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US Ties Europe For Most Fed Primary Dealers
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
wallstreetexaminer.com / by Lee Adler •
Wells Fargo Securities, LLC has been added to the list of primary dealers, effective April 18, 2016. – NY Fed Press Release
Whoa, that means there are now eight, count em, 8! US based Primary Dealers out of 23 total. That ties Europe for the most Primary Dealers of US Treasuries, who are also the Fed’s only correspondents for Money Printing Operations (aka MPO).
For many years Europe has had the most US Primary Dealers with 8 while the US had only 7. That means that when the Fed was printing money every week, a lot of it was going to Europe.
It also means that the US now has twice as many Fed Primary Dealers as Canada. Can you believe it? TWICE as many as Canada. But wait a minute. Doesn’t the US have TEN times Canada’s population and 9 times the GDP? Doesn’t the US have triple the bank assets of Canada (something wrong with only triple, eh?) Canada has 6 big banks that dominate the Canadian economy. 4 of them are US Primary Dealers corresponding with the Fed. So when Canada’s economy goes belly up, don’t blame Canada.
The post US Ties Europe For Most Fed Primary Dealers appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/04/19/us-ties-europe-for-most-fed-primary-dealers/
