Milton Friedman says that the Federal Reserve has severely messed up monetary policy, but a gold standard wasn’t that much better. How can we both benefit from the promise of government in monetary policy and avoid the harm it can cause to individual freedom?

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Destroy Depression

12 COMMENTS

  1. Great video, great job…perhaps even mention when which book came out at the start… due to our fast changing time. And at the end, one can even say that the sound gold/currency money and concept are still applicable today and even more so, 2017, 45 years later. Lastly, MF's solution is similar to world gold production rate. Even bitcoin is modeled on it. I won't be surprised if Satoshi Nakamoto has read this book. :). Cheers

  2. How about using only gold and silver as money ? not using gold standard, but using gold itself as money.

    Respect for Milton Friedman, but by increasing stock of money every year (or certain time period) will only end up the same as the system we have now. Whether its the goverment or the federal reserve who printed the money, the result will still the same.

    As we know that, each time money is printed, money that people have in society is decreased in value.
    Money that I have 5 years ago that can buy a goat, let's say that I saved the money and didn't use it., but now today the same money can only buy a chicken. I could say that raising stock of money is just same as stealing people's money. And whether its 3%-5% every year. It still decreased value of money.

    I dont want the system where I can't store my money safely and keep stealing the value of my sweat and hardwork over certain period of time.

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