Finally, and most importantly from the perspective of the SEC, if these trades were based on Fed officials’ knowledge of non-public, market moving information, they may have represented potentially illegal activity. It's not clear why Mr. Powell did not take steps to prevent these activities. He has failed as a leader.”
Senator Elizabeth Warren, 5 October 2021
“Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it's not the armed robbers or drug dealers who cause the most economic harm, it's the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most.”
Harry Markopolos
"It is your delusion and lying words. Do you not see that this house of yours, which you mark with my name, has become a den of thieves?"
Jeremiah 7:5-7
Stocks managed to rebound today, purportedly on a deal on the budget and debt limit in Washington.
More likely it was just the big insiders and powers that be shoving stocks around the plate.
Gold and silver gave up some of their recent gains.
The Dollar DX index managed to rally up a bit, but could not regain the 94 handle.
Powell has shown himself to be a failed leader of the Fed. That he is in little different than some (many) of his predecessors is no excuse.
The Fed is highly corruptible, by design of the Banks.
The recent flood of advertising in favor of the status quo of US drug prices higher than the rest of the world (for our own good) is so over the top that it is hard to believe than anyone could buy it.
But they do. And a whole lot more.
And that is why we can't have nice things.
Non-Farm Payrolls on Friday.
Have a pleasant evening.
