Milton Freidman on the Federal Reserve System

his idea was to abolish the fed, to be replaced with a system that added money only to accomodate real growth in GDP, therefore preventing inflation and deflation.

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[ElGranShooter]

Milton Freidman born in the hell bastard !

[jonLukasC]

@ElGranShooter you're a crackpot and I think deep down inside you know it

[wharris103]

We tried this. Then we quit. Why? Didn't work.

[jonLukasC]

@wharris103 tried what??? you should try to make some sense

[jelisa46]

why does anything this man has to say taken seriously by anyone.his economic philosophy has been debunked time after time from his south american financial experiments to the administrations of mckinley,coolige,hoover,and yes reagan.its trickle down,horse and sparrow,facsist economics.it just dosen't work.the only thing he is probably right about is getting rid of the FED which is an illeagal centralized private bank.but try to get a bill to end it on the house floor.good luck!

[jonLukasC]

@jelisa46 I just got to reading this now. so you're saying its been debunked even though Chile is doing well now. BTW Nikon and Kissinger (2 dirt bags to say the least ) were responsible for the coup and general Pinochet in Chile. To say Friedman had anything to do with that like Naomi Klein has stated, Is a baseless accusation, one with no evidence to back it up. where has Friedman's policies failed???

[stick1to2the3issue]

Thanks for posting. Milton Friedman gets smarter every day. I swear if he was alive today he would roast any liberal hack in a debate.

[jastheswift2]

good video...logic is nectar for the brain...

[hamnose]

And Chile began to do well as soon as Pinochet was removed from power. The last years of his regime saw triple digit inflation in spite the massive U.S. support. Anaconda et al took their money and couldn't have cared less what happened to Chile. Sound familiar? And no, I'm not saying that Freidman was a supporter of that regime nor am I saying that they employed his ideas purely and fully. But think about one example: private prisons. Why would such a corporation want less people in prison?

[hamnose]

@jonLukasC Yes his policies fail. Specifically in the privatization of public trusts as in Chile. One thing they did was privatize their social security and it vanished immediately. Corporations do not police themselves nor does the market chastise them for unfair, detrimental or immoral practices. Milton and other "free market" ideologues are accountable because these ideas, that the "Market" will take care of itself, is part of a scam to cash out institutions our ancestors left us.

[Redfingers]

Holy shit I agree with Milton Friedman on something!