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The First Thing Janet Yellen Can Do to Save America


Capital Wave Strategist, Money Morning

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.

Yellen, the now vice-chairman of the Federal Reserve Board, the body that runs the Fed, has been nominated to the chairman's seat to run America. 

She will be confirmed. 

When she takes office, likely in January 2014, she will get the following powers that reside at the Federal Reserve:

* The power to control the money supply

*  The power to control interest rates

*   The power to supervise - or more aptly the power to supersize - the big banks that have become the arbiters of our daily lives and our manifest destiny (manifesting money in their bonus pools)

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?

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.

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The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???

In alphabetical order by Country....



Alphonso (mango)
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DHL (INDIA) makes gifting mangoes as easy as 1-2-3-....

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Come this summer pamper your loved ones abroad with a box of delicious mangoes through DHL’s Express Easy Mango service, a unique one-stop-shop and hassle-free service for gifting mangoes all across the world.

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