Stockman: “That trading room is a weapon of financial mass destruction. That’s the point that people need to understand. The people running the Fed today have no clue of the danger that they are creating through this massive market intervention and manipulation....
“The whole market is not trading on any kind of fundamentals. It’s trading entirely on the word clouds being emitted by the Fed speakers and the cash which is being massively injected into the market each day.
They have totally disabled and corrupted the heart of our financial system. They have turned everyone in the financial markets into Fed-followers and front-runners. It is an extremely foolish and destructive policy, and yet it is now the mainstream view that all of this is for the good. It’s a very crazy time when you really think about where this is leading.”
Stockman issued this warning about gold: “The gold market could explode at any moment. I’m not going to even venture a guess as to when that might happen, but clearly it is the asset of final resort when we reach the point where confidence in this whole Ponzi scheme that’s being run by the central banks finally breaks down. It’s almost a sure thing that as we reach the end of this era of massive central bank expansion and domination that the monetary system will break down, the central banks will become totally discredited, and the markets will be in anarchy and dislocation and gold will soar.”
David A. Stockman: Former Dir. of the US Office of Management and Budget, Economic Policy Maker, Politician, Financier & Acclaimed Author of New York Times best-seller, “The Great Deformation: The Corruption of Capitalism in America.