Primary Dealers – the Truth About Their Iron Grip

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

armstrongeconomics.com / By Martin Armstrong / June 1, 2013

QUESTION: 

Martin,

On Page A11 of the IBD today (5/29) a statement was made that seems to fit your claims.  It is something that having been in the business for 24 years I was unaware of.  The entire article is actually quite interesting.

Please clarify the following, made in the 4th paragraph;

…..BNP Paribas in New York, one of 21 Primary dealers that are obligated to bid at U.S. Government debt offerings.

Is this factual???

Are they “obligated”?

Will they be “obligated” when government debt is in free-fall?

You have become my primary source for applying history in today’s world and common sense thinking globally.

I often try to tell my 14 yr old son…if you listen- you can take advantage of the ACCUMULATED wisdom of your grandparents knowledge passed onto me, and my knowledge passed onto you, to learn life lessons  You have to be able to put your ego aside and learn…you have 70-100 years of life’s experience to take advantage of. Not many 14 year old boys are capable of grasping that, and if you can, you are way ahead of the game.

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Thanks to BrotherJohnF