"It's An Utter Mess" - Paul Craig Roberts Warns The Biggest Danger To Stocks Is The Dollar

Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system.

“Any of these central banks are really only there for a handful of big banks. That’s all they are concerned with.

All the Federal Reserve has been concerned with for the last decade is the welfare of a handful of mega banks. Of course, the banks are too large. They should have never been allowed to get that large. When you have a bank too big to fail, then your policy has failed.

You’ve allowed too much concentration. Where is anti-trust? Where is the Sherman Act?

Everything that was legislated in the past to prevent the kind of looming catastrophe that is hanging over our heads, this looming catastrophe is produced by central banks. They are perpetuating it because they don’t know how to get out of it.”

More