Economic History, the Great Depression, and the Recent Financial Crisis
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Economic historian Barry Eichengreen talks with the Cleveland Fed about lessons from economic history, the Great Depression, and the recent financial crisis. Read the full interview with Eichengreen: http://www.clevelandfed.org/forefront/Forefront/2013/spring/ff_2013_spring_10.cfm Watch Eichengreen and other economists share their opinions on the Fed: http://www.clevelandfed.org/annualreport/essay.html Visit the Cleveland Fed's channel for more videos: http://www.youtube.com/clevelandfed Subscribe to receive new videos in your feed: http://www.youtube.com/subscription_center?add_user=clevelandfed
Comments
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a must listen for historians and anyone interested in $.@3:20 when he says it helps us he means bankers I think, certainly not helpful to americans in general.
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I would have asked Professor Eichengreen his thoughts on resurrecting the original full reserve bank, the Bank of Amsterdam, as a public bank that held the deposit of gold and silver coinage, issuing certificates of deposit as the circulating paper currency. Such a public bank would not have lending powers, except for any coinage they took in as few income and represented bank assets. Depositors with the public bank could, if they acquired a charter, set themselves up as lending institutions. Would this not solve the basic problem of monetary inflation?
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