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Alec Baldwin on Ending The Fed, Ron Paul, SEC & Bank CorruptionYouTubeOct. 19, 2011 |
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 Interesting video, he's clearly pro-capitalism but wrongly thinks the Fed is needed to provide money to markets. All that does is distort markets and exasperate the business cycle. See Austrian Business Cycle Theory. Money is the most highly salable good in society, so in a free market, gold, for example, would likely emerge as the new market money and unit of account, private banks would issue currency backed by the gold they had in reserves, and reserve ratios would be kept high (or even 100%) in order to be able to cover deposits in case of a bank run. See The Theory of Banking by Hans-Hermann Hoppe or The Case for a 100 Percent Gold Dollar by Murray Rothbard. To simply switch to having congress print the nation's money would change nothing and likely make things worse. See my article Ellen Brown and the Secret of Oz's Hyperinflationary Dreamworld - Chris Alec Baldwin showed up Tuesday night at Occupy Wall Street and talked to Luke Rudkowski, Rob, and Matt of We Are Change about Ending the Federal Reserve Banking System. 
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