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Federal Reserve


 
“Central bankers are actually central planners. Like bureaucratic leaders of central-planned or command economies, they pick an interest rate to within two decimal places that they guess will be the correct one, and then they proceed to cram it down the throat of the banking system…the bubbles in US stocks and real estate didn’t just happen. To a degree that the American public has not yet fully realized, these costly distortions were instigated and financed by the Federal Reserve…” – William A. Fleckenstein