[Video] Stossel show on the Federal Reserve - 10/24/13

[jct74]

[update] part 1 of show:


http://www.youtube.com/watch?v=CybMMsqos8g
http://www.youtube.com/watch?v=CybMMsqos8g


parts 2 thru 6:
http://www.youtube.com/watch?v=Ij3LP0pc0tw
http://www.youtube.com/watch?v=SLc1pCqPwm0
http://www.youtube.com/watch?v=6Npp_0hr7b8
http://www.youtube.com/watch?v=9Lu_NzWhqLM
http://www.youtube.com/watch?v=CZRcEWp0ZjE


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[jct74]

http://www.foxbusiness.com/on-air/stossel/sites/foxbusiness.com.on-air.stossel/files/wmon_fed_up.png


Stossel has done hundreds of TV shows, but always avoided the Fed. It's too boring. But now Fed chairs, appointed by both Republican and Democratic presidents, have increased central planning of our economy more than ever before. It's time to look at the Fed. Since it can destroy your savings, and affect whether you have a job, or a future.


THE FEDERAL RESERVE: This year, quietly, the Fed bought gov't bonds, bank paper and lent money to banks, raising its balance sheet (our balance sheet) to $3.6 trillion dollars, just as much as the entire government spent. And most people have no clue about it.

When Stossel asked in Times Square, people didn't even know what the Fed was.


INFLATION: The dollar has lost 96% of its value since The Fed started. It takes $23 to buy what a dollar bought 100 years ago. By printing so much money, the Fed risks causing vicious inflation.

After World War I, Germany's central bank started buying German bonds to fund reparations and other spending. Sound familiar? German marks became worth less and less... so much so shoppers needed wheelbarrows to carry cash to the store to buy groceries. Could that happen in America?


"FED" UP: Ron Paul says we need to abolish The Fed. He used to be the only politician saying that. But for this week's show, Stossel struggled to find a guest to support it.


FUTURE OF THE FED: Over the next few weeks, we'll hear more about Janet Yellen, the President's nominee for Fed Chair. Some will praise her; others will attack her. Stossel doesn't much care who the chair is, all the candidates share the same belief: they, a dozen old white people, can manage our economy.

What conceit! No 12 people, however knowledgeable, can know enough. Knowledge is dispersed throughout our economy. When central planners try to manage an economy, they usually make things worse.

http://www.foxbusiness.com/on-air/stossel/index.html

[matt0611]

Nice. Will have to catch that one.

Stossel gets a decent amount of flack (he's not completely sound on everything) but he does some really great shows on many relevant issues.

[economics102]

This could be really good. Stossel is very skilled at presenting libertarian ideas in a way that's understandable and sensible. I think he's one of the best communicators we have, frankly.

[Bastiat's The Law]

Stossel has his shortcomings, but his heart is in the right place. Will watch this.

[jct74]

bump

[jct74]

Stossel was on Fox Business today previewing his show about the Fed, also says he is a buyer of bitcoin.



http://www.youtube.com/watch?v=gT7Zm-oeL7Q
http://www.youtube.com/watch?v=gT7Zm-oeL7Q

[jct74]

another Stossel appearance today to promote his show, on Fox Business with Stuart Varney



http://www.youtube.com/watch?v=V6294Siv95w
http://www.youtube.com/watch?v=V6294Siv95w

[jct74]

Stossel on Fox & Friends this morning with Steve Doocy and Elizabeth Hasselbeck, brings a wheelbarrow full of cash to make his point



http://www.youtube.com/watch?v=coL3hnWgzLI
http://www.youtube.com/watch?v=coL3hnWgzLI

[jct74]

this guy on youtube takes offense to Stossel's comments on Fox & Friends this morning



http://www.youtube.com/watch?v=oCwi1zKDy7U
http://www.youtube.com/watch?v=oCwi1zKDy7U

[Henry Rogue]

Why was he avoiding it?

[Athan]

this guy on youtube takes offense to Stossel's comments on Fox & Friends this morning/.
Let me go through his incorrect items.

1. Yes. Fed polices can bring about hyperinflation. Inflation by its true definition is increase of the money supply. Not the general rise of the prices of goods. Quantitative Easing is EXTREMELY worried about this, this is why only the Fed charter members are the ones that recieve the new credit, and are concerned about having all the easy credit enter the market.

2. The collapse of the Weimar republic's currency did lead to economic conditions to make Hitler rise to power.

3. The fed has not "always" stimulated the economy. It began in 1913, further Paul Volker did not stimulate money in the 80's.

4. It isn't because just Obama was in power, these concerns rose from 2008's when Bush bailed out central banks. That is when the warnings began, Obama is simply CONTINUING Bush policies.

5. Economists can't predict when. There is no formula model for timing. Not all conservative economists have been giving time frames such as Ron Paul or Jim Rodgers.

6. They have actually been right every step of the way. Specifically Ron Paul since 2001 calling out Alan Greenspan.

7. This isn't a issue of the "President of the United States". He has no power to manipulate interest rates. That is not his JOB either.

8. Austrian economists are the ones that are pointing out the business cycle. Libertarians are concerned, but that doesn't mean they are familiar with Austrian economics.

[jct74]

Ron Paul confirmed guest

393471691524820992

[JK/SEA]

Why was he avoiding it?

the guy with the gun to Stossels head got pulled away to help man the Obama health ins. phone lines...

good to go now...

[Bastiat's The Law]

Stossel brought up inflation being reasonably low at 1-2%, but doesn't that inflation get compounded year by year? Americans have lost nearly 70% of their purchasing power since 1960.

[jct74]

bump

[Henry Rogue]

Watching it now.

[Occam's Banana]

Stossel brought up inflation being reasonably low at 1-2%, but doesn't that inflation get compounded year by year? Americans have lost nearly 70% of their purchasing power since 1960.

That's like a frog describing the temperature of the water he's slowly boiling in as being "reasonably warm" ...

[DFF]

Stossel didn't answer his own question: What is the Fed?

The answer is the Fed is a private banking cartel with public aspects.

JPM, Bank of America, Citigroup, Wells Fargo, Goldman Sachs etc....these banks are the Fed.

The US dollar is not under any real government control, but is in fact controlled by private banks.

Obviously, this is a HUGE problem....

The solution: repeal the Federal Reserve Act and restore the power of issuing currency to the US Treasury.

[Henry Rogue]

Might have to check out the book "Hidden Order".

[Henry Rogue]

Why was he avoiding it?
Well, he answered my question. Because the fed is a boring topic and he is afraid of losing ratings.

[Matt Collins]

can't wait to see the full version

[jct74]

re-airing tonight of Fox News instead of Fox Business


394539147337007104

[Matt Collins]

Is it on Hulu yet?

[Bastiat's The Law]

The Fed really ain't that complicated Stossel. Have these guys on your show to break it down.


http://www.youtube.com/watch?v=piC3d2vB8uo

[jct74]

Is it on Hulu yet?

looks like the most recent episode is October 3rd

http://www.hulu.com/stossel

[matt0611]

Saw it, was pretty good.

Had some good guests, Ron Paul, James Richards, George Selgin, and Jim Bruce (producer of the documentary Money From Nothing).

[Carson]

One of his best shows that I can remember.

[NorthCarolinaLiberty]

this guy on youtube takes offense to Stossel's comments on Fox & Friends this morning



http://www.youtube.com/watch?v=oCwi1zKDy7U
http://www.youtube.com/watch?v=oCwi1zKDy7U







I don't know this person in the video, but wonder where's he been for the past five years that he cites. We're experiencing death by a thousand cuts, and it seems he hasn't seen a drop of blood.

[Bastiat's The Law]

Does anyone have to full episode?

[jct74]

part 1:


http://www.youtube.com/watch?v=CybMMsqos8g
http://www.youtube.com/watch?v=CybMMsqos8g


parts 2 thru 6:
http://www.youtube.com/watch?v=Ij3LP0pc0tw
http://www.youtube.com/watch?v=SLc1pCqPwm0
http://www.youtube.com/watch?v=6Npp_0hr7b8
http://www.youtube.com/watch?v=9Lu_NzWhqLM
http://www.youtube.com/watch?v=CZRcEWp0ZjE

[DFF]

"The Fed is a small group of old white people who get to make decisions about your money."

White??? lol

[Matt Collins]

just watched it, thanks for posting.

[GunnyFreedom]

The Fed really ain't that complicated Stossel. Have these guys on your show to break it down.


http://www.youtube.com/watch?v=piC3d2vB8uo

Sub-bumping to remember to watch the above later

ETA - forum Flash did some weirdness there for a bit but I fixed it.