https://www.youtube.com/embed/8PPXIQRB_4g
Paul Volcker - The man who saved America A finance documentary
This documentary briefly depicts the economic rise of the US in the 20th century and what led to the high inflation rate in the 1970s. From industrial power house to Bretton Woods Agreement to the US Dollar restricting the convertibility of the US Dollar to other currencies or Gold.
After surviving an assassination attempt, Paul Volcker put everything on the line again in order to save America from hyperinflation. Mr. Volcker helped in shaping American economic policy for decades, notably by leading the Federal Reserve’s campaign to subdue inflation in the 1970s and ’80s.
A reporter asked how much unemployment he was willing to accept, Mr. Volcker responded, “My basic philosophy is over time we have no choice but to deal with this inflationary situation.”
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