Episode 262: David Friedman on the Gold Standard
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The Problem With Free Banking
Free banking is the least bad system that I can think of for money. A properly working free banking system is just fine now. If we did go to commodities back standard would there be a convulsion or would it work straight up well? The real collapses are when out systems are 100 percent a year 100 percent a month depending on which hyperinflation you're thinking.
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