A snippet- "Mr Volcker actually said, "I don't get it", which is a Big Fat Lie (BFL), because he understands it perfectly, but he is just so polite and so politic that he finds it hard to say, as I would have so succinctly put it, "How in the hell can you talk about purposely creating at least 2% inflation in prices and then talk about the Fed's duty to pursue price stability at the same freaking time, which gives rise to the expression 'talking out of both sides of your mouth at the same time', and also gives rise to an occasion for me to call you a lying halfwit economic ignoramus who thinks that everybody else is so stupid that you can say such utter preposterous crap like this to me and think I am going to swallow it!" "
Good read.
