Fed Economist Advice: "Don't Hold On to this Stuff (Fiat dollars)!"

In this report I look at a TV debate back in the 19070s in which St Louis Federal Reserve Bank economist admits that holding on to Federal Reserve notes or paper dollars is a losing proposition over time. In the interview Dr Karnosky debates Merrill Jenkins who wrote the book entitled "Money: the Greatest Hoax on Earth".

I highly recommend people listen to the debate in which Mr Jenkins arguments clearly push the Fed economist to admit that our current dollar bills or Federal Reserve notes are not money or even promissory notes. According to Mr Jenkins gold and silver commodity money or specie unlike fiat money are able to extinguish debt.

Here are the links to Mr Jenkins' book, the TV debate and one of Mr Jenkins interview on TV as well:

"Money: the Greatest Hoax on Earth: by Merrill Jenkins: http://www.allthatstreaming.com/pdf/money-the-greatest-hoax-on-earth-text.pdf

Jenkins v Karnosky Debate:

Jenkins interview:

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