(Stillness in the Storm Editor) This recent development will make it easier for the Fed to buy debt and securities to inject money into the economy. Some say that this move is the beginning of the end. Others suggest this is precisely what the global reset will look like.
One question to ask is… what is the asset backing the funds being injected into the economy? The idea that banks “print money out of thin air” is an analogy for a much deeper conspiracy. Money is indeed backed by something, even fiat money. The answer to what it is truly backed by will give you a clue as to what backs these recent shifts in financial liquidity. In my opinion, don’t listen to the doomsayers. This will make more sense in time.
– Justin
(Investment News) The new fee structure addresses how the asset manager will handle conflicts of interest inherent in its arrangement with the Fed
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by Staff Writer, March 30th, 2020
BlackRock Inc. is waiving investment advisory fees on ETFs it buys on behalf of the Federal Reserve Bank of New York, according to documents published Friday.
The world’s largest asset manager may also collect more than $4 million per year for managing a separate portfolio of commercial mortgage-backed securities issued by government agencies.
The new details on fees followed an announcement Tuesday that BlackRock would run three debt-buying programs on behalf of the U.S. central bank, amid unprecedented government efforts to prop up an economy reeling from the spread of coronavirus. These programs include purchasing and running portfolios of agency commercial mortgage-backed securities, newly issued corporate bonds and existing investment-grade corporate bonds and exchange-traded funds.
The Federal Reserve Bank of New York will not pay fees on any ETFs BlackRock buys on its behalf, whether they’re issued by BlackRock or others, according to the documents. BlackRock will also credit any other associated fees it would have collected from purchases of its own ETFs in the program.
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The new information offers a window into how BlackRock will manage conflicts of interest inherent in its arrangement with the Fed. BlackRock is the world’s largest issuer of ETFs, which has raised questions about how it will remain objective in choosing appropriate investment-grade corporate debt ETFs for the central bank to buy.
Stillness in the Storm Editor: Why did we post this?
The news is important to all people because it is where we come to know new things about the world, which leads to the development of more life goals that lead to life wisdom. The news also serves as a social connection tool, as we tend to relate to those who know about and believe the things we do. With the power of an open truth-seeking mind in hand, the individual can grow wise and the collective can prosper.
– Justin
Not sure how to make sense of this? Want to learn how to discern like a pro? Read this essential guide to discernment, analysis of claims, and understanding the truth in a world of deception: 4 Key Steps of Discernment – Advanced Truth-Seeking Tools.
Stillness in the Storm Editor’s note: Did you find a spelling error or grammatical mistake? Send an email to [email protected], with the error and suggested correction, along with the headline and url. Do you think this article needs an update? Or do you just have some feedback? Send us an email at [email protected]. Thank you for reading.
Source:
https://www.investmentnews.com/blackrock-waives-fees-federal-reserve-190772
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