Was that just the positions, y’all were given in the Debate or was Friedman really a supporter, of the Federal reserve system?
It wasn’t a formal debate. We were just talking. No, Friedman believed in the Fed. It was strange, but he thought the Fed was necessary.
I have always advocated at minimum a return to “free banking” where individual banks can print their own money backed by gold. My real position is more radical: they should print money backed by whatever they want. The market will sort it out very quickly.