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Will the FED Crash the Market? How Easy Money Broke The American Economy | Chris Leonard Interview
Manage episode 321239016 series 2999457
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The Federal Reserve has broken our American economy and I sit down with Chris Leonard to discuss his new book that details how our monetary system ended up here teetering on ruin. Chris is a New York Times best selling author and his new book The Lords of Easy Money: How the Federal Reserve Broke the American Economy is a "fascinating and propulsive story about the Federal Reserve" and how quantitative easing and political posturing have put America's monetary system in peril. I talked to Chris about how the United States Federal Reserve has printed an astronomical amount of money under FED Chairs Ben S. Bernanke, Janet Yellen, and Jerome Powell. We dig into why the Federal Reserve was originally created and how the institution has changed over the years to become, as meme lords would put it, the folks who make the "money printer go brrr". Chris offers his insights into why a crash is all but imminent for the American economy and what role inflation plays in accelerating this in 2022.
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00:00 - Subscribe and Fight Big Tech
00:39 - How has the FEDs money printing recently been unprecedented?
03:19 - How the FED has jumped the shark from its original thesis
06:56 - Becoming a lender of last resort to everyone
09:32 - How the FED does quantitative easing
16:14 - Purchasing corporate junk debt
19:20 - The Federal Reserve is now a backstop for the Federal Deficit? How does that work?!
24:37 - Is it even possible to avoid a crash now?
30:32 - The FEDs failed attempts to normalize the economy
32:33 - Have Americans lost confidence in the FED?
37:27 - Has the FED lied and set us up for ruin with its short term actions?
46:19 - When will the U.S. economy crash happen?
48:24 - What should Americans do with their money?
50:16 - Is China's manipulation of its monetary system worse than the U.S.?
53:56 - Closing remarks
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