“The power to determine the quantity of money… is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power… Any system which gives so much power and so much discretion to a few men, [so] that mistakes – excusable or not – can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic – this is the key political argument against an independent central bank.”
– Milton Friedman
– Ben Bernanke Just Told A Massive Lie About Milton Friedman (ZeroHedge, Oct 1, 2012):
Submitted by Mike Krieger of Libertyblitzkrieg
Ben Bernanke Just Told A Massive Lie About Milton Friedman And I Can Prove It
Ben Bernanke is so desperate to find support regarding his steal from the poor and give to the 0.01% policies he is now telling blatant lies about famous, dead economists that can’t refute what he says. In this case Milton Friedman. In his Q&A today, The Bernank claimed:
*BERNANKE: MILTON FRIEDMAN WOULD HAVE SUPPORTED WHAT FED DOING
Well I suppose it’s easy to make things up about people that can’t claim otherwise, but he made a big mistake this time. Why? Because Anna Schwartz, who co-wrote the famous work “A Monetary History of the United States” with Milton Friedman in 1963, actually came on the record on several occasions calling out The Bernank and saying there’s no way Friedman would agree. The sad part about this is it seems Bernanke waited until Schwartz died to really start spewing the lies. This guy is not only dangerous he is despicable and increasingly desperate…
Don’t take it from me though, back in October 2008 Anna Schwartz had this to say in the Wall Street Journal:
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