Ep. 158 The Fed and the 1%

The Tom Woods Show

Tom Woods

News, Government, Politics

4.8 • 3.4K Ratings

🗓️ 15 May 2014

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Mises Institute's Mark Thornton joins Tom to discuss a recent article in the Financial Times, and why its recommendations for Fed policy will benefit the wealthiest at the expense of everyone else.

Transcript

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0:00.0	I've abandoned free market principles to save the free market system.
0:09.9	In a world of conventional confusion, there will be time for them to make profits.
0:14.9	Now's not that time.
0:16.4	Daddy, what do taxes pay for?
0:18.2	Oh, why everything?
0:19.7	Policemen, trees, sunshine.
0:21.9	Let's not forget the folks who just don't feel like working, God bless them.
0:25.9	Don't be afraid.
0:26.7	I'll be afraid.
0:28.3	Prepare to unshackle your mind.
0:31.2	An idea who his time has come cannot be stopped by any army or any government.
0:36.9	Your professor has arrived.
0:41.0	Tom Woods.
0:42.5	Well, his mind is not for rent to any government.
0:47.1	Beware, citizen, you are now departing from the world of allowable opinion.
0:52.3	The Tom Woods Show. Welcome, everybody. It's Thursday, May 15th,
0:59.1	2014. And we've got Mark Thornton of the Meeses Institute with us today. He's going to give us a
1:05.2	sneak preview of an article he's got coming out next week. Critiquing a recent piece in the Financial Times by Martin Wolf.
1:13.7	We'll give you the details on that in just a minute, but let it suffice to say that this was a piece that amply deserved a refutation.
1:23.2	And we're going to have fun doing that with Mark today.
1:25.4	Mark Thornton is a senior fellow and resident scholar at the ludwig von meez institute mezes dot org is
1:31.4	the website m i s e s dot org he is the author of
	...

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