On the 100th Anniversary of the Fed, The Great Fed Debate With Jim Grant!

Jim GrantOn the 100th anniversary of the creation of the Federal Reserve, we present a MUST WATCH historical discussion and debate on the Fed between the Interest Rate Observer’s Jim Grant, and NYU Professor Richard Sylla.  
Has the Fed, as Ben Bernanke said, “come full circle back to the original goal of preventing financial panics?   Or after 100 years, has the Fed nearly entirely destroyed the value of the dollar, to the enrichment of the banksters?
If the Fed was able to effectively control prices the Soviet Union would still be in business… The Fed has presided over the decay of finance, and the degradation of the dollar.  Retrogression in finance can be laid at the feet of the Fed & the regime behind it.  The Fed is the creation of a system of paper money, and socialized & subsidized credit.-Grant
Ironically, before the “debate” concludes, both Grant & Sylla end up harshly criticizing the Fed- particularly over manipulation of asset prices and the stock market in particular.
James Grant (at his finest) & Richard Sylla – The Great Fed Debate is below:

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  1. Off topic but most of the 4.1% GDP  print in 3Q was due to inventory channel stuffing and falsification of consumer buying.  the government spending was likely the rest of the GDP increase. 
    Without those factors, the GDP is estimated to be minus 1%.   Fed printing makes all this possible. 
    Don’t you feel wealthier now.  Maybe not so much off topic.

    • Not off topic at all. It is the very current that runs under everything TPTB do – rob from the future to paint a false positive narrative in order to both enrich themselves and to prevent conducting themselves in a responsible manner.

      p.s. something is going on with the site today.

  2. Good job reanimating that corpse and performing numerous surgical and non surgical enhancements to facilitate the  report.

  3. Well heck, we can’t all be mean to the ol’ Fed so I composed a birthday song
    Happy birthday dear Fed
    I wish you were dead
    Happy Birthday dear Ben
    You sure ain’t my fren’

    • that’s very charitable I’ve furthered it by composing a haiku with some holiday sentiments for them as well,
      The Fed should go die
      Their AIDS is infecting us
      Jump off a building

  4. Good one CDL 
    Since we are on the subject.  Here’s a Koan
    “What’s the sound of one banker jumping off a 65 story building’
    This is a trick question BTW.

  5. Good guess CDL 
    I was thinking the sound was drowned by the applause of 1,000,000 hands clapping.
      But douche is fitting.  A firehose would be a good start.

  6. :) :) :)

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