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Nomi Prins: The Progressive Case Against the Fed

misesmedia  ( Original )
NOV 2, 2016

Mises guest this weekend is Nomi Prins, a prolific writer and speaker on the subjects of central banking, financial markets, and Wall Street cronyism.

She is a former managing director at Goldman Sachs and Bear Stearns, but left investment banking to speak out against what she perceives as global financial malfeasance by commercial, investment, and central banks. Nomi is a dedicated progressive who supported Bernie Sanders, but she's also a harsh critic of the Fed and sympathetic to Austrian depictions of malinvestment and artificially-created bubbles.

Nomi and Jeff discuss the role of central banks in creating an unworthy financial elite, the revolving door between the Treasury Department, the Fed, and banks like Goldman Sachs, how the Fed is necessarily and unavoidably political, how central banks historically have financed interventionist wars, and how the Fed could be the great populist issue that further unravels the Left/Right paradigm.