The FRONTLINE documentary says the FederalReserve is all-powerful and misunderstood. Jeff points out that is a contradiction, and begins to develop the thesis that the Fed's 'power' is in this realm of "mysticism" and it comes from: persuasion, psychology; not actual defining, identifying, measuring or mapping money, credit, collateral and its distribution.
FRONTLINE critiques the Fed for showering #BigBanks, #BigBusiness and #WallStreet with easy money, which reached neither the real #economy nor the vast majority of Americans. Yes to the latter, but no-no-no-no to the former. Snider did a 95-minute review of this episode and explain why the Fed is not central to money.
See the Snider rebuttal: https://youtu.be/KCpnsDOC7h0
Hear the Snider rebuttal: https://apple.co/3BEryC6
Watch the FRONTLINE episode: https://youtu.be/9RbL8lTsITY
Read the FRONTLINE transcript: https://to.pbs.org/3zC3HBn