There are Brian Sack fingerprints all over this, not unlike daily S&P 500 futures.
Long live Mark Pittman, champion of Fed transparency.
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From the St. Louis Fed website:
- The St. Louis Fed is sponsoring a YouTube video contest. We want your original video, illustrating the importance of an independent central bank. And not just the independence of the Federal Reserve, but central banks in general. What makes independence for a nation's central bank important? Why should they steer clear of politics? How does independence affect inflation and economic activity? Let us know through your video creation!
Here is the propaganda video advertising the propaganda video contest:
- Prizes will be awarded to the top four videos:
* First place: $1,000 U.S. Savings Bond
* Second place: $750 U.S. Savings Bond
* Third place: $500 U.S. Savings Bond
* People's Choice: $250 U.S. Savings Bond
In response to this blatant propaganda effort, the good folks at Economic Policy Journal are sponsoring their own, parallel End The Fed video contest. And the prize for the winner?
- The St Louis Fed awards a series of prizes, the first one being a $1,000 face value U.S. Savings bond, that will be worth when you receive it only $500 and won't be redeemable at $1,000 for 17 years (Good luck inflation wise with that)
- Our award only goes to the top prize winner, but it will be a one ounce gold coin (currently worth approx. $1400). You will be able to sell it immediately for its full value, if you choose, or hold as it protects you against Fed created inflation.
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Here's how one 19th-century "YouTuber" depicted Andrew Jackson slaying that "Many-Headed Monster," the Second Central Bank of the United States.
