Ep 222 | The Banking System Is a House of Cards | Guest: Peter St. Onge

In the midst of yet another American banking crisis, the so-called experts are at a loss to explain how these crises keep happening. But there is an answer, and it’s one that Austrian economists have known for more than a century. Matt Kibbe talks to Peter St. Onge, research fellow at the Heritage Foundation, who explains how our system of fractional reserve banking is a house of cards that is founded on the lie that the same dollar can be in two places at once. Simply put, the banks are so fragile because they are already insolvent—even when things seem to be going well. This issue can be solved, but it requires rethinking the way we bank and getting the government out of the money business.

Om Podcasten

Kibbe on Liberty is a weekly podcast with libertarian author and economist, Matt Kibbe. Kibbe believes that honest conversations, driven by intellectual curiosity and mutual respect, can ignite a new revolution of free thinking and a willingness to question the official narrative. That means talking, and listening, to a wide variety of people outside the echo chamber of officially sanctioned experts.  Kibbe on Liberty's guests include politicians, economists, musicians, comedians, writers, radio personalities, activists, journalists, and even magicians—with topics of conversation ranging from current affairs to obscure philosophy, from craft beer to the Grateful Dead. Cold one in hand, settle in for the next brain-stimulating hour of Kibbe on Liberty. As the president of Free the People, Kibbe has decades of experience in the libertarian political sphere. He is the author of three books, including Don’t Hurt People and Don’t Take Their Stuff, a #2 NY Times Best Seller. Kibbe is a fanatical DeadHead, drinker of great whisky, and collector of obscure books on Austrian economics.