Thorsten Polleit on the gold standard that never was

The distinguished and forthright Professor Thorsten Polleit explains why we’ve failed to see a real free market money for several hundred years…

Episode 115: Professor Thorsten Polleit, whom recently founded Polleit & Riechert, an investment management company, is an economist who specialises in the Austrian School of Economics, sits with Andy Duncan at the Austrian Economics Research Conference 2013.

Thorsten delivered a speech at the conference entitled “The gold standard that never was.” This speech, which is discussed, details the conditions Thorsten sees as being necessary for a gold standard to be compatible with free market principles.

Thorsten is an advocate of a 100% commodity backed currency and explains how this would work with regards to the banking system.

No central banking, no tender legal laws and no government involvement in the monetary system; radical ideas or a sensible approach based on the axioms of human action.

Professor Polleit leaves us with a lot to ponder.

This podcast was recorded on 22 March 2013 and previously published at The Euro Vigilante.