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Invest with the Fed: Maximizing Portfolio Performance by Following Federal Reserve Policy by Luis Garcia-Feijoo, Gerald R. Jensen, Robert R. Johnson

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INTRODUCTION: FEDERAL RESERVE POLICY

I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people.

Reginald McKenna,chairman of the Midland Bank,addressing stockholders in 1924

September 8, 2013, started with the global equity markets spiraling downward, languishing as a result of a confluence of economic data that were below expectations for a recovering economy. Suddenly markets all around the world reversed course and surged upward, restoring billions of dollars in global wealth in literally a matter of minutes. What dramatic event caused this remarkable reversal ...

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