Prof. Steve Hanke: How the US Federal Reserve made inequality explode with inflation

On this episode of Going Underground, we speak to Steve Hanke, co-author of ‘Capital, Interest, and Waiting’ and Professor of Applied Economics at Johns Hopkins University. He discusses the drive by the UK and Europe to remilitarize and why it is doomed to bankrupt already troubled European economies, the concept of waiting as a factor of production, the relationship between the money supply and interest rates, why Trump’s tariffs won’t cause inflation to spike due to the decrease in the money supply, the overall weakness of the US economy, why inflation is a regressive tax on the poor and helps the rich get richer, the biggest contributor to inequality in the US being the Federal Reserve, and BRICS’ rhetoric about a gold-backed common currency but no action to make it happen.

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