The Federal Reserve Bank of Kansas City hosts more than 100 central bankers, policymakers, academics, and economists from around the world to debate whether what they do is alchemy or science and to discuss topics and publish reports in a language incomprehensible to the average bear. Held annually since 1978, the symposium focuses on important economic issues that face the U.S. and the rest of the world and is watched closely by investors and major market players. You can learn more @ http://www.kc.frb.org/publications/research/escp/archive.cfm Economics is a planet in a galaxy far, far away, but I wandered around this site in an attempt to educate myself. I always find attendance rosters interesting, but wading through some of the articles presented here is difficult for a layman like myself. Glazing of the eyes is expected, but if you start to notice any trickling of blood from your ears, eyes, or nose, remove yourself from this site immediately.
I guess some in the financial world got excited because they felt Bernanke hinted at a third round of Quantitative Easing. The Fed has already pumped over 2 trillion dollars into the system by buying bonds over the past 4 years and claims that this has helped create nearly 2 million jobs. Hmmm... maybe so, but the first thought that comes to mind is "don't p*ss on my leg and tell me it's rain". In my limited knowledge, buying bonds means more debt with interest owed to the PRIVATE Federal Reserve which ultimately becomes the financial burden of the American taxpayer. I know I'm being belligerently antagonistic when I know basically next to nothing about economics, but just look up the likes of Ben Bernanke, Timothy Geithner, Henry Paulson, and Stanley Fischer on wikipedia for starters and compare some of their connections and histories. It strikes me as one big banking circle-jerk encompassing Treasury officials, the Federal Reserve Bank, and other private 'too big to fail' financial institutions, not to mention the World Bank and the IMF if you mant to take it a few steps further. And I equate keynesian economics with a three-card monte scam. I know I'm getting screwed, but I just can't put my finger on exactly how my being screwed-over is actually being accomplished. However, I do feel certain that the Federal Reserve has been granted more power and authority than was previously intended. For a more eloquent example of this idea and concern, please google James Grant's Washington Post article "Ben Bernanke Should Return the Fed to its Golden Roots". And if the whole concept of a powerful banking cabal in this country seems preposterous to you, please look up "money trust investigation" @ publicintelligence.net