An introductory video by Dr. Edwin Vieira to monetary theory and science that discusses the difference between money, money substitutes and currency.
Rep. Ron Paul sponsored this Congressional lecture on "What is Constitutional Money?", part two of a three part series on the basic principles of money for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public.
The lecture was delivered by Edwin Vieira, Jr., J.D., Ph.D, the author of the definitive work on Constitutional money, Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution.
Dr. Vieira's lecture explores the development of the American monetary system from colonial times through the creation of the Federal Reserve System, explaining the constitutional underpinnings of our money and the erosion of that legal framework over 200+ years of monetary history. He also explains his plan to return to sound money, outlining the grim ramifications of continuing on a fiat money standard.
The current instability in the financial and monetary system is predictable and will intensify. The Information Age will require a whole new level of currency to be used in daily transactions.
After you have viewed this introductory video you will be ready for Monetary Theory 102.