Former OMB Director under the Reagan administration David Stockman went on an all-out RANT against the Fed this morning on CNBC, stating that
“Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem. They have destroyed the capital markets and the money markets; interest rates mean nothing; everything is trading off the Fed and Wall Street isn’t even home… as it’s now a bunch of computers trading word-clouds emitted by this central banker and that… The Fed and the lunatics that run it are telling the whole world untruths about the cost of money and the price of risk!
FULL MUST WATCH INTERVIEW BELOW!!