I have a certain sense of almost worship for the free market and anybody blaming the free all of the ills on sale in society on the free market is spreading misinformation and it proves that they do not understand what the free market is we currently do not have a free market we have the free market capitalism does not exist we have manipulated market cronyism now cronyism you know a capitalist has to survive and and tries to become wealthy by creating a great product and and and appealing to you to buy his product instead of


somebody else's so he's got to offer you a better product at a better price there's this this balance that they're always trying to strike to figure out what is going to make you open up your wallet and vote for their product with your currency you are casting a vote every time you open your wallet for what you want and the people that do that better gain market share and by serving the maximum number of people possible that is how you get rich the free market is this wonderful wonderful mechanism


and I'll provide a link to a paper that was written by a great economist Leonard eread it's called I pencil and you can go and get that it's it's on our website we're putting that out as a newsletter it is absolutely brilliant there's also a video on it but please read the paper it's only like three pages it's really short and it is so simple and you know I have such respect for the free market that I choked up when I read this I mean I get emotional it brings a tear to my


eye but I'm sort of weird that way now when it comes to manipulated market cronyism versus free market capitalism that we have a manipulated market the cronyism is when businesses get to lobby the government for special favors and special laws that limit competition and like for instance the Affordable Health Care Act entrenched all of the insurance companies and all of the drug companies so that and with regulation when you put a whole bunch of regulation small companies can't get into the business and afford to deal


with all that regulation when you free up all of that regulation and and you don't have something like this 19,000 page document the Affordable Health Care Act small companies can get in and they can try to compete but cronyism is where you have the government deciding who's going to win and who's going to lose and they do that with regulation and laws and spend all these special interest groups being able to lobby Congress and so on when it comes to manipulated markets that we have a manipulated


currency you half of every transaction is the currency involved when you buy something you buy it with currency when you sell something you're accepting currency so it's fifty percent of every transaction if that currency is being manipulated through interest rates and currency creation by a central bank now when the central bank artificially reduces interest rates it causes the banks to expand the currency supply for them the Federal Reserve and the other world central bank's don't have to do it


if they can get the interest rates to be artificially low when you reduce the interest rates the cost of buying a house becomes cheaper because the interest rate goes down so the loan payments are going to get cheaper and that the currency that the bank's create doesn't exist until your signature hits that loan document that's the second that that currency comes into existence and because it's on that loan document it means you're using that currency to buy a house that causes homes to go into


a bubble real estate goes into a bubble then and that purchasing power those brand new digits that they typed into your account is stolen purchasing power from the rest of society and so the real estate goes into a bubble and when that bubble pops it's the free market trying to balance once again but it it doles out a punishment to the people that manipulated the market and then everybody screams market isn't working and so they asked for like central banks in the Federal Reserve to manipulate


things more and it just comes back to haunt us again because the manipulations and the bubbles keep on getting bigger the wealth transfers keep on getting bigger and we all suffer for it please read eyepencil and then you can watch the video there's a link to the video at the bottom of the article if you read that it's just like reading a book and then watching a movie and it's short so read the thing first then watch the movie because if you read a book it's almost always better than the movie


and eyepencil it's a brilliant movie but Leonard ear EADS original eye pencil is a masterpiece it's better it chokes me up every time I read it I want to thank you for watching if you are interested in creating more prosperity for the future please try to help stop the spread of misinformation regarding the free market because if somebody is blaming as a one thing or another on the free market other than the free market trying to balance everything and the free market to pray trying to provide us


with what we want by us voting for what we want with our wallets it's a vote every time you spend currency it's a vote hopefully one day we'll be spending money again I want to thank you for listening we'll see you next time