In today’s Coffee, Part 1, Joe distinguishes between debt-based (what we have now) and debt-free fiat money systems and explains why the debt-free solution is superior to reforms suggested by Austrian economists (like Peter Schiff), such as free banking and commodity (i.e. gold) backing.
In Part 2, Joe discusses the mythology behind the Continental, the debt-free currency that allowed the colonies to fund the revolutionary war independent of the european bankers, as well as the hyperinflation of the Weimar currency in the 1920s. He recommends students read Stephen Zarlenga’s “The Lost Science of Money” for more detail.