The mistakes in Freidman's video are numerous and blatent. He made no mention of the oil embargo and the effect it had on everything we produced and shipped because it didn't support his theory of money quantity being the culprit.

Inflation with a free floating fiat currency will always be a "supply/resource" issue, not a money quantity issue up to the point of full employment and full utilization of resources. Only then will increasing the money supply inflate prices, at least in a true free market with competitive companies managing the supply.

Our current inflationary pressure comes from allowing corporate monopolies that have singular control of pricing and can raise shareholder equity, even on reduced output, at will to combat demands made by the workers.

This is not a condition that can be addressed by making borrowing more expensive, so it will make the problem worse until it serves its real purpose of creating misery for the working class to the point of causing its compliance with capital's wishes.