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In this compelling episode of 'The Vivek Show,' host Vivek Ramaswamy is joined by Danielle DiMartino Booth, founder of Money Strong, LLC, and a former adviser at the Federal Reserve Bank of Dallas. They dive deep into the inner workings of the Federal Reserve, discussing its policies and their consequences on the global economy. Danielle sheds light on the questionable alliance between Wall Street and modern monetary theory, as well as the Fed's role in the 2008 financial crisis. She also shares her insights on the COVID-19 pandemic, the broken notion of trickle-down economics, and the rise of "unicorn" companies. Finally, they discuss the potential for the next US president to reform the Fed and the importance of strong leadership.
In this compelling episode of 'The Vivek Show,' host Vivek Ramaswamy is joined by Danielle DiMartino Booth, founder of Money Strong, LLC, and a former adviser at the Federal Reserve Bank of Dallas. They dive deep into the inner workings of the Federal Reserve, discussing its policies and their consequences on the global economy. Danielle sheds light on the questionable alliance between Wall Street and modern monetary theory, as well as the Fed's role in the 2008 financial crisis. She also shares her insights on the COVID-19 pandemic, the broken notion of trickle-down economics, and the rise of "unicorn" companies. Finally, they discuss the potential for the next US president to reform the Fed and the importance of strong leadership.
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Time-codes:
00:00:13 - Vivek's focus on reforming the Federal Reserve
00:02:07 - Danielle calls COVID-19 an "act of war" by China
00:05:31 - Danielle's book "Fed Up"
00:07:33 - The broken notion of trickle-down economics
00:08:12 - How Greenspan and Bernanke distorted price signals
00:11:26 - The Dodd-Frank Reform Act and its impact on small banks
00:13:01 - The 2007 Jackson Hole Symposium
00:15:05 - Negative effects of zero interest rates
00:15:48 - Federal Reserve's role in the 2008 financial crisis
00:17:27 - The boom of venture capital funding and "unicorn" companies
00:19:06 - Raising the capital requirements ceiling to $250 billion for banks
00:20:42 - BlackRock's involvement with the Fed
00:21:29 - Interest rates shouldn't have been reduced to zero after the 2008 crisis
00:22:34 - The shadow banking system
00:23:21 - Only one round of quantitative easing needed after Lehman
00:25:00 - Unequal benefits of low interest rates and asset inflation
00:27:04 - Modern monetary theory and its alliance with Wall Street
00:28:35 - Erosion of checks and balances in government
00:29:19 - Federal Reserve should safeguard the value of the US dollar
00:30:21 - Unfilled job openings due to people being paid not to work
00:31:27 - Opportunity for the next president to reform the Fed
00:32:05 - Importance of a market disciplining event
00:32:26 - A single large regulator for the financial system
00:33:22 - Allowing banks to fail without causing widespread
