Saturday, April 28, 2012

My Fed Speech: The Feedback Continues

Many, many websites have asked permission to reprint my speech. I estimate that given the audience of the web sites that have reposted the speech and those that have come directly to EPJ to read the speech, approximately 500,000 people have read the speech. An author has requested permission to reprint it as a chapter in his upcoming book. Jeff Rowberg has created an audio version. I have benn interviewed on radio shows about the speech. An investment advisory firm has requested permission to print it and send it to all its clients.  And Tyler Durden at Zero Hedge had these kind words to say about it:
In perhaps the most courageous (and likely must-read for future economists) speech ever given inside the New York Fed's shallowed hallowed walls, Economic Policy Journal's Robert Wenzel delivered the truth, the whole truth, and nothing but the truth to the monetary priesthood. Gracious from the start, Wenzel takes the Keynesian clap-trappers to task on almost every nonsensical and oblivious decision they have made in recent years.

"My views, I suspect, differ from beginning to end... I stand here confused as to how you see the world so differently than I do. I simply do not understand most of the thinking that goes on here at the Fed and I do not understand how this thinking can go on when in my view it smacks up against reality."

and further...

"I scratch my head that somehow your conclusions about unemployment are so different than mine and that you call for the printing of money to boost 'demand'. A call, I add, that since the founding of the Federal Reserve has resulted in an increase of the money supply by 12,230%."

But his closing was tremendous:

"Let’s have one good meal here. Let’s make it a feast. Then I ask you, I plead with you, I beg you all, walk out of here with me, never to come back. It’s the moral and ethical thing to do. Nothing good goes on in this place. Let’s lock the doors and leave the building to the spiders, moths and four-legged rats."
Mainstream media has maintained radio silence.

Given the positive response to the speech, aside from MSM radio silence, I am happy to report a hard copy of the speech, along with added material on the Fed re-action to the speech, the back story to the speech, and an additional essay outlining how I track Fed monetary activity, will be published. More details on the booklet on Monday. Here's the cover:


  1. That report card is on fire! Oh no! That would mean the record will be lost. Put it out! Put it out!

  2. It is a speech that people will remember decades from now. It's so good, the last paragraph is poetry.

  3. I look forward to buying that booklet, Bob. Please offer a higher-priced, signed edition, for me to pass on to my children after The Revolution.

  4. I'm guessing it must be Vox Day that wants to publish it in a book but I doubt you can either confirm or deny that.

  5. in this tech world, there should be some kind of recording of that event as it took place??

  6. Great job, Robert. Should be part of a film!

  7. John Galt couldn't have said it better.

  8. I have forwarded your speech on to many. It should be mandatory cllege reading for all.