Watch the whole 40-minute video at http://www.goldmoney.com/jovanovic-interview . Pierre Jovanovic (http://www.jovanovic.com) talks to James Turk about the consequences of the popping of the Mississippi bubble, with bank runs, stock panics and street riots as investors in the Mississippi company’s shares demanded their money back and then, as the bank notes issued by Law also lost value, the whole country fled paper money, despite attempts to impose it by governmental decree. They talk about the consequences of the speculation unleashed and more importantly about the disastrous outcome of banning the use of gold and silver in commerce, in an attempt to force the use of paper money by governmental fiat, when the people started to mistrust and reject the paper banknotes. Pierre explains the Faustian bargain involved in fiat money.
