Still promoting the fed

You would think it would be common knowledge now how the fed brings about booms and busts and parasitically destroys the wealth of all who dont understand it. I am reading the complete idiot's guide to market timing and the author does quite a good job of praising the fed, well take a look at this video and see what you think because i definitely don't agree with his praise:

http://mises.org:88/Fed

its quite an old video but nonetheless essential in understanding the hidden system behind financial matters. Of course i dont agree with their conclusions as to the solution, i would rather understand the system so that i can profit from it and then spend on the upliftment and betterment of those who do not understand and profit from it.