Defending the Undefendable: Is the Federal Reserve the Good Guy Right Now?
I talk with Tom Luongo
Tom Luongo likes to pull on threads. He keeps pulling no matter where they take him, even they lead places that challenge some of the most deeply held convictions of libertarians.
In this episode, we talk (again) about Tom's view that – in this particular moment in time – we might want to be cheering for the US Federal Reserve, because it could be that it is fighting a beast that is much bigger, more dangerous, and has the potential to centralize power over our lives in ways that even the Fed cannot. Tom gives us some indicators to watch for in the coming months, that he says will support his thesis.
Is Tom right? Listen to the episode and decide for yourself.
You can find Tom here, where he hosts a podcast and produces an intensely well-researched and thought out newsletter covering financial and geopolitical issues of the day. He is also active on Twitter/X.
My previous episode with Tom Luongo is here. And I appeared on Tom's podcast a while ago, here.
The video of this episode is here:
Caught this on Spotify yesterday and was wondering if you'd post it here. Great talk!
the 1830s wasn't the “right time” to destroy the central bank either, but thats only because there is literally never a “right time”, but in the 1830s they did it, and they did so skillfully and with well designed replacements that performed what people actually wanted from it even better. Given how rarely an opportunity presents itself to do so, any time there is an opportunity is the closest your going to get to a "right time"