In this episode from Wall Street for Main Street, Jason Burack interviews Bob Coleman from Idaho Armored Vaults … both men give some very interesting insights into the Federal Reserves role in the current banking crisis, and how the precious metals are currently acting more as a “bankruptcy hedge”, as opposed to a “inflation hedge” … some of their keen financial & economic insights from this segment includes …..
* The FED is currently deeply cash flow negative,
* The FED & some large banks do not currently have to adhere to General Accepted Accounting Principles (GAAP) … they’re actually allowed legalized accounting fraud since F.A.S.B. has suspended Mark-to-Market accounting standards, and this lack of accountability on asset valuations is causing huge & dangerous distortions in the markets,
* The FED’s reverse repurchase program is operating as a de-facto government money market fund that’s a form of de-facto QE,
* The FED is indirectly funding the bank runs thru it’s current fiscal policies.
See the original segment here for even more insights …