Milton Friedman: The Purpose of the Federal Reserve

Milton Friedman says that the purpose of the federal reserve is to provide cash when there is a run on the banks. This is part of a 10 hour series which can be viewed at: http://www.ideachannel.tv/

Category:

News & Politics

Tags:

• money
• supply
• federal
• reserve
• crisis
• run
• on
• bank
• cash
• shortage
• depression
• recession
• crash
• economy

[IBringIt56]

@chapsroc , Go troll elsewhere

[chapsroc]

@TeaParty1776 , you're crazy, go kill yourself for your "selfish rational morality". No one give a fuck about what you are saying, you're just torturing yourself by talking narcissistic shits inside your painful asshole! A "selfish rational moralist" whatever the fuck you meant by that no one cares, just go kill yourself, and spare yourself the embarrassment and pain.

[chapsroc]

@TeaParty1776 , like you know shit! "free market" walk the talk dumbfuck: Stop bitching, "free market" bible said STFU tea-bagger faggot, people can buy what they want at whatever price they want to pay at their own free will. You faggot tea-bagger talk like you have flip-flop in your mouth. Fucktard, read your own garbage writing, then insert your head back in your ass.

[chapsroc]

@TeaParty1776 , you fucktard can't speak about "Man's mind", a mentally retard tea-bagger like you need your fucktard mind seen by a shrink.

"selfish rational morality" walk the talk, dumbfuck: Go kill your children and save money to pay your shrink's fee and insurance rate hike. You are a waste product of freak nature. Since you're just a pile of shits, your offspring are just more shits, over supply of shits is bad investment. Kill your children, save $ for your selfish enjoyment.

[TeaParty1776]

@greg55666 There are no intrinsic values. Gold has objective value because man's mind identifies its properties as valuable for trading and trade as furthering man's life. Man's mind has not identified paper as valuable for trading, thus legal tender laws force the use of paper that people would not choose to use. Will you trade your gold for my paper? Paper is good for socialists who pretend that socialism is low cost. Paper encourages unsustainable investments which fail, causing depression.

[TeaParty1776]

@Outrjs Reason causes freedom and peace. Faith causes tyranny and war. Religious tyrannies are most of history.

[TeaParty1776]

@MrGRT99 Do you live in a country without a central bank?! Its still destructively affected by inflated US money used as a reserve by foreign banks.

[TeaParty1776]

@johnsurs22 Gold financed the Industrial Revolution. The amount is irrelevant. Prices will change relative to the amount. With capitalism, prices will decrease. 1920s cars were $300. Only the market of voluntary producers, buyers and sellers is the data of the science of economics. Economists have no other data. Capitalist growth includes gold supply growth from more profit,demand and tech. Markets coordinate, w/prices, the production, buying and selling of everyone. No economist can do this.

[jimmyrtle]

@TeaParty1776

Repaid, short-term loans are "an example of the destructiveness of govt inflation"? How?

"Govt inflated and bailed out banks which used the inflation to make loans which looked good because prices rose"

You think banks like inflation?

[jimmyrtle]

@greg55666 Yes, the $16 trillion everyone is whining about was short term loans by the Fed, long repaid.