Economic collapse II

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Why the economic collapse is almost unavoidable II?

Federal Reserve admits it pumped more than $6 trillion to Wall Street in recent six week period ($215 Billion per day), Wall Street on Parade, January 6, 2020.

"I can only say: I'm sorry, America. As a former Federal Reserve official, I was responsible for executing the centrepiece program of the Fed's first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest back-door Wall Street bailout of all time. [...] Despite the Fed's rhetoric, my program wasn't helping to make credit any more accessible for the average American. The banks were only issuing fewer and fewer loans. More insidiously, whatever credit they were extending wasn't getting much cheaper. QE may have been driving down the wholesale cost for banks to make loans, but Wall Street was pocketing most of the extra cash," Andrew Huszar: Confessions of a Quantitative Easer, The Wall Street Journal.

 

"The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal", Warren Buffet on Derivatives, FinTools Software and Consulting.

 

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Continue Economic Collapse third part

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Author: Anawim

I am a social activist. I have two Bachelor's degrees, Maths and Computer & Software Engineering. I also have a Ph.D. in Psychology. I have written nine published books, four scientific articles, and five scientific presentations. I simply want to contribute to making a difference where it counts, so that we make the world a better, more sustainable, prosperous, and fairer place. I am always willing to give free talks and lectures about the social problems that exist in our world today.

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