David Stockman, former Reagan budget director and bestselling author of “The Great Deformation,” delivered an excellent statement that should have all of us shaking in our boots: “It’s a coup d’etat, the central banks have taken over – unconstitutional domination of the entire economy.”
Stockman made these remarks during an interview with Fox Business Network‘s Neil Cavuto. He explained that the wealth gap, which is the largest it has been since the Reagan years, is not due to capitalism, tax cuts or Wall Street greed, but rather the out of control central banks. With the top 10 percent owning 85 percent of financial assets and the central banks unleashing a tidal wave of money printing “the central banks have created and exaggerated the wealth gap.”
“Everywhere, misleading distorted signals are being given to both public and private sector players about financial values. The prices have been falsified by the Fed,” said Stockman. “We can’t print our way to prosperity. The Fed is now petrified that Wall Street will have a hissy-fit when they tighten.”
The entire interview can be viewed below:
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