In what is surely the lamest attacks on the gold standard, Federal Reserve David Andolfatto tries to justify the central bank by pointing to a problem that is actually encouraged by the Federal Reserve. The video suggests correctly that critics oppose inflation and higher prices, but then does not address that issue at all or admit its guilt. Instead, the case for the Fed is based on the volatility of the demand for money and the resulting bank panics and bank runs that could hurt the overall economy. The Fed addresses this problem by serving as a lender of last resort.