It isn't the President of the United States that has the real power. Presidents come and go. Congress' pimps and panderers come and go too (and too many stay too long).
The power to make or break America, to enslave it or free it, is vested in one person...
The chairman of the Federal Reserve Board.
Now that Janet Yellen has been confirmed as the next chairman of the Federal Reserve she will get the following powers that reside at the Federal Reserve:
You want prosperity? Alan Greenspan gave it to us - not any president or Congress. You want a crisis and a Great Recession? Alan Greenspan gave that to us too.
You want to stop the financial systems of the world from going over a cliff? Ben Bernanke saved all the TBTF banks from imploding into nothingness. You want to make those TBTF banks that all essentially failed a lot bigger? Ben Bernanke did that too. You want to enrich the 1% and eviscerate the middle class? Ben Bernanke did that too.
So what will Yellen do?
Editor's Note: Recently, Senator Paul warned of Roman Empire-Like collapse for America. To see the video that proves the Fed's been hiding bankruptcy from the American people, click here.
There are a lot of questions about how the next Fed chair will steer monetary policy and bank supervisory issues.
But the biggest one in my mind is this: Will she free us or continue to enslave us?
The fact is, there's one thing Yellen could do, when she puts on that bejeweled crown, that would set us down the road toward free markets and a better country.
And it's the first thing she should do. It should be the thing that guides her every policy position, her every decision and her every proclamation to the American people.
Janet Yellen, immediately upon being confirmed, should hold a press conference.
Here's what she should tell America and the world:
"As Chairman of the Federal Reserve Board, I will free America from the economic shackles the Federal Reserve System has forged on behalf of the banks and institutions that have used them to commandeer our free markets.
"I am starting right now by asking the American people to tell Congress to take back the Fed's 'dual mandate' and take 100% sole responsibility for fiscal policies to ensure full employment.
"I am serving notice right here and now that the Federal Reserve will never again be the President's or Congress' piggybank. If they don't want to raise taxes to pay for wars or programs and giveaways they hope to buy votes with, they'll have to pay whatever interest rate creditors demand. We won't ever again manipulate interest rates to finance government deficits.
"And as far as being a lender of last resort, starting today, we're out of that business. If banks are too big to fail, we will dismantle them. If banks are found guilty of criminal acts, we will jail guilty parties and dismantle them. Any capital markets products that cause inordinate systemic risk, in any way, will be either limited to use by bona-fide hedgers or outlawed.
"The Fed's mandate under my rule will be simply to free capital markets from manipulation, engender open competition that serves the public good and ensure price stability commensurate with proactive growth across America."
So what are the chances of Yellen doing this?
Exactly zero.
Yellen is a mild-mannered bank bootlicker who never met a printing press she didn't know how to operate. She's had an extraordinarily successful career, and secured the nomination to be Fed chair, by declining to show that kind of a spine (or a conscience).
We've got a long road ahead of us. Having Yellen in charge doesn't change the fact.
As an investor, you still have to contend with the Fed's Frankenstein market, free markets that are anything but "free," out-of-control computerized trading, currency wars, massive volatility in housing, warfare and terrorism, and so much more that could knock your retirement portfolio into oblivion in a matter of hours.
That's why I'm going to continue to bring you the real story behind the ultimate private money club that is Washington and Wall Street.
We're in this together now. Stay tuned for my next Insights & Indictments.
Shah
P.S. In the meantime, I've got a gift for you. You can use it to keep fighting the good fight - against Washington and Wall Street. Yes, they're big and powerful and in charge (for now). But you do NOT have to be powerless to their manipulations.
Here are the first eight chapters of a book I'm working on: "How to Make Money in Any Market."
I sincerely hope you find it useful. Even if you're not a trader or investor, you owe it to yourself and your family to know what's going on. I'm going to help you. Click below to download it.
"How to Make Money in Any Market" [Draft] Chapters 1 - 8
Editor's Note: In a must-see speech, Senator Rand Paul revealed shocking proof of the Federal Reserve's secret bankruptcy. But the most frightening part of this video is what this could all lead to - a $100 trillion American meltdown. Click here to see the startling evidence...
