Mr. Friedman and Mr. Keynes

Nice analogy for central bank activity and the control over the economy
PIMCO Bonds - FF May 2006: "Technically, this link is called Velocity, the rate of turnover of the stock of money. Non-technically, think of Velocity as the pace of beer drinking at a fraternity party. If the pace is stable, or at least predictable, the barkeep could target the final goal of moderate buzzdom at the end of the party by simply supplying kegs at a constant rate, or a pace-adjusted predictable rate, and let the market figure out the price at which to ration the beer. In this case, you could call the barkeep Milton Friedman."