It's perhaps not very popular, but the truth is we don't need central banks.

Central banks came about originally in every country as a cartel of the big banks.

If the government just preserved life, liberty, property, and then you didn't have the legal

monopoly for the central bank, that you would actually maximize the number of small local

banks and the decentralization of it all. Isn't that the case?

That's my main criticism,

you know, they do it in secret because they don't want this power that they have,

and they have used actually for many bad things, like to create a recession on purpose,

to prolong a recession, or to crush a banking system, to cause concentration of the banking system, to create an acid bubble, to redistribute wealth from the many to the few.

What about sound money? Like, what is the role of sound money in rectifying a lot of these

problems? The European Union is modeled on the Soviet Union. You know, the Soviet Union

claimed to be a democracy. Why? Well, it had a parliament. Ah, but the parliament had no power to actually come

up with laws. Well, that's exactly the setup they chose for the European Union. At a particular

time and place, that individual is going to have more knowledge about his craft, his customers

than any centralized institution ever could. That is doomed to failure right from the start. It's impossible.

So we were talking about the tally sticks last time and you brought a couple to show us indeed yes so

here it is this is an example of those tally sticks it's made from hazel wood which is cheap you know

it's like a bush of hazel you know is everywhere it needs to be thick enough so you can carve this into

and and then you do these notches and the notches they follow a formula it's like a key almost

you've got yes you've got the the front and the back on the back if you've got these these

very big notches that is thousand pounds so

this two of them means two thousand pounds like broader than your thumb uh-huh and

...