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hi my name is mark and i teach economics the purpose of this video is to discuss the economic theory behind the elimination of the federal reserve heres the theory its good to be the king what does that mean it means in the middle ages if you were the king or in the kings court and you were close to this the nobles you would receive all the riches all the benefits you were the first receivers of the money people the peasants in the far distant docHubes of the kingdom of the empire would receive trickle-down theory so similar with the federal reserve the federal reserve is a economic monopoly and theres a lot of theoreticians economists going back to uh you know the debates of john law and turgot the french economist and mises hayak and keynes all these people engaged in the idea that monetary policy may or may not be good heres the underlying premise the economic theory behind the elimination of the federal reserve is the federal reserve is a monopoly monopolies create productive a