Big Daddy d Boy Robert Prechter is someone I am often positioned in opposition to, being a precious metals trader and all. Big Daddy d Boy is also someone I learned a lot from, beginning with Conquer the Crash. Big Daddy d Boy explains the Fed here.
This is part 3 of an ongoing segment, but what you should do is sign up for Club EWI if you have not already done so. This is a free, no strings attached service. There will be no spam or contact from EWI. What there will be is a complete eBook by Prechter explaining his views of the Fed, among many other things. It is made up of segments from Conquer the Crash and his monthly newsletter The Elliott Wave Theorist, beginning with 2002's Money, Credit and the Federal Reserve Banking System and ending with December, 2009's The Coming Deflationary Pressure on the Government.
Understanding the Fed - How to protect yourself from the common and misleading myths about the U.S. Federal Reserve
At the bottom of this segment you will find a link to the entire PDF file "Understanding the Fed"
Just download that and get the whole thing. You know that Prechter is ultimately going to be right, at least in large part, when the inflated system becomes so saturated that it simply expires. Obviously, the Federal Reserve and its debt monetization tactics are front and center.
