Episode description
The Mises Institute’s documentary, “Playing with Fire,” critiques the Federal Reserve and its impact on the U.S. economy. It argues that the Fed, despite its intended role, destabilizes the economy through actions like fractional reserve banking and money creation. The documentary traces the history of the Fed, highlighting its increasing power and influence, especially after the abandonment of the gold standard. It suggests that the Fed’s policies lead to boom-and-bust cycles and benefit certain groups at the expense of others, particularly through inflation. The documentary presents an Austrian School of economics perspective, advocating for limiting government intervention in monetary policy and considering alternative monetary systems like a gold standard or sound money. The documentary questions the necessity of the FED in securing the country’s financial future.
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