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Why the Scottish "Free Banking" Episode Doesn't Justify Fractional Reserves
Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.
Reason Debate Between Bob and George Selgin: Mises.org/HAP453a
George Selgin Interview on Free Banking: Mises.org/HAP453b
Selgin's Response to Bob on Twitter: Mises.org/HAP453c
Rothbard's Economic Controversies: Mises.org/HAP453d
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at Mises.org​​.
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Chapters
00:00 Introduction
01:19 The Free Banking Debate with George Selgin
08:19 Larry White and Rothbard on Scottish Free Banking
13:39 Would Unregulated Banks Hold 100% Reserves?
24:51 Rothbard's Response
34:19 Selgin's Response to Rothbard
43:25 Larry White on Free Banking
54:20 Historical Accounts of Scotland Disproving Selgin's Claims
1:04:23 Milton Friedman on Free Banking
1:06:25 Conclusion
Переглядів: 913

Відео

Farage, Le Pen, and the Rise of the European Right
Переглядів 1,2 тис.4 години тому
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop discuss recent European elections, the apparent collapse of the British Conservative Party, and how inflation and immigration are influencing a new generation of voters. Get free copies of What Has Government Done to Our Money? at Mises.org/RothPodFREE Registration for the 2024 Mises Institute Supporters Summit is open for Mises Mem...
Watch Our Latest Fed Documentary Teaser
Переглядів 6064 години тому
For decades, the most powerful institutions, from academia to the corporate press, have made a concerted effort to marginalize the wisdom of Austrian economics. Their control is breaking. From Tucker Carlson to UFC, the name Ludwig von Mises has reached the masses in ways he could have never imagined. Now, we’re looking to take it to the next level. We are releasing our newest documentary, expo...
Economic Status Report: AI and the Fed
Переглядів 87816 годин тому
Mark Thornton joins Ryan McMaken and Tho Bishop on "Radio Rothbard" to discuss the current state of the economy and what to expect as we near the election. Get free copies of What Has Government Done to Our Money? at Mises.org/IssuesFREE Follow Radio Rothbard at Mises.org/RadioRothbard Be sure to follow Minor Issues at Mises.org/MinorIssues
Tackling Robert Reich's First Two "Economic Myths"
Переглядів 4 тис.19 годин тому
The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFREE In a new UA-cam series, former US Secretary of Labor Robert Reich promises to explode ten "economic myths." Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science, and w...
Economic Status Report: AI and the Fed
Переглядів 1,4 тис.21 годину тому
On this episode of Radio Rothbard, Mark Thornton joins Ryan McMaken and Tho Bishop to discuss the current state of the economy and what to expect as we near the election. Get free copies of What Has Government Done to Our Money? at Mises.org/RothPodFREE Be sure to follow Radio Rothbard at Mises.org/RadioRothbard Radio Rothbard mugs are now available at the Mises Store. Get yours at Mises.org/Ro...
The Minimum Wage | Mark Thornton
Переглядів 1,2 тис.14 днів тому
Well-functioning labor markets and the rise of Western Civilization-and our standard of living-is not an accident, coincidence, or a matter of chance. The topic of this episode is probably familiar to most everyone-especially the arguments on both sides of the political debate. Mark largely ignores the politics, however, and digs deeper into more important aspects of the issue. Minimum wage law...
Is the Dollar the Global Reserve Currency Because There Is No Better Alternative?
Переглядів 3,5 тис.14 днів тому
The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance at the American Institute for Economic Research. US Sanctions incentivize foreign governments to find alternatives to the dollar, b...
Why America is Ready to Elect a Felon President
Переглядів 3,1 тис.14 днів тому
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Institute Senior Editor Bill Anderson to discuss Donald Trump’s conviction. Bill explains the tortured logic of the case and its lasting significance for the regime. Discussed on the Show “Don’t Listen to the Elites: Trump’s Conviction Is NOT a ‘Victory’ for the Rule of Law” by William L. Anderson: Mises.org/RR_1...
Watch Our Latest Fed Documentary Teaser
Переглядів 68514 днів тому
Mises is on the march, and the elites are terrified. For decades, the most powerful institutions, from academia to the corporate press, have made a concerted effort to marginalize the wisdom of Austrian economics. Their control is breaking. From Tucker Carlson to UFC, the name Ludwig von Mises has reached the masses in ways he could have never imagined. Now, we’re looking to take it to the next...
Would Ending the Fed Cause a Depression?
Переглядів 3,5 тис.14 днів тому
Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie's new bill to End the Fed. The X thread discussing the "End the Fed Bill": Mises.org/HAP450a Selgin, Lastrapes, and White, "Has the Fed Been a Failure?": Mises.org/HAP450b Bob's Article, "Putting the Country Back on Gold": Mises.org/HAP450c Find free books, daily articles, podcasts, lecture series, and e...
The Montaigne Fallacy | Mark Thornton
Переглядів 61714 днів тому
As the world heads further down the road to trade protectionism and war, Mark takes a look at what Ludwig von Mises dubbed the “Montaigne Fallacy.” This fallacy is based on the illogical idea that with voluntary exchange, one person’s benefits come at the expense of the other, or what we call “zero sum thinking.” Mark shows exactly why the idea is wrong and explains that Montaigne’s other ideas...
What Exactly Happened at the Libertarian Convention?
Переглядів 4,1 тис.21 день тому
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Mises Apprentice Liam McCollum, who was at last weekend’s Libertarian Party National Convention. They discuss Donald Trump’s presence at the event, what the LP nominee means for 2024, and the potential future of libertarian transactional politics. Discussed on the Show “To Stop the Left, America Needs a Rothbardian Rig...
Fight Inflation Now | Mark Thornton
Переглядів 87921 день тому
In this week's episode, Mark reviews several ways to fight the Fed's price inflation. Adopting these strategies proactively can improve our lives economically and psychologically-and even improve our health. They can make your family less vulnerable and improve your self-confidence. Be sure to follow Minor Issues at Mises.org/MinorIssues Register for the 2024 Mises Institute Supporters Summit i...
Garett Jones on the Economic Impact of Culture on Immigration
Переглядів 1,8 тис.28 днів тому
Garett Jones is Associate Professor of Economics at the Mercatus Center at George Mason University. He joins Bob to discuss his book, detailing the impact that immigrants' culture has on the institutions of their new home. Professor Jones' New Book, The Culture Transplant: Mises.org/HAP449a Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Ec...
The Problem with Public Schools
Переглядів 1,9 тис.28 днів тому
The Problem with Public Schools
How Human Action Guided My Teaching and Research Career | Thomas J. DiLorenzo
Переглядів 1,1 тис.28 днів тому
How Human Action Guided My Teaching and Research Career | Thomas J. DiLorenzo
There’s Many a Slip ’twixt Cup and Lip | Jonathan Newman
Переглядів 70828 днів тому
There’s Many a Slip ’twixt Cup and Lip | Jonathan Newman
Calculation and Environmental Policy: Lessons from Human Action | Timothy D. Terrell
Переглядів 69528 днів тому
Calculation and Environmental Policy: Lessons from Human Action | Timothy D. Terrell
Mises’s Epicurean Ethics | David Gordon
Переглядів 97028 днів тому
Mises’s Epicurean Ethics | David Gordon
Human Action, the Way Forward | Jeffrey M. Herbener
Переглядів 68128 днів тому
Human Action, the Way Forward | Jeffrey M. Herbener
The True Cost of Modern Industrial Warfare
Переглядів 1,5 тис.28 днів тому
The True Cost of Modern Industrial Warfare
Dualism and Calculation: What Mises Taught Me about Economics and Capitalism | Robert P. Murphy
Переглядів 2,5 тис.28 днів тому
Dualism and Calculation: What Mises Taught Me about Economics and Capitalism | Robert P. Murphy
Human Action: Foundations for the Modern Austrian School | Randall G. Holcombe
Переглядів 1,1 тис.Місяць тому
Human Action: Foundations for the Modern Austrian School | Randall G. Holcombe
Reading, Teaching, and Quoting Mises | Mark Thornton
Переглядів 635Місяць тому
Reading, Teaching, and Quoting Mises | Mark Thornton
The Challenge of Praxeological Realism | Jörg Guido Hülsmann
Переглядів 2 тис.Місяць тому
The Challenge of Praxeological Realism | Jörg Guido Hülsmann
The Book That Made Me an Economist | Shawn Ritenour
Переглядів 1,1 тис.Місяць тому
The Book That Made Me an Economist | Shawn Ritenour
The Law of Association: Foundation of Human Society | Paul F. Cwik
Переглядів 683Місяць тому
The Law of Association: Foundation of Human Society | Paul F. Cwik
Entrepreneurship and Property Rights | Peter G. Klein
Переглядів 760Місяць тому
Entrepreneurship and Property Rights | Peter G. Klein
Mises and Rothbard on Credit Contraction during a Downturn | Patrick Newman
Переглядів 1,7 тис.Місяць тому
Mises and Rothbard on Credit Contraction during a Downturn | Patrick Newman

КОМЕНТАРІ

  • @adtiamzon3663
    @adtiamzon3663 3 години тому

    Should the 🇺🇲United States Federal Reserve be abolished for sound economy and prosperity??! It's time. 🫡🤫

  • @kyselykovac2477
    @kyselykovac2477 3 години тому

    loving the dilorenzo content

  • @barryweiss9977
    @barryweiss9977 6 годин тому

    This is how wars start

  • @makisxatzimixas2372
    @makisxatzimixas2372 7 годин тому

    Great legislative work!

  • @CurtHowland
    @CurtHowland 9 годин тому

    I agree with Rothbard, that fractional reserve is fraud. However, if people want to use a bank that openly uses fractional reserve, that's their choice.

  • @brianbob7514
    @brianbob7514 10 годин тому

    I think we won’t really know unless we do have true free banking, will we? Both sides of this debate support free banking so they are on the same side, aren’t they?

  • @RvNYC
    @RvNYC 10 годин тому

    If a dollar were so devalued that you could not buy bread with it, you could still barter with the bread owner. If you have trees on your property, you can trade firewood for loaves of bread. The exchanged resources IS the money. This high level ideal MMT is only possible because the US dollar is tied to petroleum. Failing this tie, there no reason for foreign economies to give over their own resources for dollars.

    • @willnitschke
      @willnitschke 8 годин тому

      Or MMT is just wrong, because it's ideological nonsense.

  • @shaggyrandy1264
    @shaggyrandy1264 10 годин тому

    Keepin up

  • @TeemuSintonen
    @TeemuSintonen 12 годин тому

    Gonna be a banger episode! 🔥

  • @1voluntaryist
    @1voluntaryist 13 годин тому

    How about GOLD MONEY? How about GGs, gold grams as the money and let people choose this over paper dollars?

    • @albionicamerican8806
      @albionicamerican8806 8 годин тому

      So how is the math supposed to work out here? The world's per capita refined gold supply is literally about an ounce (~ 30 grams). That means if you own 10 ounces of gold, then 9 other people aren't going to have any gold. How are these gold-less people supposed to pay their bills under your system?

    • @DolphLongedgreens
      @DolphLongedgreens 6 годин тому

      @@albionicamerican8806 You would settle in grains or metric grams. Electronic means of settlement with on-demand redemption makes sense for me. As does the traditional system of gold, silver and copper rounds. Wouldn't mind including platinum.

  • @BinanceUSD
    @BinanceUSD 14 годин тому

    Thank you Mises!

  • @user-om9yf4kp4l
    @user-om9yf4kp4l 15 годин тому

    I would think that fractional reserve banking would be the basis of the fraudulent system of Fiat currency. If the gold was taken away and the silver after that , there is nothing but a fraudulent system in place with fake numbers. The law states that there must be a remedy for any obligation. that’s why you have an all capital name with a Social Security number attached to it printed on bond paper that was monetized at birth for several million then traded around the world through fractional reserve banking methods giving those few million dollars exponential value. You have never borrowed money from a bank, it was your credit that paid for it in the first place. This government has committed fraud on the people along with the banking system.

  • @cocktailbarbelltender8067
    @cocktailbarbelltender8067 16 годин тому

    Bob casually dropping a big vid before the weekend lol

  • @ericschafer287
    @ericschafer287 19 годин тому

    Economics is the study of the distribution of goods. The natural thrift of human nature means that people want more goods for less effort. People will be biased toward theories and ideas that provide them more goods for less effort. Thus economics tends to be a rationalization for theft. The people who advocate for redistribution want to receive the distribution or direct the distribution. Robert Reich uses economics like Anthony Fauci uses biology. They understand their subject well enough to reuse the language and mimic practice as they accumulate wealth, prestige, and power by promoting the interests of the managerial elite. The rigorous scientific study deserves respect, but they empty it of all rigor to drape the skinsuit over their ambition.

  • @clippership8381
    @clippership8381 20 годин тому

    I am always impressed by how Eugene B. Sledge kept his humanity, especially after it was over. We should All be so strong and resilient. Thank the Lord for men like Eugene B. Sledge. .

  • @lightcaesar
    @lightcaesar 21 годину тому

    How come I never hear about the "Near Right?" Are they camera shy?

    • @sexhaver420
      @sexhaver420 19 годин тому

      They're all near to me 🥰🫂

  • @lance5015
    @lance5015 22 години тому

    I like to think im tough.. been shot, been stabbed 5x.. but to be in the first line on a lvt on d day... i dont think i could do it. Idk what else to say about how brave these men are.. non existence today.

  • @apokaluptisch5678
    @apokaluptisch5678 День тому

    13:00 Nice to hear that his gets at least some coverage somewhere else in the world. It's really not nice to live in Germany, atm. The government does an excellent job with their propaganda apparatus. Half of all media funding in Germany is collected through fees that everybody has to pay, but then no say in what gets broadcasted. It is usually used for high quality left green propaganda. So many people fall for it, even people from academia and guys you think have some sort of integrity. Even when I disagree with their statements, I must say that they know exactly how to get to people's emotions and form their opinions. If you like a taste of it, watch the DW Documentaries. It is the deutsche Welle (not daily wire), they do heaps of videos in English, as well about America financed by the German government. Imagine this is your 24/7 information stream as a German boomer. And I can confirm, that the government now starts to use one of their intelligence services against the opposition. They had done this in the 2007 against 'die Linke''. 'Die Linke' (engl. the left) is the ex people's republic party that evolved out of the reunification from the communist part of Germany. When America shifted more and more into woke territory also Germans politics shifted and the surveillance against the left stopped. Since a few years this surveillance started again but this time against the liberal conservative party AfD. Actually during this EU election a guy who worked for several years as an informant for the German intelligence service, was now "detected" as a chines spy close to the top candidate of the AfD in the EU elections a few days before the election.

  • @terrychamberlin8242
    @terrychamberlin8242 День тому

    This man is misplaced, in Africa ha

  • @f.t.2817
    @f.t.2817 День тому

    Concerning Meloni not being far right you might be wrong: m.ua-cam.com/video/nRwZ70JGRio/v-deo.html

  • @user-py7wp6nw9h
    @user-py7wp6nw9h День тому

    As a trailer editor I can tell u this is too short and not that engaging. U need a better trailer

  • @writtwoodson6879
    @writtwoodson6879 День тому

    This is an excellent video. Chris Calton is a great storyteller. The Christiana was a very important event. Ant-bellum history is not quite the same without it. It took courage to make America a better place.

  • @user-py7wp6nw9h
    @user-py7wp6nw9h День тому

    You mean ALTHO Bishop,,,? Sounds like an unfinished sentence -- Tho Bishop might think otherwise

  • @ronliebermann
    @ronliebermann День тому

    I don’t buy what this guy is saying. Nobody can secretly have a private definition of a term. By even claiming that legitimate private definitions can morally exist, this guy is making excuses for liars. If a person intentionally doesn’t clearly express what he means, then he’s a liar. Not a holder of a private definition. Maybe this guy is a communist agent.

  • @brentsrx7
    @brentsrx7 День тому

    Hiw has this not been banned yet? Critisizing the woke is illegal.

  • @DipakBose-bq1vv
    @DipakBose-bq1vv День тому

    Austrian economics is stupid. Lower prices encourage people to buy things if they have jobs which they will not have if there is a depression.

  • @CTG2500
    @CTG2500 День тому

    A basket of currencies is the future which portends badly for the dollar….

  • @barfo281
    @barfo281 День тому

    These clowns are not "the European right." They're just a different faction of leftists from the typical Euro leftists.

    • @GaleOfPeril
      @GaleOfPeril День тому

      yup, people have long forgotten that the right-to-left yardstick represents the extent of economic freedoms before anything else.

    • @GaleOfPeril
      @GaleOfPeril День тому

      nor is it meant to 😐

  • @cryptoemcee
    @cryptoemcee День тому

    Thanks!

  • @SuliLeon
    @SuliLeon День тому

    Would any of the Islamic immigrants be in these countries if the Islamic countries had not been continually bombed by the west in war for oil campaigns?

    • @GaleOfPeril
      @GaleOfPeril День тому

      Likely not, but this is not an episode devoted to the MIC so not much focus expected on the correlation between the two issues.

  • @emmetcraig828
    @emmetcraig828 День тому

    Hello again from Ireland/Eire!...still listening!...🎉

  • @dks13827
    @dks13827 День тому

    Billions for CALIF rail.. little is done........... Billions for rural internet........zero is done.

  • @noSirIDontLikeIt
    @noSirIDontLikeIt День тому

    THO!

  • @dannowell269
    @dannowell269 День тому

    Keen as to watch this

  • @runnerfromjupiter
    @runnerfromjupiter День тому

    🇺🇸🫡

  • @lucid6392
    @lucid6392 День тому

    real

  • @thefogandthewhirlwind
    @thefogandthewhirlwind День тому

    You don't vote because you're an anarchist. I don't vote because I'm a monarchist. We are not the same.

    • @brianfrommars
      @brianfrommars День тому

      Honestly I feel like monarchist are pretty well respected in this space.

    • @troll_kin9456
      @troll_kin9456 18 годин тому

      @@brianfrommars As long as they don't lie at the bottom of the water features, lobbing scimitars at passerbys in the hopes of achieving Monarchy.

  • @goldenplayroblox5985
    @goldenplayroblox5985 День тому

    Yes

  • @allenmouldey7784
    @allenmouldey7784 День тому

    Hurry up and wait.

  • @user-cg8yw1uc3v
    @user-cg8yw1uc3v День тому

    I'll get a large Popcorn 🍿

  • @samanthacat1211
    @samanthacat1211 День тому

    Socialism will bring America as a country of Government from a country that as America 🇺🇸 is a country of people of American citizens as people. Free electoral election systems represents that America 🇺🇸 is a country of American citizens as peoples. If America’s Constitution laws say clearly that America 🇺🇸 is a Capitalism system of…etc., this is a basic Foundation of our country America’s laws for Independence and sovereignty, Liberty 🗽 and Democracy. If this can be changed by ignoring, all can be wondered that if America still a civilized nation America? If enemies can’t destroy our country America 🇺🇸 and America’s greatness, America 🇺🇸 and Americans together’s patriotism spirits should preserve, protect and defend our country America’s heritage and values as a Capitalism system of freedoms, entrepreneurship spirit and equality of opportunity system by own established Constitution laws together. Otherwise no one will respect established laws anymore, because if laws are established, don’t have to obey, any laws will or can be ignored quickly. Then civilized country can turn into Communism ideologies of system very quickly. President Reagan reminded us before means that is extremely important and dangerous, because it President Reagan worried about that and believed that then he wouldn’t have any place to escape, how Americans to escape then? This Speaker means don’t ever lure any chance to unknown system from Venezuela example. America 🇺🇸 and Americans just can’t afford the damages as a great nation America 🇺🇸 and innocent freedoms and equality of opportunity loving Americans altogether. This is why let massive unknown foreigners to across the borders to vote unknown system can be very critically dangerous by ignoring our country America’s constitution laws and immigration laws altogether. I guess laws are not only to Americans. It also means to foreigners and government leaders or any levels of powers. This is why learning endlessly is extremely important in order to ensure America’s independence and sovereignty, recognitions and principles, greatness and strength, Americans’ happiness and America’s safety and prosperity, America’s world leadership status, longevity of liberty 🗽 and democracy altogether. God Bless America and Americans. So American dreams will be able to last forever instead of escaping from our great country America, strong patriotism spirits turn into escaping own beloved country America 🇺🇸 🗽❤️🇺🇸🇺🇸🇺🇸

  • @lindasisosn5621
    @lindasisosn5621 День тому

    It's aboit time someone spoke some truth.

    • @StubbsMillingCo.
      @StubbsMillingCo. 23 години тому

      The Bible has spoke truth since its inception. The Father, the savior and the book of law. I am not Christian nor religious for those equal a man 2 times to hell. You want the Truth then I suppose you need to slowly read the Bible and understand the principles, values, ethics and reason within it. Truth. Now yes the Fed is a beast that is evil and greedy. This is TRUE not the Truth.

  • @AncapKid
    @AncapKid День тому

    Marvellous. Can't wait for the full documentary to come out

  • @dks13827
    @dks13827 2 дні тому

    All: 2024 now. how goes it ????????? commies.

  • @phlgriffin
    @phlgriffin 2 дні тому

    Sledge's book was on the self at our house growing up. My Dad was in the "Old Breed" and his experince was almost the same as Sledges'. Peulie and Okawania was the same. I wish I had read it while he was still alive. He had a bump on his forehead that was a piece of shrapel from Okawania that the skin had healed over it. He never talked about it much, but I always remember as a young kid watching him talking to other guys his age or older, and the respect they show him. They knew the price he had payed. One time when I was with him around guys his parent age, they were working on something in a neighbor's garage. The old man (in his eighties) who owned the property stepped out on to the grass and took a pee, my Dad kidding with him said "can you still pee a good stream Billy" and the guys all laughed. I was surprised because to us kids it was Mr. Kimpson. Later in life he golfed with a group of guys that were all 6'1" or taller, he was 5'9" and joked that he could say whatever wanted to as long as they were with him. He passed in 2017 at 94, I lived him the last 8 years to help out, I wish I had talked to him more, but he was able to put the war behind him and was a great father!

  • @lv4077
    @lv4077 2 дні тому

    Wasn’t it,Marcuse who wrote the song sung by the police that says “ money for nothing and chicks for free”?

  • @williamlarson3623
    @williamlarson3623 2 дні тому

    When deployed on WestPac with VAH-4, aboard the Bonnie CVA-31, from San Diego to Pearl c. Jan '67, and while marching past Marine Barracks near Ford Island, what shocked me first was seeing two Marines slugging it out in a fist fight -- this while a group of Marines cheered them on. Taught me something then and there about Leathernecks and the band of brothers they are -- except of course for brother Oswald. This from an old swabby today, go figure. What sayest tho?

  • @konstellashon1364
    @konstellashon1364 2 дні тому

    "Salem Media Group, Inc and its former publishing division, Regnery Publishing (together, "Salem"), published a film and book entitled 2000 Mules that examines allegations of voter fraud related to the 2020 presidential election. In publishing the film and the book, we relied on representations made to us by Dinesh D'Souza and True the Vote, Inc (TTV) that the individuals depicted in the videos provided to us by TTV, including Mr Andrews, illegally deposited ballots. We have learned that the Georgia Bureau of investigation has cleared Mr Andrew of illegal voting activity in connection with the event depicted in 2000 Mules. It was never our intent that the publication of 2000 Mules film and book would harm Mr Andrews. We apologize for the hurt the inclusion of Mr Andrews' image in the movie, book, and promotional materials have caused Mr Andrews and his family. We have removed the film from Salem's platforms, and there will be no future distribution of the film or book by Salem."

  • @ctrlaltdebug
    @ctrlaltdebug 2 дні тому

    First they ignore you. Then they make fun of you. Then you fight them. Then you win.

  • @trgscorpion9532
    @trgscorpion9532 2 дні тому

    Go ahead ancaps, what are you going to do when the communist hordes are coming over the hill? Do you think that you can just hire so mercenaries, and they won't turn around and become warlords.