Newstopia Explains the Reserve Bank

This video is from early 2008, and refers to the Australian Reserve Bank, but…well…watch it and you’ll get the idea.  It’s possibly the clearest – or at least funniest – explanation of our own central banking system I’ve seen in a while, and is particularly relevant in light of the recent, ongoing, and harmful manipulation of our economy, with Fed rate cuts finally reaching zero.  As this New York Times article explains, “the Fed bluntly announced that it would print as much money as necessary to revive the frozen credit markets and fight what is shaping up as the nation’s worst economic downturn since World War II.” [emphasis mine] 

In other words, as Newstopia host Shaun Micallef finds out, “no one uses gold anymore…My god, where’ve you been?”

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