The following video was broadcast on MSNBCs Morning Meeting, Friday, July 24, 2009: Federal Set aside is a Ponzi scheme, an inside job Source: RawStory The Federal Set aside — the quasi-autonomous body that controls the USs money supply — is a Ponzi scheme that made bubble after bubble in the US economy and needs to be held blamed for its actions, says Eliot Spitzer, the former governor and attorney-general of New York. In a wide-ranging discussion of the bank bailouts on MSNBCs Morning Meeting, host Dylan Ratigan described the process by which the Federal Set aside exchanged $13.9 trillion of terrible bank debt for cash that it gave to the struggling banks. Spitzer — who built a reputation as the Sheriff of Wall Road for his zealous prosecutions of corporate crime as New Yorks attorney-general and then resigned as the states governor over revelations he had paid for *********** — seemed to agree with Ratigan that the bank bailout amounts to Americas greatest theft and cover-up ever. Advocating in favor of a House bill to check the Federal Set aside, Spitzer said: The Federal Set aside has benefited for decades from the notion that it is quasi-autonomous, its supposed to be independent. Let me tell you a dirty secret: The Fed has done an absolutely disastrous job since [former Fed Chairman] Paul Volcker left. The reality is the Fed has blown it. Time and time again, they blew it. Bubble after bubble, they failed to know what they were doing to the economy. The most …