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The Greatest Central Banking Con Job in History...
One of the greatest con jobs in history was convincing ordinary people that Central Bankers care about the “economy” or Main Street.
Aside from the complete lack of relevance that Main Street has for Central Bankers from a professional perspective (more on this in a moment), when do you think was the last time that Janet Yellen or her ilk spent an evening with non-banker/financial types? Years ago? Decades ago?
Yellen lives in a super-affluent, gated part of Washington DC. And even within that subset of the US population she lives in a higher echelon: her entourage of security annoys her wealthy neighbors… though I suspect part of the annoyance stems from jealousy.
Regarding professional significance… why would Janet Yellen care about ordinary people? They’re just data points in her financial models. Ordinary people didn’t place her at the Fed (the big banks did). And they didn’t place her as Fed Chair (the financial/ political elite did… with the express intent of gaining future favors).
Think of it this way… imagine there was a super cartel of English Professors who controlled what words you or I could use in daily conversation. These individuals literally could change the structure of the human language if they wanted… removing words or adding words at random.
Now imagine that they randomly pick out a low level English Professor who they elevate to being the face of their organization. Do you think this professor would give a damn about how her decisions/ words affected speech? She literally was made one of the most powerful people in the world by this cartel.
This is case worldwide. Most Central Bankers came up from the Too Big To Fails or Primary Dealers (or they are academics like Yellen or Bernanke who get their first taste of the “real world” when they’re literally running the financial system).
Literally their entire personal net worth… their professional clout… and their sense of accomplishment was derived from working at these organizations.
And somehow they’re supposed to give a hoot about Joe the Plumber or Bob the Boilermaker? They don’t even deal with those people face to face when they have a problem with their homes. “Hello this is Mario Draghi… the man who controls the currency in your economy… could you please come fix the sink?”
This is why Yellen, Draghi and the like can say with a straight face that maintaining ZIRP or NIRP benefits the economy. It’s why they can spent trillions to bail out/prop up banks without batting an eyelid. It’s why no one who committed fraud went to jail. It’s why lying and cheating in the financial system is allowed… even applauded… because the ones lying and cheating are the same people who picked out/ promoted the regulators.
And this is why we’re heading for another Crisis… one that will be even bigger than 2008. The fraud that caused 2008 was not solved. Instead it was allowed to spread into the public sector. Today most Central Banks are sporting leverage ratios that would put Lehman Brothers (pre-crisis) to shame.
So the next time something breaks in the financial system… it won’t be just individual banks going belly up. It will be entire countries. What’s happened in Cyprus and Greece is coming to your neighborhood… wherever you are.
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Better be long physical widgets.
The Social Security Administration has announced that for the third time in six years there will be no COLA because there is no inflation. Yet ShadowStats Alternate Consumer Inflation measure reports that September Annual Inflation is 7.6% when the gimmicked CPI is reversed back to the official CPI reporting methodologies of 1980.
The New American reports:
“There was no COLA in 2010 or 2011, thanks to the government index used to determine whether an “adjustment” (increase) was justified, to offset inflation. This year’s culprit was the price of gasoline, which fell 23 percent, wiping out any chance for an increase in the checks going to more than 60 million recipients.
“According to the Senior Citizens League, those recipients have lost nearly a fourth of their buying power over the last 15 years, thanks to the rising cost of housing and medical expenses. Since 2000, housing costs for seniors have increased by 44 percent, heating oil by 159 percent, eggs by 117 percent, and gasoline by 76 percent. Since then, however, Social Security’s COLAs have averaged just 2.2 percent per year.”
This country is on the wagon trail to extinction - because of the Federal Reserve. It is clear that the Fed’s destruction of the nation’s true middle class and small businesses is deliberate.
It must be said that these owners of the Fed are operating on a philosophy that has destroyed societies and countries on several continents over the past two and half centuries. It is a philosophy of financial tyranny and national money debt whereby the bankers surrender nothing at all and which it is physically impossible for the nation ever to repay; whereby financiers work with government officials to, first, enable the leaders to achieve their personal goals and, then, begin to gain control over those officials.
It is a way in which “thin-air” banking controls governments and societies for its own benefit.
It happened in the monarchies in Europe, it happened in Russia beginning in 1917, it happened in England, it happened in South Africa and Rhodesia and the Balkans, it is happening in occupied Palestine and parts of the Middle East and, now, it has happened here.
From its inception on this continent in 1913, the owners of the Federal Reserve began to overtake presidential administrations, starting with the Woodrow Wilson administration. It only deepened with the financing of world wars and domestic policy and with the elections and monetary support of favored congressmen, helping to keep in office those who delivered the payoff largesse to Fed lobbyists and their selected enablers.
It has now culminated in the current administration - led by a leader elected by mob rule, much of that mob having been and now being imported for that purpose.
Surely the events during this government slowdown demonstrate the raw power and the arrogance that these tyrants have turned against the American people, punishing them by redistributing and devaluing their wealth for the bankers’ own personal gain, stripping them of the land and prosperity that was to be their children’s inheritance.
First, the Fed merely operated parasitically, taking an increasing share of America’s industry, commerce and labor; but in recent decades its parasitic operations have turned into a complete dictatorship, into a supranational power, controlling all major branches of government and the media, until America has found herself impoverished in the midst of her land of plenty.
Where is the next step?
With the appointment of Janet Yellen, following the trail of Greenspan and Bernanke as superintendent of the international banking families’ will, it is past time to identify the root of this systematic exploitation that is conquering a nation, and strip it of its power to monopolize national social credit and thus control the basic activities of all American life.
If it is anti-Semitic to say that not only are these primary owners of the Fed Jewish, but that they are following the historic government approach of 2000 years of Jewish philosophy, namely Bolshevism and its total control of virtually all publications, the Press and broadcasts to prevent the truth regarding its enslavement of peoples, then so be it.
If America cannot stop the abuse of this present economic system that has created the gravest economic crisis ever to envelop the world by ending the Federal Reserve system, then who?
http://www.thenewamerican.com/usnews/politics/item/21780-social-security-defaulting-again-on-its-promises-no
http://www.shadowstats.com/
A great and long overdue article, Phoenix. Thank you. Yellen, like Bernanke and Greenspan, is there to use her soothing professorial talents to lull the sheeple to sleep while the Fed money trust loots the nation.
What "THEY" do - these "Economists", is to Practise the Black Arts of Clipping coin and debasing Fiat Currenty, er, on behalf of the Bankers. This Cult has roots going back ~5000 years and more.
It's Not the Economy, Stupid, it is "THEY".
But, there is hope and it started on September 28, 2015
http://www.paulcraigroberts.org/2015/10/17/the-fall-of-the-unipower/
Ho hum
It's a race between Huxley and Orwell....
We have the Federal Reserve which isn't really Federal and it's reserves are bought with money conjured out of thing air.
It's like the Wizard of Oz wasn't fantastical enough they had to one up that.
We could go with Hope and Change or Compationate Conservative or the Patriot Act but my all time favorite was Tarp...
Yeah like a tarp pulled over the last twitching remnants of the Republic.
I honestly wonder why anyone even bothers writing (or reading) these kinds of articles anymore. Guess they have a stash of ammo cans, mre's, and sterno they need to sell. Empires collapse. This one will too. That's not a prediction at this point, it's observation.
Wonder if your Free Copy says the same thing as my Free Copy?
The "English Professors" are at work as I write. Blacks Law Dictionary latest edition is in paper backk form in our library--, if you check out the flyleaf of this boook states plainly, the book has been abridged. The old book was still in the shelfs so I compared on a random basis much of the information in the new book. Any attorney who uses the new book will find about a 25% reduction/deletion of much material nd selected definitions and changes.
40 years from now that book will be the size of a comic boook and about as useful. WE is on our way. Milestones
Just who were these rubes they convinced of this?
Government employees.
AND these 'bankers/economists' have never worked for a living, scarfing down a paycheck w/paid health care and pensions WAY beyond that available to the person they are managing the economy for who actually work for a living.
There is no way either the fed or the current form of gov could exist without each other. Ya buddy its force.
Banks and government force is not really a con job. Its force plain and simple.
Together they form a psycotic critical mass that may take out humanity. JMHO.
UNPOSSIBLE!!! Everybody knows that they are the smartest people ever. Don't believe me? Just ask them.....
If they were so smart, how come they can't write? They could at LEAST hire a proof reader. As is, they look like morons who dropped out of preschool. Oh... wait. This is FoneX Crapital. My bad.