It is estimated that there have been more than a dozen central banks buying publicly traded stocks since the market crash of 2008.
By Pam Martens and Russ Martens of Wall Street on Parade
To an ever growing degree, the U.S. stock market is being propped up by hedge fund algorithms, corporations taking on debt to buy back their own stock, big Wall Street banks’ dark pools trading in darkness and foreign central banks and foreign sovereign wealth funds gobbling up U.S. stocks.
Now it seems that the tiny window the public has heretofore had on those foreign central bank purchases is closing. On May 9 of this year, the Central Bank of Norway, Norges Bank, made a filing with the Securities and Exchange Commission and omitted the names of more than 2,000 U.S. traded stocks it owns with a value of more than a quarter of a trillion dollars. It explained its actions as follows in the filing:
“Norges Bank has submitted its Form 13F to the Securities and Exchange Commission pursuant to a request for confidential treatment. This action is consistent with discussions between Norges Bank and the Staff of the Securities and Exchange Commission to coordinate the reporting required under Section 13(f) with the extensive public disclosure requirements under Norwegian law applying to Norges Bank.”
Norges Bank added a note explaining that while it didn’t want the public to have access to its holdings, it was filing the list of its stock holdings separately with the SEC.
We know, however, from the report previously filed for the quarter ending on 12/31/2017 all the names of the U.S. traded stocks the Norway Central Bank owned at that time. That included $29.6 billion in total in the big tech names of Amazon, Apple, Alphabet (parent of Google), Facebook and Microsoft.
The Norway Central Bank also held $10.33 billion in total in five of the biggest derivatives players on Wall Street: JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley – companies which are also plumping their stock prices by engaging in massive buybacks of their own stocks…