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Ryan McMaken of the Mises Institute joins Scott to discuss the ill effects central banking has on the country. McMaken wrote an article recently pointing out that the Federal Reserve, America’s central bank, is technically bankrupt. Scott has McMaken explains how that’s true and why the costs of a bankrupt Fed are felt by us all. Scott and McMaken also address some common points about inflation made by the left and examine what they get right and where they go wrong. The two also look at today’s economy to try and work out where we are in the boom-bust cycle. 

Discussed on the show:

• “Why the Fed Is Bankrupt and Why That Means More Inflation” (Mises.org)
• What Has Government Done to Our Money?
• For a New Liberty: The Libertarian Manifesto

Ryan McMaken is a senior editor at the Mises Institute. He has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities and Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.

This episode of the Scott Horton Show is sponsored by: Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott.

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Peter Ludlow, a professor of philosophy at Northwestern University, discusses his New York Times opinion piece “Fifty States of Fear;” the interminable and wasteful war on terror; why Americans still aren’t rebelling against their increasingly totalitarian police state; and what American exceptionalism looks like when applied to foreign policy.

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Hillary Mann Leverett, professor of US foreign policy at American University, discusses Obama’s apparent victory against additional Senate-imposed Iran sanctions; the rare instances when the national interest trumps powerful foreign lobbies; how Israel and Saudi Arabia would benefit from US-Iran rapprochement (despite their kicking and screaming); and how the US could help broker peace in Syria without picking sides in the conflict.

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Doug Casey, a best-selling financial author and international investor, discusses the poor return on investment from US military and “security” spending; the problem with savings denominated in dollars; and the multifaceted catastrophe of full-blown currency collapse.

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Blogger Marcy Wheeler discusses Obama’s predictably disappointing speech on NSA reforms; the “pixie dust” Presidential Policy Directive; the Third-Party Doctrine’s attack on privacy; and how the NSA’s offensive cyber warfare degrades internet security for everyone.

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McClatchy journalist Mitchell Prothero discusses the Sunni-Shiite violence spilling over from Syria to Lebanon; disputes between fundamentalist Sunni rebel groups in Syria; and changing US foreign policy after 10 disastrous years in the Middle East.

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Trevor Timm, co-founder and executive director of the Freedom of the Press Foundation, discusses the addition of whistleblower Edward Snowden to their board of directors; how government employees can submit leaks with SecureDrop and remain anonymous; combining tech solutions and legislation to rein in the NSA; and how the Espionage Act prevents Snowden from getting a fair jury trial if he returns to the US.

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Peter Hart, Activism Director for Fairness & Accuracy In Reporting, discusses the overly-kind obituaries of former Israeli Prime Minister Ariel Sharon and the media’s faulty recollection of Fallujah, the lies that started the Iraq War, and Iraqi casualties.

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Michael Ratner, president emeritus of the Center for Constitutional Rights, discusses the mainstream media’s talk of clemency for Edward Snowden, and why Chelsea Manning, Julian Assange, and Jeremy Hammond deserve – but aren’t getting – the same recognition.

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