1. Create a new Story/Page/Blog entry or edit an existing item
2. Disable rich text
3. Copy the Embed code for the video from Youtube
4. Paste the Embed code where you would like the video to appear in the post. e.g.:

I'm running a little test of video feeds from YouTube. Please take some time to watch a few videos and let me know your thoughts.

These videos are auto-magically selected by Google based upon the contents of this website and the keywords US presidential election 2008 democratic candidates: