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John Manfreda
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I started investing when I was 18. The first major investments that I made were large cap oil stocks in the year 2000. In 2007 I sold my investments, and than re-entered the market in Feburary of 09. Currently I am investing in precious metals and Energy. I believe were in for a major change in... More
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Wall Street for Main Street
  • David McAlvany- The Dollar Is A Ponzi Scheme  2 comments
    Sep 28, 2013 1:57 AM

    John Manfreda and Jason Burack of Wall Street for Main Street Interview David McAlvany about 5 year anniversary from the financial crisis, the Fed's "No Taper" decision, the Gold Market, and the state of the economy. At the end of the Podcast David praises Wall Street for Main Street for its work, service, and improvement over the last couple of years.

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  • wiesje
    , contributor
    Comments (2713) | Send Message
    thank you for this information


    the FED is actually the one creating the ponzi on the $, the only reason this works is because all major commodities world wide be that soft or hard are quoted and traded in $, as such the FED can continue to ' deflate ' the value of the $ without being accounted for by it's loss in value as to the imports of raw materials to keep US Industry going; where a weak $ actually benefits US INC for exports.


    the Banks in all this are merely a vehicle to keep this system going and preventing a collapse on the domestic US market, so demand keeps on being artificially supported.


    the reason the FED can hold on to this strategy is because ultimately the sponsoring by the FED will reduce and if that can coincide by the most single expensive item for imports in the US and that is I assume OIL, by becoming less dependent on imports and more self sufficient and maybe even an exporter over time, you tip that balance.


    so imo although it's crazy for numbers what is happening with the FED QE and the $ and the Banks, ultimately it will be a narrow escape, be it that the price for all this is the US with a weak $ will have lost it's world dominance to the East in 10 years from now, even Europe as weak as it is will out recover the US, there is a penalty for all this.


    England has been doing this differently but with same result since WO2 and the British Pound has only gone one way and the UK never recovered to what they once were, they have become a financial service industry rather than an Industrial Manufacturing power house they once were.


    if I see that a City , like Detroit ( a once Industrial power place) are going bust, all alarm bells should be ringing, there is a false sense of security being created by the enormous success of US tech companies, but that may not last.


    Wall Street reaped the benefits from QE, but how about the factory workers and farmers in for instance the mid-west are they seeing jobs being created is their standard of living recovering ?
    28 Sep 2013, 04:20 AM Reply Like
  • John Manfreda
    , contributor
    Comments (52) | Send Message
    Author’s reply » The Fed's game plan is to print and lie. They don't want to see the housing and bond market collapse which would happen if they stopped the money printing, but they don't want massive inflation. They figure by using the print and lie tactic, they can keep the banks propped up because they are leveraged to the housing market, and keep the government fully financed, which lets them abide by their real dual mandate, help keep the banks propped up and solvent, and fully finance the government. But they also get to manage perception, which they believe will help keep commodities and inflation in check.
    29 Sep 2013, 11:59 AM Reply Like
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