The Original Purpose of the Federal Reserve

The Federal Reserve was founded in large part to act as the lender of last resort. The fraction of the Federal debt owned by the Federal Reserve is roughly double today what it was 20 years ago. Antony: I think I can make a bigger dent at A.I.E.R. than I ever could trying to become the libertarian candidate for president. Jesse asks, are you guys still playing to run for the 2024 presidency? Yeah, no. Tell them why, James.