0 thoughts on “Phil Donahue Interviewing Milton Friedman 30 Years Ago About The Virtue Of Capitalism

  1. It was this brilliant economist, Milton Friedman, who said, that it WAS The Federal Reserve, who caused the Great Depression, that began in 1929 and lasted until about 1939!

    And, none other than, the present Chairman of the Fed, Ben. S. Bernanke, agrees with Friedman’s assessment that the Fed CAUSED the Great Depression!

    It was at Friedman’a nineteth birthday, that Bernanke, said, “Let me end my talk by abusing slightly my status as official representative of the Federal Reserve. I would like to say to Milton and Anna: regarding the Great Despression. You’re RIGHT, we did IT. We’re very sorry/ But thanks to you, we won’t do It again. Best wishes for your next ninety years.”

    Contrary to what most people believe, the Federal Reserve is NOT owned nor controlled by the US government. It is America’s ALL-POWERFUL Banking Cartel, very cleaverly passed through Congress in 1913, the year that the Federal Reserve Act became law, making it appear as though it was to be operated and controlled by government, a LIE, that even many Congressmen/women, still do not understand!

  2. Phil Donahue

    Is both a liar and an ass.”The world runs on individuals pursuing their separate interests”. Now even if this were true, what the f@ck has that got to do with Greed? What a false premise if ever there was one.

    An individual that seeks to pursue his separate interest is perhaps seeking to make the world a better place as opposed to seeking to make a fast buck and hoard. Any argument that suggests that those who seek to improve their lot and those around them can only do so with the means that is provided by the greedy is entertaining a circular argument.

    This man has never heard of Haiti nor South America. For him there is NO middle ground. Good men, well seeking visionary leaders who will use the resources of the state to level the playing field are ALWAYS vilified and shot down.

    Incidentally under communist rule Russia moved from a back woods exploited kingdom to a modern society with the most advanced space program of the day in less than four decades. The same is true for China. Now “Greed” (and a malevolent media) has jumped into the mix and the campaign has become upstaged.

  3. @ Zoe:
    You got your facts and reasoning quite clear here alright?

    Do you think we have a greater Depression coming?

  4. Quoting BAFBFP | October 29, 2011 at 7:38 PM | who is quoting Phil Donahue ”The world runs on individuals pursuing their separate interests”. Quoting BAFBFP Now even if this were true, what the f@ck has that got to do with Greed?

    Maybe individuals are as greedy as banksters?

  5. @Annaki, Yes, I do believe we are in for the Greatest Depression, the world has even seen, or experienced; and its just around the corner!

    When I take, the expert comments and analysis of ‘secular’ economists, plus the Biblical imperative of the ‘season’ that we are in, its all converging in a logical sequence, that appears unmistakably true!

    Get ready for ‘The Return of the Great Depression’
    Expert: We’re in ‘early stages of ongoing economic contraction of massive proportions’

    Posted: October 13, 2011

    “It’s finally become apparent to just about everybody: Despite continual, half-hearted cheerleading from politicians and the media, there is no economic recovery anywhere in sight.”

    “To be prepared for what may well be coming our way economically, consider the remarkable insights of the analyst who seven years ago predicted that the collapse of the housing and credit markets would shake the very foundations of the global financial system.”

    “Despite the turmoil of the last three years, warns Day, we haven’t seen anything yet, and current skyrocketing real unemployment rates suggests he’s right.”

    “In “The Return of The Great Depression,” Day explains how the world is still in the early stages of an ongoing economic contraction of massive proportions. In addition to providing 10 reasons the Great Depression 2.0 will be wider, deeper, and longer than its predecessor, he shows why most economists were unable to foresee the crisis unfolding – and why they remain incapable of recognizing its extent.”

    Time is short, very short!

  6. The video that explains the problems and perils inherent in debt based monetary systems, Money As Debt, has apparently been updated with the release of Money As Debt II. For those who might be interested you can watch it here:


    The video segments are in the form of a playlist, so if you click on the first video in the series (i.e. the one on the top left), they should then all play automatically in sequence.

    From the explanatory blurb posted at Youtube:
    Money as Debt II Promises Unleashed
    Bailouts, stimulus packages, debt piled upon debt, where will it all end? How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers? And now, all of a sudden, the bankers have no money and we the taxpayers, have to rescue them by going even further into debt! Money as Debt II Explores the baffling, fraudulent and destructive arithmetic of the money system that holds us hostage to a forever growing DEBT…and how we might evolve beyond it into a new era.

    Quote by economist John Kenneth Galbraith used in the opening credits:
    The study of money, above all other fields in economics, is one in which complexity is used to disguise or evade truth, not to reveal it.

  7. The Independent on Sunday:

    Exclusive: Cover-up at St Paul’s
    Clerics suppress report on bankers’ greed to save church embarrassment

    Brian Brady, Jane Merrick

    A highly critical report into the moral standards of bankers has been suppressed by St Paul’s Cathedral amid fears that it would inflame tensions over the Occupy London tent protest.

    The report, based on a survey of 500 City workers who were asked whether they thought they were worth their lucrative salaries and bonuses, was due to be published last Thursday, the day that the Canon Chancellor of St Paul’s, Giles Fraser, resigned in protest at the church’s tough stance.

    But publication of the report, by the St Paul’s Institute, has been delayed in an apparent acknowledgement that it would leave the impression that the cathedral was on the side of the protesters.


    Mr Studdert-Kennedy, who refused to comment directly on the survey findings, said he had been “astonished” by the attitudes some City workers displayed towards the financial crisis. He said: “I did speak to many people about morality. I was amazed by how many banking crises there had been and how sanguine people were about them. A number of people said ‘this is just what happens – it’s the nature of banking, it’s the nature of capitalism’.

    “It’s one thing having a historical perspective, but I was astonished that people didn’t try to learn a bit more. There is a recognition that there is something wrong, but a reluctance to admit that they are part of the problem. They can be good at criticism but not so good at self-reform. What we have got there is so much that is human nature, related to how they behave in groups.” He conceded that the publicity surrounding the camp had been “awful”

    More at:

    • Yesterday, pressure mounted on the Archbishop of Canterbury, Rowan Williams, and leading Church of England bishops to speak out about the continuing battle over the Occupy London camp. Dr Williams wrote what is understood to be a “supportive” letter to Dr Fraser when the latter resigned, but has refused to comment publicly.

      Let us see how the Bishop responds!

  8. it doesn’t take a bible scholar to tell anyone that eventually “GREED ” would consume us all.There is nothing prophetic that mankind selfish and self serving ways would be our undoing.This will be always until the end of civilization. The OWS protesters serves to highlight globally what is wrong when a few can control all and refuse to share while the majority works like jackasses for pittance. GREED have no boundaries it is also in the churches .The use of 10% to be given by its members is widely used and acceptable by members even though it is not mandatory. Does anyone question that? NO! people are like sheep and therefore we take our cue from the shepherd and in this case The Sherherd is big business and the end result is Corporate greed followed by mayhem

  9. another moral question the church should asked itself.How can the church demand so much from the poor and give so little back. Most of the pews are filled with poor people who give generously to the up keep of their pastors who in turn flaunts their bigger than life lifestyle in the faces of those who can least give and have nevertheless given .What morals? Does any one believes that using the name of God to dumb down people is moral?the church has so done and have got away with it for so many years.Can one imagine a world if every church give back 10% of its earnings to world hunger? No one investigates the church finances but yet people continue to give and give hoping to get that blessed reward in heaven

  10. Greed, has many shades of mankind’s SINFUL nature, it is not restricted to those who already have much wealth, and are GREEDY for more, never satisfied!

    “So are the ways of EVERYONE who is GREEDY for gain, It takes away the LIFE of its OWNERS.” (Prov. 1:19 Emphasis added)

  11. GREED is the accumulation of WEALTH and the inabilty of not wanting th SHARE with others in despair , Most churches have fallen miserably short in spreading the WEALTH but have done due diligence in spreading that part of the GOSPEL that resonates with their agenda

    • The greed which has taken over our world is systemic and chronic, it is not fair to pick on any one group.

  12. It is not fair for any one group to feed from the trough of the gullible and unsuspecting and in return throw them the crumbs.If anyone group church or otherwise do the right thing for those who serve them the most they would not be any need for them to be picked on. How on earth can anyone group amass so much and shows pity on those who they stole it from .

  13. I have always said and believe that the People can control the way things are done by governments an big business . As with government They need our VOTE they jobs are in our hands. We really don’t need them but the opposite is true. The same with big business . We are the consumers when we stop patronizing them the fold up. That is the message OWS wants them to know. Big business and government pretends and acts as if they are bigger and more powerful than the PEOPLE when in fact they are not. Now they are beginning to see who controls who. The people have wrestled and seize power out of their hands and they are not going to give them back .it can only get better from here.

  14. @ CH
    What you mean by HOW. Have you not seen that the banks are becoming weak kneed . When is the Last time you heard of several banks giving into the wishes of the PEOPLE. Not even the USA government could control the banks . Now the Banks have finally woken up to threats of those who keep them afloat after hundreds of PEOPLE stepped up to their doorsteps and demanded to close their accounts . There is more to come. CH you too would beneficiary . It can only get better. The next step is demand the government to reimburse the people the money which they used to bail out the banks. Many people have worked hard only to see the equity disappeared in their homes due to the “Bailing out of these Banks! just wait and see!It ain’t over till it’s over

  15. Capitalism is the unequal sharing of wealth.

    Communism is the equal sharing of MISERY (for 99%)

    Socialism is the confiscation of hardworking people’s money via unnecessarily high taxes to create dependence among a broad swath of the populace in order to buy votes for corrupt politicians.

    The answer is Benevolent Dictatorship where services are provided for the needy eg excellent education, healthcare etc BUT the recipients are held ACCOUNTABLE and are closely monitored to ensure efficiency and effectiveness.

    The present Democracies encourage politicians to be CORRUPT without fines and JAIL. We must develop a system that takes INTEGRITY very seriously.Politicians should be paid very well BUT must submit to serious scrutiny in the accountability deprtment.

  16. @Moneybrain: “The politicians are going to divide and conquer by whatever means necessary.

    But the smart voters are going to vote very well.

    They will probably divide the politicians in half….

  17. @Money brain
    What ever the politicians do they have tried before. Thanks to the Internet and social networking the PEOPLE can communicate in ways that was not affordable to them in the past. Now the politicians going to have to finds new ways for fooling the public. The public is now ahead of the game and they are Not going to be fooled anymore. OWS is the best thing that have happened and guess what The politicians and big business are so out of touch that they are unable to relate to the reality of what is staring them in the face . It is like staring dazedly into an ak47 and not knowing when it is going to kill you. Both sides are afraid that the People have finally taken control of their finances.

  18. @Chris
    The problem is that nearly all pols are corrupt, so dividing them just changes which crooks will be in power.

  19. @AC
    I sincerely wish this was reality but it is not imho, ie that peeps had control of their finances. The West is BANKRUPT!

    If the peeps were truly clever they would OCCUPY WASHINGTON DC to the MAX first, then Wall St. You need to appreciate that if the pols had NOT been corruptible and had not repealed the laws born out of the Great Depression’s Lessons then the problems would NOT be gargantuan, Wall streeters would not have risked jail and capital would not have been abused since it would NOT be replaced so easily by Washington! The people vote for pols to lead properly they do NOT vote for Wall St! The lion’s share of culpability must lie in Washington! If this was not true then the mess would NOT have occured after the repealing of financial legislation!

  20. @MB
    So why are the Banks trmbling in their boots eager to refund any fees that they charge on people’s debit card. The people knows who are in charge .First decapitated the head and the body would follow .

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