Noam Chomsky: If Fed didn’t print fiat money we’d be in a deep depression

This video of Noam Chomsky speaking to students at the University of Florida was posted in late October but it has started to make the rounds on the Internet. In his Q&A session, Chomsky suggests an end to capitalism, defends the Federal Reserve, promotes the concept of inflation and reiterated the talking points that if the Fed didn’t print money then we’d be in a deep depression.

Oh, and all of the aforementioned received applause from the students, who all likely had iPhones, tablets and laptops that are products of a capitalistic free market.

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  1. “Ten years ago Iran offered to resolve its differences with the United States over nuclear programs,” he writes, “along with all other issues. The Bush administration rejected the offer angrily and reprimanded the Swiss diplomat who conveyed it.”

    Ultimately, Chomsky concludes, the United States and Israel have been so stubborn in their negotiations with Iran because they fear dealing with a true deterrent in the region, which a nuclear Iran would certainly be. “There are in fact two rogue states operating in the region, resorting to aggression and terror and violating international law at will: the United States and its Israeli client,” Chomsky writes. “Iran has indeed carried out an act of aggression: conquering three Arab islands under the U.S.-backed Shah. But any terror credibly attributed to Iran pales in comparison with that of the rogue states.”

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