The Kansas City Federal Reserve Bank annual symposium at Jackson Hole, Wyoming, is a ritual in which central bankers from major economies all over the world, backed by their supporting cast of court jesters masquerading as monetary economists, privately rationalize their unmerited yet enormous power over the fate of the global economy by publicly confessing that while their collective knowledge is grossly inadequate for the daunting challenge of the task entrusted to them, their faith-based dogma nevertheless should remain above question. That dogma is based on a single-dimensional theology that sound money is the sine qua nonof economic well-being. It is a peculiar ideology given that central banking as an institution derives its raison d'etre from the rejection of a rigid gold standard in favor of monetary elasticity.