by Andrew Hoffman, Miles Franklin:
A decade ago, I sat in my office watching the gold Cartel do its thing – and muttered to myself, “each day worse than the last.” It’s hard to believe this “manipulation mantra” has not only “held up” this long, but gone exponential; as in my view, the asset bubbles created by the world’s Central banks don’t hold a candle to the greatest of them all – the market manipulation bubble that enabled TPTB to “kick the can” a few more years at the expense of “99%” of the world’s population.
Since then, “lesser” Central banks – i.e., those not armed with the world’s reserve currency and armies of “financial engineers” – have desperately sought to mimic the “master,” albeit clumsily. To wit, the Bank of Japan is so clueless and hapless, it actually admits to monetizing stocks; whilst the Swiss Bank has utterly immolated itself on a doomed currency peg. Heck, even the mighty ECB – with a Goldman Sachs stooge running it, no less – has too much bureaucracy to be effective; whilst the PBOC, as wealthy as it is, is so purely Communist, it never had a chance. So yes, the U.S. is still the world’s “leader” at something – which sadly, could be better described as a Pied Piper of sorts
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