Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
UK Coronavirus Infections and Deaths Projections Trend Forecast - Video - 28th Mar 20
The Great Coronavirus Depression - Things Are Going to Change. Here’s What We Should Do - 28th Mar 20
One of the Biggest Stock Market Short Covering Rallies in History May Be Imminent - 28th Mar 20
The Fed, the Coronavirus and Investing - 28th Mar 20
Women’s Fashion Trends in the UK this 2020 - 28th Mar 20
The Last Minsky Financial Snowflake Has Fallen – What Now? - 28th Mar 20
UK Coronavirus Infections and Deaths Projections Trend Forecast Into End April 2020 - 28th Mar 20
DJIA Coronavirus Stock Market Technical Trend Analysis - 27th Mar 20
US and UK Case Fatality Rate Forecast for End April 2020 - 27th Mar 20
US Stock Market Upswing Meets Employment Data - 27th Mar 20
Will the Fed Going Nuclear Help the Economy and Gold? - 27th Mar 20
What you need to know about the impact of inflation - 27th Mar 20
CoronaVirus Herd Immunity, Flattening the Curve and Case Fatality Rate Analysis - 27th Mar 20
NHS Hospitals Before Coronavirus Tsunami Hits (Sheffield), STAY INDOORS FINAL WARNING! - 27th Mar 20
CoronaVirus Curve, Stock Market Crash, and Mortgage Massacre - 27th Mar 20
Finding an Expert Car Accident Lawyer - 27th Mar 20
We Are Facing a Depression, Not a Recession - 26th Mar 20
US Housing Real Estate Market Concern - 26th Mar 20
Covid-19 Pandemic Affecting Bitcoin - 26th Mar 20
Italy Coronavirus Case Fataility Rate and Infections Trend Analysis - 26th Mar 20
Why Is Online Gambling Becoming More Popular? - 26th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock Markets CRASH! - 26th Mar 20
CoronaVirus Herd Immunity and Flattening the Curve - 25th Mar 20
Coronavirus Lesson #1 for Investors: Beware Predictions of Stock Market Bottoms - 25th Mar 20
CoronaVirus Stock Market Trend Implications - 25th Mar 20
Pandemonium in Precious Metals Market as Fear Gives Way to Command Economy - 25th Mar 20
Pandemics and Gold - 25th Mar 20
UK Coronavirus Hotspots - Cities with Highest Risks of Getting Infected - 25th Mar 20
WARNING US Coronavirus Infections and Deaths Going Ballistic! - 24th Mar 20
Coronavirus Crisis - Weeks Where Decades Happen - 24th Mar 20
Industry Trends: Online Casinos & Online Slots Game Market Analysis - 24th Mar 20
Five Amazingly High-Tech Products Just on the Market that You Should Check Out - 24th Mar 20
UK Coronavirus WARNING - Infections Trend Trajectory Worse than Italy - 24th Mar 20
Rick Rule: 'A Different Phrase for Stocks Bear Market Is Sale' - 24th Mar 20
Stock Market Minor Cycle Bounce - 24th Mar 20
Gold’s century - While stocks dominated headlines, gold quietly performed - 24th Mar 20
Big Tech Is Now On The Offensive Against The Coronavirus - 24th Mar 20
Socialism at Its Finest after Fed’s Bazooka Fails - 24th Mar 20
Dark Pools of Capital Profiting from Coronavirus Stock and Financial Markets CRASH! - 23rd Mar 20
Will Trump’s Free Cash Help the Economy and Gold Market? - 23rd Mar 20
Coronavirus Clarifies Priorities - 23rd Mar 20
Could the Coronavirus Cause the Next ‘Arab Spring’? - 23rd Mar 20
Concerned About The US Real Estate Market? Us Too! - 23rd Mar 20
Gold Stocks Peak Bleak? - 22nd Mar 20
UK Supermarkets Coronavirus Panic Buying, Empty Tesco Shelves, Stock Piling, Hoarding Preppers - 22nd Mar 20
US Coronavirus Infections and Deaths Going Ballistic as Government Start to Ramp Up Testing - 21st Mar 20
Your Investment Portfolio for the Next Decade—Fix It with the “Anti-Stock” - 21st Mar 20
CORONA HOAX: This Is Almost Completely Contrived and Here’s Proof - 21st Mar 20
Gold-Silver Ratio Tops 100; Silver Headed For Sub-$10 - 21st Mar 20
Coronavirus - Don’t Ask, Don’t Test - 21st Mar 20
Napag and Napag Trading Best Petroleum & Crude Oil Company - 21st Mar 20
UK Coronavirus Infections Trend Trajectory Worse than Italy - Government PANICs! Sterling Crashes! - 20th Mar 20
UK Critical Care Nurse Cries at Empty SuperMarket Shelves, Coronavirus Panic Buying Stockpiling - 20th Mar 20
Coronavirus Is Not an Emergency. It’s a War - 20th Mar 20
Why You Should Invest in the $5 Gold Coin - 20th Mar 20
Four Key Stock Market Questions To This Coronavirus Crisis Everyone is Asking - 20th Mar 20
Gold to Silver Ratio’s Breakout – Like a Hot Knife Through Butter - 20th Mar 20
The Coronavirus Contraction - Only Cooperation Can Defeat Impending Global Crisis - 20th Mar 20
Is This What Peak Market Fear Looks Like? - 20th Mar 20
Alessandro De Dorides - Business Consultant - 20th Mar 20
Why a Second Depression is Possible but Not Likely - 20th Mar 20

Market Oracle FREE Newsletter

Coronavirus-bear-market-2020-analysis

Janet Yellen Is Destined To Be The Best Fed Chairman Of All Time

Politics / US Federal Reserve Bank Apr 02, 2014 - 09:37 AM GMT

By: Jeff_Berwick

Politics

Janet Yellen has only been Chairman of the Federal Reserve for less than two months and I am already convinced that she is the best thing to happen since Barack O'Bomber was first elected and awarded the Nobel Peace Prize.

There are a number of reasons for that.

First, as we can see by her speech yesterday she is going to be a laugh riot.  And, secondly, all of her actions will undoubtedly, indisuptably destroy the dollar... And, of course, we dollar vigilantes have prime seats and are positioned to profit from that inevitability.  We thought Helicopter Ben was a literal gold mine but Janet Yellen will easily surpass him as a great source of mockery and profitability.


Let's talk about the lighter side first before we get into how she will oversee the complete destruction of the US economy and dollar.

YELLEN THE COMEDIAN

On Monday she gave a speech in Chicago that had me spitting up my enchiladas in bursts of laughter so bad I had to ask my maid to clean off my computer monitor!

Her style, though, is a dramatic change from her predecessors.  

Alan Greenspan was so good at using language that was confusing and meaningless, the term "Fed speak" was coined to refer to his vague statements. In his book, "The Age of Turbulence," Greenspan revealed that this method of avoiding the issues directly when a clear message wasn't desired was not unintentional. The confusion was used to prevent unintended jolts to the markets as confusing statements are typically just ignored.  In other words, Greenspan actually admitted to purposely saying unintelligible things and no one found this odd.

Ben Bernanke's style differed in that he did not just make up random sentences like some sort of scrabble game but actually spoke in English but usually avoided any real substance.  Usually murmurring and looking scared he would give short, curt responses to questions without really saying much and avoiding any real commentary.

Janet Yellen, on the other hand, is quite verbose it appears.  The media disliked her first press conference because she actually stated some actual facts and info that the market could actually understand.  So, in her latest public speaking engagement, yesterday in Chicago, she mostly talked about all manner of ridiculous things as I'll point out.

The most notable inanity was that she used the same technique as the President uses at the State of the Union theater.  She actually brought up and went into great detail on the plights of three different real people.  The only thing missing was having some hired mercenary from the barrio missing a limb to point at and request applause.  

She described how Dorine Poole lost her job during the Great Recession, caused by the Federal Reserve, and despite her clerical skills she still cannot find work.   Then she spoke of Vicki Lira who lost her job processing mortgage applications when the Federal Reserve caused the housing bubble and subsequent crash.  And she spoke of Jermaine Brownlee, a construction worker who cannot find work after the housing crash... a situation again caused by the Federal Reserve.

This, I suppose, is the grandma looking new Fed Chairman who cares about people... real people... who have had their lives destroyed by the Federal Reserve.  And she is there to give them another kick while they are down with even more manipulations of the market to destroy more wealth.

She gave this speech at some heinous event called the "National Interagency Community Reinvestment Conference"!  Of course, anything this vague and mentioning the need for "community reinvestment" was in the old stomping grounds of the Chief Community Organizer himself, Barack Obomber.

She started off her speech by stating, "I am here today to talk about what the Federal Reserve is doing to help our nation recover from the financial crisis and the Great Recession, the effects of which were particularly severe for the people and the communities you serve."

Even that should make you guffaw, at least a little, if you have some sort of working cerebellum as the financial crisis and Great Recession was mostly caused by the Federal Reserve.

She went on, "Part of that effort has involved strengthening the financial system. New rules are in place to better protect consumers and ensure that credit is available to help communities grow."

Yes, because what is needed to make a community "grow" is more rules and restraints!

She then went on to say something which actually made no sense whatsoever.  It had my eyes crossing trying to comprehend the meaning of it, "One of the most important things you do is to help people meet the demands of finding a job in what remains a challenging economy. And that help is crucial, but I also believe it can’t succeed without two other things.  The first of these is the courage and determination of the people you serve."

Okay, so the Federal Reserve chairwoman just travelled to Chicago to tell people that the most important thing to help people find some way of supporting themselves (jobs) is......... that those people are courageous and determined!

Wow, thank you Janet for coming to Chicago to tell us that the most important thing to survive all the destruction wrought by the US government and the Federal Reserve is that people have courage and don't give up despite how many roadblocks you throw in front of them!  

So, we are all hanging on the edges of our seats, what is the second thing we need to survive this catastrophe in motion?

"It might seem obvious, but the second thing that is needed to help people find jobs…is jobs," she said.

Yes, those are her two main points she wants to get across to people about how to survive the Great Recession.  Be courageous, determined and don't forget, no matter how obvious it may be, that if people need to find jobs the thing needed is jobs.

I couldn't believe at this point that, just like in Europe recently after Barack Obomber spoke, there wasn't just laughter and no applause whatsoever.  

I actually did a Google search for "Janet Yellen Alzheimers" right after just hoping there was a medical explanation for what she was jabbering on about.

Aside from those two great wisdoms about what is needed and pulling three people out of tens of millions destroyed by Fed policies to parade in front of the media she had a few more nuggets of wisdom.

She stated that the Fed is doing everything within its power to further destroy the economy by obfuscating price signals, counterfeiting money and manipulating the price of interest rates.

And for her encore, she stated what else the Fed was doing to "help".  It included authoring a book called, "What Works for America’s Communities" which cited innovative and effective community development initiatives across the country and advocated for a “Community Quarterback” model to coordinate initiatives and better leverage funding among groups with similar goals.... whatever that means!

The Fed also did research and found that one key to success is “collaborative leadership,” when governments, businesses, and nonprofits unite behind one focused approach.  Yes, that should do the trick.

For her final solution she announced that the Fed has backed a grassroots-oriented program called Economic Avenue. In Northeast Kansas City, Kansas, residents and neighborhood leaders are forming a leadership council that will have responsibility for managing the program, which aims to create and grow local businesses, create jobs, and promote homeownership."

She closed with, "These examples are just a few among many throughout the Federal Reserve System. By testing ideas, developing better measurement tools, convening interested parties, and sharing the Federal Reserve’s skills and knowledge with our partners at the national and local levels, we aim to serve as a catalyst to improve lives."

Ah yes, those books and grass roots oriented programs to try to teach people how to grow businesses are all that is needed!  

Thank goodness for the Fed and Janet Yellen or people would never know how to survive the devastation brought upon them by the Federal Reserve.

THE END OF THE MONETARY SYSTEM AS WE KNOW IT

In the respect of brevity, this is how one Wall Street analyst, David Zervos of Jeffries, received her latest speech:

"Ok, I just read Janet’s speech in Chicago today. Holy dovish deepdish pizza batman!! I have no recollection of a Fed Chair’s speech where the lives of three down-on-their-luck job seeking individuals were discussed in detail. This is one loving and caring Fed Chair – I must send her a “no haters” hat immediately! If anyone doubts Janet’s commitment to fighting for more job creation – read the tape. If anyone doubts Janet’s belief that there is excessive slack in labor markets – read the tape. And if anyone doubt’s Janet conviction that there are no material inflation risks on the horizon – read the tape. This could be one of the most dovish speeches I have ever read from a Federal Reserve official! Janet has quickly redeemed her poor performance from 12 days ago. On this assignment she gets an A+. Somehow I always knew she would pull through."

And, I can't say I disagree with him on the dovish part.  What Grandma Yellen is saying is that the Federal Reserve, because it cares so much about people, is ready and willing to further destroy the economy from the ravages brought upon it by the Federal Reserve, to help more people by counterfeiting, further price-fixing of interest rates and helping write books and initiatives advocating "community quarterbacks".

THE CLOSING ACT

As stated above, Janet Yellen is almost like a gift from god here at The Dollar Vigilante.  She will almost certainly give us plenty to laugh about and further destroy the dollar and the US economy to which we are so properly positioned.  Just like Barack Obomber, Janet Yellen will be a boon for all of us positioned in precious metals, bitcoin and hard assets and with most of those assets outside of the US for the end stages of the collapse (subscribe to TDV or come to our upcoming Crisis Conference in Cabo if you are not already in that position).

If you are positioned for what is to come you can laugh along with us as these central planners destroy what is left of the dollar and the US economy as they keep trying to salvage what is left of this dying, communist-style system.

Believe me, hearing what Janet Yellen is saying is a lot funnier and more enoyable when you have your ass and assets far-removed from her ridiculous ideas and control.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2014 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules