OK, if what you said is true (I need to find some other proof before I believe that is true), those interest income is indeed going to the Fed, not the US gov., then those 30 some board members of the Fed should ALL be billionaires. And keep in mind, the Fed is a private organization, and it is NOT public owned! And the interest income on those hundreds of billions of repos are really adding up!
If what you said is true, this system is beyond ridiculous. Those couple of dozens of board members, no one knows how did they end up there, are the sole beneficiaries of this biggest financial market manipulation. Amazing, beyond my comprehension. This is the ONLY thing I can say.
Other countries are different, most of other CBs indeed belong to the Gov. and by extension, their PEOPLE! Even the Bank of England still owned by the British gov., if I understand right.
>>Most people on SI have no understanding of what the Fed does with all their talk about the PPT etc.<<
Maybe they don't, but maybe they do. Although no one can really prove the existence of the PPT, NO one can prove they do not exist either. There are so many obvious manipulation on hundreds of Billions in this stock market can only be explained by the existence of the PPT, or the similar organization. |
