The Fed is like the loan guy in that video. The fun times can't continue unless that loan guy (the Fed) gives more money to the ones doing the partying.
Simply put, the Fed is still relevant...for now. I wrote an article in September of 2008 with that title (see quote below from it). They have been relevant simply because they are making the party last longer with QE. This by no means they will be successful as I wrote in 2008.
"The Fed will continue to bailout anyone as long as people still believe they are relevant. At some point, this “belief” will disappear. We all know what will happen next. We won’t like it, but hopefully one is prepared. I think this will only be strike two. In 1929, the stock market crashed but the dollar was still around.
But in 1933, the government needed to confiscate the People’s gold to prevent them from becoming insolvent. Bernanke has praised this action in his past speeches. The last thing our government and the elitist politicians that want to stay elitists want, is for any type of Sound Money or Honest Money system. What will their choices be if push comes to shove? We all know “they” can confiscate any and every “thing.” This will be strike three for the Fed."
I have said in many of my articles that this is like the tortoise (gold) vs. the hare (debt). We all know who wins the race.
Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!