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Business/Finance See other Business/Finance Articles Title: Yellen tries to cover the Federal Reserve’s fraud Yellen tries to cover the Federal Reserve’s fraud Posted on November 27, 2015 by Bob Livingston Either Fed Chairman Janet Yellen is a consummate liar or she is oblivious of the economic realities of her policies and those of her predecessor, Helicopter Ben Bernanke. Or, more likely, she is both. In a letter to Ralph Nader on Monday, Yellen said that zero interest rates had helped create millions of jobs by lowering borrowing costs for businesses and consumers. The truth is zero interest has decimated the livelihood of savers and the elderly living off retirement income, while making the 1 percent thousands of times richer. Yellen was responding to an open letter Nader wrote on his blog in which he claimed: “We are tired of this melodrama that exploits so many people who used to rely on interest income to pay some of their essential bills. Think about the elderly among us who need to supplement their Social Security checks every month.” Nader also urged Yellen to consult her Nobel Prize-winning husband, economist George Akerloff, and consider the prospect that “tens of millions of Americans, with more interest income, could stimulate the economy by spending toward the necessities of life.” Nader nails Yellen with: “Please, don’t lecture us about the Fed not being ‘political.’ When you are the captives of the financial industry, led by the too-big-to-fail banks, you are generically ‘political.’ So political in fact that you have brazenly interpreted your legal authority as to become the de facto regulator of our economy, the de facto printer of money on a huge scale (‘quantitative easing’ is the euphemism for artificially boosting the stock market) and the leader of the Washington bailout machine crony capitalism when big business, especially a shaky Wall Street firm, indulges in manipulative, avaricious, speculative binges with our money.” Nader also rightly reminds Yellen that only the crony firms get the benefit of low interest rates. College loans, which are eating up the livelihoods of most future and recent college graduates to the tune of $1.3 trillion in debt, are being charged by the government 6 percent to 9 percent interest. The Federal Reserve (which is neither Federal, nor holds any reserves) is a private bank created by the banksters for the banksters. The Fed lends “money” to other banks — both in the United States and abroad — and the Federal government. The loans must be paid back with interest. But the money the Fed lends is not real money. It’s simply a kited check. It is the central cause of the boom and bust cycle that is currently bankrupting middle America. Artificially low interest rates cause malinvestment. This malinvestment always creates bubbles which inevitably burst as in 2008. The Fed’s money printing policies have caused the recession to continue far longer than it should have, just as the Fed’s policies exacerbated and lengthened the Great Depression. The workforce participation rate is at an historic low. Real unemployment (not the government contrived number) is almost 23 percent, if you include in the count all discouraged workers. So much for Yellen’s claims of “millions of jobs created.” Zero interest means those holding their money in banks or money markets (this especially applies to seniors) are “losing money” by keeping their money in banks, which are supposed to be safe havens. How does this happen? Near zero interest paid by the banks on the savings, and more money printed and infused into the economy devalues their “money,” just like pouring water into milk waters down the milk until eventually there is only water left. And banks’ paying zero interest also drives people’s money into the stock market, which artificially props it up, to the benefit of Wall Street and the 1 percent. The propaganda media always play up rising stock markets as a sign of booming economy, even (or especially when) it is not so. America’s financial system is a fraud, and Yellen is the fraudster in chief. Not one person in a million suspects that his dollars are melting every day and that his dollar assets — his savings and retirements — are evaporating. Because it is gradual, no one gets upset. Now you may ask: “Bob, why are you writing about money when we have so many pressing things going on like illegal immigration and ISIS terror and Syrian war?” Because I believe it is the singularly most important issue to your life and one of the biggest frauds in history. Money printing makes illegal immigration and all wars possible. I believe the best explanation for what is happening, and what you can do about it for your own protection, was written by Lloyd Darland in his outstanding book, “The Emperor’s Clothes Cost Twenty Dollars.” If you would like a copy, please click here. Those who don’t receive this important information will continue to be victims of the constant confusion and noise that diverts the public mind away from government theft of our assets. Underneath lies that deep dark secret that the government gets everything for nothing. It’s all so simple. The money creators “buy” with money that costs them nothing. But you can take these depreciating dollars and buy real assets like silver and gold while there is still time. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: BTP Holdings (#0)
Will somebody please remind the kikes in chief that government isn't there to "create" ANYTHING? Normal economic processes is what we need, so her greatest legacy (they're all slavering for one) would be to shut down the Fed* and turn its ominous cubistic headquarters into a museum of great financial swindles. *or FED, as its riotously rendered by some
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