I must have missed this in June, but if it's already been posted, it is still such an important clip that I'll post it again anyway.  This is a clip from the 60 Minutes interview with Ben Bernanke. No one can ever say again that the Fed doesn't print money.

The federal government tirelessly claims Democracy as the foundation of American government.  Wrong!

The Wall Street Journal and Digg worked together to get a decent interview with Treasury Secretary Timothy Geithner on Tuesday, August 25th.  The interviewer is Alan Murray, Deputy Managing Editor of the Wall Street Journal.

Geithner explains the common explanation by advocates of the Federal Reserve why the financial collapse has occurred: 1) A flood of money came into the United States from other countries and encouraged investors to make risky investments in the housing industry, and 2) Leveraging occured outside the allowed scope of government regulation.

I say this not to agree with his arguments, but to reveal what proponents of the Fed offer as their counter arguments.

Also, this video explains the power of online social networks, as Digg questions made by only a few hundred people recived direct answers from the Secretary of the Treasury. Pretty impressive.

We are quite familiar with the idea: internet technology and election campaign organizers have combined to form the one-day money-bomb blitzes designed to garner media attention for political candidates.

2008 presidential candidate, Ron Paul, held the first-ever successful money bomb, receiving a record $4.2 million on November 5th, 2007 and $6 million in December 16th, 2007  - both organized by former non-voter Trevor Lyman, as reported from USA Today. 

Since then, several candidates have taken the idea and used it for their own campaign.  Illinois congressional candidate, Matt Reichel of the Green Party, is shooting for a money bomb on September 30th, according to greenpartywatch.org. 

And Peter Schiff, potential candidate for Senator in Connecticut, raised nearly $350,000 in an August 10th money bomb, according to digitaljournal.com. 

The New American has reported on the most recent money bomb candidate:  Rand Paul, running for Kentucky Senator.  His website, randpaul2010.com, is showcasing progress of the money bomb, and charts displaying the day's progress are recorded at randpaulgraphs.com.

Rand Paul is polling at 26% for the Kentucky senate race, 11 points under Republican Trey Grayson at 37%.  In the media's eyes, Rand's polling is quite notable, as other senator contestants are polling at 1 and 2 percent.

But, as usual, money talks in politics. We've yet to see if, once again, money bombs work. Do they really get media attention? Or is it all in vain?