Are we being lied to?
1) Assume the Federal Reserve managers know everything about money and banking.
2) If the following sentence is correct.
3) Most common citizens, even those who have formally studied economics at prestigious universities -- understand very little about money and banking, except truly basic stuff.
5) The Fed is trying to educate the public about money and banking.
6) The Fed has no interest in educating the public about money and banking -- and is probably trying to deceive the public.
Of course the Fed might not know much about Money and Banking -- in that case, they could not be justly accused of lying -- just ignorance. Alan Greenspan's recent (early 2009) admissions of his errors would seem to support the charge of ignorance. My guess is that he is not a liar.
Important note: If we do not know how the system works -- we, the people, can't fix it.