The Fed Is Not Independent and Never Has Been

BIS2

Source: TheDailyBell.com
February 16, 2017

Yellen defends independence of Federal Reserve … Federal Reserve Board Chair Janet L. Yellen defended the central bank’s independence Wednesday from Republican lawmakers pushing for major changes in how the Fed operates and how regulators oversee the nation’s banking system.

The Federal Reserve is not independent and never has been. It is part of the Bank for International Settlements for one thing. The BIS coordinates central banks around the world. That’s one of the reasons many central banks seem  to do the same things at the same time.

But that’s not the opinion of a House committee which seems to believe that Janet Yellen can do what she wants. GOP lawmakers “challenged Yellen’s handling of the economy and her leadership in implementing the 2010 Dodd-Frank Act.”

“After eight years, there is zero evidence that zero interest rates and a bloated Fed balance sheet lead to a healthy economy,” House Financial Services Chairman Jeb Hensarling (R-Tex.) told Yellen.

Hensarling is going to try to bring legislation that will force Yellen to follow a specific formula requiring the bank to set interest rates in a certain way and then have those rates further scrutinized by the Government Accountability Office.

Yellen  is against this. She says the Fed would be badly crimped by the use of just one single formula.

But the larger issue is that for political reasons the House is wrong about Yellen. She is fully controlled, but the control comes out of England’s square mile city.

The BIS helps coordinate central bank actions around the world. It is for instance so many central banks are trying to keep rates down, even though Yellen may move up a few points.

Meanwhile, London’s city itself is run by the same central bankers and others who ultimately run the Fed. They helped set up central banking some 500 years ago. They still control central banking in the larger sense from what we can tell.

Conclusion: So rather than being free to do what she pleases, Yellen is constrained on all sides. She basically does what she’s told. The only trouble is that it’s not what the current administration wants her to do. But that’s a great deal different than doing what she wants.

Read More At: TheDailyBell.com

THE BOOMER RETIREMENT MEME IS A BIG LIE

Source: TheBurningPlatform
Jim Quinn
April 4, 2016

As the labor participation rate and employment to population ratio linger near three decade lows, the mouthpieces for the establishment continue to perpetuate the Big Lie this is solely due to the retirement of Boomers. It’s their storyline and they’ll stick to it, no matter what the facts show to be the truth. Even CNBC lackeys, government apparatchiks, and Ivy League educated Keynesian economists should be able to admit that people between the ages of 25 and 54 should be working, unless they are home raising children.

In the year 2000, at the height of the first Federal Reserve induced bubble, there were 120 million Americans between the ages of 25 and 54, with 78 million of them employed full-time. That equated to a 65% full-time employment rate. By the height of the second Federal Reserve induced bubble, there were 80 million full-time employed 25 to 54 year olds out of 126 million, a 63.5% employment rate. The full-time employment rate bottomed at 57% in 2010, and still lingers below 62% as we are at the height of a third Federal Reserve induced bubble.

ScreenHunter_55 Apr. 05 07.52.jpg

Chart via econimica

Over the last 16 years the percentage of 25 to 54 full-time employed Americans has fallen from 65% to 62%. I guess people are retiring much younger, if you believe the MSM storyline. Over this same time period the total full-time employment to population ratio has fallen from 53% to 48.8%. The overall labor participation rate peaked in 2000 at 67.1% and stayed steady between 66% and 67% for the next eight years. But this disguised the ongoing decline in the participation rate of men.

In 1970, the labor participation rate of all men was 80%, while the participation rate of women was just below 43%. Then Nixon closed the gold window, setting in motion a further debasing of the currency, unleashing politicians to promise voters goodies without consequences, and giving Wall Street bankers and Madison Avenue free rein to use propaganda to bury Americans in debt, while convincing them trinkets and baubles were actually wealth.

Continue Reading At: TheBurningPlatform.com