John Williams – Fed Lost Control of Financial System
The Fed is pumping out tens of billions of dollars every month, and yet, the economy keeps sinking. What does this tell economist John Williams? “The system is not operating properly. These are stopgap measures, stopgap liquidity that the Fed is putting into the system. If they understood what was going on, they would not be doing that. They wouldn’t have to do it. They have lost control of the system effectively,” says Williams. Williams goes on to say, “It tells you the underlying system is unstable. I can see where the economy is based on the hard numbers even though they do funny things with the numbers. We are seeing a very weak economy here. Again, the Fed tightened and they eased to help the banks, but they did not do much to help the economy. . . . The banks are not as healthy as they appear and as they have been promoted. The Fed may well be on the brink of the type of crisis they had back in 2007.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with economist John Williams, founder of ShadowStats.com.