SBTV speaks with Jeff Deist, President of the Mises Institute, about how convoluted economics is today when it is dominated by Keynesian ideas and the Federal Reserve’s practice to throw mismanaged banks a credit lifeline through bailouts and quantitative easing.

Discussed in this interview:

• 03:07 Government having too much power
• 07:00 End the Fed?
• 09:46 Who will be the lender of last resort? (Mismanaged banks are not penalized today)
• 16:47 Mainstream dominated by Keynesian economics
• 23:59 Austrian perspective: Why do recessions and crashes happen? 29:59 Cause of the next economic crisis
• 34:49 How will the transition to new monetary system look like?
• 39:49 If the US dollar was still convertible in gold today

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