Fed Official Confesses Fed Rigged Stock Market Crash CertainBy David Haggith While that is no news to readers here whose eyes are wide open, a market put has been denied by the Fed and by many market advisors. That the market was an overinflated bubble created by the Fed has been denied, too; but Fisher clearly and gleefullyadmits the Fed created a bubble that will have to deflate now that the Federal Reserves stimulus is off. Asone of the members of the Federal Reserves FOMC (the Federal Open Market Committee, which sets US monetary policy), RichardFisher participated in andvoted on all of the Fedspolicies of zero interest and quantitative easing, so he has inside knowledge of all the discussions behind the scenes at the Fed. Here are the significantquotes from Richard Fisher on CNBCs video: What the Fed did and I was part of that group is we front-loaded a tremendous market rally, starting in 2009. Its sort of what I call the reverse Whimpy factor give me two hamburgers today for one tomorrow. Im not surprised that almost every index you can look at was down significantly. [Referring to the results in the stock market after the Fed raised rates in December.] Basically, we had a tremendous rally, and I think theres a great digestive period that is likely to take place now, and it may continue. We front-loaded at the Federal Reserve an enormous rally in order to accomplisha wealth effect. I wouldnt blame [what is happening in the markets now] on China. Were always looking for excuses. I wasnt surprised at last year. And I wouldnt be surprised at a rather fallow performance this year as well. A lot of people are building cash positions. Those [investors] that are taking a longer term view are being extremely cautious here, are raising their cash levels, are nervous about the valuations that are in the market. The values are very richly priced here, so I could see significant downside. Asked if saw a big unwind from the Feds 6.5-year policy and what it would look like on the way down, Fisher responded, I was warning my colleagues, Dont go wobbly if we have a 10-20% correction at some point. Everybody you talk to has been warning that these markets are heavily priced. Elsewhere Fisher said: The Federal Reserve is a giant weapon that has no ammunition left. You have to be careful here and frank about what drove the markets. It was, the Fed, the Fed, the Fed, the European Central Bank, the Japanese Central bank all quantitatively driven by central bank activity. Thats not the way markets should be working. They were juiced up by central banks, including the Federal Reserve. So, I think you have to acknowledge reality. Its about time for breaking the economic denial. Acknowledging reality is what many in the mainstream media, at the Fed, and among economists and stock analysts refused to do. Now that the US stock market appears to be crashing, is Richard Fishers confession to cover his own hind end, by saying, I warned the guys about this, and I voted against QE3 because I knew it went too far? Is he just the first rat to flee the sinking ship, or is he just the most honest of Fed officials who is no longer on the board so feels freer to talk? Your thoughts? (And please pass the confession along so that it gets lots of play time because you dont get a confession like this about the inner arguments of the Fed very often. I imagine Yellen is doin a little yellin right now.) You can read more from David Haggith at his site The Great Recession Blog. These limited hangout confessions are not a surprise, theyre part of the larger PSY OP building a narrative that governments and the global economic system need to be replaced with [..] their new high tech prison planet. Learned helplessness and desensitization are also part of the psy op. the unfed needs to go and all zentral banks need to fail and the gold collar scum usury and agendas. If these admissions were not so devastating to so many people I would laugh, but the only reason they are being made is because EVERYONE KNOWS IT ALREADY. Hey, theyre coming clean. You can trust them again. So hes proud that the Fed created phony wealth by pumping out dollars, with all the QE and unnaturally low interest rates. He still believes the wealth effect (whereby the central bank induces people to make imprudent spending and investment decisions) is GOOD for the economy. It is NOT. It should be called the phony wealth effect. Hes made millions, of course he believes his own propaganda! Sadly. Got a charge out of the Saudis threatening the U.S. government and dictating what they can and cannot publish concerning 9/11. Is this tantamount to a confession? Just what did the Saudis do and why? OR: is this a red herring to take the heat off the Mossad/Israel? David Haggith . . . This article is far oversimplified . . . Our situation today resulted from a group effort by many a diverse set of groups . . . . I dont know your background . . . but, it starts with the flaws in our tax systems of today . . . for just half the story and the resulting realities we face as a world I suggest For Good and Evil: The Impact of Taxes on the Course of Civilization by Charles Adams. 