THE SCAPEGOAT

“If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic. If Americans were asked in the same poll when the financial crisis on Wall Street started, they would tie it to outbreaks of the virus in the U.S. this year.

…the financial crisis on Wall Street began in earnest on September 17, 2019, almost four months before the first death from coronavirus anywhere in the world was reported in China on January 11, 2020 and five months before the first death in the U.S. was reported on February 29, 2020, having occurred one day earlier on February 28.

The reason that it’s critically important for Americans to understand that Wall Street is getting another massive bailout from the Fed for a crisis it started before COVID-19 was on our shores is because the structure of Wall Street, with trading casinos allowed to own our largest commercial banks, is far more deadly to the future of America than COVID-19.

Fed’s emergency repo loans outstanding last year hit a peak of $236.6 billion on December 18, 2019 — $100 billion more than during the worst financial crisis since the Great Depression.”


January 27, 2020: Wall Street On Parade, using the New York Fed’s own Excel spreadsheet data on its repo loans, publishes the finding that the New York Fed has pumped out a cumulative $6.6 trillion in super cheap loans to the trading houses of Wall Street with no explanation as to whether Wall Street banks are experiencing a funding, liquidity or insolvency crisis.

February 29, 2020: CNN reports first coronavirus COVID-19 death in the United States occurred one day earlier.”

Conclusion: The virus did not cause the current crisis, it is the scapegoat and the cover.

Source: Wall Street on Parade: https://lnkd.in/gD3Yk8W

#Finance #WallStreet #FederalReserve #Banking #RepoPurchases #FinancialCrisis #TreasuryNotes #USD #Economy

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