www.winterwatch.net By Russ Winter
Federal Reserve Chairman Jerome Powell’s net worth is $55 million, and much of his wealth is managed by vampire squid Goldman Sachs — a Wall Street bank that is supervised by the Fed — and BlackRock via its iShares Exchange Traded Funds (ETFs), according to his 2019 financial disclosure. Government-mandated financial disclosures require reporting of investment values within a range, and the upper value of Powell’s holdings with BlackRock is $11.6 million.
Federal Reserve Vice Chair Randall Quarles has, at the top range, $19.6 million in BlackRock iShare investments, according to his July 21, 2019, financial disclosure form.
So it shouldn’t come as a huge surprise that BlackRock was selected by the Fed to manage on behalf of the Fed the unprecedented buying of corporate bonds — ranging in grade from junk to investment — to the tune of approximately $750 billion, according to the most recent Term Sheet from the Fed. As if that’s not corrupt enough, the Fed also allowed BlackRock to buy up its own junk bond ETFs using money from both taxpayers and the Fed…
READ FULL ARTICLE HERE… (winterwatch.net)
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