The biggest stock peddlers of dangerous and useless stock ETFs who just last week were begging for markets to be shut down have just been selected by the Fed to buy up everything that isn't tied down. This is all just pure madness. Some of the ideas coming out of the Fed are nightmarish. Society is crumbling in ways we have never seen before and all people care about is finding any way to continue to justify the value of their near valueless paper. I'd be happy if I could find 1kg of flour in a shop anywhere near me.
Federal Reserve taps BlackRock to manage bond purchases
https://www.ft.com/content/f9c7e4de-6e25-11ea-89df-41bea055720b
"The Fed’s New York branch pointed to the company’s expertise and “robust operational and technological capabilities” on its website. A spokesperson underlined the short-term nature of the engagement as the Fed sets up the new facilities."
Robust alright. They are the biggest stock peddlers who invented the rubbish derivatives that have helped inflate the equity market bubble to astronomical levels. JP Morgan has been the gate keeper of the Fed's balance sheet up until now. Times are so desperate that all the criminal bankers are at the pump bailing the water out of the equivalent of the financial Titanic. Nothing will stop this hunk of iron from sinking, it was never designed to float with a hole this big in its side.Esh
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