Interview · moment 8 of 28
Obama-Era Wealth Concentration and the Fed's Secret Transcripts
from Steve Bannon Emergency Podcast | The Tim Dillon Show #433 · #433
3 min
Guest
Bannon argues the Obama administration produced history's greatest wealth concentration via Fed balance sheet expansion and zero rates, citing Dallas Fed president Dick Fisher's leaked warnings about crushing the working class.
- Tim argues the Obama administration presided over the greatest wealth concentration in U.S. history despite progressive rhetoric, because money and power tell the real story.
- The Federal Reserve expanded its balance sheet and flooded the zone with liquidity to prop up financial and real assets, enriching those who already owned them.
- Zero interest rates crushed working people with savings accounts while allowing the wealthy to borrow cheaply, creating a system that benefited only the powerful.
- Christopher Leonard's book revealed Fed transcripts showing officials like Dick Fisher openly discussing their plan to eviscerate the working class and destroy the middle class.
- Fed governors knew they were going to destroy the middle class to prop up the bailout, with workers paying for it and getting crushed by zero interest rates.
- Tim predicted a populist reaction was coming after the financial crisis, which manifested first in the Tea Party and later in the Trump MAGA movement.
- Nobody associated with the 2008 collapse who made money and collected fees has been held accountable for it.
Federal ReserveObama administrationfinancial crisisTea PartyChristopher LeonardThe Lords of Easy MoneyDick FisherDonald Trump