The Real Housewives of Wall St.
derryb
Posts: 36,793 ✭✭✭✭✭
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Why did you post it here?
bob
Why did you post it here?
Allow me.
From the article, "with an upfront investment of $15 million, they quickly received $220 million in cash from the Fed, most of which they used to purchase student loans and commercial mortgages. The loans were set up so that Christy and Susan would keep 100 percent of any gains on the deals, while the Fed and the Treasury (read: the taxpayer) would eat 90 percent of the losses."
Now, I don't know about anyone else, but the same Fed that doles out this kind of money to unqualified but connected housewives...............is the same Fed that functions as an unofficial branch of government that taxes the rest of us by devaluing the currency so that the politicians can buy off the non-working segments and other special interests with our tax monies -- in order to stay in power, gather resources for their private use, and remain exempt from the same rules and limitations that the rest of us are forced to live by.
I guess you're right that there is no connection to precious metals other than that of the Fed devaluing the dollar which affects virtually everything else, and the fact that the Fed is corrupt in the administration of its policies. Not much connection except to everything.
I knew it would happen.