Brian

Well, to me, it is. And nobody focuses on it. And, you know, what's fascinating is you go in every month or every well, every time the Fed meets, it's like eight times a year. They have a press conference and there's. 30 reporters that are handpicked by the Fed to come in and no one will ask them how they're paying to keep the lights on.

They just won't ask them because if they do ask, they'll not be ever invited back again. I've begged them to let me in and ask those questions. I've begged reporters to ask those questions. But so far, they haven't been asked and they haven't been answered. And the Fed, I give a talk and I call it the Fed. Federal Reserve has gone insane. I mean, I'm going to go back to what I said.

They just won't ask them because if they do ask, they'll not be ever invited back again. I've begged them to let me in and ask those questions. I've begged reporters to ask those questions. But so far, they haven't been asked and they haven't been answered. And the Fed, I give a talk and I call it the Fed. Federal Reserve has gone insane. I mean, I'm going to go back to what I said.

If you have a $100 bill in your wallet, 67 of those dollars were printed in the last 18 years. The other 33 in the previous 220 years or 30 years. And so what I'm getting to here is that the Fed has completely changed the way we manage monetary policy and hardly anybody complains about it. It's why we had inflation.

If you have a $100 bill in your wallet, 67 of those dollars were printed in the last 18 years. The other 33 in the previous 220 years or 30 years. And so what I'm getting to here is that the Fed has completely changed the way we manage monetary policy and hardly anybody complains about it. It's why we had inflation.

Yeah, well, first of all, they do have oversight. They can bring the Fed chairman in, ask him questions, embarrass them. But they also write the laws. The Congress started the Fed in 1913, changed the law again in 1973, and then we changed it again about – 10 years ago. And then Congress also gave the Fed this ability to pay banks interest on reserves. So Congress has a big role in this.

Yeah, well, first of all, they do have oversight. They can bring the Fed chairman in, ask him questions, embarrass them. But they also write the laws. The Congress started the Fed in 1913, changed the law again in 1973, and then we changed it again about – 10 years ago. And then Congress also gave the Fed this ability to pay banks interest on reserves. So Congress has a big role in this.

And they the problem is, is that Congress, most Congress people ever since Rand Paul's father left, don't really understand monetary policy. And therefore they get flummoxed in these hearings. And and they they They don't know enough about it to ask the right questions or to do the right thing.

And they the problem is, is that Congress, most Congress people ever since Rand Paul's father left, don't really understand monetary policy. And therefore they get flummoxed in these hearings. And and they they They don't know enough about it to ask the right questions or to do the right thing.

No, we haven't. And, you know, and here's the thing. The only thing that keeps the Fed in check really is, I mean, Congress has oversight, but it's really the public. And inflation, when it came, it was all because of this policy. And yet, like so many people have ignored that. When you explode the money supply like they did during COVID especially, That's where inflation comes from.

No, we haven't. And, you know, and here's the thing. The only thing that keeps the Fed in check really is, I mean, Congress has oversight, but it's really the public. And inflation, when it came, it was all because of this policy. And yet, like so many people have ignored that. When you explode the money supply like they did during COVID especially, That's where inflation comes from.

You print so many dollars that the value of the dollar goes down. You know, people say pizza costs more. And I'm a geeky economist. And I say to them, your pizza doesn't cost any more. Your dollar buys less because we printed too many of them. And now what's happening is the Powell, every member of the Fed, especially the chairman, they're politicians. And now he's blaming Trump on everything.

You print so many dollars that the value of the dollar goes down. You know, people say pizza costs more. And I'm a geeky economist. And I say to them, your pizza doesn't cost any more. Your dollar buys less because we printed too many of them. And now what's happening is the Powell, every member of the Fed, especially the chairman, they're politicians. And now he's blaming Trump on everything.

tariffs and inflation, and he's trying to get away from the fact that he is the one that caused it in the first place. And the public doesn't know enough about this to really be able to make a decision about who's really at fault.

tariffs and inflation, and he's trying to get away from the fact that he is the one that caused it in the first place. And the public doesn't know enough about this to really be able to make a decision about who's really at fault.

Yeah, so, I mean, if you just look back at COVID, you know, supposedly, gosh, all the arguments were COVID hits the lower class more than the upper class and certain groups of people more than others. And so we have to fix this and make things more equal. So we ended up running these massive budget deficits. We ended up printing all of this money.

Yeah, so, I mean, if you just look back at COVID, you know, supposedly, gosh, all the arguments were COVID hits the lower class more than the upper class and certain groups of people more than others. And so we have to fix this and make things more equal. So we ended up running these massive budget deficits. We ended up printing all of this money.

And what happened was the exact opposite of what they said was going to happen. If you had assets, if you own equities, if you own a house and inflation comes along and they print all this money, you win. If you don't have assets, you get crushed. And so I hope. that Scott in that quote and the Trump administration really does find a way to keep the Fed from ever doing this again.

And what happened was the exact opposite of what they said was going to happen. If you had assets, if you own equities, if you own a house and inflation comes along and they print all this money, you win. If you don't have assets, you get crushed. And so I hope. that Scott in that quote and the Trump administration really does find a way to keep the Fed from ever doing this again.

And in fact, I think they ought to shrink the Fed quite a bit and take away the power. We didn't even talk about the fact that the Fed somehow is able to fund climate change research, that the Chicago Fed is doing work on lead water pipes. And they have a community development office. I mean, they're out of control.