Federal Reserve: Monopoly or Lender of Last Resort? On Full Disclosure Network(R) Internet TV Series (Segment 2 of 6)
WASHINGTON, March 26, 2014 /PRNewswire-USNewswire/ -- The Federal Reserve debate continues, with surprising agreement between Scott Minerd, Chief Investment Officer and Founding Partner of Guggenheim Partners, who is also a member of the New York Federal Reserve Bank's Market Advisory Board, and G. Edward Griffin, author of "The Creature from Jekyll Island," in this 2 minute preview video here of the second of six segments on Full Disclosure Network(R) Internet Video Series. Griffin considers the fiat money, with no precious metals to back it, an insidious tax on the people. He argues that to moderate to deflation/inflation cycles, Congress took the wrong approach by allowing states to print more fiat money with no reserves to back it up. Minerd posits that by creating additional credit to allow the U.S. government to finance World War I, inflation spiked at an unacceptable high, and that was arguably and ultimately the part of the issue that created the Great Depression. Watch the full video report here: http://www.fulldisclosure.net/2014/03/fed-reserve-monopoly-or-lender-of-last-resort-651-2/
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