Erection book tv, with top nonfiction books and authors every weekend. Look tv, television for serious readers. The name of the book a scandal of money. While austria recovers but the economy never does. The author is george gilder, you opened with a quote, the source and root of all monetary evil is the government monopoly on the issue and control of money. Is there an alternative . There is. Gold is the most obvious because money is really a measuring step. It has to measure value. A measuring stick cannot be part what it measures. If the government treats money as a magic wand to stemming Economic Growth by fooling entrepreneurs about the meaning of the crucial price signal that govern other opportunities, then you have the kind of stagnation we are experiencing today. It is worldwide stagnation suites is not simply bad policy in the united states, its systemic throughout the world. Systemic affliction is your version of the meaning of money. So this question and evaluation it throws into question. Its like that money today. International exchange treasurer today trading currencies back and forth is 73 times bigger than all trades and goods and services put together. Twentyfive times more bigger than all gdp. It doesnt even arrive at monetary values that anybody can trust. When money is a model home horizons and the economy shrink. Is this book a call to the return of the Gold Standard . Its not a return because money is real and gold is real. Gold is the standard of value and money is measured against gold. A particular paper currencies is ultimately measured by gold. Will be measured against new crypto currencies on the internet. Its not going back to anything. Technology is making possible restoration. We talk about internet currencies, what are you talking about . Line was the first put the global currency that was launched on the internet and transcends National Borders and enables bypassing law big third parties wall gardens of the internet like google, facebook, apple, all of these giant companies. Once had dominate the internet are bypassed by a new economy based on global money that is burger down. Host but does this crypto money physically exist . Guest no. Money has to be scarce. If money is not scarce the cant really function as a measure of the value of other things. If you imagine what remain scarce when Everything Else becomes abundant. The time. And gold is a symbol of time. The time it takes to extract it. But coins are scarcely measured by the time it takes to virtually minute across the internet. Time is what money does. When Interest Rates go to zero, and zeros out time. And you grant, choose a great expert on currency. Is a zero Interest Rates are like eliminating the shot clock in a basketball game. If you eliminate the shot clock everyone or just about back and forth for the whole game, keeping it away from whoever. Ten Interest Rates does not spur the economy, they blow the economy. The influence of time. Nothing happens. Its happening in the u. S. Economy is the number of companies in the stock market has shot 50 since 2007. The number of shares have dropped 50 . The stock market boom is a product of a massive shrink and i think a key problem is the lack of any global money is increasing previous translation. A corporate profits are now in finance. From this massive 5. 1 trillion a day of currency trading. Host how does one buy a calling with that coin . Guest im sure lots of cars have been bought by bit coins. I think maybe you can buy a tesla. Some companies have announced they will sell them. You can convert your big clients which have been appreciating 2. That might be a good thing to do and purchase a car with the. Code anyone by bickley . Guest yes pgh so, dollars would it take to buy one today. Over 1000. Almost like amounts of gold. Guest recording and golder starting to converge. It will tend to converge with gold because gold is the u. S. Senate money throughout history. The abandonment of gold in 1971 began this long era of stagnation in the grantor economy. Back in the 1850s and 60s in this country, everybody was printing money theres all sorts of currency. It led to chaos didnt it . When the Cato Institute has done lots of studies with free banking in scotland in canada and the united states. It works pretty well but the fact was a lot of other things were going on during that time in the transition from free banking to the central bank theres lots of change and so free banks located in all the different states was not suitable for national economy. Just like free banks today should be global banks rather than banks restricted to specific states like medical insurance its confined to specific states. It is our quality break up your market. Back in the free banking days, and that means anybody can print their own currency and competition judge its worth. Guest you cant go back. Increasingly we now have an internet avenue for new growth globally. Global internet really needs a global money. Thats what the digital age supply. Various digital forms of gold that ultimately are rooted in goal. And accompanied by a black chain that is a amenable database that you can permanently record all of the transaction and make them visible to everybody. Host in your book, scandal or money you say that the internet desperately needs a new Payment Method that conforms to the shape and reach of Global Networking and commerce. How many people are using other crypto money . Its a Massive Development right now. Crypto currency and their ico which our initial coin offer are now raising more money than all venture capitalists put together and all ipos together. There has been some 50 icos that are responding to the collapse of ipos all regulated by the fcc and all the rules to Public Companies that have resulted in a 50 shrinkage. Now, the crypto world has generated the answer. The first one is brandon ike who was one of the founders of netscape and javascript which is the major language used across webpages. He has a new browser which works with but coin and micro payments and he raised 38 million including offer. Another racer hundred 50 million a few weeks ago. There have been scores of the initial crowdfunding offering that were made possible by the jobs act that made it easier to do these crowdfunding jobs. They really addressed this big crisis. No ipos for months on end to now scores of these large, multimillion scores of milliondollar issuances and tokens and currency that dont sell equity because that would be regulated but sell other components of value in the company. Brenda makes idea is an Attention Token so in order to use your data, google, facebook would have to pay you will get you to accept an ad on their screen they would have to pay you and micro payments. There is a new company best to for yourself that is rebuilding an entire new internet based undistributed structure of crypto currency. The Biggest Development and finance in the last 25 or 30 years. Weve been talking to george about his most recent book, the scandal of money. While wall street recovers but the economy never does. This is your 20th book. You have one coming out shortly. Yes, life through google. The internet started as a distributor system. Anybody could play. It has since developed into a set of empires of giant Information Companies like google, facebook, amazon, all these giant companies are fragmenting the internet. The problem is if the internet is a Global Network its run by google, apple, amazon or facebook, why not the chinese communists. If google can have an internet a couple of nerds from michigan can stop internet one at the chinese . When at the europeans, what is happening as a result of this new topdown Cloud Computing base internet that google and all are creating is the breakdown of the Business Model for all of these companies. Europeans are cracking down. The chinese are cracking down. These companies no longer have an open future. The internet has to change and get a new model of security that can actually protect your data and pay you for your contributions to the well the internet company. The rings right today. Host thank you for your time. Guest thank you. Here is a look at some of the best books of the year according to publishers weekly. In, and simones elephants, the described the Family History and up bringing in india. Been a photographer in post civil war america known for his spirit photography in, the abolitionists. City university of new york professor explores how cities could be affected by Climate Change in extreme cities. Kim phillips recalls the fiscal collapse of new york city in 1975 and Heather Bresch with bankens bankruptcy reshaped ideas about government. Wrapping up his the colorful, richards report on whole how local, state and federal legislation is responsible for america segregated cities. Today those homes suffer through 400,000. Africanamerican families prohibited from moving into the house and rented apartments did not gain two or 300,000 in equity. White families gained that equity in today those homes are unaffordable. 100,000 in 1940 in our terms is twice the National Median income. Today there seven times workingclass families can to move todays suburbs. So today, nationwide we have a ratio of income africanamerican income on average is about 60 . Africanamerican wealth is about 5 . This enormous difference between 60 income ratio of 5 wealth ratio is almost entirely attributable to unconstitutional federal housing policy practice in the 1930s, 40s and 50s. Some of these authors have or will be appearing a book tv. Watch them on booktv. Org. This is the chapter on ways you can get to space cheaper than the rocket method. The think is a few different paradigms, some are ready happening jose totally implausible. This talk about a few of them. We should talk about reusable rockets which is starting to happen. The ideas to make rocket travel more like plane travel. The mansion wanted to fly to los angeles, jumped out and the plane exploded in the Pacific Ocean, it would be cool but expensive thats essentially what we do now is rockets. So, why it costs to match is because of the way rockets work right now. The ideas he could get the most expensive part of the machine back you can save money. As these things go, thats not too bad. Spacex is able to do this in the later part of a rocket and you might wonder how they came up part of a rocket. Its like three rocket stacked on top. Once youve used up a chunk you want to carry the dead weight dropped into the ocean. So they are able to take the first one landed on a barge. Thats a good first step thinking on musket so they could get it down then you could end up with a reasonable number. Most people said 30 or 40 . Thats whats happening now. The talk about other technologies were told about by the nasa group including putting a rocket on a giant entrance. A pogo stick. Powers et cetera was the idea of a space elevator. Thats three parts. A stationary put on the ocean that stays in place. A gigantic cable, and a counterweight. In this case its a big rock. Then an elevator that climbs it. The elevator slowly goes at the cuba. The people interested estimate they could get staff and space for about 250 per pound. Right now across about 10000 per pound. So 250 per pound would be amazing savings. The main thing they need to figure out is the middle part. The middle part is cap important. The problem is it needs to be really strong but also cannot weigh a lot. Needs to be 6,262,000 miles long. Somewhat recently there was the discovery of carbon nanotubes, the configuration of carbon nanotube of a hair. Its converting. Together we know all the information. So do about a foot and a half long. You may remember it needs to be 62000 miles long. It looks like it might be Strong Enough to do it. But a problem coming up is that economics might be the thing that makes it not happen. For terrestrial based purposes you only need about a foot and a half of carbon nanotube to do anything. At first it was like if you drop the projections and then it just flattened out. So you could be the person to make it long enough if you can get that moving again. If you can think of an earth based reason why we need carbon tubes. So, the other problem with the middle part is that if you can get the carbon nanotube long enough to not very good if theres lightning. Were asking nasas group about what to do about lightning . Apparently theres a small area in the Pacific Ocean that has never experienced a lightning bolt. The answers to put it there and hope path tells us what we need to know about the future. You can watch this and other programs online