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Friday, October 18, 2013

The First Thing Yellen Should Do To Save America

There is so much to say about the United States government not defaulting.

I’d like to start with a thank you. But “How do you thank someone for taking you from crayons to perfume? It isn’t easy but I’ll try.” (That’s Lulu, from the movie “To Sir, With Love.”)

Thank you, Congress, for showing the world there’s nothing wrong with the full faith and credit of the United States and for showing the world that having full faith and credit in the United States government is a total bust.

An extension? Really? So, we go through this again in a matter of weeks? Thanks.

But let’s move on. Let’s talk about Janet Yellen – she’s far more relevant.

She’s about to become the most powerful person in the United States, or the world, for that matter.

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.


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