The ascension of Donald Trump to the office of President marked a paradigm shift for the nation’s central bank, which has run autonomously and without any real oversight for the past eight years. But now a day of reckoning is coming upon the Federal Reserve, and it is appearing more and more that these ‘academic economists’ are more apt to quit and run than to face up to the havoc that their failed monetary policies have created.
On Feb. 10, the Fed’s top regulator suddenly handed in his resignation five years before his contract was up, signalling that members of the world’s largest central bank are about to come under some of the heaviest scrutiny, and possibly largest audit, the bank has ever received. And many of them are in fear of what the Trump Administration might find out regarding the unlawful activities they conducted outside their mandate.
This ‘relationship’ that is mentioned in the Podesta email leaks is in regards to Tarullo’s part in helping then President Barack Obama formulate the bailout of Goldman Sachs through a taxpayer funded bailout of insurance giant AIG.
But of course Tarullo’s resignation isn’t the only one being invoked here in February of 2017. Back in September of last year, Atlanta’s head man Dennis Lockhart put in his walking papers as well, effective at the end of this month.
And ironically, Lockhart will probably not be the only regional President to submit their resignation here in the coming months.
The rise of the Populist Movement, which began with Occupy Wall Street and has grown to elect a President that is in opposition to the central bank, has made the Masters of the Universe quake with fear, especially since they have no idea to what lengths Donald Trump will go in auditing, investigating, vilifying, and perhaps even indicting individuals who have destroyed the dollar, and the nation’s monetary system. In fact, more than 20 years of low to zero interest rates, expanding the money supply to the point where the nation’s debt is now greater than its annual GDP, and a side effect of wealth redistribution from the Middle Class to the ultra wealthy, has proven that either the Fed is utterly incompetent in their instituting of monetary policy, or they knowingly have been involved in a ponzi scheme meant to destroy the U.S. economy, and siphon its wealth into the hands of the top 1%.
And in both scenarios their punishment should be death. Death of reputation or death by hanging.
Three days ago, the second in command at the Federal Reserve admitted that the central bank was clueless on what to do next regarding monetary policy, which should not be surprising considering how much they lied about the nation’s ‘recovery’, and their use of faulty data models regarding inflation, unemployment, and the need to raise rates.
And even in this statement, Vice-Chairman Stanley Fischer infers in his final words that the Fed for the longest time hasn’t been following their lawful mandates, and have instead been functioning outside the law in scenarios such as bailing out foreign banks and corporations, and in artificially propping up the equity markets by producing cheap money so companies could buy back their stocks.
The Fed has gotten away with keeping a dead patient on life support for the past eight years solely because the U.S. has held the position as the only gatekeeper for the world’s reserve currency. But even as this has slowly been slipping away from central bank control since 2013, the ability of the Fed to do as they see fit has been eroding at an ever quicker pace. And now in 2017 they appear to know that the writing is on the wall, and are more than likely going to jump ship en masse than to wait around for the pitchforks they know are coming now that the curtain has been lifted on their sorcery.