Former Federal Reserve President Makes Shocking Confession on TV

Tuesday, January 12, 2016
By Paul Martin

BY VOICE OF REASON
THELASTGREATSTAND.COM
TUESDAY, JANUARY 12TH, 2016

Former Federal Reserve President, Richard Fisher, was a guest on CNBC last week and during an interview, he made some absolutely shocking remarks. While everyone kept talking about how the crash in China was causing the U.S. markets to crash, Mr. Fisher said that was nonsense, and it was the Fed that is the cause for the state of U.S. stock markets. You may recall, just last week Peter Schiff said that Due to the Feds Antics, the Market is Very Dangerous Now, and now the former Fed President has confirmed as much. More specifically, shockingly, Richard Fisher said:

“It is not China,” it is The Fed that is at fault: “What The Fed did, and I was part of it, was front-loaded an enormous rally market rally in order to create a wealth effect… and an uncomfortable digestive period is likely now.” Simply put he concludes, there can’t be much more accommodation, “The Fed is a giant weapon that has no ammunition left.”

Fisher appears to be undertaking a major “cover-your-ass” episode, proclaiming that he was against QE3 which is what has forced “valuations to be very richly priced.” The former Federal Reserve President then goes on to say:

“In my tenure at The Fed, every market participant was demanding we do more… It was The Fed, The Fed, The Fed… and in my opinion, people got lazy… Everyone was looking for the Fed to float all boars… Now we go back to fundamental analysis, the kind of work that USED to be done, analyzing which companies are going to grow their bottom line on their OWN, increase their shareholders value, and be priced accordingly… and as [The Fed] tide recedes we are going to see who is wearing a bathing suit and who is not…”

JUST HOW BAD ARE MARKET CONDITIONS GOING TO GET?

The Rest…HERE

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