Jim Puplava’s devoted a special show to financial conspiracy theories on this week’s Financial Sense Newshour. Each year, Jim and John take two weeks off in August – so they usually prerecord a couple of shows packed with interviews to give us “FS Junkies” our fix!
It’s a little bit of a bizarre show – you’ll probably either love it or hate it, depending on your appetite for conspiracy type of talk. But though I am not usually big on these subjects, I have to admit I did especially enjoy the second hour of the show, which spotlighted the Federal Reserve. (And a hat tip to my friend JL for making sure I listened to it!) This segment is really more of a trip down memory lane than an outright conspiracy theory session – which is more up my alley.
Jim’s first guest here is G. Edward Griffin, author of The Creature from Jekyll Island: A Second Look at the Federal Reserve. Griffin looks at the (sketchy) origin of the Federal Reserve, and the ramifications we continue to live with to this day. You can catch the full interview here.
His second guest is Bill Still, who discusses the history of the Federal Reserve and central banking in the US. Also in play is the fractional reserve banking system – and the fact that as long as we have this type of system, we have the banks in charge of the money supply.
One final note – when asked “where this all ends”, Still (surprisingly, to me) says, if the situation is left unchecked, that we’re heading towards a deflationary spiral. A la Japan, or perhaps worse. Didn’t expect him to be a Deflationista!
All-in-all a very good listen, and Griffin’s book looks like a very interesting read (if you’ve read it already, please let us know what you thought!)
Also see: Fed, Bernanke Breakdown: More BS Than QE