Milton Friedman: Abolish the Federal Reserve

Austrian Theorists and Chicago Economists can rejoice! LibertyPen published a 1994 interview with Nobel laureate Milton Friedman, who told the interviewer that he has been long in favor of abolishing the Federal Reserve, citing its poor record of performance, such as doubling prices, creating an economic collapse in 1921 and maintaining policies that initiated a recession in 1929/1930 ultimately creating a depression.

It’s a short clip, but Friedman can make more sense in just 1:54 than Federal Reserve Chairman Ben Bernanke, Keynesian Economist Paul Krugman and President Barack Obama can in hours and hours of speaking. Enjoy the video.

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  1. There is not one politician today that would endorse this because they know the Federal Reserve is the only way they can get away with deficit spending.

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