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Right now as we write, the current Fed Reserve Vice Chair Janet Yellen is up on Capitol Hill seeking confirmation to replace Bernanke as Numero Uno.
Its all a formality.. they always are.
Yellen doesn't see the Fed as creating asset and market bubbles and supported all of Bernanke's decisions.. This equals relatively smooth sailing..
She will be the third Fed Chair in a row to not possess any 'balls' except in her case it will be at least at the beginning due to being biologically a woman.
Greenspan and Bernanke didn't have that excuse
Who knows.. Will Yellen be a whore to the banks and their interests like the others?
Oh you Betcha! :-)
Because in this business i.e. the business of propping up the well-to-do, it really doesn't matter if you are a card carrying Republican (Bernanke) or lifelong Democrat (Yellen)
Scum is scum is scum..
And if one wasn't scum, there's no way that individual would ever rise among the ranks of the Fed to get anywhere near an appointment to run it..
"Ladders" whether they be corporate, academic or political are established for a specific purpose by the System...
It is to ensure as best as possible no wide-eyed optimistic young 20-something with delusions of sincere change will ever get a slightest lick-taste of power until they go through a process of conversion..
And once he/she has a family, bills/debts, and the grey hairs of age which ensure finding new career paths a near impossibility and the System is fully entrenched into their life like a Mafia, then and only then is one allowed to move up that ladder to the very top..
Yellen is no different..
No one reaches the summit of a mountain of rot without a lot of soul-selling.
Think of politicians -- how many hands they shake, babies they kiss, fake smiles they emote while making promises they know they won't keep.. Election upon election..
No one allows a do-gooder to be in a position where he or she may do good..
Some believe Obama is an exception-- He's not.
At very best, he was an idolistic, sincere man who quickly got neutered and spayed by the power brokers who truly are in charge (no conspiracy theory on this- your elected leaders do not run this nation) back in 2008 and has been a loyal puppy overall..
At worst he is like all the others.
Do you ever think a good person with good intentions will ever be in charge of the Fed?
They say the US President is the most powerful person in the world. That is not true..
The most powerful is the US Fed Chair... He/she is the one who bails out all the other central banks and pretty much runs the world economically..
Reserve currency status has some perks.
So once again let us be brutally candid about the Federal Reserve -- the entity defines and executes policies aimed at aiding the banking system, not the overall US economy.
It is vital you understand this or else you will believe all the continual bullshit the mainstream and financial media throw at you about how their actions are necessary to help the overall economy grow...
They work to aid banks, not the nation.
That was their 1913 charter...
There used to be something called Trusts which were the banks' backstop against crashes or 'panics' to ensure risky investing could continue unabated.
In 1907, the Panic was caused specifically by the crashing of the Trusts..
And thus.. We have this monstrosity.
And although the Fed may claim that these are one and the same, it knows these interests are not. They're actually contradictory.
The idea that supporting the banks equals supporting the US people, is just that: an idea and also a purposeful illusion.
We've said this before.. we will give you the Fed playbook for early 2014..
Yellen will be approved by Congress and then replace Bernanke.. She will then pretend a new Sheriff is in town by insisting that some form of tapering commences to cut back the $85 Billion/mo asset purchases.
This will create rumbles and from this an orchestrated mini-panic or mini-crash of a couple thousand points over the span of 3 weeks..
Yellen will fully be aware of this before it happens..
Once it occurs and the deeply ignorant population who never bother to educate themselves on any aspect of the Fed gets panicked over their precious 401k's, Yellen will now have political cover..
To bring spending back to $85Billion monthly?
Nope.. that's not the endgame goal
The System needs more money... more blood... So expect the Fed to increase purchases to $120Billion monthly.. Maybe $150B.. The populace won't know the difference and be grateful for it..
Its already spent over $3 Trillion domestically since 2009 and no one's day seems affected
And that's how you make horribly short-sighted, destructive policy and be praised for it..
Really no different than how Lincoln manipulated the start of the Civil War.
Lincoln wanted war Badly with the South.. Just didn't want to be the one who fired first.. Didn't want that war mongerer label
So this big orchestration occurred in April 1861 involving Ft Sumter and the Union simply wanting to provide food, clothing and medical items to those inhabiting the fort.
Weapons and ammunition were supplied too but of course the northern press never reported it..
And the South knowing that they could not allow a foreign power to occupy one of their forts forever, was manipulated to fire first.
And Lincoln got his war and the Union its ultimate Pyrrhic victory. And only cost 600,000 needless dead and over $6 billion spent in 1861 currency. Quite an expensive shotgun marriage, yes?
And of course LBJ had his 'Gulf of Tonkin' excuse in 1964...
And Bush milked 9/11 to the last drop to engage us in Iraq...
Its no different then chess.. You never accomplish any goal making straight moves.. Its about distraction and deception..
No wonder historically Kings loved playing the game..
And Yellen will do the same..
The QE is like a drug; a fix that doesn't 'fix' anything..
An addiction is quickly developed due to its initial euphoria and with QE like heroin or Vicodin, one needs more and more of it to get the same effect or those pesky withdrawl symptoms kick in..
And they can be nasty buggers..
And $1 Trillion annually is just not enough to keep all the plates spinning anymore and those who run and manipulate the game know it.
Its funny.. we used to deeply Hate this topic i.e. finance, economics and the stock market because we found it all so dreadfully boring...
Now we hate it because its so damned Evil..
But we have a self-imposed responsibility to do our best to inform others of the truth of things and make all this intentional double-talk gobbletygook economic bullshit understandable to most people