Fed hunting for taxes

Junk Bond Yields Hit Record Low: Most Distorted Markets Ever

by Wolf Richter 

Well, not markets. Fed-managed paper exchange.

The Fed needs gains to remits for Treasury to stave off sudden Nixon Shock.  This is part of the MIT scam of the 70s. But the market makers are smart enough to hide from the tax. Hence the utter futility of using fiat banks as tax collectors. Powell knows this is horseshit, so does Yellen.