The Lords of Easy Money: How the Federal Reserve Broke the American Economy Free Audiobook Download by Christopher Leonard
The Federal Reserve is known for a lot of things. Holding inflation down, creating the stock market, and bailing out Wall Street during the 2008 financial crisis are just a click away online. But most Americans don’t know that the Fed also helped to create the Great Recession.
Christopher Leonard, author of 'The Lords of Easy Money: How the Federal Reserve Broke the American Economy,' claims that Wall Street and Washington have been illegally manipulating us into spending ourselves into oblivion for decades.
The Federal Reserve has just been given a new rule of thumb for lending money. They will no longer be required to maintain reserves at the Bank of New York, which will allow the bank to lend out up to $500 billion more than they have currently. This is bad news for the American economy because it will create even more debt than before and will put the onus on taxpayers to pay it back.
Christopher Leonard's book is a must-read for all Americans. With one grand gesture, the Federal Reserve created the conditions for bubble after bubble following the 2008 financial crisis. What America got in return was a crippling inflation and what appears to be a permanent recession.
"We have been ruined by easy money and a bubble economy" is the first sentence of Christopher Leonard's 2013 book, The Lords of Easy Money. The audiobook chronicles the havoc that the Reserve Bank of New York caused on America and its people in particular during Alan Greenspan's tenure as chairman of the Federal Reserve. More specifically, it speaks to how Alan Greenspan, who was quoted saying "If you put your money in a bank, you don't own it," acted as if he were "God" and manipulated American policies over a period of almost two decades to his personal advantage.
In the 1920s, America's economy was booming and the stock market was greased by Wall Street money. When an economic downturn hit in 1929, the Federal Reserve - a private bank owned by the country's richest and most powerful men - stepped in to save the day. The Fed began printing money and handing it all out to banks, which they then loaned back to their customers at interest. This is how easy money begets easy money which begets easy money...but instead of rewarding those who earned it, those in power steal it all and redistribute it back to themselves.
|Duration||10 hours 19 minutes|
|Is It Free?||30-days Free|
|Category||Business & Economics|
|Parent Category||Accounting & Finance, Economics|