Milton Friedman vs. The "Anointed Rose" (1999) The First Interview Showdown! The FED & Globalism

[@dezimal9143]

1999 doesn't feel that far away. Sad how TV declined in content quality.

[@enricolucarelli816]

Great channel. I’m from Europe, Spain, and eagerly following it. Always interested in truth, honesty, reason, and common sense.

[@BasicEconomics]

Welcome aboard!

[@shyama5612]

More friedman interviews please.

[@tvfan14]

I was born in 1992, I am 28. Friedman is one of my favorite intelectules and heros.

[@michelangelope830]

I would like to talk with you please, it is life or death important. Humanity don’t understand an argument that an innocent kid would like to understand because is wise, otherwise something would have been done about the squandering of fortunes, the war and the destruction of the environment. What can be done with the gold in reserves, that are useless inside a vault, like in the Fort Knox in America? Only to sell it. How much cost taxpayers to protect the gold? Fortunes. To sell the gold today spares to pay for the protection tomorrow. The gold market is going to crash and i defend my word against any economist past or present. Russia could go bankrupt and end the war in Ukraine. I think we live in an horrible world, and I was said it is the only one we have. I have to keep trying. I am not given a voice in any news media in the world. Being everything else the same a country without gold is wealthier, live better thanks to their understanding of money, that is transferable debt, a number that indicates value and a name, the issuer of the promise to give value for value at the same market value or price and different utility for buyer and seller, otherwise the exchange would not take place, benefiting both equally, increasing equally their wealth, than a country with gold that protect a yellow, bright, durable, divisible, mouldable, electric conductor, not particularly beautiful, and rare mineral useless inside a vault, because in the country with no gold don’t have to work to pay the extreme cost of mining, transportation, minting, storage, protection. Gold is not money and exchanging gold for goods and services is barter. Gold mining would end when the price collapse as all the gold reserves in the world are sold, being the last the foolest, and companies would not be profitable saving the environment from destruction. Is not absurd to have to dig out gold to exchange goods and services? Money can be created to buy to sell costless without authorisation because is a sellable contract to give value for value, fulfilled with honour and accepted voluntarily if the issuer is trustworthy, and can be stored in the mind. “I promise i would give the bearer the price in value without cheating, lying, hiding, stealing aiming at giving satisfaction, wellbeing, wealth, happiness.” Humanity laugh amused while i point out that fortunes are being thrown to the rubbish bin, people are being killed in the war and the environment is being destroyed mining for gold. Humanity don’t understand, what a tragedy! If an innocent kid had gold and could sell that gold for a lot of sweets and the protection of the mineral would cost him year after year some of his sweets when would the kid sell? Kind regards, Miguel.

[@ChifundoBanda]

The man's wit and charm are so disarming. We miss that kind of fatherly guidance when nowadays it's about "owning" your opponents.

[@networth8754]

Yes. What I call "intellectual Judo"

[@bratyanow]

A lot of people criticize Charlie's method of interview but I always enjoyed them. Was more of a conversation with his guests rather than an interview. Anyway, Milton was more than capable of getting his points across. I miss them both.

[@michelangelope830]

I would like to talk with you please, it is life or death important. Humanity don’t understand an argument that an innocent kid would like to understand because is wise, otherwise something would have been done about the squandering of fortunes, the war and the destruction of the environment. What can be done with the gold in reserves, that are useless inside a vault, like in the Fort Knox in America? Only to sell it. How much cost taxpayers to protect the gold? Fortunes. To sell the gold today spares to pay for the protection tomorrow. The gold market is going to crash and i defend my word against any economist past or present. Russia could go bankrupt and end the war in Ukraine. I think we live in an horrible world, and I was said it is the only one we have. I have to keep trying. I am not given a voice in any news media in the world. Being everything else the same a country without gold is wealthier, live better thanks to their understanding of money, that is transferable debt, a number that indicates value and a name, the issuer of the promise to give value for value at the same market value or price and different utility for buyer and seller, otherwise the exchange would not take place, benefiting both equally, increasing equally their wealth, than a country with gold that protect a yellow, bright, durable, divisible, mouldable, electric conductor, not particularly beautiful, and rare mineral useless inside a vault, because in the country with no gold don’t have to work to pay the extreme cost of mining, transportation, minting, storage, protection. Gold is not money and exchanging gold for goods and services is barter. Gold mining would end when the price collapse as all the gold reserves in the world are sold, being the last the foolest, and companies would not be profitable saving the environment from destruction. Is not absurd to have to dig out gold to exchange goods and services? Money can be created to buy to sell costless without authorisation because is a sellable contract to give value for value, fulfilled with honour and accepted voluntarily if the issuer is trustworthy, and can be stored in the mind. “I promise i would give the bearer the price in value without cheating, lying, hiding, stealing aiming at giving satisfaction, wellbeing, wealth, happiness.” Humanity laugh amused while i point out that fortunes are being thrown to the rubbish bin, people are being killed in the war and the environment is being destroyed mining for gold. Humanity don’t understand, what a tragedy! If an innocent kid had gold and could sell that gold for a lot of sweets and the protection of the mineral would cost him year after year some of his sweets when would the kid sell? Kind regards, Miguel.

[@tran-vm3uu]

thank you Dr. Friedman for clarification of free trade

[@markvandenberg4606]

Always great to see some old Friedman clips pass by, thank you! Subscribed to your channel. It would have been interesting to hear Friedman’s opinion on China today, by the way. The world sure has changed dramatically.

[@BasicEconomics]

I think Thomas Sowell would probably have the best insights into what Milton might have to say today.

[@markvandenberg4606]

@@BasicEconomics Yes. Love Sowell too.

[@networth8754]

9:09 "The amount of money we were spending on debt service didn't bother you?" If Biden continues his prolific spending, and interest rates rise modestly the debt service will consume a majority of the discretionary spending component of the annual federal budget.

[@networth8754]

5:12 People have lost faith in Joe Biden as the solver of "any" problem

[@ramjamflimflam]

Soon after , Greenspan abandoned any notion of restraint with monetary policy.

[@tntramzy12]

He never had it

[@ramjamflimflam]

@@tntramzy12 to the extent that Prof. Friedman eluded to at the minimum. I agree with you, these folks play a game we don’t elect them for unfortunately.

[@markclark3747]

Charlie Rose was great. He wasn't debating Milton Friedman. He was interviewing Milton and playing devil's advocate to give Milton Friedman a chance to argue, explain and support his believes. I used to love his long form interviews. Joe Rogan got popular for using the same format.

[@ogarzabello]

The "Anointed Rose" is an unfair characterization, the interviewer has to play Devil's adovcate in order to get the best of a controversial figure even if you agree with him, even the libertarian journalist John Stossel uses that technique.

[@BasicEconomics]

Stossel was indeed great at it! Thanks for the comment :)

[@KumoOtokoZero]

Awesome!! Thank you!!!

[@MrDanielfff777]

I want to hear from Rose Friedman

[@BasicEconomics]

kzbin.info/www/bejne/hYu6pIOdd9l6etU HERE ya go! I do have more interviews featuring rose but the quality is lacking but still worth a watch, I may have to post them.

[@MrDanielfff777]

@@BasicEconomics I have watched that one already from you, I watched that and that is why I want to hear more from her

[@Bliind]

Wow good find. Good looking out

[@herrschaftg35]

I don't think Friedman understands the correlation between free trade with foreign nations and the adverse effects it has on domestic businesses.

[@DaveW74TVN]

Friedman! Comment for the algorithm ;)

[@BasicEconomics]

very much appreciated!

[@MCRONE2]

thanks, informative

[@maambomumba6123]

Bro where do you find these? Youre the real MVP

[@BasicEconomics]

Thank you so much!!!!

[@shonjuan11]

Gake comment below. Or above. Rossy Terry

[@BasicEconomics]

Thanks! I get so many of those, hard to keep up.

[@daveBit15]

Milton was great on mostly everything, but monetary theory was not one. Still a little better than the Keynesians, though.

[@phamnuwen9442]

It's a bit weird for a supposed free market champion to start out by explaining that the current healthy economy is due to good monetary policy, i.e. good central planning. Isn't the primary reason any economy is healthy that government largely follows a laissez-faire policy, i.e. it leaves people alone to trade as they see fit?

[@daveBit15]

@@phamnuwen9442 Indeed. "Government is bad and corrupt at *everything* so we should give it the control of *money* ". Really smart.

[@rpalmatres5898]

Just being curious, How was Friedman wrong about monetary policy?

[@rpalmatres5898]

@@phamnuwen9442 good monetary policy is not the same as central planning. Grandpa Milton is just complimenting the fed for not screwing it up.

[@daveBit15]

@@rpalmatres5898 There's no such thing as "good monetary policy." It makes exactly zero sense to consider the government inept at producing food, but good at producing money. Friedman's recipe for "good monetary policy" was to keep an inflation rate that was tuned to the price-dropping tendencies introduced by the increase in productivity, the variations in the labor market, etc. It was based in the assumption, shared by Keynesians, that dropping prices are a bad thing, which is of course nonsense. It's also idiotic to think that the elites controlling the government will refrain from using the power of a central bank for personal gain.