So far, U.S. Federal Reserve policy has done nothing to help the economy. To the contrary, it's actually been quite destructive.
Yet Federal Reserve Chairman Ben S. Bernanke and his cohorts will likely expand upon their ineffective policies next week by announcing a new "Operation Twist."
That begs the question: Why?
If ultra-low rates and quantitative easing haven't put a dent in unemployment or spurred economic growth, then why expand on those programs?
The answer: Because the Fed doesn't work for the American public - it works for Wall Street .
That's right. It's not the economy the Fed has on life support - it's the banks.
America's banks are facing huge litigation costs. Worse, they've grown entirely dependent on the Fed's easy-money policy.
So the Fed is going to bail them out - again.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
I hate to be the one to state the obvious but the Federal Reserve Bankers (who's identity has always been a closely guarded secret) ARE the major stock holders of these so-called American Banks. Come on readers . . . use your head. They bail out themselves!
The Fed is a PRIVATE and FOR-PROFIT secret banking cartel who mainly descend from the European Dynasties of Kings. They are Rothschilds.
British high level Freemasons.
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