The Fed, the Ultimate Commercial Trader
Based on what I see in the CFTC’s Commitment of Traders reports, it appears that the small traders, the ordinary citizens of this country are going to be the ones left holding the bag when Rogoff and Reinhart’s, “Bang Moment” from, This Time it’s Different triggers the fire alarm and the market tumbles. In some ways, this is simply how free markets work. In other ways, this may be the single biggest fraud ever perpetrated on the average U.S. taxpayer.