Jonathan Newman joins Ryan McMaken to talk about the history behind the myth of "Fed independence." The Fed has never been politically independent of the US government, and it has enthusiastically helped fund the US government both in wartime and in peacetime.
Rumor has it that the Federal Reserve was able to resist the president‘s demands to enable funding of the Korean War. However, a look at the record demonstrates conclusively that the Fed bowed to Harry Truman‘s wishes to do what it has done for a century: finance America‘s wars.
It is easy to think of inflation as just being economic in scope. Yet, as inflation becomes an expected part of the body politic, it affects the culture as well, encouraging everyone to try to live beyond their means.
Thanks to massive federal intervention into the housing markets for more than 20 years, the housing crisis is worse than ever. The outlook for multi-family housing is especially bad with a bleak future.
Rumor has it that the Federal Reserve was able to resist the president‘s demands to enable funding of the Korean War. However, a look at the record demonstrates conclusively that the Fed bowed to Harry Truman‘s wishes to do what it has done for a century: finance America‘s wars.
The Trump White House has enacted tariffs in the belief that other countries are “cheating” by enacting tariffs against US goods and “manipulating” their currencies. However, with the US dollar being the world's reserve currency, the US has engaged in dollar manipulation through inflation.
In a sound monetary system and a free market, overall prices would generally fall as the economy grows faster than the money supply, enabling people to purchase more with their money.
From Vietnam to Iraq, Pentagon insider Karen Kwiatkowski reveals firsthand how government lies drive America's wars—and how courageous whistleblowers fight back with truth.
Is the Federal Reserve truly independent? Jonathan Newman uncovers the myths behind the 1951 Treasury-Fed Accord.
Following World War II, Congress imposed mandates on the Federal Reserve in the areas of employment, inflation, and interest rates. Not surprisingly, the Fed has failed in all three areas. It is time to recognize failure and abolish the Fed altogether.
