Latest / Financial Survival Network / Government vs. Crypto: Who Controls the Future? - Dr. Jonathan Newman #6172

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Government vs. Crypto: Who Controls the Future? - Dr. Jonathan Newman #6172 · Financial Survival Network

• 0:00
  Speaker 1: So this is a tale as old as time. You know,
• 0:02
  Speaker 1: governments run up huge debts, they spend way more than
• 0:06
  Speaker 1: they collect in taxes. They try to resort to money
• 0:08
  Speaker 1: printing or monetary debasement to fix the problem. It doesn't
• 0:12
  Speaker 1: fix the problem. It just causes even more problems, and
• 0:15
  Speaker 1: then eventually, you know, the empire withers away.
• 0:17
  Speaker 2: So you're listening to Carrie Leutz's Financial Survival Network where
• 0:21
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• 0:25
  Speaker 2: to thrive in today's trying times. You need the Financial
• 0:29
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• 0:34
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• 0:38
  Speaker 2: Survival Network now more than ever.
• 0:45
  Speaker 3: And welcome you are listening to and watching the Financial
• 0:48
  Speaker 3: Survival Network. I'm your host, Carrie Lutz. Well, we're almost
• 0:53
  Speaker 3: done with electioncies, and thank goodness, that's all anybody seems
• 0:57
  Speaker 3: to talk about or think about at the present. But
• 1:01
  Speaker 3: what is this election really going to solve, if anything?
• 1:05
  Speaker 1: That's what I'd like to know.
• 1:07
  Speaker 3: And doctor Jonathan Newman is with us from one of
• 1:10
  Speaker 3: my favorite organizations, the Mesis Foundation, and I'm a big
• 1:17
  Speaker 3: the Mesis institute. I should say, which is a nonprofit.
• 1:21
  Speaker 3: I'm a big fan booster of theirs. Interviewed many people
• 1:24
  Speaker 3: from the organization over the years. Probably the leading libertarian
• 1:31
  Speaker 3: think tank on the planet, and it keeps growing.
• 1:35
  Speaker 1: Jonathan, it's great to have you on. Hey, thanks for
• 1:37
  Speaker 1: having me on.
• 1:38
  Speaker 3: Hey, So mesis I remember when started the first website
• 1:44
  Speaker 3: for mesis probably about twenty five God, it must be
• 1:47
  Speaker 3: twenty five years at this point, and the organization's really growing,
• 1:52
  Speaker 3: isn't it.
• 1:53
  Speaker 1: Yeah, Yeah, we're doing well. So if people are unfamiliar,
• 1:56
  Speaker 1: the Mesa's Institute is an educational organization that it's dedicated
• 2:00
  Speaker 1: to spreading the message of liberty, especially Austrian economics, which
• 2:05
  Speaker 1: is a particular branch or school of thought in economics
• 2:09
  Speaker 1: that champion is the individual. So we start with an
• 2:12
  Speaker 1: individual's values, their subjective value and the importance of market prices,
• 2:17
  Speaker 1: and that leads us up to, you know, talking about
• 2:19
  Speaker 1: economic calculation, business cycles, and really the whole of economics
• 2:23
  Speaker 1: and so both micro stuff and macro stuff. But what
• 2:26
  Speaker 1: really sets us apart from the mainstream in most people's
• 2:30
  Speaker 1: perspective is the fact that Austrian economists typically come to
• 2:33
  Speaker 1: very free market conclusions. So the prescriptions that come from
• 2:39
  Speaker 1: Austrian economics is very las fair hands off. The government
• 2:42
  Speaker 1: shouldn't be manipulating the money supply, the government shouldn't be
• 2:45
  Speaker 1: manipulating interest rates and posting price controls regulations. So we're very,
• 2:49
  Speaker 1: very free market. So a lot of our educational programs
• 2:52
  Speaker 1: are that have that sort of bent. But one thing
• 2:56
  Speaker 1: that people sometimes criticize Austrians for when that up as
• 3:00
  Speaker 1: they say, oh, you start, you start with the policy prescriptions,
• 3:03
  Speaker 1: you start with free markets, and then you work your
• 3:05
  Speaker 1: way backwards to this sort of economic analysis that would
• 3:09
  Speaker 1: bring you to that conclusion. But that's not the case.
• 3:11
  Speaker 1: If you open up any Austrian texts, especially the big
• 3:14
  Speaker 1: ones like Misis's Human Action or Rothbard's Man Economy and State,
• 3:18
  Speaker 1: you see them building economics from the ground up. You
• 3:21
  Speaker 1: see them talking about individuals acting and markets coming to
• 3:26
  Speaker 1: market prices, and the importance of the profit and loss
• 3:28
  Speaker 1: mechanism for economizing resources. And then only later on do
• 3:34
  Speaker 1: we reach these conclusions that, hey, when the government gets involved,
• 3:37
  Speaker 1: when the government intervenes, we get these bad outcomes. Hey,
• 3:40
  Speaker 1: I just my favorite quote, and I did read Human
• 3:43
  Speaker 1: Action many many years ago. It was a tough read.
• 3:47
  Speaker 3: You know, twelve thirteen hundred pages with a lot of vocabulary. Now,
• 3:52
  Speaker 3: I could just look on the internet and look these
• 3:54
  Speaker 3: words up, like praxeology and a pistol something, right, pistemology, yeah,
• 4:02
  Speaker 3: epistemology things I knew nothing about, but I read it,
• 4:05
  Speaker 3: and I remember one quote that's often attributed to mesis
• 4:10
  Speaker 3: I hope it's true. He says, only government can take
• 4:13
  Speaker 3: a valuable commodity like paper and make it worthless by
• 4:17
  Speaker 3: applying ink and printing money. Right now, they didn't even
• 4:21
  Speaker 3: need to use the paper, they use electrons.
• 4:25
  Speaker 1: Yeah, that's I'm not exactly sure where that quote is,
• 4:28
  Speaker 1: but that does sort of sound like something that Mysis
• 4:31
  Speaker 1: would say. Of course, Well, what he's getting at there
• 4:34
  Speaker 1: is the government intervention in monetary matters and in banking matters,
• 4:39
  Speaker 1: and so what we've seen over the twentieth century especially,
• 4:42
  Speaker 1: is the government took over so many things that had
• 4:46
  Speaker 1: been performed by the market. So we had we had
• 4:48
  Speaker 1: markets for money where under the gold standard, we had
• 4:52
  Speaker 1: gold miners who were getting gold out of the ground
• 4:55
  Speaker 1: and then mentors who were making coins out of it,
• 4:58
  Speaker 1: and that sort of to where the market was selecting
• 5:01
  Speaker 1: the money that it wanted, and it was regulated by
• 5:04
  Speaker 1: the market. It worked very well for thousands of years.
• 5:07
  Speaker 1: But then over the twentieth century, the US government, but
• 5:11
  Speaker 1: also governments around the world, realize that there's a tremendous
• 5:13
  Speaker 1: benefit to being in control of the printing press, tremendous
• 5:16
  Speaker 1: benefit to being able to regulate banking and have the
• 5:21
  Speaker 1: banking system become cartialized. In that way, it's much easier
• 5:25
  Speaker 1: to do government finance. It's much easier for the government
• 5:27
  Speaker 1: to spend as much as it wants and pile up
• 5:32
  Speaker 1: massive amounts of debts. And the reason why is because
• 5:34
  Speaker 1: it has a ready buyer of its debt in the
• 5:37
  Speaker 1: form of the central bank. So really, a lot of
• 5:40
  Speaker 1: people think backwards when it comes to money. They start
• 5:43
  Speaker 1: with the US dollar, they start with the fiat buddies
• 5:46
  Speaker 1: that exist around the world, and then they just sort
• 5:49
  Speaker 1: of project that into the past. It's like, oh, government
• 5:52
  Speaker 1: has always been in charge of money, Government has always
• 5:55
  Speaker 1: been in charge of the printing press, and so this
• 5:57
  Speaker 1: is the way that it ought to be. But of course,
• 5:59
  Speaker 1: as we see throughout human history and also more recent
• 6:03
  Speaker 1: history of the past century, that what has happened is
• 6:06
  Speaker 1: the government has corrupted a very important institution. It has
• 6:11
  Speaker 1: corrupted the monetary sphere to serve its own interests.
• 6:15
  Speaker 3: So one thing Murray Rothbard often was a proponent of
• 6:19
  Speaker 3: was competing currencies. Now we've got these cryptocurrencies, although I
• 6:24
  Speaker 3: call many of them klepto currencies, but something like bitcoin
• 6:30
  Speaker 3: and the others potentially provide that. Although the government now
• 6:37
  Speaker 3: originally they were majorly against it, but now they seem
• 6:42
  Speaker 3: to be more in favor of it.
• 6:43
  Speaker 1: Yeah, the advent of cryptocurrencies has been very interesting, and
• 6:47
  Speaker 1: I think you're right that the main draw to bitcoin
• 6:51
  Speaker 1: is the fact that it's a way to escape from
• 6:54
  Speaker 1: the government managed money and banking system that we have today.
• 6:59
  Speaker 1: It's a way to break free from the government's inflation.
• 7:03
  Speaker 1: It's a way to break free from the banking crises
• 7:07
  Speaker 1: that arise when we have a central bank trying to
• 7:09
  Speaker 1: manage the making system. So a lot of people, a
• 7:12
  Speaker 1: lot of people realize that there's all these flaws with
• 7:14
  Speaker 1: government managed money in banking, and so they view cryptocurrency
• 7:18
  Speaker 1: and especially bitcoin, as a way to escape that. And
• 7:21
  Speaker 1: so for that reason, like I'm a big fan of
• 7:23
  Speaker 1: cryptocurrencies in general, I'm a big fan of bitcoin because
• 7:26
  Speaker 1: it offers that that escape hatch, that way to get
• 7:31
  Speaker 1: out of the system that's managed by the government. And
• 7:34
  Speaker 1: I think that's why the government originally considered as the
• 7:36
  Speaker 1: major threats like what if what if people do just
• 7:39
  Speaker 1: flock to bitcoin, what if people do flock to these
• 7:42
  Speaker 1: these cryptocurrencies and that causes a huge decrease in demand
• 7:46
  Speaker 1: for the US dollar, that we'd have debt crises, we'd
• 7:49
  Speaker 1: have massive inflation. It would be it'd be bad for
• 7:52
  Speaker 1: the for the government because they would lose this ability
• 7:55
  Speaker 1: to use money, to use money printing finance their own spending.
• 8:02
  Speaker 3: It's not just spending though, too. There's no greater power
• 8:05
  Speaker 3: that a country has than to coin its own money,
• 8:09
  Speaker 3: to print its own money, because that means control. Right,
• 8:13
  Speaker 3: he who has the gold makes the rules, the golden rule.
• 8:17
  Speaker 3: It's really the fiat currency rule. He who he who
• 8:21
  Speaker 3: sets the legal tender, right is is in charge of things.
• 8:26
  Speaker 1: Yeah, you're right. And this this goes way back in history,
• 8:29
  Speaker 1: where like you can look at the history of the
• 8:32
  Speaker 1: Roman Empire and what happened over the course of about
• 8:36
  Speaker 1: three centuries or so is they started off with pretty
• 8:39
  Speaker 1: sound money. And we can actually look at you know, archaeologically,
• 8:43
  Speaker 1: we can you know, find these coins and we know
• 8:45
  Speaker 1: what year that they were issued, a year that they
• 8:47
  Speaker 1: were minted, and you can analyze the silver content of
• 8:50
  Speaker 1: those coins. So they were they had the silver denarios
• 8:53
  Speaker 1: and you can actually see the fall of the Roman
• 8:56
  Speaker 1: Empire coinciding with the decrease and the value of are
• 9:00
  Speaker 1: the amount of silver content in each one of their coins,
• 9:03
  Speaker 1: and so what was what was the Roman Empire trying
• 9:05
  Speaker 1: to do? They were doing the same thing that the
• 9:08
  Speaker 1: US government is doing today. They were trying to spend
• 9:09
  Speaker 1: as much as possible. Uh, And they realized that they
• 9:12
  Speaker 1: could debase their coinage. They could introduce these baser metals
• 9:16
  Speaker 1: into the coinage and make more coins, and this of
• 9:19
  Speaker 1: course led to predictable results. You get inflation. They tried
• 9:24
  Speaker 1: to impose price controls and that was disastrous and then
• 9:26
  Speaker 1: eventually the empire, you know, fell apart. So this is
• 9:29
  Speaker 1: a tail as old as time. You know, governments run
• 9:31
  Speaker 1: up huge debts, they spend way more than they collect
• 9:35
  Speaker 1: in taxes. They try to resort to money printing or
• 9:38
  Speaker 1: monetary debasement to fix the problem. It doesn't fix the problem,
• 9:41
  Speaker 1: It just causes even more problems and then eventually, you know,
• 9:45
  Speaker 1: the empire withers away. So you know, hopefully we can
• 9:47
  Speaker 1: have a better story, but right now it doesn't look
• 9:49
  Speaker 1: very good.
• 9:50
  Speaker 3: Right, so we're looking at Traditionally the price of gold
• 9:55
  Speaker 3: was kind of the hedge against this, but the government
• 9:59
  Speaker 3: and the big have figured out how to suppress the
• 10:02
  Speaker 3: price of gold and silver, going back to the London
• 10:05
  Speaker 3: Gold Pool once upon a time, is it possible? Now
• 10:10
  Speaker 3: what we're seeing is them losing control of the price
• 10:14
  Speaker 3: of precious medals.
• 10:15
  Speaker 1: Well, what's interesting is you're right. They tried to you know,
• 10:20
  Speaker 1: they tried to keep the dollar peg to a certain
• 10:23
  Speaker 1: ratio with gold for the longest time. And under the
• 10:26
  Speaker 1: Breton Woods Agreement, that was the commitment of the US government.
• 10:29
  Speaker 1: They said, we'll let all of these countries around the
• 10:34
  Speaker 1: world use US dollars as their reserve currency, and in exchange,
• 10:38
  Speaker 1: the US government will stand ready to redeem dollars for
• 10:41
  Speaker 1: gold at this exchange ratio. So, even though gold ownership
• 10:46
  Speaker 1: had been prohibited in the United States for all the citizens,
• 10:51
  Speaker 1: it was still possible for foreign central banks and foreign
• 10:53
  Speaker 1: governments to redeem dollars for gold. And of course, with
• 10:56
  Speaker 1: Vietnam War, with great society programs. There was a ton
• 11:00
  Speaker 1: of government spending, and of course they financed that with
• 11:03
  Speaker 1: money printing and low and behold, we got the same outcome.
• 11:05
  Speaker 1: We had a decrease in purchasing power, and that would
• 11:10
  Speaker 1: have resulted, and it was starting to result in a
• 11:12
  Speaker 1: gold flowing out of the US and into these foreign
• 11:16
  Speaker 1: governments that were redeeming dollars for gold. And so what
• 11:21
  Speaker 1: happened is in August of nineteen seventy one, President Nixon
• 11:25
  Speaker 1: ended that agreement. He totally closed the gold window where
• 11:30
  Speaker 1: he prevented foreign governments from bringing their dollars in exchanging
• 11:36
  Speaker 1: them for gold. And so what we've had since then
• 11:37
  Speaker 1: is a pure paper fiat system where now we don't
• 11:41
  Speaker 1: even have that constraint on government spending. So it's very
• 11:44
  Speaker 1: important for people to realize one of the main benefits
• 11:47
  Speaker 1: of the gold standard is that it constrained the government.
• 11:51
  Speaker 1: You can't just make more gold, you can't just print,
• 11:54
  Speaker 1: you can't press a button and print up more gold.
• 11:57
  Speaker 1: But you can do that with green pieces of paper.
• 12:00
  Speaker 1: And so now we have this system where the government
• 12:03
  Speaker 1: does not constrained by a gold standard. They're they're they're
• 12:06
  Speaker 1: not constrained in any meaningful sort of way. And so
• 12:09
  Speaker 1: that's that is what has led to this massive increase
• 12:12
  Speaker 1: in the size and scope of our governments because they've
• 12:15
  Speaker 1: had the printing press.
• 12:16
  Speaker 3: And yeah, so the printing press is is the problem here.
• 12:22
  Speaker 3: But governments always do this, right, every government does it.
• 12:26
  Speaker 3: We've seen how many hyperinflations since since why More Republic
• 12:31
  Speaker 3: in Germany.
• 12:32
  Speaker 1: We've seen probably a couple.
• 12:33
  Speaker 3: Dozen of them happen in various places where they kind
• 12:37
  Speaker 3: of lose control of the printing press, right, and then
• 12:42
  Speaker 3: all hill proceeds to break loose when the currency crashes.
• 12:47
  Speaker 3: So one thing I want to talk to you about though,
• 12:49
  Speaker 3: is Argentina. It's kind of become the hope of humanity,
• 12:53
  Speaker 3: hasn't it.
• 12:55
  Speaker 1: Yeah, some some good things are happening in Argentina. You'll
• 13:00
  Speaker 1: find some different perspectives, different perspectives on what Malay is
• 13:04
  Speaker 1: doing among some of the like the purists in the
• 13:07
  Speaker 1: libertarian camp, but like, overall, I'm impressed with what he's doing.
• 13:12
  Speaker 1: So I recently saw it. I just looked at headlines.
• 13:14
  Speaker 1: I didn't do like a deep diving this, but apparently
• 13:17
  Speaker 1: Malay eliminated the Argentinian version of the I R. S
• 13:21
  Speaker 1: Lay has has you know, promised to have balanced budgets,
• 13:26
  Speaker 1: He's brought inflation down, he's you know, getting rid of
• 13:29
  Speaker 1: all of the wokeism that's inside the bureaucracies in Argentina.
• 13:32
  Speaker 1: So overall, just big picture, I'm in favor of what's
• 13:35
  Speaker 1: going on.
• 13:37
  Speaker 3: Imagine that, just getting rid of all of that garbage.
• 13:41
  Speaker 3: So Trump this term right, he's anything but a libertarian.
• 13:46
  Speaker 3: He turned out to be another big government, big spender,
• 13:49
  Speaker 3: big deficits. But now he's promising to put Elon Musk
• 13:54
  Speaker 3: in charge of basically getting rid of or cutting the
• 13:59
  Speaker 3: government down to size. Now, one of the great things
• 14:02
  Speaker 3: about Ai Jonathan is uh I went into chat GPT
• 14:08
  Speaker 3: and I said, like, you know, I want to cut
• 14:11
  Speaker 3: the budget by two thirds and get rid of the deficit.
• 14:15
  Speaker 1: How would I do it?
• 14:16
  Speaker 3: And it came up with a thing of raising taxes,
• 14:20
  Speaker 3: and I said, I want to do it without raising taxes,
• 14:23
  Speaker 3: and I want to get rid of one hundred government
• 14:25
  Speaker 3: agencies instantly.
• 14:27
  Speaker 1: What can I get rid of?
• 14:28
  Speaker 3: And it gave me a list of agencies here I
• 14:31
  Speaker 3: didn't even know existed half of them. I mean the
• 14:34
  Speaker 3: Department of Redundancy, Department. You know, that's the way it
• 14:38
  Speaker 3: works there.
• 14:38
  Speaker 1: Yeah, So I mean that's that is very encouraging for
• 14:42
  Speaker 1: me to see, and I think the people who are
• 14:45
  Speaker 1: a part of this, the libertarian camp, they viewed this
• 14:49
  Speaker 1: sort of rhetoric coming from the Trump campaign as as encouraging.
• 14:53
  Speaker 1: Of course, there's Trump is a mixed bag, you know,
• 14:56
  Speaker 1: there's you know, there's good things that he says about
• 14:58
  Speaker 1: decreasing taxes, decreasing regulation. Like you mentioned, eliminating government agencies.
• 15:03
  Speaker 1: I think probably one of the most important ones is
• 15:05
  Speaker 1: the Department of Education. I would love to see that
• 15:07
  Speaker 1: thing go away. And the main reason there is because
• 15:10
  Speaker 1: of the long term effect on people's ideology. I think
• 15:14
  Speaker 1: that if we have the federal government in charge of,
• 15:17
  Speaker 1: you know, setting curricula around the country, it means that
• 15:19
  Speaker 1: students are going to be presented with a pro government
• 15:23
  Speaker 1: narrative there, and so they're going to be predisposed to
• 15:26
  Speaker 1: agreeing with price controls, agreeing with inflation, agreeing with the
• 15:29
  Speaker 1: institutions that we have as opposed to thinking critically about them.
• 15:33
  Speaker 1: So I think I think that's that's huge. But of course,
• 15:35
  Speaker 1: you know, like you mentioned, Trump's track record in the
• 15:39
  Speaker 1: in his first administration in terms of the size and
• 15:41
  Speaker 1: scope of government is not very good. And so there's
• 15:44
  Speaker 1: this big question, but will he will he fulfill these
• 15:47
  Speaker 1: promises in a potential second term? And of course, I
• 15:52
  Speaker 1: so Trump is a mixed bag, but I don't see
• 15:54
  Speaker 1: anything that's promising or encouraging in terms of the rhetoric
• 15:58
  Speaker 1: or the policy proposals from the Harris camp. So like,
• 16:00
  Speaker 1: if I had to, if I had to pick one
• 16:03
  Speaker 1: over the other, I would definitely favor the Trump side
• 16:05
  Speaker 1: of things, simply because he's got all of this rhetoric
• 16:08
  Speaker 1: about reducing regulations, taxes, and getting rid of agencies.
• 16:12
  Speaker 3: So what happens if you give every first time home
• 16:17
  Speaker 3: buyer twenty five thousand dollars, I really accomplish anything good?
• 16:22
  Speaker 1: Yeah? That was That's one of the more perplexing I mean,
• 16:25
  Speaker 1: I guess I shouldn't be surprised anymore, just given the
• 16:29
  Speaker 1: historically bad policy proposals that we see from candidates broadly,
• 16:33
  Speaker 1: but also presidential candidates. So like, if we're concerned about
• 16:37
  Speaker 1: the cost of home ownership and prices of homes are skyrocketing,
• 16:42
  Speaker 1: and they're extremely high even to this day, then how
• 16:46
  Speaker 1: could you possibly think that just granting home buyers with
• 16:49
  Speaker 1: this twenty five thousand dollars credit would actually help the problem,
• 16:53
  Speaker 1: because all that's going to do is just increase the
• 16:54
  Speaker 1: demand for housing, which will increase the price of housing. So,
• 16:58
  Speaker 1: I mean, it just boggs my mind see these sorts
• 17:00
  Speaker 1: of things. It would do the exact opposite thing that
• 17:03
  Speaker 1: they're saying it would do. All right, So what about
• 17:06
  Speaker 1: borders here?
• 17:07
  Speaker 3: As libertarian, we believe the world is one big, happy
• 17:11
  Speaker 3: place and there shouldn't be borders. But as a practical matter,
• 17:17
  Speaker 3: I guess a lot of what attracts people here is
• 17:19
  Speaker 3: all the free stuff we're giving out. Like I jokingly
• 17:24
  Speaker 3: refer to Biden's three main accomplishments when they ended the
• 17:29
  Speaker 3: US war in Afghanistan and brought the troops home in
• 17:32
  Speaker 3: a week. Number two is he ended the job shortage.
• 17:37
  Speaker 3: And number three is he saved the hotel industry, especially
• 17:40
  Speaker 3: in the New York.
• 17:43
  Speaker 1: Yeah, there's a variety of opinions about the immigration and
• 17:47
  Speaker 1: borders question among libertarians. I don't think it's quite correct
• 17:52
  Speaker 1: to say that libertarians are in favor of open borders,
• 17:56
  Speaker 1: because libertarians are champions of private property, which means that
• 17:59
  Speaker 1: we at least believe in borders surrounding people's individual property
• 18:03
  Speaker 1: that they own. And so what that means is that
• 18:06
  Speaker 1: all of the bad outcomes, all all the issues that
• 18:08
  Speaker 1: we're seeing that are rising from open borders and from
• 18:12
  Speaker 1: government managed immigration policy simply arises from the fact that
• 18:15
  Speaker 1: the government is the one that's managing it. They're subsidizing
• 18:18
  Speaker 1: the immigration, They're making immigration more attract more attractive than
• 18:23
  Speaker 1: otherwise would be. But I think every libertarian would be
• 18:26
  Speaker 1: in favor of a system in which the government was
• 18:28
  Speaker 1: not in charge of that at all, and instead we
• 18:30
  Speaker 1: had private property everywhere, which means that we would have
• 18:34
  Speaker 1: we would have the market regulating immigration, so we would
• 18:37
  Speaker 1: get the we would get the labor coming across the
• 18:40
  Speaker 1: border that the market demands, and no more and so
• 18:44
  Speaker 1: and so. I think what we have now is just
• 18:45
  Speaker 1: a gross distortion of what we would have if we
• 18:48
  Speaker 1: had unhampered markets for land and for labor.
• 18:52
  Speaker 3: All right, well, yeah, you got to have some uh,
• 18:58
  Speaker 3: some controls in place, you know. This is the thing.
• 19:02
  Speaker 3: I had this discussion with somebody today. Interstate highway system. Right,
• 19:08
  Speaker 3: I don't as a former attorney, I don't see anyway
• 19:12
  Speaker 3: this system could have been built privately. I just don't
• 19:15
  Speaker 3: see it. Maybe I'm wrong. You know, some of my
• 19:19
  Speaker 3: best friends are libertarians and they fight me tooth and
• 19:23
  Speaker 3: nail on that. But the complexity of it, the need
• 19:28
  Speaker 3: to acquire property, and then you're always going to have holdouts.
• 19:31
  Speaker 3: And I'm a big believer in private property too. How
• 19:36
  Speaker 3: do you how do you build an interstate highway system
• 19:39
  Speaker 3: without the government.
• 19:41
  Speaker 1: Well, so I would encourage interested listeners to look at
• 19:45
  Speaker 1: some of the more in depth research and literature that's
• 19:50
  Speaker 1: that's been done on this topic of how the how
• 19:52
  Speaker 1: the how the market would provide a road system. I
• 19:56
  Speaker 1: think personally, I think that it can be done. But
• 19:58
  Speaker 1: also I think that this, like this issue is one
• 20:02
  Speaker 1: of the most it's very very low on the totem pole.
• 20:05
  Speaker 1: I don't think it like this is an important one. So, like,
• 20:07
  Speaker 1: if I can get somebody to agree on all of
• 20:10
  Speaker 1: the other issues, the government should get out of money
• 20:11
  Speaker 1: and banking, the government should get out of imposing price controls,
• 20:15
  Speaker 1: the government should get out of education, we should eliminate
• 20:18
  Speaker 1: all of these different government agencies. But if the last
• 20:21
  Speaker 1: thing that they're holding on to is you know, roads, courts,
• 20:23
  Speaker 1: police and that sort of thing, then I would I
• 20:26
  Speaker 1: would say Okay, fine, we'll agree to disagree on those
• 20:29
  Speaker 1: sorts of things, because then we'll do with that issue
• 20:33
  Speaker 1: when the time comes. But right now, I think we
• 20:34
  Speaker 1: have like very important issues like the business cycle and
• 20:37
  Speaker 1: like the loss of purchasing power, and like you said,
• 20:40
  Speaker 1: the immigration issues that are plaguing the United States and
• 20:44
  Speaker 1: countries around the world. So, just in short, to summarize
• 20:48
  Speaker 1: my answer, I do think that the market can provide roads,
• 20:52
  Speaker 1: including an interstate highway sort of system, based on private
• 20:56
  Speaker 1: property and market prices and profit and loss associated with
• 20:59
  Speaker 1: making those roads. But it's not that's not something that
• 21:03
  Speaker 1: I wake up in the morning and think, Okay, I
• 21:05
  Speaker 1: got to go convince people that we can have a
• 21:08
  Speaker 1: private road system.
• 21:10
  Speaker 3: Yeah, I agree, in the scheme of priorities, it's not
• 21:13
  Speaker 3: very high up there. But but you know, and I
• 21:16
  Speaker 3: remember seeing a funny meme in Florida. Here, you know,
• 21:20
  Speaker 3: they're always watering the islands that are plush, but of
• 21:24
  Speaker 3: course they wind up watering the street and and it
• 21:28
  Speaker 3: was a meme it said, without government, who would who
• 21:32
  Speaker 3: would water the streets? I like that, Hey, Jonathan, how
• 21:39
  Speaker 3: do we find you? How do we connect with you
• 21:41
  Speaker 3: on the web, and how do we find out more
• 21:44
  Speaker 3: about mesas dot org.
• 21:46
  Speaker 1: So I'm I'm pretty active on Twitter and i as
• 21:49
  Speaker 1: you can find me just to search for Jonathan Newman.
• 21:52
  Speaker 1: But also I write pretty regularly for our website, mesas
• 21:56
  Speaker 1: dot org. And so we've got a great website with
• 21:58
  Speaker 1: tons and tons of resources, more resources, more literature than
• 22:01
  Speaker 1: people can read in a lifetime. And so I highly
• 22:05
  Speaker 1: recommend people check out our website. And also a special
• 22:08
  Speaker 1: offer for your listeners. If you go to mesis dot
• 22:11
  Speaker 1: org slash my Money, that's M I S e S
• 22:14
  Speaker 1: dot org Slash my Money, then you can get a
• 22:17
  Speaker 1: free copy of Murray Rothbards What Has Government Done to
• 22:21
  Speaker 1: Our Money? It's a great little book, very approachable, very
• 22:23
  Speaker 1: easy to understand, that explains how government has taken over
• 22:27
  Speaker 1: money and banking in the United States and around the world,
• 22:30
  Speaker 1: and what that is, what that has done to cause inflation,
• 22:33
  Speaker 1: what that that is done to cause business cycles, and
• 22:36
  Speaker 1: so some proposals about how we should, you know, take
• 22:38
  Speaker 1: money and banking back from the state and have it
• 22:41
  Speaker 1: returned to the market. So once again that's mesis dot
• 22:44
  Speaker 1: org slash my Money.
• 22:45
  Speaker 3: Come check it out, and that's in the link to
• 22:48
  Speaker 3: that is in the show that to this interview on
• 22:50
  Speaker 3: Financial Survival Network dot com. While you're there, please sign
• 22:54
  Speaker 3: up for your free newsletter. Got a lot of great
• 22:57
  Speaker 3: info going out. Summaries of all the podcast to take
• 23:00
  Speaker 3: place day by day, I probably do I think over
• 23:04
  Speaker 3: nine thousand of them, and I started this channel. Jonathan,
• 23:08
  Speaker 3: sure you're enough familiar with it, but basically as a
• 23:11
  Speaker 3: reverse or an Austrian approach to what was going on
• 23:15
  Speaker 3: after the financial crisis, because of course free markets were
• 23:19
  Speaker 3: blamed for that when it was purely a work of
• 23:22
  Speaker 3: government to neglect. Maybe it was intentional. Maybe there's a
• 23:26
  Speaker 3: little bit of both there. So if you got a
• 23:28
  Speaker 3: question for Jonathan or myself, shoot me an email kl
• 23:31
  Speaker 3: Atcarrie lets dot com. We'll get you an answer quick. Jonathan,
• 23:35
  Speaker 3: appreciate you coming on. We'll have you on again soon.
• 23:37
  Speaker 1: Yeah, thanks for having me, and kudos to you and
• 23:39
  Speaker 1: congratulations for the long run. Keep up the good work.
• 23:41
  Speaker 2: Thanks for listening to Carrie Letz's Financial Survival Network your
• 23:46
  Speaker 2: solution to today's trying times. For the latest, go to
• 23:50
  Speaker 2: Financial Survivalnetwork dot com. Financial Survival Network now more than
• 23:56
  Speaker 2: ever