This is a short article written by James Carner, from Jun 9, 2020.
I wanted to share this short article with you that was written by James Carner back in June of 2020 because it's relevant to what we're seeing today.
[written by James Carner]
"In March, Yahoo was the first to report about the merging of the Federal Reserve and The US Treasury. “The Treasury, not the Fed, is buying all these securities and backstopping of loans; the Fed is acting as banker and providing financing. The Fed hired BlackRock Inc. to purchase these securities and handle the administration of the SPVs on behalf of the owner, the Treasury.”
“In other words, the federal government is nationalizing large swaths of the financial markets. The Fed is providing the money to do it. BlackRock will be doing the trades. This scheme essentially merges the Fed and Treasury into one organization. So, meet your new Fed chairman, Donald J. Trump.”
Does this mean that Trump has taken the power of the Federal Reserve bank away from the aristocrat bankers that have profited off of America’s debt since 1913?
“The U.S. Federal Reserve, under close scrutiny from president Donald Trump, has made the historic move to pump a staggering $6 trillion of liquidity into the economy since the coronavirus pandemic began” according to Forbes. “What we’re witnessing here is nothing less than the death of capitalism and birth of something new,” said Mati Greenspan, the founder of analysis and advisory firm Quantum Economics (hint hint). “It’s quite fascinating, really.”
The death of capitalism? What’s so fascinating about that? Let’s dig deeper. Wallstreet Parade says, “According to the U.S. Treasury, as of February 29, 2020, there was $16.9 trillion in marketable U.S. Treasury securities outstanding. Of that amount, at the end of February, the Federal Reserve held $2.47 trillion or 14.6 percent – making it, by far, the largest single holder of U.S. Treasuries anywhere in the world.”
“By this past Friday, the Fed’s ownership of the Treasury market had increased to $3.12 trillion. It had grown by an unprecedented $650 billion in one month’s time. And on March 23, the Fed announced that it would buy unlimited amounts of both Treasury securities and agency mortgage-backed securities “to support smooth market functioning.” According to Counterpunch