Central banks and public sector funds in diversification drive

This is tragically humorous on several levels, but the most egregious pronouncement is central banks, the bastion of conservative practices, have practically admitted they have goosed stock markets by buying up $29 trillion in assets, including equities.  They then, benignly paint these hedge fund-like risks as "diversification."  In reality, they are taking on humongous market risks.  I have posted many times that the Fed is the biggest hedge fund in the world, with perhaps the most over-leveraged balance sheet.

The public and Wall Street bankers can blame each other for manipulating markets, but at the end of the day, they are all merely agents of the ultimate manipulators--the central banks themselves.

You don't need a PhD in Economics from Princeton to know this will end badly.

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