It is not really part of my theme today, but you should hear this guy (David Zervos) call [ at t=3:30 remaining ] the Federal Reserve's response to the financial crisis of 2008 » "the greatest monetary policy experiment in history."
Dont get me wrong .. he is not saying it in a bad way, or in a critical way. No, sir.
Rather he is like » "More champagne! Way to go, Federal Reserve!"
I only cite his quote because it seems to support my notion of the Federal Reserve wax'ing avant-garde ..
.. like James Joyce and avant-garde artists blazing new trails out there on the bleeding edge ..
.. making it up as they go.
Avant-garde-ists are known for boldly going where no artist has gone before.
This guy [ David Zervos ] plays with real money. [ "Or does he?" I can hear Bethany saying. ] By that I mean » he is not (merely) a theorist.
But I can see now [ thanks to Bethany ] that he is not playing with real money. Nonetheless, you can bet your ass that he believes that money is real.
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