gary dorsch....the Fed has essentially become the fourth branch of the US-government http://news.goldseek.com/GoldSeek/1346356800.php
The Federal Reserve has stepped into the breach, trying to bridge the divide between a deeply polarized US-government that’s paralyzed on fiscal policy and a fragile US-economy, that’s teetering on the brink of a “double-dip” recession. In doing so, the Fed has essentially become the fourth branch of the US-government, and its interfering with the natural workings of the financial markets. Under the guise of the President’s Working Group on the Financial Markets, (aka the “Plunge Protection Team”), the Fed has adopted the most intrusive and interventionist stance in the US-capital markets in its history. Over the course of the past 3-½-years, the Fed has ruled over the US-capital markets with an iron fist, and is erasing the mantra of “Free Markets for Free Men.” Sadly, the US’s long-held tradition of “laissez-faire” (leave it alone) has been dumped into the trash bin of history.
Today, traders must operate under new rules of engagement, and the first question of the day is, what intervention tactics does the Fed have up its sleeve, and when is it planning to unveil its next move? “Quantitative Easing,” “Operation Twist,” and the “Zero Interest Rate Policy” (ZIRP), has become the “New Normal” on Wall Street. Furthermore, the invisible hand of the Fed is controlling the behavior of the capital markets and at the same time, increasing the US-government’s control over the US-economy.