Simons Center Director Bob Ulin welcomed the ARNSF members, some of whom also introduced their guests, and then introduced the guest speaker, Christopher Leonard.
In this presentation of the forum, Leonard, a business reporter and author, discussed the Federal Reserve bank, and its extraordinary experiments in money printing over the last decade. Leonard described how in 2010, the Fed began an unprecedented program called “quantitative easing.” In just a few short years he said the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months.
Leonard is a business reporter whose work has appeared in The New York Times, The Wall Street Journal, Fortune, and Bloomberg Businessweek. He is the New York Times bestselling author of The Lords of Easy Money, The Meat Racket and Kochland, which won the J. Anthony Lukas Work-in-Progress Award. Chris was born and raised in Kansas City, and graduated from the University of Missouri School of Journalism.
After the presentation and a question and answer period, Ulin presented Leonard with a new CGSC coffee mug and Simons Center coin in appreciation for his time with the Forum. Ulin closed out the luncheon with a short brief about the schedule for future gatherings of the Forum.
The Arter-Rowland National Security Forum (ARNSF) is led by the CGSC Foundation’s Simons Center and is an exclusive professional information sharing and networking forum for senior executives.
Members of the Forum and their guests meet periodically at guest speaker events in downtown Kansas City. National and regional guest speakers representing all elements of national power (Diplomatic, Informational, Military and Economic) highlight the meetings. The Forum is nonpartisan, but elected government officials may present from time to time.
The Forum is named after Lt. Gen. (Ret.) Robert Arter, Founding Chairman of the CGSC Foundation, and Mr. Landon Rowland, the Foundation’s first major donor who was well-known in Kansas City for his keen interest in national security issues and his leadership in business and philanthropy.
ARNSF events are only open to ARNSF members and their guests. If you are not a member but are interested in joining, contact Bob Ulin at email@example.com or visit the Forum page on the Simons Center website for more information.