Every once in a while, a humorist or satirist hits the proverbial nail on the head. This is certainly the case with a viral video posted on YouTube titled, “Quantitative Easing Explained.”

This animated video features two cartoon bears discussing the Fed’s recent QE2 bond-buying plan and the motivation behind it. The video is one of the cleverest, most insightful and funniest things that you will ever see. I strongly recommend that you watch this short, six-minute-plus video as soon as you can. (Warning: there is some very mild adult language at the end of the video, so if you are extremely sensitive to this kind of thing, you may not want to watch it.)

I think what makes this video so important is that it skewers the Fed for being right about “nothing” over the years. The unknown authors of the video also point out how bizarre it is that “The Ben Bernak” has “no business experience… no policy experience (and) … has never run in an election.”

The last time I looked, this video had been viewed nearly 1.2 million (yes, million) times. Fox Business Network financial reporter extraordinaire Charles Gasparino even wrote an article for The Daily Beast about this video. In the piece, he says that a spokesman on Mr. Bernanke’s senior staff has seen the video, although that spokesman wouldn’t say whether the chairman also has seen the video.

I think that after you watch this video, you’ll know more about the Fed’s QE2 than you did before. You’ll also likely laugh really hard at both the absurdity of the QE2, and the computerized voice delivery of the two cartoon bears.