The Ugly Truth about the Federal Reserve

Published on
July 11th, 2019
30 minutes

The Ugly Truth about the Federal Reserve

Investment Ideas ·
Featuring Danielle DiMartino Booth

Published on: July 11th, 2019 • Duration: 30 minutes

Danielle DiMartino Booth, chief strategist at Quill Intelligence, sits down with Ed Harrison to discuss markets and central banks. DiMartino Booth believes we are likely on the cusp of a recession, and that this is going to drive investors to seek liquidity, safe havens, and stores of value. A former Fed insider, DiMartino Booth also has some pointed comments about the way the Fed is conducting monetary policy. Filmed on July 8, 2019 in New York.



  • KD
    Kaj D.
    22 July 2019 @ 14:24
    Excellent interview, thx Danielle & Ed
  • JA
    Johan A.
    21 July 2019 @ 15:30
  • SS
    Steve S.
    17 July 2019 @ 22:03
    Hi Ed, I was looking for a chart from 1929 and found it in an article by Edward Harrison. Checked the bio, and sure enough, it was you. Six languages! Wow. Please keep doing your interviews in English. LOL
  • CC
    Cornelius C.
    16 July 2019 @ 14:15
    Not sure if anyone else is having these issues but the videos buffer too slowly for me to watch them at 3x speed
  • JA
    James A.
    16 July 2019 @ 02:47
    DDM - Sharp shooter and to the point l EH - Arguably RVs best interviewer now FORMAT - Personally I prefer these 30m slots, easier to watch when commuting/ when getting home especially for us who don't sit at the screens full time.
  • RT
    Rodrigo T.
    15 July 2019 @ 23:22
    I´m loving all these contents !! Great interview.
  • WS
    William S.
    12 July 2019 @ 03:20
    wonder how much of her show is regurge of other macro houses..hedgeye??
    • mb
      michael b.
      14 July 2019 @ 19:46
      Agreement ≠ regurgitation
    • CH
      Charles H.
      15 July 2019 @ 20:55
      Given her experience with the Fed, I doubt that her views are subsidiary. She is an expert. Why would you think otherwise? A consensus is not the same as plagiarism, and the suggestion is unworthy.
  • CH
    Charles H.
    15 July 2019 @ 20:51
    Great interview, thank you. Both Danielle and Ed always make for a great discussion. I would’ve like to hear Danielle’s views on the interaction between the growing US federal deficit, the secular departure of foreign sovereign purchasers from the UST market, and the Fed’s role as buyer of last resort. What does that mean for QE and the US dollar? Thanks for great content.
  • KR
    Kenneth R.
    13 July 2019 @ 18:07
    Love this interview, especially now that RV serves Moscow Mules.
    • DT
      Dave T.
      15 July 2019 @ 01:47
      Hell yeah! Was it filmed in the morning?
  • SB
    Stewart B.
    14 July 2019 @ 19:36
    Brilliant interview. I could do without the ad at the end. It is really cheapening the RealVision brand. Charge more if you need, but quit the spam.
  • JB
    Jon B.
    14 July 2019 @ 13:52
    help me understand. if we only look at physicals - cars, houses, consumer items as fundamentals, what about services? Could the downward trend in physicals be explained by an upward trend in services?
  • RA
    Robert A.
    14 July 2019 @ 00:02
    Ed and Danielle already have 625 thumbs up!....and quite deserved IMO. Vintage RV work here—the heart of the watermelon.
  • SU
    Shakeel U.
    13 July 2019 @ 16:21
    Excellent 😀
  • CL
    Chris L.
    12 July 2019 @ 00:58
    Talk about milking the same thing over...and...over....and...over....and....over
    • MS
      Michael S.
      12 July 2019 @ 13:32
      “Fed Up with the Federal Reserve” stories? Lol. But there are so many people on RV who are one-trick ponies, and most interesting part is that many of these one-trick ponies have been “wrong” for decades with their takes. Just so long as they are “alternative views”, that qualifies them?
    • CL
      Chris L.
      13 July 2019 @ 15:38
      It's not that I think she's wrong. I agree on nearly everything. But it's like watching a James Rickards interview. Literally the same interview over the course of years.
  • AB
    Anne-Marie B.
    13 July 2019 @ 10:23
    I love her enthusiasm for her work.... total fan!!
  • SS
    Shanthi S.
    13 July 2019 @ 08:24
    So good!!!
  • KA
    Kevin A.
    13 July 2019 @ 05:13
    Good interview. On the ETF redemption issue, the regulators, big fund companies and dealers won’t do a damn thing about it until after there is a crisis. The management of big fund companies should be held responsible for pushing this poorly structured investment product on the investing public. The same could be said for open-ended mutual funds that are investing in illiquid credit. I don’t understand why closed-end funds are not more popular as they avoid a lot of these liquidity problems.
  • PH
    Pompeu H.
    13 July 2019 @ 01:03
    This is true content. Very good interview.
  • RD
    RP D.
    11 July 2019 @ 22:29
    'That leads the question of what would be next for the Fed? Do they go the way of Switzerland? Do they go the way Japan? Do they start buying up all kinds of things? And I think that that's what the stock market hopes.' Well put Danielle. Thank you Ed and RV. Great piece.
    • WM
      Will M.
      12 July 2019 @ 18:30
      It feels like there is truly no way out of the financial mess, but one thing we can be sure of is that in order to prevent a severe recession THEY WILL PRINT THE MONEY
  • AL
    Aaron L.
    12 July 2019 @ 09:49
    This lady is one hell of a smart cookie
  • BM
    Beth M.
    11 July 2019 @ 19:40
    Danielle and Ed are superb! (as usual) And the content discussed is what everyone needs to hear...and that's one of the reasons why I'm subscriber. Well done...and anyone know a reliable source where I can buy physical gold? That would be helpful. TIA
    • SS
      Sir S.
      11 July 2019 @ 19:42
      SchiffGold have competitive pricing and fast delivery and offer storage.
    • GH
      Garrett H.
      11 July 2019 @ 20:50
      Lowest prices on SDBullion, haven't had any problems with shipping.
    • NI
      Nate I.
      12 July 2019 @ 04:02
      Just shop around for the lowest markup. If you buy Maples, Eagles, Krugerrands, etc it's not hard to spot a fake. Pricing is a moving target, but and are usually competitive. I have to respectfully disagree with Sir S. I deeply admire Peter Schiff. He and his late father are both great Americans, but his gold prices were higher than the sources I mentioned as well as others. I wish Peter would cut his markups because I would rather buy from him all things equal.
    • PN
      PJ N.
      12 July 2019 @ 09:18
      I used Tocqueville Bullion Reserve. It's founder is Simon Mikhailovich ( a regular contributor to RV) and one of THE gold experts. He was recommended by Grants, which says a lot - but what impressed me the most, was the amount of time he took to personally address all my queries.
  • WS
    William S.
    12 July 2019 @ 03:36
    decouple - so gold goes up or down vs dollar...really the laughing curve
  • DY
    Damian Y.
    12 July 2019 @ 03:28
    Thanks for getting Danielle on. I always love to hear what she has to say. It would be great to have Dr Lacy Hunt back on again as he's another person that has a lot of common sense.
  • WS
    William S.
    12 July 2019 @ 03:17
    Does D even know PE Powell?
  • WS
    William S.
    12 July 2019 @ 03:07
    D is always...entertaining, but not always...long on substance
  • tc
    thomas c.
    12 July 2019 @ 00:00
    DDB makes it so easy to understand and Ed always asks the right questions. Is this the same Ed Harrison of creditmeltdown blog i read about 10 years ago? I learned a lot from that one.
  • WW
    William W.
    11 July 2019 @ 23:55
    A breath of fresh air, common sense and logic! Great interview, Danielle and Ed!
  • DL
    David L.
    11 July 2019 @ 12:36
    Always enjoy hearing DDB's clearly stated views.
    • tr
      tom r.
      11 July 2019 @ 21:57
      A very smart lady I always listen to. Thx
  • SS
    Sir S.
    11 July 2019 @ 19:45
    Superb interview, packed with insights, very useful stats and delivered in a no BS, comprehensible style. Goes a long waybto proving the point that true mastery shows itself in simple unadorned jargon-free language.
  • LP
    Lynn P.
    11 July 2019 @ 18:57
    Past time to get Perry Mehrling on for an interview. "Global dollar shortage", "finance taking place in the shadows" . . . Mehrling is an expert (and more understandable than Jeff Snider, who is also on top of these topics. Mehrling and Snider together . . . that would be the Dream Team.
    • SL
      Scott L.
      11 July 2019 @ 19:26
      Never heard of this bloke but I love Snider, thanks!
  • HS
    Henry S.
    11 July 2019 @ 18:33
    Clear, informative and concise. Great work on this interview guys. Really enjoyed it.
  • KC
    Kenneth C.
    11 July 2019 @ 18:11
    Ed I remember you when you were a guest on RT. Impressed with you then and now you are truly one of the best programs here at RV. Concise, to the point, and your follow up questions and comments serve to take the conversation further rather than compliment the interviewee. Great job. And Danielle, always fantastic.
  • SB
    Stephen B.
    11 July 2019 @ 17:29
    First class guest and first class interviewer. Brilliant.
  • DS
    David S.
    11 July 2019 @ 17:15
    Good interview. I find Ms. DiMartino Booth more compelling in the interview format with Mr. Harrison. The Fed's employment mandate should be removed as all CBs have their hands more than full just trying to "handle" monetary policy. Congress and administrations, however, are always looking for a scapegoat. I do not think that they will eliminate the dual mandate. DLS
  • TM
    Todd M.
    11 July 2019 @ 13:45
    With no slight intended to the A+ interviewers on your team, Ed just rocks - he is exceptionally deft handling issues and guests. bravo!
    • EH
      Edward H. | Real Vision
      11 July 2019 @ 15:03
      Appreciate that immensely Todd. Thank you
  • AR
    Anthony R.
    11 July 2019 @ 14:17
    Good to hear discussions in plain english.
    • EH
      Edward H. | Real Vision
      11 July 2019 @ 15:03
      Ed Harrison here. Anthony, that's EXACTLY what I think. I wrote on Twitter: "with @DiMartinoBooth you never get jargon. She always speaks in plain English. That makes her explanations understandable for everyone. All of the film crew told me after the interview how much of a pleasure it was to listen to her." I love it too.
  • BA
    Bruce A.
    11 July 2019 @ 14:42
    Good stuff, thanks RV. Best source for macro insights, bar none.
  • MA
    Muhammad A.
    11 July 2019 @ 14:18
    Thanks for being so clear and concise. Danielle’s ability to explain complex concepts in plain English is refreshing to hear.