The surprisingly contentious history of American money. The hosts trace debates over gold, silver, paper currency, central banking, and the meaning of money itself — revealing that monetary policy has always been among America's most divisive political issues.
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Highlights
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Every monetary debate is really a debate about power
Gold vs. silver, national bank vs. no bank, Fed vs. free banking — every American monetary debate is ultimately about who controls the money supply and whose interests it serves.
Money requires trust — and trust requires institutions
A dollar bill is a piece of paper. Its value depends entirely on collective trust in the institutions that back it. When trust collapses (as during the Continental currency crisis), money becomes worthless overnight.