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While American citizens wait for bureaucrats to pass a new coronavirus relief package, the Federal Reserve has continued to serve corporate interests and the banking cartel. Behind the curtains from the comfort of their own mansions, members of the Fed have given more stimulus to crony Wall Street corporatists than it did in 2008. The U.S. central bank\u2019s monthly rounds of stimulus have effortlessly surpassed the quantitative easing (QE) tactics that followed the United States\u2019 subprime mortgage crisis.<\/b><\/p>\n
Ahead of the presidential election, the Fed is still purchasing $80 billion a month in mortgage-backed securities and $40 billion per month in Treasuries. The net of redemptions outpaces the 2008 bailouts and the QE from 2012 through 2014 as well. <\/span><\/p>\n Meanwhile, while most Americans haven\u2019t even blinked over the central bank\u2019s massive money creation, mainstream media continues to <\/span>dangle talks of a stimulus package<\/span><\/a> for the average citizen.<\/span><\/p>\n On Friday, the Fed dropped the threshold for the Mainstreet Lending program as the bank lowered the threshold for certain businesses. At the same time, the Fed has <\/span>commissioned<\/span><\/a> JPMorgan Chase<\/a> with $2 trillion in bonds, according to data<\/a> collected by the investigative financial journalists\u2019 Pam Martens and Russ Martens. <\/span><\/p>\n \u201cImagine that your neighbor across the street had been criminally charged with five felony counts for financial crimes in the past six years and admitted to committing each and every crime to the U.S. Department of Justice. Would you put one-third of all of your money in a safe, give that neighbor the combination, and ask him to hold the safe in his house for you?\u201d the Martens ask in jest. <\/span><\/p>\n \u201cYou would probably be suited up for a straight jacket if you did something like that,\u201d the Martens insist. \u201cThat\u2019s effectively what the Federal Reserve, the central bank of the United States, has done when it comes to JPMorgan Chase.\u201d<\/span><\/p>\n The financial columnists also published the U.S. Representative for California, Congresswoman Katie Porter\u2019s <\/span>recent letter to Fed Chair Jerome Powell,<\/span><\/a> and the Board of Governors. Porter writes that the Federal Reserve \u201cis using billions of taxpayer dollars to purchase the debt of banks like JPMorgan Chase.\u201d <\/span><\/p>\n Additionally, Porter\u2019s letter highlights a serious conflict of interest between the Fed and the firm Blackrock. Essentially, the letter stresses that the \u201c[Federal Reserve\u2019s] decision to buy corporate debt with taxpayer dollars directly benefited Wall Street and the world\u2019s richest corporate executives.\u201d<\/span><\/p>\n The talks of looming stimulus for the average American citizen has been a revolving farce passed around the headlines mainstream media (MSM) publishes every day. Massive rounds of stimulus are happening with QE-style debt purchases but a carrot is being dangled in the air by the media with these talks of relief packages. One MSM outlet actually <\/span>praised<\/span><\/a> the Fed members this week for working remotely from home. <\/span><\/p>\n \u201cWe are all largely working remotely. Most of the banks and branches have very limited staffing, if any,\u201d Randal Quarles, the Fed\u2019s Vice Chairman detailed during a <\/span>recent webinar discussion<\/span><\/a>. On October 22, Mary Daly the San Francisco Fed President claimed that Federal Reserve employees \u201chaven\u2019t missed a step\u201d this year.<\/span><\/p>\n With well over $9 trillion in stimulus injections, the Fed\u2019s 2020 USD pump eclipsed more than two centuries of the country\u2019s dollar creation. Estimates say, in just a mere eight months in 2020, the U.S. has created 22% of all the USD issued since the birth of the nation. <\/span><\/p>\n Meanwhile, MSM rags continue to claim Americans should be grateful that the Fed has allegedly \u201cprevented a US economic collapse.\u201d Rather, the Fed has managed to create trillions for the revolving door of fascist bankers from the comfort of their own mansions. When it comes to corporate and banker bailouts, the Fed certainly hasn\u2019t missed a step. <\/span><\/p>\n What do you think about the Federal Reserve\u2019s so-called courageous efforts? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n The post Federal Reserve Staff Sluiced Wall Street Bankers With Trillions From the Comfort of Their Mansions<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n![\"\"](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2020\/11\/ddjjjfjjfjjfj.jpg\")
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