We all know that our governmental system is a Republic, not a Democracy. And that is slowly crumbling before our very eyes.
Now America, the cradle of Capitalism, is losing that distinction.
No free markets. Only governmental rule.
CIGA Wolfgang Rech
She states the obvious that only a few see Wolfgang.
Fed Vice Chair Makes “Shocking” Admission: Fed May Never Be Able To Stop Manipulating The Market
October 14, 2020
Yesterday, San Fran Fed president Mary Daly made a stunning admission: just in case there was any confusion, the Fed knows that it has – and continues to blow – an asset bubble making “a few” who own stocks uber-rich, but the economy is now so reliant on the Fed liquidity firehose that the moment the Fed threatened to pop this bubble, which some have estimated to be around $90 trillion in liquidity, would result in economic devastation and leave millions without a job.
“I am not willing to trade millions of jobs for people who need a ladder rung up in order to keep the stock market from going up for a few who have those holdings,” Daly said while answering questions following a speech on – what else – racial inequality at a virtual event Tuesday hosted by the University of California, Irvine.
Well, it appears that the Fed makes dramatic revelations in two, because just one day after Daly admitted that the Fed is trapped, the Fed’s Vice Chair for Supervision Randal Quarles, made an even more shocking – or rather “shocking” as we have said for the past decade that this is the case – admission, when he said that the Treasury market is now so large that the U.S. central bank may have to continue to be involved to keep it functioning properly.