The Fed

Lena Petrova interviews Ryan McMaken on World Affairs In Context.

When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result.

The Fed wants independence so it can serve the interests of the banker class. There is no higher principle here. There is only power.

The Fed claims things are going very well, but Fed Chairman Jerome Powell got three questions at the press conference that he had trouble answering honestly.

For nearly 30 years, the Fed has pursued an easy-money policy that has made the economy increasingly dependent upon the next round of “stimulus.” Reversing that policy will mean, at least in the short run, a stiff recession before the economy rebounds, which is a non-starter today.

The Fed lowers interest rates ostensibly to “stimulate” the economy. But while the Fed claims it is strengthening the economy, it actually weakens it through its easy-money policies.

Despite claims from the Keynesian “experts” that gold is a “barbarous relic,” the markets are saying that gold is more valuable than ever.

Tom DiLorenzo is interviewed by Thea Shoemake.

Tom DiLorenzo appears on The Pelle Neroth Taylor Show.

Tom DiLorenzo appears on The Bill Meyer Show.