The fed has handed the nation's entire monetary policy over to private banks. There is simply no other way to describe this. The fed, in bed with these banks have a track record of engorging themselves and pursuing ruinous monetary policy. The fed has said in essence "how much should we inflate?" The banks have a vested interest to simply say "MORE." They are the first in line to get the boodle as it is dished out, and see the "money" before its diluted status shows up downstream. This is monstrous, horrid, crooked, and again in a word TREASONOUS.
From the article: This "means that the Fed has absolutely no confidence in its actions, and, more importantly, no confidence in how its actions will be perceived by the market which is why it is not only telegraphing its decision to the bankers, but is having its decision be dictated by them, an act so unconstitutional it would be seen as treason in any non-Banana republic! This is the last straw confirming that the only ones left trading the market are the Fed and the PDs, passing hot potatoes to each other, and the HFTs, churning the shit out of everything else to pretend someone is still trading."
Eye popping fiscal THIEVERY! If this were any country where you could say such things without the FBI showing up on your door the next day, people would be advocating dragging these people out into the streets to be shot.
A Paralyzed Fed Defers Decision On Monetary Policy To Primary Dealers In An Act That Can Only Be Classified As Treason | zero hedge