Watch the full 14-minute video at http://www.goldmoney.com/macleod-turk-interview. Alasdair Macleod, of http://financeandeconomics.org, and James Turk, Director of the GoldMoney Foundation, talk about how central bank interest rate manipulation through credit creation creates the business cycle and misdirect investment.

Alasdair explains how in British history, absent the central bank, continuous growth and sound money helped create the most prosperous nation in the world. James explains the importance of the Rule of Law for stability and prosperity, the traditional principles of English Common Law and contract are key for stability and trust.

They also talk about the debt trap and the crowding out effect of having an oversized public sector.

This interview was recorded on August 5 2011 in London.