Dr Niall Ferguson: Honorary degree acceptance speech

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Uploaded by on Jul 28, 2010

Dr Niall Ferguson, Macquarie's newest (honorary) graduate talks about the modern significance of Lachlan Macquarie

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  • HE DESERVED IT

  • It is a perverse statement to compare quantitative easing with what Macquarie did. Todays QE in the US is more like handing the Rum Corps more rum. What the holey dollar and dump did was create liquidity for the lower classes and smash the cabal of the ruling class. The other advantage of Macquarie's was it was a closed system so to speak, and generally did not have debt leakage to other countires. Also, it was a real commodity, not something they could create every time they use a credit card

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