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For the last several months we have been reporting in detail how the inside mob of the Fed Bankster Bandits know ahead of time what the Federal Reserve is going to do and gamble millions in the equity markets knowing the play beforehand.
And now, two economists at the Federal Reserve, with access to the central bank’s policy deliberations, complied with the board of government rules when they executed dozens of trades just before the central bank’s massive stimulus program in the early days of the outbreak.
The Fed cut its benchmark interest rate to near zero and supplied more than $1 trillion to buy Treasury and mortgage-backed securities at the time. The Fed also pumped an additional $2.3 trillion into the U.S. economy. The massive stimulus was credited for inflating stock prices and preventing a major market crash.
John Stevens and Diana Hancock, the two economists mentioned in The Wall Street Journal report, apparently had some insight on how stocks would move and executed the trades in February and March of 2020. Stevens executed 46 trades on 28 February alone. He executed a total of 566 trades in 2020—earning the title of most active trader among his peers for the year.
Stevens’ spouse Dominique Casimir-Stevens told Reuters after the newspaper published its report: “I had a financial advisor rebalance those investments for me in order to bring them into compliance with the ethics rules. It is that rebalancing that resulted in the large number of transactions that my husband disclosed.”
“I am devastated that my dad’s unexpected death and the actions we took to comply with the rules are now being used to tarnish my husband’s good name and public service.”
Hancock sold over $1 million in her fund on the iShares Edge MSCI USA Quality Factor exchange on 27 February and got back into the same fund about three weeks later, spending between $500,000 and a million for new shares.
The report pointed out that Fed Chairman Jay Powell signaled the following day the plans to cut rates and its preventative measures to prevent a financial crisis. (See “MONEY JUNKIES HOLIDAY,” “THE FED WORLD AND THE REAL WORLD,” “FED WINDING DOWN BOND PURCHASE PROGRAM: JOKERS WILD” and “FED ETHICS? FU!”)
Stevens told the Journal through a Fed spokesman that the transactions were nearly all tied to a spouse’s inheritance and he had nothing to do with the trades. Hancock also pinned the trades on her spouse and said she had no control over the transactions, the paper reported.
Gerald Celente, the publisher of the Trends Journal, has long quoted the late comedian George Carlin who said, “It’s one big club, and you ain’t in it.”
Powell has ordered a review of ethics rules for the central bank after it became known that three Fed officials (including two regional presidents) owned and traded the same type of assets the Fed has been purchasing to stimulate the economy and counter the economic impact of COVID-19. And one of those officials was the chairman himself.
Gregory Mannarino has written extensively in the Trends Journal about the Federal Reserve; see, for example, “PARABOLIC DEBT: THE FED’S ANSWER,” (26 May 2020) “THE FED’S DANGEROUS GAME,” (27 Apr 2021) and “IS INFLATION ‘CONTAINED’?” (27 Jul 2021).
Stevens and Hancock continue to work at the Fed’s research and statistics division.
TREND FORECAST: As we have continually noted, the Fed is nothing more than a Bankster Gang. The Fed is facing a two-pronged crisis of credibility and confidence: investors (and the public) in a real Democracy would be told whether the Fed is operating in an ethical manner, and whether it knows what it is doing.
See “MORE PANDEMIC SHADY TRADES AT THE FEDERAL RESERVE?” (5 Oct 2021) “THE FEDERAL RESERVE MOB: GANGSTERS, INC.,” (11 January 2022) “FEDERAL RESERVE’S CHAIRMAN COMES UNDER SCRUTINY” (6 Oct 2021) and “CRIMINALITY IN HIGH FINANCE: THE BEAT GOES ON,” (9 Nov 2021).
Therefore, considering the ongoing depth and scope of these findings, the members of the Fed will continue to do what they can to reap personal rewards of their national actions.