1/27/23 Ryan McMaken on How the Fed Is Ripping Us Off

Scott Horton Show - Just the Interviews

Scott Horton

News, Politics

4.8 • 902 Ratings

🗓️ 31 January 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Ryan McMaken of the Mises Institute joins Scott to discuss the ill effects central banking has on the country. McMaken wrote an article recently pointing out that the Federal Reserve, America’s central bank, is technically bankrupt. Scott has McMaken explains how that’s true and why the costs of a bankrupt Fed are felt by us all. Scott and McMaken also address some common points about inflation made by the left and examine what they get right and where they go wrong. The two also look at today’s economy to try and work out where we are in the boom-bust cycle. Discussed on the show: “Why the Fed Is Bankrupt and Why That Means More Inflation” (Mises.org) What Has Government Done to Our Money? For a New Liberty: The Libertarian Manifesto Ryan McMaken is a senior editor at the Mises Institute. He has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities and Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre. This episode of the Scott Horton Show is sponsored by: Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott. Get Scott’s interviews before anyone else! Subscribe to the Substack. Shop Libertarian Institute merch or donate to the show through Patreon, PayPal or Bitcoin: 1DZBZNJrxUhQhEzgDh7k8JXHXRjY Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	All right, y'all welcome to the Scott Horton's show.
0:02.0	I'm the director of the Libertarian Institute.
0:09.0	I'm the director of the Libertarian Institute,
0:14.8	editorial director of anti-war.com.
0:17.6	Author of the book, Pools Arren,
0:19.6	time to end the war in Afghanistan,
0:21.6	and the brand new enough already. Time to end the war in Afghanistan and the brand new enough already time to end the war on
0:24.8	terrorism and I've recorded more than 5,500 interviews since 2003 almost all on
0:31.3	foreign policy and all available for you at
0:34.3	Scott Horton.org you can sign up the podcast feed there and the full interview
0:39.1	archive is also available at YouTube.com slash Scott Horton's show.
0:46.0	All right you guys on the line I've got Ryan McMacken he's an economist and senior
0:50.2	editor at the Ludwig von Mises Institute, that's Meises.org, center of
0:58.2	Austrian economic thought in America over there. Welcome back to this show. Ryan, how are you doing sir?
1:04.8	Scott, I'm great. It's good to be with you. Good. Happy to have you here.
1:09.0	Listen, you wrote this article, Why the Fed is bankrupt and why that means more inflation and I didn't
1:15.3	understand it but it seems very important so I just don't have enough of the
1:21.7	background to make heads or tails of this thing but I hate the Fed and I'm sure it's bad
1:26.1	So why don't you go ahead and explain this thing in English and I'll see if I can grock that
1:30.9	Well, it was only a few years ago that I started really thinking about it because I never really thought about how the Fed buys up all of this stuff.
1:40.0	So that's, I think that's the key first step. So Federal Reserve, it's this big Central Bank, and they buy since 2008, and that's a pretty new thing. They didn't use to do this very much. They've bought up trillions of dollars of assets. And what that really just means mostly is like debt or bonds or securities.
2:03.2	So in the case of the Fed since 2008,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Scott Horton, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Scott Horton and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.