How the Federal Reserve System Harms the Economy

Jeremy R. Hammond explains how the Federal Reserve system harms the economy by effecting a transfer of wealth upward, serving the interests of the political and financial elite at the expense of the rest of society.

I had the pleasure this week of speaking with Mance Rayder of the Free Man Beyond the Wall podcast for a third time, this time to talk about the role of the Federal Reserve. In our above discussion, you’ll hear me explain the purpose of the Fed and how it serves the interests of the political and financial elite at the expense of the rest of society. I explain the mechanisms of how this upward transfer of wealth occurs, as well as how the Fed’s monetary inflation causes the business cycle of unsustainable booms and inevitable busts.

Learn more about my book Ron Paul vs. Paul Krugman: Austrian vs. Keynesian Economics in the Financial Crisis!

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