April 1, 2024
Washington D.C. SEC Chair Gary Gensler has announced that the SEC will be formally launching an investigation into the Federal Reserve for manipulating equity and cryptocurrency markets. Gensler stated, “Every couple weeks when I check Zerohedge headlines, I see an article about Powell manipulating markets. It would seem that he is engaging in classic market manipulation by influencing securities pricing with his announcements regarding monetary policy.”
Market manipulation is practiced by all central banks, but this is the first time that a central bank has been the focus of scrutiny of a regulatory agency for blatantly manipulating markets. While it is unlikely that the SEC will pursue formal charges, there could be a change in Fed policy due to pressures from the SEC.
Some changes may include keeping interest rates permanently low, especially going into selection season. There also may be the possibility that if Biden is selected again, he would appoint a new Fed chair to pump the nation’s bags.
Individuals familiar with Gary Gensler told the Bugle that he has been watching a lot of Ron Paul recently and seems to be influenced by Paul’s strong stance on auditing and eliminating the Fed. It would seem though that Gensler, instead of looking at the benefits of a free and open market, is taking Paul’s views on the Fed and applying them for his own political aspirations.
The XRP Army has taken the investigation to mean that the Federal Reserve will be adopting the XRP token for cross border payments. “If the SEC is going after the Federal Reserve like they did Ripple, the Fed will know how we all felt. The SEC’s investigation is stupid, and we hope they win their case so they can begin using XRP and pump my bags.”
Tom Luongo is speculating that the investigation shows there are different factions within the fiat system grappling for control and that this could be a harbinger for a real CBDC instead of Fed Now’s CBDC lite.
This is a guest post by Bitcoin Bugle. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
