The post Veteran trader accuses the U.S. central bank of ‘crime of the century’ appeared on BitcoinEthereumNews.com.

As recession fears grow and criticism intensifies of how the United States government and its financial authorities are dealing with the looming economic crash, one expert trader has accused the U.S. Federal Reserve of committing a “crime of the century.” Specifically, financial analyst, veteran trader of the capital markets, and author of the Mannarino Market Risk Indicator (MMRI), Gregory Mannarino, voiced these accusations during a conversation with Wall Street Silver’s Ivan Bayoukhi in a YouTube video streamed on August 31. Elements of a Ponzi scheme According to Mannarino, a.k.a. the Robin Hood of Wall Street, the American Central Bank entering a “new phase of money printing, cash creation, currency creation out of thin air” constitutes counterfeiting but also a classic Ponzi scheme: “We are in a full-blown liquidity crisis period, the freaking end. (…) The Fed is involved in a crime, the crime of the century. Not only are they counterfeiting, but it’s a Ponzi scheme of the highest order. We need to bet against that system.” Fighting the Ponzi Indeed, in Mannarino’s opinion, the best way to fight against the pumping of cash “into the stock market via this mechanism of currency devaluation, by the mechanism of suppressed rates,” which “drives cash into the stock market, is by “holding hard assets” like gold and silver: “This is how you bet against the system, (…) you do it by holding hard assets. (…) Gold and silver are constitutional money; we are guaranteed that in the U.S. Constitution. Nowhere is there a mention of a debt-based fiat system, and nowhere is there a mention of a digital system here. We are guaranteed that by law.” Other analysts on Fed’s policies All things considered, Greg Mannarino seems to share the sentiment with other popular names in finance, including Robert Kiyosaki, the author…

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Filed under: News - @ September 4, 2024 10:24 am