Wall Street On Parade’s Pam & Russ Martens penned a great piece titled “The Fed Hasn’t Spent a Dime Yet for Main Street Versus $735 Billion for Wall Street”. The show how the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) gave $1.346 trillion to average Americans, but sent $454 billion to the Fed that levers it up by a factor of 10 to 1 to $4.54 trillion. Wait till you see how it breaks down. If you ever wanted to know how the stock market continues to levitate, this is it. Yet, the Fed and friends can’t hold up this ponzi in perpetuity. There will be a day of reckoning and it will come in the form of a dollar collapse. It also just goes to show that every time the government hands out money, even if it is with good intentions, the middle class foot the bill big time. How can you not want to get out of dollar denominated assets?
