🗞️How the Federal Reserve Built a Housing Market of Cards and Destroyed the American Dream to Enrich Wall Street
FED had no clear authority for $2.7TN in illicit residential MBS purchases and refuses to stop despite record inflation and unaffordability
occupythefed.substack.com/p/how-the-fede…
Honored and humbled by @RudyHavenstein, OG central bank critic extraordinaire ...
Twitter's Wall Street shareholders at BlackRock and Vanguard think they snuffed him out for good ... let's prove it backfired and amplify his message a thousandfold on here!
FED expressly stated it would apply a $17.5BN/mo cap on MBS reinvestments starting June 1, which implies a commensurate runoff if FED is buying any MBS at all. Since June 1, FED continued to purchase $10s of billions in MBS. But FED's MBS holdings have only *increased* thru July!
@RudyHavenstein Great updated chart from @NorthmanTrader ... truly damning ... America needs to wake up fast as the FED has unquestionably caused a #housingcrisis and #inflationcrisis with its illicit MBS purchases...
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