1. A list of well-connected multinational financial institutions maintained by the New York Federal Reserve. When the Fed undergoes expansionary monetary policy (quantitative easing, open market operations, lowering interest rates, reducing the reserve ratio, printing money, inflation, communism, financial terrorism), the Primary Dealers are the first to receive this money, whereby it is promptly lent to the rest of humanity at interest, in the piss-on-me theory of trickle-down economics. Typically receiving dollar quantities in the billions and sometimes trillions, money given to these banks under guise of saving the economy retains its value to prop up the economy long enough for the Primary Dealers to derive value from this newly created fiat currency. Once the dollars reach the actual people in the economy, typically as presented by a populist-oriented central planning communal directive as espoused by a politician, the value of the dollars are reduced as a result of inflation not only by the arbitrary creation of these dollars by the compatriot-compliant Federal Reserve, but also of the fractional-reserve banking that lends out dollars whilst no money is in the vault for a financial regime looking for the next ruse to thieve even more money from the average working citizen.
As of December 30, 2011, the list of Primary dealers includes the following:more...
Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
1. financial terrorists.
The economy needed saving, but the Federal Reserve gave a bunch of newly printed money to the Primary Dealers instead.