Janet Yellen has a bachelors degree in Economics from Brown University and a doctorate in Economics from Yale, so why is she so completely clueless when it comes to rudimentary economics? She must know the history of fiat currency. She must know that every fiat currency ever put into circulation, throughout history, has ended with a cataclysmic failure. She must know that flooding the system with freshly printed cash, essentially “helicopter money” for the government, will ultimately lead to spiraling inflation. So why did she fail to increase interest rates when the system was consistently gaining and growing, but now that it’s stalled and reversing, she’s he’ll bent on continuing the threat to increase rates, which could only further stifle the system and cause an even quicker economic retraction?
The answer is really very simple, when someone accepts the job of Chair of the Board of Governors of the Federal Reserve System, they must become an actor and take on a pre-determined persona. The persona is one of intelligence, confidence, and control. Unfortunately, it also requires that you check your beliefs, morals, and conscience at the door upon entry. Alan Greenspan is the perfect example. He was a staunch supporter of private ownership of precious metals before and after his nearly twenty year tenure as Fed Chair, but during his time as Fed Chair nary was its importance mentioned.
Support for gold and other precious metals detract from support for the Dollar. The Federal Reserve was created by a rich and privileged boy’s club, for their own entertainment and benefit. More than 100 years later, nothing’s changed (except girls can play too). The group is not voted for by the people, accountable to the people, or responsible for truthful direction in any way (just like the government). And the ongoing vacillation between regional presidents, regarding the threat of increased interest rates, is one of the few forces moving the market at all, but for what purpose?
As Fed Chair, Dr. Ruth would be able to facilitate the same results, but she would do it without the smoke and mirrors currently employed. Yesterday’s FOMC Meeting minutes confirmed that. She would apply the same straight-forward logic and direction as required for her current position. And her mantra would remain the same, “Masturbate, Masturbate, Masturbate!”