Ep. 510 The Truth About the Federal Reserve: A New Strategy for Conveying It
The Tom Woods Show
Tom Woods
4.8 • 3.4K Ratings
🗓️ 13 October 2015
⏱️ 35 minutes
🧾️ Download transcript
Summary
It's hard to get a lot of people to accept our critique of a longstanding institution like the Fed. Frankly, it's hard to get them to accept much of what we believe at all, given that for at least a dozen years they've been systematically taught the opposite. Maybe we're going about this wrong. My guest and I have a compelling discussion about what might work instead!
Transcript
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| 0:00.0 | The Tom Woods Show, episode 510. |
| 0:03.3 | Prepare to set fire to the index card of allowable opinion. |
| 0:08.1 | Your daily dose of liberty education starts here, the Tom Woods Show. |
| 0:14.1 | You're probably not going to find a lot of places that pay you five bucks just for existing, |
| 0:18.7 | but I did. Inbox dollars pays you for doing things online that you're |
| 0:22.5 | doing anyway. Plus, get a $5 bonus just for signing up through tomwoods.com slash inbox. |
| 0:29.8 | Welcome to episode 510. Today we're talking about the Federal Reserve System, but in a different |
| 0:35.7 | way from how we might talk about it normally. |
| 0:38.7 | What we want to keep in mind is the following problem. We're trying to reach people who are 20 |
| 0:44.1 | years old, 25 years old, 30 years old, 40 years old. We're trying to reach people after they've |
| 0:49.9 | gone through 12, 13 years of being told that the institutions of government are there to help |
| 0:56.6 | you, and if the government creates something, it's there to benefit you, and so on and so |
| 1:00.5 | forth. Well, the federal government created the Federal Reserve by an act of Congress in |
| 1:05.2 | 1913, so it must be there for my benefit. So, in other words, people have built into them |
| 1:10.5 | the exact opposite instinct |
| 1:12.3 | from the one they should have, which is skepticism toward government institutions. To the contrary, |
| 1:17.7 | they're taught that they should believe in these things because they're there to benefit them |
| 1:23.8 | and to foster the general welfare. So the problem may be that we're getting people far too |
| 1:29.7 | late. Now, one approach to this, of course, is the approach that I'm taking with the Ron Paul |
| 1:34.5 | curriculum, which is give people the chance to hear the freedom philosophy, the liberty point |
| 1:41.3 | of view, so that they don't hear just the pro-government point |
| 1:44.9 | of view, and let them hear it from the moment that they're young, and then they grow up and they |
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