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Why the Fed Will Be Dissolved Within Five YearsGraham SummersSeeking Alpha Nov. 01, 2010 |
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 How’s that for a game changer? In case you missed it, the #1 news story for this week (and the year) was the Fed’s decision to ask its Primary Dealers (PDs) for suggestions on how large and how long QE 2 should run. The implications of this are vast. But the biggest ones are: 1) The PDs OWN the Fed (not the other way round) 2) QE 2 is a definite, not a “maybe” 3) The Fed doesn’t know what it’s doing 4) The Fed will be dismantled within five years I’ve long asserted that the US’s money system was in fact controlled by the Big Banks, not the Federal Reserve. The Fed’s decision to ask THEM for suggestions reveals confirms this. It tells us in plain terms WHO decides monetary policy in this country and WHO is responsible for financial markets being where they are. Read More |
