Thursday, June 2, 2011

Taleb: The Fed Will End

Nassim Nicholas Taleb, author of Black Swan, at a speech in Moscow today said the Federal Reserve will not exist in 25 years.

In his book, Taleb  examines the influence of highly improbable and unpredictable events, i.e. black swans, that have massive impact.

Highly improbable and unpredictable events, I wonder what he means?


  1. Highly improbable and unpredictable

  2. Mr Taleb is clearly out of touch with reality. If the Fed lasts even 2 years, I will eat my hat, his hat and his freaking swan...

  3. I just hope that by the time we get a currency crisis enough people will know who was truly at fault.

    I recently watched clips of Phil Donahue interviewing Milton Friedman 30 years ago. The questions from the audience members implied that the government officially blamed the American public for hyperinflation.

    If they can pin 2008 on "deregulation", they'll have a good chance of pinning a crack-up boom on a similar red herring. I hope it doesn't work.