Professor Allan Meltzer – Part 2

Featuring Professor Allan Meltzer Dr. Pippa Malmgren

In the second part of this fascinating interview, Prof. Allan Meltzer, historian of the Federal Reserve Bank of NY, continues his conversation with Dr. Pippa Malmgren and goes on to discuss the historical precedent of countries diverging from the Rule of Law, China’s AIIB as an alternative to U.S. financial markets, and the warring currencies of the world, including the dollar, the euro and gold. Dr. Meltzer’s front-row view of every Federal Reserve policy environment since William McChesney Martin makes this a fascinating look into the past, and a lens through which to view our current financial landscape.

Published on
11 September, 2015
Politics, Europe, Geopolitics
35 minutes


  • LR

    Luigi R.

    30 5 2017 23:45

    0       0

    Dr. Malmgren does a great job of letting Mr. Meltzer express his thoughts. So many interviewers of her intellect would be tempted to speak more and try to outshine their interviewee...well done.

  • RA

    Robert A.

    29 5 2017 03:41

    2       0

    Watched this again après his passing at Milton's urging and enjoyed even more than my first viewing. Anyone trying this hard to communicate his life's intellectual stores should be listened to with the utmost respect. It is good to be reminded once again that throughout all of history that there has never been a Rich Country w/o the Rule of Law and that no Country ever became a Rich country w/o the Rule of Law. His students were lucky to have had him. Wonderful man!

  • SD

    Stephen D.

    29 5 2017 01:20

    1       0

    He was a great man. A great and clear thinker on Capitalism and the need for the rule of law.

  • BS

    Bruce S.

    28 5 2017 18:57

    1       0

    This was a very informative interview. This lady is good! In Canada, our Governor of the bank of Canada relies too much on models to adjust monetary policy. Hell, all their models missed the oil glut which continues! Dr. Meltzer's advice to think outside the models is important.

  • JA

    Johan A.

    28 5 2017 16:50

    0       0

    Best hing on RV so far!

  • dd

    darrell d.

    22 9 2015 18:53

    1       0

    And the purge continues. It appears all central banker types want to set the record straight before the sh*t hits the fan. Very enlightening, however, where were the voices in the decades past?

  • MR


    20 9 2015 00:56

    6       0

    Yellen couldn't polish this man's shoes! Another fantastic contribution by the brilliant Pippa! I eager await Pippa's next contribution to RV.

  • LC

    Liliana C.

    18 9 2015 19:53

    5       0

    Thanks Pippa! Professor Meltzer cut out the noise and made clear and compelling points. Priceless!

  • SC

    Shaun C.

    17 9 2015 16:59

    3       0

    "Rule of Law". It would be nice to see a little of that.

  • AC

    Andrew C.

    15 9 2015 10:02

    2       0

    Banks that lend money to insolvent nations like Greece should be allowed to fail,that is capitalism. We have no rule of law, financial fraud and crony capitalism rules the day. For now.
    100% Kathleen

  • CD

    Colin D.

    14 9 2015 16:08

    0       1

    Great interview. You cannot ignore the views of someone with his experience and insight. As he suggests the developed nations will be desperate to inflate away their troubles!!

  • JB

    Jeff B.

    14 9 2015 04:17

    1       3

    Prof Meltzer seemed to be getting lost in his own answers on a few occasions during Part 1 & 2 of this interview. But overall he provided some good insight into background conversations. that occur.

  • AE

    Alex E.

    14 9 2015 03:14

    0       0

    Thank you Dr. & Prof Ms. A lot to digest! Biggest takeaway is that we all need to take a haircut or else we bankrupt our children....hang on to your hats!!

  • SJ

    Suzanne J.

    14 9 2015 02:45

    2       0

    Thanks to all concerned. I feel privileged to have viewed this interview. Prof Meltzer, thank you.

  • PT

    Pamela T.

    14 9 2015 00:33

    3       1

    The truth always shines. Thank you Professor Meltzer for presenting it so clearly.

  • RB

    Roy B.

    13 9 2015 20:25

    4       1

    The Rule of Law must prevail yet as a country we are actually weakening it with endless litigation. Thank you, Dr
    Meltzer, for re-emphasizing its importance.

  • KS

    Kathleen S.

    13 9 2015 06:07

    13       0

    Banks that lend money to insolvent nations like Greece should be allowed to fail, that is capitalism. We have no rule of law, financial fraud and crony capitalism rules the day. For now.

  • SP

    Steve P.

    13 9 2015 05:04

    6       1

    One of the most pertinent points for investors to come from this interview is the Rule of Law determinant of a nations wealth prospects. India appears to offer better investment prospects than China

  • CD

    Charles D.

    12 9 2015 17:31

    3       1

    Yes, without the rule of law and culture can ever progress. Captilisim has its social flaws...but its the only system historically that has improved living standards for generations.

  • ef

    eduardo f.

    12 9 2015 16:48

    9       0

    Pippa u did a gr8 job osking and then sitting bk. Prof Meltzer's deep insights are head & should above anything seen on reg. tv. REALVISION -> i get it now. Cheers All!

  • AG

    Alexander G.

    12 9 2015 14:53

    13       2

    US could easily fund its liabilities if it didn't spend a huge amount of money on wars. When was last time a country has attacked the US?

  • AG

    Alexander G.

    12 9 2015 14:53

    3       2

    So gold standard is passe since it only worked in agricultural times, but Adam Smith isn't?

  • BL

    Bruce L.

    11 9 2015 19:31

    2       1

    More More. So illuminating.

  • WM

    Will M.

    11 9 2015 19:08

    9       0

    Excellent discussion with Meltzer & draws well on his vast experience & recollections. "we don't have ideal systems, we have human systems". The latter & in the throes of crisis & the FED will fail.

  • KT

    Kevin T.

    11 9 2015 16:44

    6       0

    Unfunded liabilities is exactly why I buy gold. Loved this interview, they both distill things down to what matters. Surprised he praised 1920s and late 1990s as ideal policy... except for crashes?

  • PT

    Philip T.

    11 9 2015 16:29

    7       0

    It just doesn't get better than this. Both are fantastic.

  • PS

    Patrick S.

    11 9 2015 15:45

    9       2

    Allan Meltzer clearly explains why Capitalism is the best alternative to all the other economic and political choices. That and the rule of law. I wish everyone understood this so clearly.

  • BM

    B. M.

    11 9 2015 14:42

    2       1

    Just renewed my subscription to RealVision. Would have paid twice the cost for this interview alone.

  • GG

    Guillermo G.

    11 9 2015 14:34

    18       1

    Without the Rule of Law, there is nothing::no economy, no culture, no progress for mankind in general. Excellent interview.

  • FS

    Fred S.

    11 9 2015 14:22

    5       2

    Absolutely fascinating interview. Discussion dovetails quite nicely with Nial Furgusone's 6 Killer Apps Ted Talk: