What Is The Fed's "Doomsday Book"?

Ron Paul Liberty Report

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🗓️ 15 December 2023

⏱️ 26 minutes

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Summary

Thanks to a FOIA request, an internal document from the Federal Reserve, known as the "Doomsday Book" has been released. The purpose of it is to guide The Fed's actions during emergencies. Emre Kuvvet, professor of finance at Nova Southeastern University says "the central bank—or at least the legal team at its dominant member bank—apparently believes it can rely on precedent to justify virtually any emergency action." Do laws lose their purpose when virtually anything can be justified? Perhaps Tacitus was right: "The more corrupt the state, the more numerous the laws."

Transcript

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0:00.0	Hello everybody and thank you for tuning in to the Ron Paul Liberty Report.
0:04.4	With us today we have Chris Razzini, our co-hosts.
0:07.5	Chris, welcome to the program.
0:09.7	Great to be with you, Dr. Paul.
0:11.1	Good. We have a few interesting subjects today.
0:14.2	We do want to talk about the information coming out and the articles written about the
0:20.4	Doomsday book.
0:21.7	And that sounds sort of really scary but we'll talk about that but
0:26.3	before we do that I want to visit for a few minutes on an article that appeared
0:32.3	originally in the Birch Gold Group.
0:36.0	And that is written by Brandon Smith, a person we know and follow,
0:41.0	because he's certainly done our alley on all the monetary issues.
0:47.0	But his point of his article today that I find interesting because there's more to it's nice to say inflation
0:56.3	print money prices go out but it does get a little more complicated than that
1:00.4	because there are a lot of variables and there is a position in Austrian
1:05.4	economics about the subjective theory of values so people can do what they want
1:09.8	and human action explains all that so it's not ABC and that's why the
1:15.0	why the human action is support and that's why the Austrian economists don't
1:19.7	depend on computers.
1:21.4	The computer people just say well we'll take ABC, put them together
1:25.2	and manufacture it. We know what the people are going to do. Well, they don't. They don't
1:30.2	know that because people change their minds and sometimes they prepare for war
	...

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