The concept of the Fed as a destructive con-job has apparently hit even the mainstream media (in the form of MSNBC).  Very good.  This is a pretty good description of exactly where our financial problems came from.

Keep in mind, of course, that by ‘con job’ I am referring only the fact that the system rips off the American–not, of course, that there is some sort of eeevilll cabal snickering and holding the government at knife point.  This cogent explanation of the problem does a great job of showing how the American people lose and a banking cartel wins through the easy money created by the Fed.  It also does a pretty good job of showing how this causes collapse, although it does not address the Austrian Theory of the Trade Cycle, which explains how inflationary boom-bust cycles (we just saw a recent example in this latest financial crisis) inevitably form as a result of cheap-credit inflationary policies.

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