After you have viewed Monetary Theory 101 you will be ready for Monetary Theory 102.

Rep. Ron Paul sponsored this Congressional lecture on "What is Money?", part one of a three part series on the basic principles of money for Congressional staff.

As a continuing educational tool this lecture was filmed and is provided to the public. Joseph T. Salerno, Ph.D., delivered the lecture. He is academic vice president of the Mises Institute, professor of economics at Pace University, and editor of the Quarterly Journal of Austrian Economics.

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Thomas Jefferson and Andrew Jackson understood "The Monster". But to most Americans today, the Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.

Rep. Ron Paul sponsored this Congressional lecture on "What About Money Causes Economic Crises?", the concluding lecture in a three part series on the basic principles of money for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public.

The lecture was delivered by Peter Schiff, CEO of Euro Pacific Capital and author of Crash Proof: How to Profit From the Coming Economic Collapse and How an Economy Grows and Why It Crashes. Mr. Schiff explains the fact that the interest rate is a price and that manipulation of that price results in real changes to the capital structure and structure of production within the economy, causing imbalances, booms, and eventually busts in the economy.

His lecture also explores how government intervention through labor and employment policies results in diminished employment and an overall reduction in the standard of living.

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