Tag: Financial History

The Real Cause of The Great Depression with Robert P. Murphy – Part 1 (Ep. 49)

The Real Cause of The Great Depression with Robert P. Murphy – Part 1 (Ep. 49)

When people hear “The Great Depression,” most think of 1929’s market crash. 

But in this eye-opening conversation, economist Dr. Robert P. Murphy takes us further back, to the real roots of America’s central banking system and how its evolution may have done more harm than good.

From 19th-century boom-bust cycles and railroad speculation to the secret meeting at Jekyll Island that led to the Federal Reserve Act of 1913, Dr. Murphy brings clarity to a history often clouded by politics, panic, and policy spin. He explains why the Fed was created, how it was originally intended to function, and what it’s become today.

What to expect:

  • The Austrian School’s take on boom-bust cycles
  • How JP Morgan acted as a “private Fed” in 1907
  • The truth behind the Jekyll Island meeting
  • Why 1920–21 proves government intervention isn’t necessary
  • And more!

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About Our Guest: 

Robert P. Murphy is a Senior Fellow at the Fraser Institute and Chief Economist at Infineo and author of the widely acclaimed book, Choice: Cooperation, Enterprise, and Human Action. He is also a Senior Fellow with the Mises Institute. He received his Ph.D. in economics from New York University. Previous positions include Research Assistant Professor with the Free Market Institute at Texas Tech University, Visiting Assistant Professor of Economics at Hillsdale College, Senior Economist at the Institute for Energy Research, Visiting Scholar at New York University, Research Analyst at Laffer Associates, and Senior Fellow in Business and Economic Studies at the Pacific Research Institute. Prof. Murphy runs the blog, Free Advice, and hosts the podcast, The Bob Murphy Show

He is the author of The Politically Incorrect Guide to Capitalism, The Politically Incorrect Guide to the Great Depression and the New Deal, The Study Guide to Man, Economy, and State with Power and Market, The Human Action Study Guide, The Study Guide to The Theory of Money & Credit by Ludwig von Mises, and Lessons for the Young Economist. He has also written hundreds of economics articles for the layperson, has given numerous radio and television interviews on such outlets as Fox Business and CNBC, and is active on Twitter (@BobMurphyEcon).

History of Money – Part 2 (Ep. 48)

History of Money – Part 2 (Ep. 48)

Is the U.S. dollar’s dominance on shaky ground, or are the headlines just noise?

In this episode of Prescribing Prosperity, John and Alex Soutsos break down the history of currency, from bartering and gold standards to modern fiat systems. With humor and sharp insight, they tackle a question that’s swamping inboxes everywhere: Are BRIC nations threatening to dethrone the dollar as the world’s reserve currency?

This episode is anything but dry. Expect throwbacks to Blockbuster, riffs on dynasties, and deep dives into Bretton Woods, Nixon’s gold pivot, and why trust, not just gold, is the real foundation of any economy.

What to expect:

  • How reserve currencies rise and fall
  • The role of the military, liquidity, and law in global trust
  • Why digital currency won’t stay neutral
  • The Canadian perspective on U.S. fiscal power
  • And more!

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Historical Market Crises Part 2 (Ep.7)

Historical Market Crises Part 2 (Ep.7)

The conversation about historical, influential financial events continues in this second part of “Historical Market Crises” with John & Alex Soutsos!

In this episode, John and Alex discuss some monumental moments in financial history including the Tequila Crisis in Mexico in 1994 and the potential impact of the current Israel-Hamas conflict on the financial markets. 

They also touch on the Asian financial crisis, the failure of Long-Term Capital Management, the dot-com bubble, and the global financial crisis of 2007-2009.

John and Alex discuss: 

  • The Tequila Crisis of Mexico in 1994 – how currency movements impact the financial markets
  • The Asian Financial Crisis and how it impacted hedge funds like Long-Term Capital Management
  • How interest rate manipulation fueled both the Dot Com Bubble and the Global Financial Crisis 
  • The importance of “sticking to the process” as an advisor and an individual investor
  • And more

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