"The Terminator" Explains Janet Yellen's Confirmation To The Middle Class

Irony: The woman who is set to become one of the most powerful people in the world begins her confirmation hearing today. And few people have ever even heard of her.

It must be a byproduct of the government-controlled education system; people still think they live in a free country with a representative democracy. It’s anything but.

Voting, elections, etc. are all just illusions to make people think that they have some influence in society.

A tiny elite orchestrates the whole system. And one of the most influential conductors is the Chairman of the Federal Reserve, a post about to be taken over by Janet Yellen.

Since most people have no idea how central banking really works, her confirmation hearing today is just a footnote.

Even people who are otherwise financially sophisticated simply trust that the men behind the curtain know what they’re doing.

This is quite strange when you consider that central bankers have nearly total control over the economy.

In their sole discretion, they are able to set interest rates, conjure money out of thin air, finance trillion-dollar government deficits, bail out commercial banks, etc.

And through these tools, they have the power to manipulate the prices of just about anything, from the Google stock to real estate in Thailand to turnips in Sri Lanka.

For the last several years, the US central bank has set the example for the rest of the world in aggressively using their policy tools.

Most significantly, they have unabashedly printed money in unprecedented quantities. And this has not been without consequence.

For some, the effects have been beneficial.

More