'Inflated: How Money and Debt Built the American Dream' - Freedomain Radio Interviews Chris Whalen

Podcast: http://www.fdrurl.com/FDR1908

http://www.rcwhalen.com

Christopher Whalen is co-founder of Institutional Risk Analytics, a unit of Lord, Whalen LLC, the Los Angeles based provider of bank ratings, risk management tools and consulting services for auditors, regulators and financial professionals.

He leads IRA's risk advisory practice and consults for global companies on a variety of financial and regulatory issues.

Christopher is the author of the new book, "Inflated: How Money and Debt Built the American Dream."

Christopher currently edits The Institutional Risk Analyst, a weekly news report and commentary on significant developments in and around the global financial markets.

He also contributes articles on the Reuters and Zero Hedge web sites. Christopher has testified before the Congress and the Securities and Exchange Commission on a range of financial and other issues.

Christopher is a Fellow of the Networks Financial Institute at Indiana State University. He is a member of Professional Risk Managers International Association and volunteers as a member of the steering committee for PRMIA's Washington D.C. chapter. He was regional director of PRMIA's Washington D.C. chapter from 2006 through January 2010.

Christopher is a member of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA) and the Global Interdependence Center in Philadelphia.

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[MrHeiwa07]

Good interview!

[stefbot]

@MrHeiwa07 thanks!

[Jollyprez]

Stefan was very polite, but holy crap this guy has things wrong. Use the Sherman acts to break up the banks?? All you have to do is STOP bailing them out! We don't have a democracy, we have a republic. It's more than semantics, it's precision in thought and speech. A Trust is nothing more than a different way to form a company. Just as a corporation or Limited Liability Partnership are ways of forming companies.

[NIK4EVA]

Mr. Whalen still believes in the broken system.

[bizwiz21]

'Teddy' was a disaster.

[i8neo]

I wish I could learn more history faster.

[imigrantpunk]

From everything Mr Whalen said it sounds like deflation would be the effect. How does he conclude the opposite?

[DragonYearJoji]

the reflection in his glasses is really distracting.

[PanzerDivisionBOM]

-

- the cartel powers granted to it by the US government. No other currency service provider in the US benefits from legal tender laws, protection against counterfeiting and special tax incentives for using their money, and the US national state actively persecutes its potential competitors (see the Liberty Dollar incident).

Under a system of freely competitive currencies, it would not last a month. That's how private an enterprise it is.

[PanzerDivisionBOM]

@ace1sod

"The Federal Reserve Act (ch. 6, 38 Stat. 251, enacted December 23, 1913, 12 U.S.C. ch.3) is the Act of Congress that created the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue legal tender. The Act was signed into law by President Woodrow Wilson."

Thank you, Wikipedia!

The simple truth of the matter is that the Federal Reserve derives its authority from -

-

[andrewh817]

It's called the American Dream because you have to be asleep to believe it!

[Helionaeic]

So his basic premise is Corps want to limit competition so they form trusts and cartels to do so and we need the glorious government to break them up and restrain them?

Corporations use the government's legal system to make rules that inhibit or prohibit competition. The question is, if there was no governmental monopolistic legal trust, could corporations even exist, much less pay off politicians to make rules to keep the other guys out?

The root is the legal trust.

[Helionaeic]

@13:57 he says we need another Teddy R. to bust up some of the banks and companies and restore opportunity to the economy. And then in the very next sentence says "I don't believe in an interventionist state, but I believe the fed gov should follow Teddy's dictum of when a company acts with malice it needs to be broken up"

Wow... I don't believe in intervention, except when I believe in intervening.