Posted on 06/27/2017 11:22:33 AM PDT by HokieMom
Why does her statement make me nervous?
Because of things like this:
Barney Frank: “There is no housing bubble.”
https://www.youtube.com/watch?v=iW5qKYfqALE
“Peace in our time”
...
The Titanic is unsinkable.
I used the Google translation for the title.
Giving the Venetian banks Intesa will cost us 280 Euros each, happy?
Ruh roh.
Start?
Because it means the banks will be fine...the currency will be the problem next time out.
-Otto Von Bismarck
Because it's a BAD sign.
It's not just us worried. The DOW and the NASDAC are down 100.
Yellen is blatantly lying.
The fed can create a banking crisis anytime it wants to.
Several fed banks have gold vaults. For ex the federal bank in new york holds a lot of gold, almost all for other countries, but 1-2% of the gold is held for the us government.
My 401k is riding at 8% since January. Of course I am at 88% high risk but I’m not changing it anytime soon.
Only one Fed bank has a gold vault, the New York Fed. And as you noted, virtually all the gold is held on behalf of foreign governments and foreign NGOs. The amount of gold held there for the U.S. is also a small fraction of the gold held by the treasury in Denver, Fort Knox, and West Point.
TRANSLATION: “Run for your life!”
One very stupid woman.
Financial peace, anyway.
Works every time...
Yellen was a Federal Reserve governor back in 2007, and in a speech in Reno, Nevada back then she “brushed off concerns about a housing bubble (which was at the time spectacularly obvious in Reno.
She said then:
“While the decline in housing activity is significant and will continue for awhile longer, I think the concerns we used to hear about the possibility of a devastating collapse - one that might be big enough to cause a recession in the U.S. economy - have been largely allayed.”
[from the book “Fed Up” by Danielle DiMartino Booth, page 89]
As governor of the Federal Reserve Bank of San Francisco, the line spoken by Yellen in 2007 was similar to comments of hers demonstrating little concern (and a lot of ignorance) about the growing housing bubble, for years; though she presided over a Federal Reserve Bank whose territory included some of the hottest spots in that bubble.
Long before 2007, Yellen at eclipsed the height that the Peter Principle could ever be imagined to take anyone.
Nothing she says today should be taken as spoken by a true authority on any subject she speaks.
When you think why she felt the need to say that... kinda like when someone felt the need to say “Trust me..” — that’s when spidey senses should go into overload!
This is a very bad sign. Trouble is near!
When you KNOW a person speaking on a subject is certifiably one of the dumbest people on the subject they are speaking of, do you follow them or expect the likelihood things are the opposite of how that “authority” has spoken.
Just go to your Barnes and Noble Library and read through the book “Fed Up” by Danielle DiMartino Booth (use just the indexed pages on Yellen alone if you want to). Yellen’s ignorance is confirmed by her comments when she was a governor of the Federal Reserve at the Federal Reserve Bank of San Francisco, during the housing bubble, and (a) never saw it as a bubble of any concern, and (b) never saw it has representing any devastating risk to the banking system or the economy. She held her arrogant intellectual’s head high and spoke arrogantly against the concerns about the housing bubble, all the while her head was buried in the sands of her arrogance induced ignorance.
If she is confident now, my guess is we should really be very worried.
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