panic of 1819 as well as the outcome of the nation's third attempt at a central bank.  *** US Economics Podcast mugs are now available! Check them out at my Patreon and support the show!***

One of the most controversial issues during the presidency of Andrew Jackson centered around the future of the Second Bank of the United States. During the changing economic and social conditions of the 1820's and 1830's, there was much hostility between the Bank on the one hand, and rising capitalists, urban workers, and farmers on the other. In this context, Jackson aimed to do away with the Bank. The Bank's supporters, however, struck back. In a move intended to wrench political support from Jackson, Henry Clay forced a bill through the Senate to recharter the Bank. Jackson vetoed the bill, beginning the long struggle which has become known as "The Bank War." Jackson defeated Clay in the presidential election of 1832 despite Clay's efforts. Taking his political victory as a mandate from the people to destroy the Bank, he withdrew federal deposits, thereby setting the stage for the Bank's eventual death in 1836.Published in 1967, in Andrew Jackson and the Bank War Robert V. Remini begins by discussing the antagonists in the Bank War: Jackson and Biddle. He states that "the destruction of the Bank occurred because it got caught between [these] two willful, proud, and stubborn men..." He then goes on to details of the struggle, "emphasizing the ways in which the War transformed the presidential office: how Jackson capitalized on the struggle to strengthen the executive branch of the government and infuse it with much of the power it enjoys today."Joining me in this discussion of about Andrew Jackson and the Bank War by one of the greatest historians of Andrew Jackson is Dr. Stephen W. Campbell.Dr. Campbell received his Ph.D. In History from the University of California, Santa Barbara in 2013, completing his dissertation on the "Bank War" with a particular emphasis on newspaper editors and political institutions. His first book, developed from this thesis, is scheduled to come out in the fall of 2018 with the University of Kansas Press. He is currently a lecturer at Pasadena City College.

In this episode, I consider the leadership lessons which can be drawn from our 7th President Andrew Jackson. I focus largely on the crisis surrounding the charter of the Second National Bank of the United States, which played out over 5 years from 1831 to 1836. This conflict pitted Jackson against most the nation’s political and financial elites, most prominently Nicolas Biddle, the President of the Bank. However, the great politicians of the day, including Henry Clay and Daniel Webster were lined up against President Jackson as well. The crisis came to a head in the summer of 1832 when both the House and Senate passed a bill renewing the Charter of the Second Bank of the US early. Not only did Jackson veto the bill and give one of the most memorable veto addresses of any President, he then took on Biddle directly by removing first removing persons in the administration and government who were pro-Bank and pro-Biddle. In the coup de grace for the Bank, Jackson the gold species from the Bank and moving into state banks across the country. Jackson won the battle completely. His actions were not without negative consequence as the distribution of the species across the country led to rampant inflation and the Panic of 1837. However, by that time, Jackson had departed the Presidency and the fallout was left to his successor Martin Van Buren. Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew Jackson (March 15, 1767 – June 8, 1845) was an American soldier and statesman who served as the seventh President of the United States from 1829 to 1837 and was the founder of the Democratic Party. Before being elected to the presidency, Jackson served in Congress and gained fame as a general in the United States Army. As president, Jackson sought to advance the rights of the "common man" against a "corrupt aristocracy" and to preserve the Union. He became a practicing lawyer in Tennessee and in 1791 he married Rachel Donelson Robards. Jackson served briefly in the U.S. House of Representatives and the U.S. Senate. Upon returning to Tennessee, he was appointed a justice on the Tennessee Supreme Court, serving from 1798 until 1804. In 1801, Jackson was appointed colonel in the Tennessee militia, and was elected its commander the following year. He led Tennessee militia and U.S. Army regulars during the Creek War of 1813–1814, winning a major victory at the Battle of Horseshoe Bend. The subsequent Treaty of Fort Jackson required the Creek surrender of vast lands in present-day Alabama and Georgia. Jackson won a decisive victory in the War of 1812 over the British army at the Battle of New Orleans, making him a national hero. Following the conclusion of the War of 1812, Jackson led U.S. forces in the First Seminole War, which helped produce the Adams–Onís Treaty of 1819 and the transfer of Florida from Spain to the United States. Following the ratification of the treaty, Jackson briefly served as Florida's first territorial governor before winning election as a U.S. Senator from Tennessee. Jackson was a candidate for president in 1824 but, lacking a majority of electoral votes, lost the election in the House of Representatives to John Quincy Adams. In reaction to a "corrupt bargain" between opponents Adams and Henry Clay, Jackson's supporters founded the Democratic Party. He ran again for president in 1828 against Adams and won in a landslide. As president, Jackson faced a threat of secession by South Carolina over the "Tariff of Abominations" enacted under Adams. The Nullification Crisis was defused when the tariff was amended and Jackson threatened the use of military force if South Carolina attempted to secede. Congress, led by Clay, attempted to reauthorize the Second Bank of the United States; Jackson regarded the Bank as a corrupt institution and vetoed the renewal of its charter. After a lengthy struggle, Jackson and the congressional Democrats thoroughly dismantled the Bank. In 1835, Jackson became the only president to completely pay off the national debt, fulfilling a longtime goal. In foreign affairs, Jackson's administration concluded a "most favored nation" treaty with Great Britain, settled U.S. claims of damages by France from the Napoleonic Wars, and recognized the Republic of Texas. His presidency marked the beginning of the ascendancy of the "spoils system" in American politics. In 1830, Jackson signed the Indian Removal Act, which relocated most members of the Native American tribes in the South to Indian Territory (now Oklahoma). The relocation process dispossessed the Indians and resulted in widespread death and sickness. In his retirement, Jackson remained active in Democratic Party politics, supporting the presidencies of Martin Van Buren and James K. Polk. Jackson was widely revered in the United States, but his reputation has declined since the mid-20th century, largely due to his role in Indian removal and support for slavery. Surveys of historians and scholars have ranked Jackson between 6th and 18th most successful among United States presidents.   From Wikipedia.   Song during mid interstitial:  "C-Funk" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0/

Andrew Jackson (March 15, 1767 – June 8, 1845) was an American soldier and statesman who served as the seventh President of the United States from 1829 to 1837 and was the founder of the Democratic Party. Before being elected to the presidency, Jackson served in Congress and gained fame as a general in the United States Army. As president, Jackson sought to advance the rights of the "common man" against a "corrupt aristocracy" and to preserve the Union. He became a practicing lawyer in Tennessee and in 1791 he married Rachel Donelson Robards. Jackson served briefly in the U.S. House of Representatives and the U.S. Senate. Upon returning to Tennessee, he was appointed a justice on the Tennessee Supreme Court, serving from 1798 until 1804. In 1801, Jackson was appointed colonel in the Tennessee militia, and was elected its commander the following year. He led Tennessee militia and U.S. Army regulars during the Creek War of 1813–1814, winning a major victory at the Battle of Horseshoe Bend. The subsequent Treaty of Fort Jackson required the Creek surrender of vast lands in present-day Alabama and Georgia. Jackson won a decisive victory in the War of 1812 over the British army at the Battle of New Orleans, making him a national hero. Following the conclusion of the War of 1812, Jackson led U.S. forces in the First Seminole War, which helped produce the Adams–Onís Treaty of 1819 and the transfer of Florida from Spain to the United States. Following the ratification of the treaty, Jackson briefly served as Florida's first territorial governor before winning election as a U.S. Senator from Tennessee. Jackson was a candidate for president in 1824 but, lacking a majority of electoral votes, lost the election in the House of Representatives to John Quincy Adams. In reaction to a "corrupt bargain" between opponents Adams and Henry Clay, Jackson's supporters founded the Democratic Party. He ran again for president in 1828 against Adams and won in a landslide. As president, Jackson faced a threat of secession by South Carolina over the "Tariff of Abominations" enacted under Adams. The Nullification Crisis was defused when the tariff was amended and Jackson threatened the use of military force if South Carolina attempted to secede. Congress, led by Clay, attempted to reauthorize the Second Bank of the United States; Jackson regarded the Bank as a corrupt institution and vetoed the renewal of its charter. After a lengthy struggle, Jackson and the congressional Democrats thoroughly dismantled the Bank. In 1835, Jackson became the only president to completely pay off the national debt, fulfilling a longtime goal. In foreign affairs, Jackson's administration concluded a "most favored nation" treaty with Great Britain, settled U.S. claims of damages by France from the Napoleonic Wars, and recognized the Republic of Texas. His presidency marked the beginning of the ascendancy of the "spoils system" in American politics. In 1830, Jackson signed the Indian Removal Act, which relocated most members of the Native American tribes in the South to Indian Territory (now Oklahoma). The relocation process dispossessed the Indians and resulted in widespread death and sickness. In his retirement, Jackson remained active in Democratic Party politics, supporting the presidencies of Martin Van Buren and James K. Polk. Jackson was widely revered in the United States, but his reputation has declined since the mid-20th century, largely due to his role in Indian removal and support for slavery. Surveys of historians and scholars have ranked Jackson between 6th and 18th most successful among United States presidents.   From Wikipedia.   Song during mid interstitial:  "C-Funk" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0/

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Even before he had sent out the letter not even ten days prior Lieutenant Colonel William Barret Travis knew that the cause had been lost. Even as the 187 volunteers who stood guard within the mission walls looked out on the sea of 3,000 Mexican soldiers under the command of the Napoleon of the West, General Antioni López de Santa Anna, they knew how outnumbered they truly were. In their minds this was not how it was meant to be, and there was little doubt they had wondered how it had carried this far. Mexico was supposed to be a land of opportunity for them. It had only declared its independence from Spain 4 years prior when Americans began to immigrate. The Panic of 1819 had led to financial disaster as depression gripped the economy and land prices soared. The Second Bank of the United States, and, in turn, the government had failed the people as the inflationary bubble ballooned out of control, until it finally burst. Mexico, despite the political instability, seemed like it was the new frontier with its vast open territory in Texas, and its new federalist system modeled after the United States Yet it wouldn’t last… In 1833 Santa Anna would be swept to power, and he would begin to test the scope of that authority. Within two years the fight between the President’s new Centralist Agenda, and the established Federalist order that had dominated the Mexican way of life for the past decade would turn to violence. It wasn’t just Texas that rebelled. Several states openly defied the regime that exerted its dominance over them. Yet one by one they fell to the Army of Operations as Santa Anna stepped down to lead the army and put down the insurrection. Even the well-armed Zacatecan Army under Governor Francisco García Salinas fell within two hours as 3,000 of his citizens were taken prisoner. It would be the last stand before the Constitution of 1824 was replaced by the Seven Laws. Mexico would dissolve the Congress and consolidate its power in the hands of the President, becoming a dictatorship. Now, the Alamo was next in front of Santa Anna… His troops had already been forced to withdraw at the Battle of Gonzales, humiliated during the Gulf Coast Campaign and defeated at the Siege of Bexar. Each step of the way they would be frustrated by the Texians. But there would be no salvation for the rebels locked behind those mission walls. Colonel Travis knew it as well. Having only been sent to the Alamo a month prior and having been given joint command with Colonel James Bowie, he had sent his famous plea just a few days prior, declaring, “ The enemy has demanded a surrender at discretion, otherwise, the garrison are to be put to the sword, if the fort is taken - I have answered the demand with a cannon shot, & our flag still waves proudly from the walls - I shall never surrender or retreat. Then, I call on you in the name of Liberty, of patriotism & everything dear to the American character, to come to our aid, with all dispatch - The enemy is receiving reinforcements daily & will no doubt increase to three or four thousand in four or five days. If this call is neglected, I am determined to sustain myself as long as possible & die like a soldier who never forgets what is due to his own honor & that of his country - Victory or Death.” Perhaps had Bowie removed the artillery and destroyed the fortification, having had the authority from Major General Sam Houston, but it was too late now No real relief would come. Colonel James Fannin would march his troops, some three hundred strong, but they would push only to Goliad before trouble would greet them, leaving them stuck without food or adequate supplies. Washington was too far for Travis to reach the ears of the American President to send help and support, not with the numbers massing outside those walls. At 5:30am on March 6th 1836 the Mexican Army would begin their advance. Sleep deprived and exhausted, three sentinels would be found sleeping, and killed before they could sound the alarm. It wouldn’t be until the sound of the bugle and the cries of “Viva Santa Anna!" that the defenders would know that the siege was upon them. The women and children would hastily rush to the chapel, barricading themselves in. From the other side, Travis would yell, “Come on boys, the Mexicans are upon us and we'll give them hell!” as they rushed forward to meet the flood of troops that came crashing down on them. He would be one of the first to fall, shot firing into the invading forces rank, drawing his sword, taking a soldier who had scaled the wall with him. Within an hour the battle would be over. Colonel Bowie would be dead on his cot, too sick to meet the invaders on at the wall, but braced against the wall with pistols and his infamous knife. Stories would circulate that Colonel Davey Crockett would be found with at least 16 enemy soldiers fallen around his corpse. Major Robert Evans would fall with a torch in his hand, trying to set the gunpowder on fire. Had he not the blast would have encompassed the church. Among the last to fall Captain Almaron Dickinson, Second Lieutenant James Bonham, Colonel Travis’ cousin, and Private Gregorio Esparza grabbed rifles and started to fire before being overtaken by the bayonet, the last words escaping Dickinson’s mouth crying out, “Great God, Sue, the Mexicans are inside our walls! If they spare you, save my child”. In the end, when the smoke settled, all but seven of the defenders of the Alamo had died. As Santa Anna’s troops toured the carnage there would be no mercy shown, no reprieve offered. Any found moving would be bayoneted. Even the seven who surrendered would find no pity in the eyes of the enemy as he ordered their immediate execution. Yet, it would be a costly victory. For the almost 200 who would die 600 Mexican soldiers would be wounded or killed at the Alamo. Though Santa Anna would press forward amidst the Goliad campaign, the Alamo would be a rallying cry for the Texas revolutionaries as he met his decisive defeat at the Battle of San Jacinto. Perhaps best described by the memorial at the field where General Houston’s forces took Santa Anna prisoner, it simply reads, “With the battle cry, "Remember the Alamo! Remember Goliad!" the Texans charged. The enemy taken by surprise, rallied for a few minutes then fled in disorder. The Texans had asked no quarter and gave none. The slaughter was appalling, victory complete, and Texas free! On the following day General Antonio Lopez De Santa Anna, self-styled "Napoleon of the West," received from a generous foe the mercy he had denied Travis at the Alamo and Fannin at Goliad.”

On the November 29, 2016 Boomer Generation Radio, the guest is Cornelia Biddle, author and descendant of Francis Martin Drexel, grandfather of Saint Katharine Drexel. She is currently writing about her ancestor Nicholas Biddle, president of the Second Bank of the United States.

On the November 29, 2016 Boomer Generation Radio, the guest is Cornelia Biddle, author and descendant of Francis Martin Drexel, grandfather of Saint Katharine Drexel. She is currently writing about her ancestor Nicholas Biddle, president of the Second Bank of the United States. Boomer Generation Radio is sponsored in part by Kendal Corporation, a Quaker-based provider of continuing care retirement communities in the Northeast and Midwest, airs on WWDB-AM 860 every Tuesday at 10 a.m., and features news and conversation aimed at Baby Boomers and the issues facing them as members of what Rabbi Address calls “the club sandwich generation.” You can hear the show live on AM 860, or streamed live from the WWDB website. Subscribe to the RSS feed for Boomer Generation Radio podcasts, or subscribe to the RSS feed for all Jewish Sacred Aging podcasts .   Subscribe to these podcasts in the Apple iTunes Music Store. The post Author and historian Cornelia Biddle, guest for the hour on 11/29/16 Boomer Generation Radio appeared first on Jewish Sacred Aging.

February 22, 2016 - This week, we sling-shot around the sun at high warp, sending us tumbling back in time to the Summer of 1832 -- and America, at war. It's not a conflict over land or of arms, but over the fiscal system of the young republic. Our guide on this journey is Paul Kahan, and his book is The Bank War: Andrew Jackson, Nicholas Biddle, and the Fight for American Finance. The fight against the Second Bank of the United States may have been the most frustrating fight of President Jackson's life, since -- for once -- he couldn't end things by simply shooting or threatening to shoot his opponent in the face. Dr. Kahan holds a Ph.D. in U.S. history from Temple University, an M.A. in Modern American History & Literature, and B.A.s in history and English. He's also the author of two books on Philadelphia's Eastern State Penitentiary, and another titled, The Homestead Strike: Labor, Violence, and American History Critical Moments in American Industry. You can visit him at PaulKahan.com, or follow him on Twitter @Paul_Kahan.    

In this last part of my book report about "The Creature from Jekyll Island", we begin with the battle between President Andrew Jackson and Nicholas Biddle, the director of the Second Bank of the United States. For a third time, an attempt at securing a central bank in this country was thwarted. It is an exciting tale, but the consequences of this clash still haunt us today. The central bank may have been defeated, but banking was still very much alive.  Before the Civil War began, there were many European money masters who were actively attempting to break up the United States and weaken her position on the global economic stage.  President Lincoln's primary goal was to preserve the Union, contrary to popular history.  By printing Greenbacks, he in effect suspended the Constitution and placed the government into the business of banking.  After the smoke had cleared from the battlefields, the U.S. suffered the bloodiest war in history, but the economic turmoil was just beginning.   50 years later, the Federal Reserve system was put into place and the world changed forever.  

We'll hunt for National Treasures where Congress and the Supreme Court first met, and at the Second Bank of the United States, precursor to the Federal Reserve. That's where they keep all the money.

From Part I of A History of Money and Banking in the United States: The Colonial Era to World War II: "The History of Money and Banking Before the Twentieth Century". Narrated by Matthew Mezinskis.

Whatever one thinks of Andrew Jackson and his legacy, he was surely never one to back down from a fight. So when he took on the Second Bank of the United States it was an unstoppable force against an immovable object. In short, the bank never knew what hit it. Find out how Andrew Jackson killed the bank on this week's episode of The Corbett Report.DownloadJames Corbett's website is: http://www.corbettreport.com/Source: The Corbett ReportAired: 2010/04/11 12:00 AMThis podcast is an aggregate of audio files freely available online. Please visit the original source and subscribe to the host website.

Evil Concealed by Money by Walter E. Williams http://www.gmu.edu/departments/economics/wew/articles/08/EvilConcealedByMoney.htm Williams' new book: http://www.amazon.com/Liberty-versus-Tyranny-Socialism-Controversial/dp/0817949127 Let's talk about socialism, in America..."The forcible use of one person to serve the purposes of another" The perceived virtuous coercion to get people to do things is the essence of government The doctrine of self-sacrifice fits perfectly with statism The glaring contradiction of "people are selfish and greedy," so they must be coerced The irrational greediness of governmental bureaucrats knows no bounds The alleged virtue and "good intentions" of government versus allegedly lessor others in the marketplace Most people sense the wrongness of government, but they don't know what to do to fix it; they're not organized, for one thing The nature of integrity in relation to immoral, unjust edicts Feeling isolated by the repercussions for not complying with statists--and fearing being attacked by one's fellow slaves People are really ambivalent about freedom and government Freedom activist Lauren Canario's courageous and independent-minded civil disobedience http://www.youtube.com/tackletheworld http://www.newhampshirefreepress.com/NHFreePress/?q=node/238 Lauren Canario was released from CT Prison yesterday http://www.keenefreepress.com/mambo/index.php?option=com_content&task=view&id=377&Itemid=36 or http://tinyurl.com/y58xuo FTL did an in depth interview with Lauren: http://media.libsyn.com/media/ftl/FTL2006-12-22.mp3 NH: Lauren Canario returns from jail http://www.youtube.com/watch?v=ZZTm-Hiz6Xs The most disturbing documentary about statism, imo: "Taxi To The Dark Side" - Trailer http://www.youtube.com/watch?v=WX0MPcN08Zc (full film, though link may become defunct at some point) http://video.google.com/videoplay?docid=-2987535946644608661 http://en.wikipedia.org/wiki/Taxi_to_the_Dark_Side Five detainees ordered released "forthwith" after seven years at Guantanamo http://www.salon.com/opinion/greenwald/2008/11/20/guantanamo/index.html Goes to show that authoritarian sociopaths have no qualms about putting innocent people in cages for indefinite periods--and torturing them This is why we must strike at the root, at the meme of government itself; people really need to change their perspective about tyranny No good end ever justifies using coercion against innocent people; government actions are never virtuous on account of this "Compensatory justice" (i.e., getting one's "fair share" of the stolen loot) is a non sequitur "Congress" is another widespread term of slavespeak While the Founding Fathers were seemingly more aware of the principles of liberty than today's goons, they still sold out and used coercion Case in point: James Madison, the architect of the Constitution http://en.wikipedia.org/wiki/James_madison JM was instrumental in this: http://en.wikipedia.org/wiki/Second_Bank_of_the_United_States The Constitution authorizes the initiation of force against individuals (e.g., the "power to lay an collect taxes"); therefore it's corrupt and contradictory to the core No 'right person' can be in politics, because he or she refuses in principle to be involved in a coercive institution A Dollar in Peril by Jim Davies http://www.strike-the-root.com/82/davies/davies8.html Creating cognitive dissonance by challenging individuals' statism memes (like voting); voting is violence, plain and simple JD "Voting is one of the most immoral things one can do," because it's all about laying obligations on people STR's powerful non-voting archive: http://www.strike-the-root.com/vote.html The collectivistic meme of the tribal premise http://aynrandlexicon.com/lexicon/tribalism.html & http://aynrandlexicon.com/lexicon/tribalpremise.html What is life if you lose your curiosity?!? A good question to ask others: Are there any aspects of your life that you'd like someone else to govern? Anarchy simply means freedom to make your own choices The youth are the main hope for a better world What if government imploded and collapsed...would people really want it back?...would they miss it?--especially when entrepreneurs would quickly, cheaply, and competently provide any and all desired services If you're getting a shoddy service and you don't like it, you shouldn't have to pay for it What would we do without a communized police force! Police Statism, Arizona style... License-plate scanning catching crooks, raising privacy concerns http://www.azcentral.com/arizonarepublic/news/articles/2008/11/23/20081123autotheft1123.html Contribute to the cause--buy the print edition of Complete Liberty (http://completeliberty.com) http://www.lulu.com/content/687618 bumper music "First They Brand You" (or "dodo-1") by friend and Free Stater Roger Grant http://www.politicalgraffiti.com; couldn't find exact link to comment, please go to http://completeliberty.com/magazine/category/91697