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The Peter Schiff Show Podcast

PBS Frontline Misses the Fed’s Real Power to Destroy – Ep 716

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 19 July 2021

⏱️ 77 minutes

🧾️ Download transcript

Summary




* The power to inflate is the power to destroy.
Fed ensures most Americans are living on the edge.
* Quantitative Easing is just another word for government debt monetization.
* We’re always just one bubble away from the next financial crisis.
* Government creates a moral hazard with every subsidy it gets involved in.
* Power is most dangerous when it’s not understood by those wielding it.





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Transcript

Click on a timestamp to play from that location

0:00.0

The Painter's Ship Show

0:09.0

Today's podcast is sponsored by Indeed. Indeed is the job site that makes hiring as easy

0:15.5

as 1, 2, 3 post screen interview all on Indeed. If you're hiring then you need Indeed.

0:23.7

It started with a free $75 sponsored job credit to upgrade your job post at Indeed.com slash

0:31.1

Peter, Offer Valid through September 30th, Terms and Conditions Apply, and the podcast is

0:38.3

also sponsored by Literati. Literati is the subscription book club that makes it easy

0:44.7

to get unique and interesting books delivered to your door. You can redeem your 30-day trial

0:51.2

for only 99 cents at literati.com slash goal. A lot of people had been messaging me on Instagram,

1:01.2

on Twitter that I had to watch this new documentary by Frontline, The Power of the Fed. And so I finally

1:10.8

got around to watching it this morning. And you know, before I watched it, my expectations

1:17.5

were not that high. After all, it's PBS, public broadcasting, right, a government entity. So the

1:24.4

bar was set pretty low in my mind. Even though a lot of people had told me, hey, this is really good,

1:29.6

they really exposed the Fed and they're very critical. The Fed, you know, I really wanted to see it

1:34.6

for myself before I reached any conclusions. So I watched the documentary. And you know what?

1:43.4

As low as I set the bar, I didn't set it low enough because they didn't even meet my low expectations.

1:49.8

I did not think this documentary did a good job at all of exposing the Fed. In fact, I don't even

1:56.6

think it was really a documentary. I think it was more of a propaganda piece than a legitimate

2:03.3

investigatory news story. First of all, the host, a correspondent, was a guy by the name of James

2:11.0

Jacobi. And so he's the guy that narrates this and does all of the interviews. And from my

2:18.0

perspective, what I really think the agenda was behind this supposed documentary was not so much

2:28.1

to say, hey, the Fed is a bad actor. The Fed is responsible for these problems. It was really to

2:33.9

say that the Fed is using its power incorrectly, that the Fed is concentrating its powers on the

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