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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