This is the frightening endgame and why the stock market is surging.
November 26 (King World News) – Gregory Mannarino, writing for the Trends Journal: The Fed and US Treasury have put themselves in a position of ENORMOUS power. Here, I want to break it down for you.
Let’s start with this.
The Fed + Treasury alignment is in effect a “nationalization of the markets,” and a controlled demolition of real capitalism/free markets.
1. Lender of last resort + buyer of last resort = no real market.
When the same connection/alliance of power issues the debt (Treasury), funds the system (Fed), AND steps in to buy the debt and backstop everything, you no longer have price discovery, risk premiums, or even default risk.
Therefore you end up with a managed illusion that pretends to be a market.
KEY POINT. Natural buyers of US debt are DELIBERATELY getting pushed away because yields are artificially suppressed, risk is socialized, and upside is front-run by insiders.
So what happens is “the “market” becomes an offshoot of policy, not a reflection of reality…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
2. Yield-curve control = fiscal dominance = silent default.
Currently, this unholy merger between the Fed and Treasury, is managing the entire yield curve, and keeping yields pinned below where free markets would set them.
The result? It offloads inflation onto savers, workers, and retirees as debt balloons even faster. MAKE NO MISTAKE! This is a “quiet” default, instead of openly admitting insolvency…
And as usual The People Pay.
KEY POINT. Fiscal dominance/position of extreme power.
Once you cross that line, there is no way back without a crash and they know it.
So, now the Fed and Treasury hold ALL the cards. With that, politicians become EXTREME puppets, lying about inflation, moving the goalposts, and shifting blame. (It’s a game of HYPER-deception on the public on an epic scale).
3. “Buying it all” = balance-sheet nationalization.
KEY POINT. Every time there’s a crisis, they expand what they’re willing to buy.
That IS the definition of nationalization, but done in a sneaky, backdoor, quiet, deceptive, and incremental way… NOT by decree, but by CRISIS.
We have seen this pattern OVER AND OVER again. Treasuries, MBS, corporate debt, backdoor support for money markets, banks, and more.
All this leads to expanding state + central bank owning and controlling a bigger and bigger slice of all major asset classes.
KEY POINT. Some may call this mechanism socialism, BUT WE ARE DEALING WITH SOMETHING MUCH WORSE HERE.
It’s “nationalization by spreadsheet.”
The result? Market prices float way higher than reality. Volatility becomes suppressed. Real entrepreneurs and true price discovery get smothered.
4. Fake liquidity = real wealth transfer.
It artificially levitates asset prices, and erodes purchasing power for those who live on wages or savings. It’s a terrible machine for the upward redistribution of wealth on an EPIC scale.
Pump Wall Street, Bleed Main Street Dry…. This is the core of what we have been warning about for years! And now, here we are.
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Expect Major Surprises For The Rest Of 2025 & 2026
***To listen to Gerald Celente discuss what surprises to expect for 2025 & 2026 CLICK HERE OR ON THE IMAGE BELOW.
Something Very Strange Is Going On In The Gold Market
***To listen to Alasdair Macleod discuss the highly unusual events occurring in the gold market CLICK HERE OR ON THE IMAGE BELOW.
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