What fiat money does by interfering in the money market in the form of benchmark rates, quantitative easing and tightening, foreign exchange reserve management is prevent the discovery of prices by the free market, an antithesis to the system that Friedman here describes.

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The problem of money is the biggest we will solve in the 21st century.

Someone read Wealth of Nations. Well done explanation

As a kid I remember watching these shows... I'm 54, too bad I was too young to grasp the message and start down the economics rabbit hole.

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Brilliant.

The article this is taken from is “I Pencil” you can find a copy at Mises.org along with other great Austrian Economic works