Prof Steve Hanke: How The US Federal Reserve Made Inequality EXPLODE With Inflation

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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 UK’s and Europe’s drive to remilitarise and why it is doomed to bankrupt the already troubled European economies, the concept of waiting as a factor of production, the relationship between the money supply and the interest rate, why Trump’s tariffs won’t cause inflation to spike due to the decrease in the money supply, the overall weak strength 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, BRICS’ rhetoric on a plan for a gold-backed common currency but no action to make it happen, and much more.