Rothbard provides a succinct account of the origins of money, showing how money must originate from a commodity. Banking originated from goldsmiths, who issued warehouse receipts for gold deposited with them. From this a fractional reserve system developed, inherently prone to monetary expansion and panic. Read by Dr. Floy Lilley. The full text is available online here. Download the complete audio book (25 MP3 files) in one ZIP file here. This audiobook is also available on Apple Podcasts, Google Podcasts, and via RSS.
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