US to Inflate Away its Debt: Christopher Whalen
#monetarypolicy #federalreserve #inflation Author and banking analyst Christopher Whalen explains how the U.S. has used inflation to manage debt since the Civil War, why the reserve currency status is both a privilege and a burden, and how the Fed has enabled fiscal excess. From Volcker to Powell, from wartime finance to modern monetary dysfunction—this is a wide-ranging conversation on how America got here and what comes next. Chapters: 00:00 Intro 00:21 Changes since 2008 02:10 US Inflating Its Way out of Debt 04:33 Deflation post WWI 06:27 Reserve Currency Curse 08:43 EU/Japan Don’t Want Reserve Status 09:39 Gold as Reserve Currency 12:05 Federal Reserve Enables Fiscal Profligacy 15:27 Bessent as Fed Chair 18:52 Fed V Fiscal Authorities Links: Inflated: Money, Debt, and the American Dream: https://www.amazon.ca/Inflated-Money-Debt-American-Dream/dp/139428571X/ref=pd_lpo_d_sccl_1/131-7169381-4297051?pd_rd_w=ihA0D&content-id=amzn1.sym.d3f44101-6e04-446e-916c-a6ec5616982b&pf_rd_p=d3f44101-6e04-446e-916c-a6ec5616982b&pf_rd_r=W7P3Z4DVRPFEGD61PZ0G&pd_rd_wg=dzMBZ&pd_rd_r=e98e42f8-5b76-4204-955d-386caeb1cc83&pd_rd_i=139428571X&psc=1 Walmart and Amazon Are Exploring Issuing Their Own Stablecoins: https://www.wsj.com/finance/banking/walmart-amazon-stablecoin-07de2fdd In the Shadow of the Slump: The Depression of 1920-1921: https://econreview.studentorg.berkeley.edu/in-the-shadow-of-the-slump-the-depression-of-1920-1921/ Making cent$ of the U.S. dollar: Understanding the challenges to its global reserve currency status: https://russellinvestments.com/ca/blog/making-sense-of-us-dollar Inflation, consumer prices for the Bolivarian Republic of Venezuela: https://fred.stlouisfed.org/series/FPCPITOTLZGVEN Why America is acting this way on trade: A globotics shock, a failed social policy, and middle-class fury: https://cepr.org/voxeu/columns/why-america-acting-way-trade-globotics-shock-failed-social-policy-and-middle-class The Federal Reserve's "Dual Mandate": The Evolution of an Idea: https://www.richmondfed.org/publications/research/economic_brief/2011/eb_11-12 Gold is now the world’s second-largest reserve asset — but central bank appetite is waning: https://www.cnbc.com/2025/06/11/gold-overtakes-euro-as-second-biggest-global-reserve-asset.html SML – Local Currency Payment System: https://www.bcb.gov.br/en/financialstability/sml_en Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon: https://scholarship.law.columbia.edu/cgi/viewcontent.cgi?article=5111&context=faculty_scholarship Troubles Percolate in the Plumbing of Wall Street: https://www.nytimes.com/2020/03/12/business/economy/wall-street-funding-troubles-fed.html Fed Chair Scott Bessent? The Race to Replace Jay Powell : https://www.bloomberg.com/news/articles/2025-06-11/scott-bessent-kevin-warsh-contenders-to-replace-fed-chair-jerome-powell Michelle W. Bowman: https://www.federalreservehistory.org/people/michelle-w-bowman Trump Calls Fed Chair Powell A ‘Numbskull’ In Latest Attack Over Interest Rate Cuts: https://www.forbes.com/sites/dereksaul/2025/06/12/trump-calls-fed-chair-powell-as-numbskull-in-latest-attack-over-interest-rate-cuts/ Supreme Court signals Trump can’t fire Fed Chair Powell: https://www.politico.com/news/2025/05/22/supreme-court-fed-powell-trump-00366526 Bessent: "Highly likely" tariff deadline will slide for countries in talks: https://www.axios.com/2025/06/11/tariffs-negotiations-deadline-trump-bessent The LDC Debt Crisis: https://www.fdic.gov/bank/historical/history/191_210.pdf Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.
