Saturday, February 02, 2019
Another poor argument about intervention
Interesting discussion between Irons and Fleckenstein on the subject of central bank INTERVENTION.
Irons is WITH the facts and WITH all valid logic. He says that the Fed always tries to intervene by buying stocks and bonds and other shit, but occasionally their tools are inadequate to prevent a crash.
Fleckenstein is arguing AGAINST the facts and logic.
First, he cites the tired old crap that "no conspiracy can hold up". This is PERFECTLY TOTALLY ABSOLUTELY FALSE. Many secrets have been held tightly for many decades. The Bletchley Park codebreakers, including 10000 temporary civilian workers, NEVER revealed their secrets until 1973 when their former leader officially broke the seal. Outside the government, NDAs work for decades to keep trade secrets.
Second, he claims that the secret action of buying stocks would have been exposed over the years, because politicians love to expose the opposite party. After a change of administration the new idiots would want to bash the old idiots. FALSE because THERE ARE NO PARTIES. All politicians are Wall Street. All politicians want INFINITE DOW AND ZERO TAX. Since 1974 there has been NO MOTIVATION to expose the central bank.
For clarity, Fleckenstein is emphatically NOT in favor of the Fed. He describes its actions and motivations and results ACCURATELY. He's only offbase on the subject of secrecy.
¶ 11:23 PM 
