2014-12-03

Fed Policy Gives The Impression That The Central Bank Loathes The American Worker

Vatic Note:   The reason it gives that impression is because its true.  At least according to this article.  I have a masters in finance with a minor in macroeconomics and one thing this author forgot to mention in his recitation of each of the fed chairmen, was the fact that Greenspan, shortly after his release as chair of the Fed, was "knighted by the Queen of England", who clearly stated it was for his work on the global economy, that he did for the Bank of England.  That is short hand for "Rothschild".   If everyone remembers correctly, he had doggone near crashed the global economy and that made Rothschild wealthy and happy.  

Today we see the Rothschilds doing as they stated in the protocols that gold accumulation was their goal.  Rothschilds bank,  Goldman Sachs has the exclusive overseas brokerage house for China.  What is interesting is China invested in a 200,000 ton gold vault which is huge.  Is that where Rothschild is storing his gold?   Remember, Rothschild was selling gold to his millionaire and billionaire friends, and then holding the physical gold for them.

Also remember under Clinton,  Ft Knox has sent gold to Hong Kong for settlement and the Chinese tested the gold and found it was a base metal painted over with gold, weighting about the same as pure gold would have weight so no one would have caught it except Hong kong destroyed some bars testing it and probing and discovered the false gold within the shipment.   It was at that moment that Ron Paul then wanted an audit of the Fed and the gold in Ft. Knox and that became a huge battle.  I remember it well.  

I do not know enough about Yellen to make a comment on her, so I will just have to wait and see.   It would suprise me if she did not work for Rothschild and the Globalists.  But again, you read this below and you decide. 

Fed Policy Gives The Impression That The Central Bank Loathes The American Worker
http://www.forbes.com/sites/ralphbenko/2014/09/15/fed-policy-gives-the-impression-that-the-central-bank-loathes-the-american-worker/
By Ralph Benko,  Forbes Magazine, 9/15/2014


The Democratic Party has made “income inequality” a signature issue for the 2014 (and, presumably, 2016) election cycle.  Democrats, en masse, shout “J’accuse!” at Republicans.  There is a very different story to tell.

“Income inequality” is a crude, and twisted, heuristic for stagnant median family income.   “Income inequality” does not really resonate with voters, as noted by the Washington Post‘s own Catherine Rampell, with a mountain of evidence showing that Americans don’t begrudge the wealthy their wealth, just are frustrated at the lack of widespread economic opportunity.

So let’s get down to cases.  Stagnant median family income is not the GOP’s fault.  It’s the Fed who done it.

The Atlantic Media Company’s Quartz recently claimed that the Fed has been intentionally keeping a lid on wages.  This has potentially major political implications.  Among other things, this view would allow the Republicans to push the discourse back toward the real problem, wage stagnation.  It can serve to refocus the Congress on the real solution, restoring real, rule-based, integrity to monetary policy as a way to get America moving again.

A culpable Fed gives irony to the fact that it is the Democrats that protect the Fed as if it were the Holy of Holies of the Temple.  What if, as asserted in Quartz, the Fed, by policy, and not the GOP, is the source of wage stagnation?  This opens an opportunity for the GOP to parry the political narrative of “income inequality” and feature the real issue on the mind of the voters and forthrightly to address its core cause, poor monetary policy.

This has been slow to happen because Federal Reserve has exalted prestige. The elite media has a propensity to canonize the Chair of the Fed.   Media adulation has obscured the prime source of the stagnation besetting American wage earners for the past 43 years.

Paul Volcker’s life was exalted (with some real justification), for instance by New York Times prize-winning journalist Joseph B. Treaster as The Making of a Financial Legend.  Downhill from there…

English: Official picture of Janet Yellen from...
Official picture of Janet Yellen from FRBSF web site.  (Photo credit: Wikipedia)

Chairman Greenspan was featured on the cover of Time Magazine’s February 15, 1999 issue as the most prominent member of “The Committee To Save The World.”  One of the greatest investigative journalists of our era, Bob Woodward, wrote a deeply in-the-tank hagiography of Alan Greenspan, entitled Maestro. In retrospect, the halo the media bestowed was faux.

The Atlantic Monthly, in its February 12, 2012 issue, featured Fed Chairman Ben Bernanke on its cover as The Hero.  (Hedging its bets, The Atlantic ran a duplicate inside cover referencing him as The Villain.) Author Roger Lowenstein wrote: “Ben Bernanke saved the economy—and has navigated masterfully through the most trying of times.”

The adulation for Chairman Bernanke, in retrospect, seems overdone.  Even President Obama, at the end of Bernanke’s final term, gave him a not-so-subtle push out the door, as reported by CNN: “He’s already stayed a lot longer than he wanted, or he was supposed to….”

It’s Janet Yellen’s turn for media canonization.  This is premature.
Madame Yellen’s institutional loyalty and obvious decency command this columnist’s respect. Her intentions present as — profoundly — good.  That said, the road to a well-known, notorious, destination is said to be paved with good intentions.  Moreover, canonization demands that a miracle be proven.  None yet is in evidence.

The canonization of Madame Yellen began in earnest with an August 24 article in Politico by Michael Hirsch, The Mystery Woman Who Runs Our Economy. The process was taken up to the next level the very next day in an article by Matt Phillips in Quartz, Janet Yellen’s Fed is more revolutionary than Ben Bernanke’s ever was

Hirsch tees it up in Politico nicely:
"As has been written, Yellen is clearly passionate about the employment problem. It was no accident that the theme of this year’s Jackson Hole meeting was “labor market dynamics,” and the AFL-CIO’s chief economist, Bill Spriggs, was invited while Wall Street economists were not.

Yellen is also very cagey about whether that’s happening or not: She’s playing her own private game of chicken with inflation, indicating that she wants to see more wage growth for workers (another thing that’s hard to track ahead of time) before she raises rates. Beneath the careful analysis and the caveat-freighted sentences, the bottom line seems to be: “We’re making this up as we go along.”
Phillips, in Quartz, observes that it has been Fed policy to suppress wages for two generations.  Phillips:
"From her position as the world’s single most powerful economic voice, the chair of the US Federal Reserve, Janet Yellen, is forcing the financial markets to rethink assumptions that have dominated economic thinking for nearly 40 years. Essentially, Yellen is arguing that fast-rising wages, viewed for decades as an inflationary red flag and a reason to hike rates, should instead be welcomed, at least for now.

It might sound surprising to most people who work for a living, but for decades the most powerful people in economics have seen strong real wage growth—that is, growth above and beyond the rate of inflation—as a big problem.

Phillips then gets to the point, providing what passes for economic wisdom among the enablers of the Fed’s growth-sapping (including wage-enervating) interventions.
"Since the end of the Great Inflation, the Fed—and most of the world’s important central banks—have gone out of their way to avoid a replay of the wage-price spiral. They’ve done this by tapping on the economic brakes—raising interest rates to make borrowing more expensive and discourage companies from hiring—as wages started to show strong growth."
Phillips provides this exaltation of Janet Yellen:
"If she’s right, and American paychecks can improve without setting off an inflationary spiral, it could upend the clubby world of monetary policy, reshape financial markets, and have profound implications for everything …."
Higher real wages, without exacerbating inflation, indeed would be something to cheer.  That, demonstrably, is possible.  The devil is in the details.  There’s persuasive, even compelling, evidence that the international monetary system is better governed by, and working people benefit from, a smart rule rather than the discretion of career civil servants, however elite. 

An important Bank of England paper in 2011, Financial Stability Paper No. 13, contrasts the poor performance, since 1971, of the freelancing Fed with the precursor Bretton Woods, and with classical gold standard, rules.  This paper materially advances the proposition of exploring “a move towards an explicit rules-based framework.”

A rule-based system would represent a profound transformation of how the Fed currently does its business. House Financial Services Committee Chairman Jeb Hensarling (R-Tx) said, in a recent hearing, that “The overwhelming weight of evidence is that monetary policy is at its best in maintaining stable prices and maximum employment when it follows a clear, predictable monetary policy rule.”

Madame Yellen stated that “It would be a grave mistake for the Fed to commit to conduct monetary policy according to a mathematical rule.”  Contrast Madame Yellen’s protest with a recent speech by Paul Volcker in which he forthrightly stated: “By now I think we can agree that the absence of an official, rules-based cooperatively managed, monetary system has not been a great success.  In fact, international financial crises seem at least as frequent and more destructive in impeding economic stability and growth. … Not a pretty picture.”


Madame Yellen’s ability to achieve her (postulated) goal of rising real wages in a non-inflationary environment likely depends on who is right here, Yellen or Volcker.  It is a key issue of the day.  The threshold issue currently is framed as between “a clear, predictable monetary policy rule” and the discretion of the Federal Open Market Committee.  The available rules are not limited to mathematical ones but, to achieve real wage growth and equitable prosperity, the evidence fully supports the proposition that a rule is imperative.

Returning America to consistently higher real wage growth is a Holy Grail for this columnist.  Equitable prosperity, very much including the end of wage stagnation, is a driving objective for most advocates of a rule-based system, very much including advocates of “the golden rule.”

Getting real wages growing is a laudable, and virtuous, proposition.  Premature canonization, however, is a flattering injustice to Madame Yellen … and to the Fed itself.  The Federal Reserve is lost in a wilderness — “uncharted territory” — partly, perhaps mainly, of its own (well-intended) concoction.

The road to the declaration of sainthood requires, according to this writer’s Catholic friends, documentation of miracles.  If this writer may be permitted to play the role of advocatus diaboli for a moment … no American Economic Miracle — akin to the Ludwig Erhard’s German “Economic Miracle,” the Wirtschaftswunder, driven by currency reform — yet appears in evidence.

Expertise, which Chair Yellen certainly possesses in abundance, can lead to hubris … and hubris to disaster as it did in 2008.  Good technique is necessary but not sufficient.

As this writer elsewhere has noted,
"Journalist Edwin Hartrich tells the following story about Erhard …. In July 1948, after Erhard, on his own initiative, abolished rationing of food and ended all price controls, Clay confronted him:
Clay:  “Herr Erhard, my advisers tell me what you have done is a terrible mistake. What do you say to that?”
Erhard: “Herr General, pay no attention to them! My advisers tell me the same thing.”
Erhard, famously, proved right, his experts, wrong.

Madame Yellen by dint of her decency and intellect may yet prove capable of restoring the Great Moderation … and the real wage growth, with low inflation, that went with that.  Yet, at best, Great Moderation 2.0 would be, as was its predecessor, a temporary, rather than sustainable, solution. “Making it up as you go along” is a proposition fraught with peril.

At worst, if Madam Yellen has, as observers such as Forbes.com‘s John Tamny detect, a proclivity for cheapening the dollar as a path to real wage growth she easily could throw working people out of the frying pan and into the fires of inflation.

Moreover, the Fed’s proclivities toward central planning may be one of the most atavistic relics of a bygone era.  Central planning, by its very nature, even if well meant, always suppresses prosperity.   As the sardonic statement from the Soviet Union went, “So long as the bosses continue to pretend to pay us we will pretend to work.”

Some who should know better ignorantly, and passionately, still are stuck in William Jennings Bryan’s rhetorically stirring but intellectually vacuous 1896 declaration, “You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.”  This is a plank that won Bryan his party’s nomination and cost him the presidency… three times. The electorate knows that cheapening the money is the problem, not the solution.

The Fed, not the gold standard, pressed down the crown of thorns upon labor’s brow. The GOP, rather than playing rope-a-dope on “income inequality,” would do well to dig down to find the monetary rule with which to restore a climate of equitable prosperity and real wage growth.  Results, not intentions, are what counts.

There is abundant evidence that the right rule-based system would not be a “grave mistake” but a smart exit ramp back to growth of real wages.  Anything the Fed does that departs from a dollar price rule is anti-equitable-prosperity.

Anything else hurts all, labor and capital. The Congress, under the leadership of Chairmen Garrett (R-NJ) and Hensarling (R-Tx), whose committee has in front of it the Federal Reserve Accountability and Transparency Act and Joint Economic Committee Chairman Kevin Brady’s (R-Tx) Centennial Monetary Commission, at long last, is bestirring itself. Now is the right time to amp up the crucial debate over monetary policy … by enacting both of these pieces of legislation.


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2014-12-02

Netanyahu Fired Chuck Hagel

Vatic Note:    Anybody want to guess who runs America?  Initials start with "A", like AIPAC, and "I" for Israel and "R" for Rothschild Wall STreet Brokerage Houses.  Yes, you can include Soros,  Zbig,  and others, but they are minions who do the power elites bidding and handling of our elected and appointed officials, similar to what the khazar Zionist bankers and Israel do for the illuminati 13 bloodlines. .

If we remember correctly that when he was first named to his current position, there was a hue and cry from the Israel Supporters quarters as not being acceptable to them, but he got the position anyway.   Notice we did not invade or attack Iran.  Is that why he was fired?  

Netanyahu Fired Chuck Hagel
http://www.thetruthseeker.co.uk/?p=107478
By Julie Hirschfeld Davis, Truthseeker, November 26, 2014
 

NY Times: Top Candidates to Succeed Hagel Are Longtime National Security Specialists

President Obama, working to shift his team’s focus in confronting a raft of national security crises, is considering two former Defense Department officials as successors to Secretary of Defense Chuck Hagel, administration officials said Monday.

REBUTTAL BY


THE ANTI-NEW YORK TIMES


The resignation (forced firing) of Defense Secretary Chuck Hagel is a bad sign folks; a very bad sign. It’s not that Secretary Hagel was anything special of course; Globalist, DC Insider, member of the Council on Foreign Relations (CFR) etc; but at least he wasn’t a complete warmongering psychopath like Donald Rumsfeld or Dick Cheney.

You see, Schmuckie Hagel was more of a “soft power” Globalist, a fact which had earned him the open enmity of the Jewish neo-conservatives and the Israelis. It is clear now that a weakened “Ebola-ized”, post-election Obongo has been usurped by the more aggressive faction of America’s PRC (Predatory Ruling Class), operating within his own Party and administration.
Bibi to Chuckie: "You're Fired"!
Bibi to Chuckie: “You’re Fired”!
This fact is confirmed in this Slimes article which has already short-listed the candidates to replace Hagel: Michelle Flournoy and Ashton B. Carter. Those may sound like nice Anglo-Saxon names, and indeed these two candidates are. But they are both 100% certified kosher neo-cons that would eagerly service Bibi Satanyahu quicker than you could say ‘Monica Lewinsky’.

Ms. Flournoy is married to W. Scott Gould (Jewish?), who is very pro-Zionist as well as a contributor to Israel’s advocacy group, the Brookings Institution. 
In 2007, Ms. Flournoy co-founded the pro-Israel advocacy group, the Center for a New American Security. Described by the Los Angeles Times as “a haven for hawkish Democrats”, CNAS houses such filthy Muslim-hating warmongers as Douglas Feith, Richard Perle, Frederick Kagan (Vicki Nuland’s husband), Frank Gaffney, David Kilcullen, etc. The group is headed by retired Lt. Col. Dr. John Nagl, a Christian-Zionist.
Flournoy and her husband are anti-Iranian, anti-Russian hard-liners. Click to enlarge
Flournoy and her husband are anti-Iranian, anti-Russian hard-liners. Click to enlarge
As for Ashton B. Carter, his ‘righteous Gentile’ credentials are just as kosher as Flournoy’s.  In 1998, radical Zionist Philip D. Zelikow authored an article in 1998 in the CFR’s ‘Foreign Affairs’ magazine. In it, they laid out what changes would need to be made within the U.S. government in the wake of “catastrophic terrorism,” which is also the title of the article. The ”Catastrophic Terrorism” article begins with the strange subtitle ‘Imagining the Transforming Event’, and advocates a transformation of the U.S. government and the way Americans live.
Ashton B Carter
Ashton B Carter

Just like the PNAC document, Carter and Zelikow predicted the coming Catastrophic Terrorism" and a "Transforming event" 3 years in advance of 9/11
Just like the PNAC document, Carter and Zelikow predicted the coming Catastrophic Terrorism” and a “Transforming event” 3 years in advance of 9/11
So there you have it. Two of the many high levels co-conspirators behind the 9-11 attacks and the never-ending ‘War on Terror’ are the main candidates to replace the somewhat dovish Chuck Hagel. Joining one of these lucky demonic creatures in DC’s coming march to World War III will be the soon-to-be boss of the Senate, John ‘psycho’ McCain, and his equally deranged sidekick of dubious sexual orientation, Lindsey Graham. Bibi Satanyahu is loving this!

In the final analysis, we expect that Ms. Flournoy will get the nod. In fact, we suspect that it has already been determined. After all, isn’t it time that we break the ‘glass ceiling’ and name the first female Defense Secretary? (Barf)
Netanyahu appearing before the UN General Assembly in 2012 to warn of the threat posed by Iran. Click to enlarge
Netanyahu appearing before the UN General Assembly in 2012 to warn of the threat posed by Iran. Click to enlarge

I always get my way!! Click to enlarge
I always get my way!! Click to enlarge
Source
 

The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.

WOW! Scientists Discover ‘Invisible Shield’ Around Earth, Baffled At How It Formed!

Vatic Note:   Again, I am not a scientist, rather a hobbyist in soft physics, so I will have to leave the analysis on the validity of this to the experts.  I intend to research this and see if the science is peer reviewed and if it is and they come to the same conclusions, then I will publish that fact as an update.  For now, you will have to read and listen to the video and decide for yourself.  If true, this simply increases the mystery of our creation both planet wise and human wise. 

WOW! Scientists Discover ‘Invisible Shield’ Around Earth, Baffled At How It Formed!
http://beforeitsnews.com/space/2014/11/wow-scientists-discover-invisible-shield-around-earth-baffled-at-how-it-formed-2485718.html
By Jay Will,   Before It's News,  November 27, 2014

From JayWill’s alternative surveillance resource network, you are about to view a true story, recorded recently, documenting facts of the Discovery of an ‘Invisible Shield’ Around Earth.

This story is both dedicated to the faithful and presented to the falsehearted to encourage their research of truth and current events in the world in which we live today.

From the city of Gainesville Florida, Live in the heart of gator country, near the Gulf of Mexico, 50 miles west of the Atlantic Ocean, Good evening, Good morning, wherever you may be, across the USA or around the globe, Today is Thursday, November 27, 2014 and the time is 7:53am est.,  I’m JayWill and Welcome! Lots going on so let us begin.

Coming directly from the DAHBOO77 youtube channel. DAHBOO77 presents the evidence of the Discovery of an ‘Invisible Shield’ Around Earth . DAHBOO77 states “Scientists have discovered something truly remarkable in the Earth’s atmosphere. An invisible shield is located approximately 7,200 miles above Earth that scientists are likening to “force fields on Star Trek.”

According to Front Line Desk, the shield was discovered in the Van Allen radiation belts, two doughnut-shaped rings above Earth that are filled with high-energy electrons and protons. Held in place by Earth’s magnetic field, the Van Allen radiation belts swell and shrink in response to incoming energy disturbances from the sun. The Van Allen radiation belts were first discovered back in 1958. However, scientists only discovered two belts, an inner and outer belt extending up to 25,000 miles above Earth’s surface.”


This is all quite understandable. Picture the lines of force you see with iron filings on paper on bar magnet. Ripples in water. They tend to have peaks and dips that seperate each other. They are likely only in our sun orbit plane. Around our equator where earth’s spinning fields seperate most. The spinning earth and fields pull particles in the same direction. Those that have or gain orbital equilibrium, stay for long time like satellites. The rest get pulled down eventually by earth gravity. 





The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.

Isreali Controlled US Doesn't Want to Stop ISIL - Only Exploit them for Other Means: US Airstrikes Against ISIL not Meant to Destroy ISIL

Vatic Note: As we have said many times,  THIS IS NOT A FAST FOOD TITTILATING HEADLINES SITE, this is intended as a deep educational site so we undestand exactly what is going on in the Middle East and why.  So, this is a long read because it is chock full of serious information that will help us to understand who, what and why.  This fits with the new article I found that explains why Saudi Arabia is an ally of Israel.  (Blog coming on that tomorrow). Its how they intend to get us Christians, that they hate to fight and kill Muslims, whom the Khazars also hate, and hope we kill each other off and leave the zionists standing. 

The Saudi relationship with Israel is because their leaders are Jewish (Khazars) as we have been saying all along.  Remember, it was the British who set up the Middle East after WW I and put the family leaders in place, so it makes perfect sense they would use Khazars as the royalty of the middle east, since the royal family are all khazars themselves, except for Kate who is a real Jewish person, and not a khazar, and its why the Saudi's, Bahrainians etc,  are allies with Israel, as was intended when they were set up. Then WW II had to happen to set up Israel in their midst.  The British again were involved in that little venture.

Notice a pattern here?  First we had al Qaeda, eventually got outted as a false flag group created, funded and trained by a western alliance and they were created to prevent Russia from taking over Afghanistan, or so they "said".  So then came hamas, and once we found out that Mossad created Hamas, that immediately dropped out of the press, but magically ISIS showed up.

Then we found a website for ISIS and it proved they were a mercenary company hiring out for contract work and a map on their site showed they were in the middle east.  Once that broke, then mention of ISIS dropped off the radar and ISIL shows up.  Who knows who created them and are using them for what purpose.  Probably the same reason for all the other false flags,  to start WW III or take out guns or both.

This article below equates ISIL with Al Qaeda as partners and co-rebels, but in fact, EVERYONE KNOWS Al Qaeda works for the CIA and MOSSAD.    


US Doesn't Want to Stop ISIL - Only Exploit them for Other Means: US Airstrikes Against ISIL not Meant to Destroy ISIL
http://www.lewrockwell.com/2014/11/no_author/the-us-doesnt-want-to-destroy-isis/