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Mark Thornton opens with a warning from Jackson Hole: the Fed’s public mandate is a cover story. Its real job is to serve the big banks and the state by keeping deficits, debt, and financial markets afloat through the power of printability. New programs, wars, bailouts, and political promises all become easier when the Fed can create money with keyboard entries, while consumers pay later through higher prices, unemployment, and crisis.
On Side B, Thornton joins Wall Street Bullion to discuss gold, silver, commodity prices, the long-term consequences of paper money, the burden facing younger Americans, and the dangers of hyperinflation. He explains why boom-bust cycles begin with central bank credit expansion, why dollar-denominated assets become vulnerable in an inflationary environment, and why a bottom-up approach—sound money, savings, local resilience, and real assets—matters now.
See also "Tightwads at the Fed" (Minor Issues, Episode 56) https://mises.org/podcasts/minor-issues/tightwads-fed
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