"What Does the Fed Do?" with James Grant -- Ron Paul Fed Lecture Series, Pt 2/3

Rep. Ron Paul sponsored this Congressional lecture on "What Does the Fed Do?", the second lecture in a three part series on the Federal Reserve System for Congressional staff. As a continuing educational tool this lecture was filmed and is provided to the public. The lecture was delivered by James Grant, founder and editor of Grant's Interest Rate Observer and a frequent commentator on financial news networks.




Mr. Grant's lecture summarizes the methods the Federal Reserve uses in its attempt to manage the economy through the conduct of monetary policy, dissecting the euphemistic language behind the Fed's actions and describing in detail the problems with the Fed's endeavor to be an "economic seer." Mr. Grant also bridges the gap between the lectures on the pre-Fed era and the Fed's future by describing the evolution of the Fed over its one hundred year history.


Other lectures in the Fed series:
Pt. 1: Why Was the Fed Created? -- http://www.youtube.com/watch?v=JeIlji...
Pt. 3: What is the Fed's Future? -- http://www.youtube.com/watch?v=IdX60J...

Related: Ron Paul Money Lecture Series
Pt. 1: "What is Money" -- http://www.youtube.com/watch?v=vowbrq...
Pt. 2: "What is Constitutional Money?" http://www.youtube.com/watch?v=k6gMkK...
Pt. 3: "What About Money Causes Economic Crises?" -- http://www.youtube.com/watch?v=npJ0CU...

• Category

  News & Politics

[ironchops]

Banking is the world's greatest criminal racket. By design money flows from the bottom to the top. It isn't that the fed can't forecast financial chaos, it is that the fed creates times of financial chaos and profits from such events. That is what happens and the rest of this conversation is just annoying noise. The bankers also own big business. All regulation is aimed at minimizing competition for big business so Congress is also owned by the bankers. The United States are being scavenged.

[zaidgs]

When will the third part come?!

[godspawn007]

Probably true, but at some point, if credit does not flow, then the monetary value of money is irrelevant, no? And if the only way to boost the economy is to put more debt on the consumer's backs by way of the tax system, the system isn't working right? And no matter what anyone says I will always agree with Jefferson; banks are more dangerous than standing armies.

[Mike Fedyk]

You're in a space ship that orbits the earth looking out the window at the moon. You say "no proper moon has such an orbit, I say it's an asteroid!". And you would be wrong. The value of scarce metals when measured with something that itself has wide swings in value will be quite volatile, but you are actually seeing the volatility of the currency, not the scarce metal.

[Mark Zhang]

like that beautiful and smart lady

[hjillagen]

Yep Lydia is a pretty girl, smart too! :)

[oaccessasia]

She is hot!

[godspawn007]

Money in and of itself is not, I repeat is not, a good or service that has real value. Money even gold and silver value has changed. SO I ask you is there any real money. The true and ugly answer is that there is none. Although it makes exchange of goods much easier, it does so at the cost of the consumer. True goods and service trade would be better for the world, although much more difficult, but it is probably where we are headed in the future.

[Gabriel21733]

Whoever prepared the mike for grant should be fired! One hears best the paper shuffling than the speaker...wtf!

[Gabriel21733]

@osurac2nd correct!

[Gabriel21733]

Excellent video