[SkyPilot]

I trust the Fed’s published balance sheet as much as Mexican tap water. Drink away my friend.

[RoosterRedux]

Then look at the big bank balance sheets and see what you find.

I am a retired Wall St investment banker...back in the good old days when a man's handshake was his word and bond.

Things have change a great deal, but I am still a good agent at assessing financial intel.

Banks nor the Fed itself buy large amounts of equity (the Fed buys none). As an investor, I would see the markets move to reflect this if it were so...it is not.

That said, the injection of Fed funds into the market in bonds would still produce a positive correlation between QE and a rise in the S&P.

I was a senior investment banker, able to commit my firm's capital without the need for higher approval...what are your credentials.