*promote

Promoting this video and sending it back into the queue for one more try; last queued Monday, March 16th, 2009 12:08pm PDT - promote requested by my15minutes.

Our entire economy rises or falls with a cough from a single man, who is not screened for being a clueless dolt.

This is not how it's supposed to be.

He might be labeled a lot of things but I don't think "clueless dolt" will be on the list.

Well, you've got to give him credit, he's definitely acting aggressively on what his economic theories tell him to do.

Let's hope the theory is sound.

8:22 is the part that keeps me up at night, he says when the economy "recovers" they'll raise interest rates and decrease the money supply. Does he not know that that will kill any recovery in its tracks? Rising interest rates are what triggered this bust, so he'll wait for the next bubble then pop that one and somehow everything will be fine this time around. Economies can't and shouldn't be managed. Politicians need to find a way to separate themselves from the macro-economy and get rid of the commissars. People need to educate themselves and learn to save money and realize that recessions are a natural part of the business cycle and it's their responsibility to prepare for them not the government. Jon Stewart said it best, "This isn't a fucking game."

The reporter asks "Why are you doing this interview?"

Even though the Fed is a private organization, they are a creature of government and their right to exist is dependent on their ability to quietly fuck the people through inflation. For anyone who has seen the HBO series "The Wire", Bernanke is the Police commissioner and Bush and Obama are the Mayors who ask him to "juke" the stats so they look good for reelection. Makes me sick.

While individual federal reserve banks themselves are privately owned, the federal reserve "system" (The Fed) is not a private organization. Their "right to exist" is provided via legislation which can be changed at any time. The Fed expanding & shrinking the supply of currency etc is part of their responsibility to provide "elasticity" to the economy. When we recover from this crisis we will need to have a reduction in the circulation or you will have inflation. That's what he's saying. And assuming we recover, he's right.

Moving this video to burdturgler's personal queue. It failed to receive enough votes to get sifted up to the front page within 2 days.

*beg

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