Conflicting ideologies continue in Full Disclosure Network’s series and debate over the proper role of the Federal Reserve System. The series features G. Edward Griffin, author of “The Creature from Jekyll Island,” and Scott Minerd, Chief Investment Officer and Founding Partner of Guggenheim Partners. Minerd is also a member of the Market Advisory Board to the New York Federal Reserve Bank. Watch the 2-minute preview video here from this third segment of Part 2 on Full Disclosure Network(R) Internet Video Series. Scott Minerd points to two instances in the Federal Reserve’s history when the downside of economic activity was extremely painful, the Great Depression of the 1930s, and most recently, the financial crisis often referred to as the Great Recession. He credits the Federal Reserve for acting aggressively in stopping the decline of asset prices in the latter event by creating money. Griffin faults the process that disallowed busts following booms to play themselves out, likening the process to prescribing increasing doses of narcotics to postpone the awareness of an advancing disease. He states it’s not unreasonable to conclude that the stated objectives of the Federal Reserve weren’t its true objectives. Watch the full video report here: http://www.fulldisclosure.net/2014/05/federal-reserve-friend-foe-652-3/
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