Hello everybody and thank you for tuning into the Liberty Report.

With us today is Chris Rosini, our co-host, Chris, welcome to the program.

It's great to be with you, Dr. Paul.

Good.

We'll be talking about money today, real money and bad money and counterfeit money.

A lot of people have sorted this out already but there are a few people who still wonder

about it.

In the principle we want to deal with today is friction reserve banking and the title

of our program today is talking about legalized counterfeit and most of the people that come

to our station and our report here understand that there's a lot of fake money going around.

The whole thing is and understand what fiat money is and when that was delivered to us

on a platter way back in 1971 and now we're seeing the consequence of it.

So we're in the midst of financial and banking crises, we're in the midst of inflation

which is really the excessive creation of new money by government and the federal reserve

but the people see it as the increasing prices and we're seeing a lot of that and a lot

of people are concerned.

The irony of all this is over the last ten years the Fed policy was they were working hard

to get price inflation stimulated.

They were worried about that.

No price inflation means the economy must be weak and we have to do it but they also knew

that if you inflate the currency and to base the currency with some counterfeit it also

reduces real debt but it reduces real wages as well.

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