Here is an excerpt from an excellent free newsletter "Things that make you go Hmm" If you google it you should get a link for free subscription

I will leave the final word to a gentleman
whom, regular readers will know, I count
amongst the very finest of observers; someone
who, for many years has demonstrated an unsurpassed
ability when it comes to explaining, in
the most concise way possible, the absurdities of
the current situation and who has featured regularly
in these pages—Bill Fleckenstein.
Just this week, Bill wrote the following passage
for his paid subscribers which he very kindly
gave me permission to reproduce here:
(Readers wishing to have regular access to Bill’s
wisdom can click here to subscribe. I cannot recommend
his work highly enough)
Even though I have been saying virtually the
same thing for 20 years, it still boggles my
mind that the people running the Fed can be
so amazingly and demonstratively incompetent,
yet they are entrusted with unequalled
power to change the course of history and
people’s futures based on their pet theories
(and bolstered by ego-boosting reinforcement
from the applause meter). Although
Bernanke is not the egomaniac that Greenspan
was, he has done no less damage. On the
other hand, had Greenspan not done what
he did, Bernanke probably wouldn’t have followed
the course that he has.
When I wrote my book, “Greenspan’s Bubbles,”
in 2008, I figured that in a few years
(and certainly by now) the whole world
would have seen what a catastrophe Greenspan
and the Fed were, and the tremendous
negative influence they have had on the
country. But here we are four years, trillions
of dollars’ worth of damage, and millions of
ruined lives later, and people are still unable
to see the obvious. It is just incredible that
something this evident continues to be unrecognized
by so many people the world over.

(Amen to that !)