As part of Antiwar Radio’s week long series on the economic crisis in association with Ron Paul’s Campaign for Liberty, Lew Rockwell, president of the Ludwig von Mises Institute, discusses Thomas Jefferson’s theory of inflationary money and the business cycle, the history of fiat money in America and around the world from Marco Polo’s adventures through Massachusetts Bay Colony, the Revolutionary War, 1812-14, Andrew Jackson’s battle with Biddle, Lincoln’s greenbacks, the Gilded Age, progressive era tyranny of Woodrow Wilson, passage of the Federal Reserve Act, the World Wars, Great Depression, Cold War, Terror War, current multi-trillion-dollar bailout, the end of the empire, and the heroic Ron Paul.

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