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

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.

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Kibbe on Liberty is a weekly podcast with libertarian author, economist, and community organizer Matt Kibbe. As the president of Free the People, Kibbe has decades of experience in the libertarian political sphere, but in these troubled times he believes that open dialogue is needed to bring people together. This means being willing to talk, and especially listen, to those with whom we might not always agree, trying to understand perspectives that might otherwise be foreign to us.

Kibbe on Liberty's growing roster of guests includes politicians, economists, comedians, writers, radio personalities, activists, journalists, and even a magician or two—with topics of conversation ranging from current affairs to craft beer and the Grateful Dead. So grab a cold one, and settle in for the next hour of Kibbe on Liberty, mostly honest conversations with mostly interesting people.