The following clip is fascinating. Watch Donald Kohn, deputy to the current Chairman of the Federal Reserve, Ben Bernanke, stick dutifully to his script of non-disclosure as novice Congressman Alan Greyson, who, according to his own confession, "didn’t get the memo about which questions not to ask" presses him on what, exactly, happened to the two trillion dollars of U.S. Taxpayer money the Fed’s been tasked with manufacturing out of thin air and handling since last September (and note, this is in addition to the 700 billion dollar treasury bail-out):
In case two trillion dollars doesn’t mean a lot to you – here’s an equation to help put this into perspective: If you were to spend one million dollars, every day, from today onwards, for the next 5,500 years, you’d have spent just a little over two trillion dollars….
No wonder these people are getting upset:
For more background details, be sure to check out Money As Debt, and The Crash Course, and follow up with Thomas’ excellent ‘Money Literacy‘ series, where we seek to find an economic model that works for people and place.
If you have ideas on economic alternatives you believe could foster a permanent culture, send them as explanatory articles to editor (at) permaculturenews.org for publishing.