Pam and Russ Martens: Here are the contracts showing how $4.5 trillion in stimulus was outsourced to Wall Street

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By Pam and Russ Martens
Wall Street on Parade
Thursday, April 16, 2020

Bloomberg News has an article up today with the headline: "The Fed Loves Main Street As Much As Wall Street This Time." The article is accompanied with a graphic of Fed Chair Jerome Powell shooting equal amounts of money at Main Street and Wall Street.

Nothing could be further from the truth.

... Dispatch continues below ...



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Great Bear Expands Shallow High-Grade Gold
at LP Fault Including 42.70 g/t Over 3 Meters


Company Announcement
Thursday, April 9, 2020

VANCOUVER, British Columbia, Canada -- Great Bear Resources Ltd. (TSX-V: GBR) today reported results from its ongoing fully funded $21 million exploration program at its 100-percent owned flagship Dixie Project in the Red Lake district of Ontario.

The company has completed 83 of approximately 300 planned drill holes into the LP Fault target, as part of its 5-kilometer-long by 500-meter-deep grid drill program.

Gold mineralization has been intersected in all the drill holes for which assays have been returned to date. ...

Drill results highlights:

-- New lateral and vertical drill spacing on 25–100 meter centers has confirmed apparent continuity of gold mineralization on multiple drill sections.

-- Drill hole BR-101 intersected multiple shallow mineralized intervals along 110 metres of core length. Assays include 42.70 grams per tonne gold over 3 meters, including 118.00 grams per tonne gold over a half meter, within a broader interval of 4.24 grams per tonne gold over 52.15 meters. ...

... For the remainder of the announcement:

https://greatbearresources.ca/news/great-bear-expands-shallow-high-grade...



Despite the headline, the article, by Peter Coy, offers not a scintilla of evidence to support the premise that Main Street is getting a fair shake from the Fed. What the article does do is adopt the talking points the Fed has used in every press release it has issued on a new funding facility rollout -- that the money will (through some magical and invisible and unexplained hand of the market Gods) make its way to American workers and households.

It's all bunk. Here's what is actually happening.

The stimulus bill (CARES Act) stipulates that the U.S. Treasury will provide $454 billion of the $2.2 trillion total to the Federal Reserve. That $454 billion will be the loss-absorbing capital to leverage the Fed's purchases of toxic debt from Wall Street to a maximum of 10 times or $4.54 trillion.

So already Main Street is behind. Main Street is getting $2.2 trillion minus $454 billion for Wall Street and $46 billion for airlines and "national security" businesses, likely meaning Boeing. That leaves $1.7 trillion versus the $4.54 trillion that will be offered to Wall Street, or $2.84 trillion more heading to bail out Wall Street. ...

... For the remainder of the report:

https://wallstreetonparade.com/2020/04/here-are-the-contracts-showing-ho...

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http://www.gata.org/files/GATA-4-wine-bottles.jpg

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http://www.gata.org/files/FayJWineryVarietals.jpg

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Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651...

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

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