Primary dealers do not control the Fed.
pulled the easy availability of credit last year- with the express purpose of gaining more wealth and more power.
How do massive mortgage defaults give primary dealers more wealth or power?
The Primary Dealers love deflation. It makes existing debt more expensive to pay off.
Let's drive our customers out of business, we'll be rich!
The Federal government loves inflation for the simple reason that it makes existing debt cheaper - and allows them to pass a "hidden tax" on to the public.
Income taxes and benefit programs are indexed for inflation.
Most all of us are debt slaves - including the guy that defaults on his mortgage. The bigger banks (not regional or state) wind up with the wealth that the foreclosed property contained,
So Bank of America loans a guy $280,000 to buy a $300,000 home that's now worth $200,000. How does Bank of America get all that wealth out of the property?
Bottom line, I believe you think the Fed is just "trying to do its job to pull us out of this mess".
As a matter of fact I do.
I believe that the Primary Dealers who completely control the Fed
In your dream world, how do they exercise that control?
did all of this intentionally
Did all of what? Be as specific as you can.
I'm not going to waste my time trying to convince you of where I believe you're wrong, since we're both pretty well set in our current thoughts regarding the economy. This is where watching the next year unfold will tell us a lot of information.
I sincerely wish you well in your financial endeavors.