A mere two days ago [4] we were enlightened on the glory of the central banking system and the general denigration of sound money and the gold standard [4] as Part 1 of Bernanke's re-education lecture series. Today we are treated to Part 2 - a historical perspective of how the fed has saved the world since World War II. As we watch the stream below, we suspect the word 'inflation' will outpace 'deflation' and 'monetary policy' will dominate 'intervention' or 'picking-winners' as the Chairsatan presents his view of the world-according-to-central-planners.
Some headlines from his speech:
*BERNANKE: MOST EVIDENCE SHOWS FED DIDN'T CAUSE HOUSING BUBBLE