Senior fellow of the Mises Institute Mark Thornton returns to the show to discuss Austrian business cycle theory, how the Fed's artificially low interest rates create perverse incentives, resulting in wild spending on both the production and consumer sides of the economy. Thornton discusses the crash of the stock market in the 1970s after Richard Nixon took the United States off the gold standard, which motivated Ron Paul to run for office and explains the moral hazard of fractional reserve banking and how it's at odds with a system of sound, commodity-based money. Instead we're subjected...