Again, I don't think the public understands basic economics, but it's kind of frightening when the Treasury Secretary won't acknowledge the harm that all this massive debt suspending has caused. Again, now we're concerned about the money supply. That was the problem. The Great Depression is foolishly. They allowed the money supply to decline, to be reduced, which probably took a really bad recession, turned into how many year depression. So we need to understand these things, but we need to be honest and transparent about them. (26:06–26:19)
CLAIM
Asserts that reducing the money supply during the Great Depression worsened the recession into a prolonged depression.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
