10-22-2007, 12:53 PM
The one where he says we don't need the Fed/life without wouldn't be bad or something to that effect
Thanks in advance.
"Some mechanism has got to be in place, which restricts the amount of money, either a gold standard, or a currency board, or something of that nature, because, unless you do that, all of history suggests that inflation will take hold with very deleterious (harmful or injurious) effects on economic activity.”
He didn't directly say we don't need the Fed, but he indirectly did by listing a gold standard as an alternative.
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