Milton Friedman on the Great Depression, Bank Runs & the Federal Reserve
Ryan Swift
76,463 views
http://www.SwiftEconomics.com/ Milton Friedman discusses the Great Depression, banker's fear of a bank run and the appropriate Federal Reserve response to provide assistance.
20 Comments
@matt3024 2 years ago
Times were never better for Uncle Miltie!
@84wildstyle 3 years ago
Watching this today gives me goosebumps! History repeats itself! Having digital accounts today makes things even worse :(
@Knaeben 7 years ago
"...pay you something, for the use of your money..." I remember as a teen having $150 in the bank and getting $1 interest each quarter and feeling happy. Today, thirty years later, I have one account with $12,000. It might get 2 cents of interest three times a year... and I may lose about $45 in illicit fees. Those were better days...
@TheNextChapter-two 7 years ago
That was some pretty clever psychology from the Utah bank manager! I'm impressed.
@Godzilla52 10 years ago
Sometimes I think that left wing supporters demonize Friedman without understanding him. I truly doubt that most of the people complaining about him realize his moderation and variation of opinion on several issues and that he actually would encourage some extent of government regulation and central bank involvement in stopping banks from collapsing etc.
@ConstantineKazameas 7 months ago (edited)
Can't wait to show this in my class while teaching The Great Depression this week and bank failures being one of the major causes.
@guilhermeschitzamaral 3 years ago
0: Good
001: Uniqueness
01: Consent
1: Ethics
2: Problem-Solution
6: What? Who? Why? When? How? Where?
10: Net
11: Justice
21: Solving Problems With Ethics
99: Revolution
100: Liberation
001: Uniqueness
01: Consent
1: Ethics
2: Problem-Solution
6: What? Who? Why? When? How? Where?
10: Net
11: Justice
21: Solving Problems With Ethics
99: Revolution
100: Liberation
@williamday3727 3 weeks ago
All by plan by the current banksters cabal, why they didnt help, gave them the control they sought for decades
@Discovery_Overland 3 weeks ago
Even Friedman back then was giving the impression that the fed could fix anything with just printing more money. I wonder if he ever considered $40 trillion in debt would ever come. I’m still waiting for all that printing to fix it.
@IAmTDurden 14 years ago
The biggest issue with the FRS is that it was set up as a response to the Panic of 1907 (look it up). Since that time, while the occurrence of panics have gone down, their depth and severity have gone up. At least two serious downturns can be directly attributed to their incompetent handling of the situation. That's not a good thing. While some people get hurt by small bank failures, a LOT of people get hurt by big ones. Is it better to get a hundred needle pricks or have your arm lopped off?
@hondamojo1 2 weeks ago
Early America fought to retain decentralized government and especially Banking. If it has been retained, how would that have effected this necessary middle management of the monetary system?
@ffletch5277 4 years ago
I love how at 5:10 this woman is withdrawing $30 and she’s asked ”how would you like it”… I guess in 1972, $30 bucks was the equivalent of 100$ today….
Milton Friedman on the Great Depression, Bank Runs & the Federal Reserve
Ryan Swift
76,463 views
http://www.SwiftEconomics.com/ Milton Friedman discusses the Great Depression, banker's fear of a bank run and the appropriate Federal Reserve response to provide assistance.