The Lunatics are in the Central Banks

Al-Jazeera kicks ass, and Max Kaiser in Al-Jazeera kicks banker's ass!
What seemed to be a financial storm starting last year, when the subrprime mess in the US started unwinding, then continuing with the run on the bank of Northern Rock and now has its last chapter with the bailout of Bear Stern by the Federal Reserve (of wich JP Morgan is one of the owners) one has to ask what the hell are they doing? It is indeed taking out a fire throwing in more fire, if one of the principal causes of the credit crisis is low interest rates, lowering them now is only creating an even bigger bubble in the future, its like you have partied hard for two nights, and insted of collapsing in your bed, you want to party more and take another hit of acid, mdma, coke or whatever you like to keep it going, but you know that the comedown is going to be much worse. So it looks like it is just a matter of time until the debt swallows the economy, and I don't have the faintest idea of what that is going to look like.

And now that we are at it, this is possibly the most educative video of all time, very well explained for such a complex issue, I recommend, if it goes too fast, to pause it once in a while to take on all what's being said, the animation is crappy beyond belief, but it is very effective in transmitting the ideas exposed, for a full screen go here.

If you like it, next you can watch the money masters which is much more like a history lesson on how fiat currencies came to be and how the bankers came to have so much power. Great stuff, you will never see a pound note the same way.

"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
Josiah Stamp (1880-1941 director of the bank of England in 1928 and second richest man of England at the time)