He has not only been feted recently by White House advisors. He is all the rage at the Council on Foreign Relations, the International Monetary Fund, and the United Nations as well.
What is Janet Yellen, new Fed chairman, really worried about?
It won’t happen tomorrow but slowly but surely the world is moving from dollars. The petrodollar system which has been key to the world economy over the last 40 years is eroding. More and more country to country deals are being done in currencies other than the dollar. The economic world as we have known it, after Bretton Woods in the Cold War Era, the post Cold War era, and the post 9-11 era is fundamentally shifting. The dollar is not what it once was. It is no longer “almighty” and one should be prepared.
Nomi Prins is a very interesting and talented financial journalist and attached is a great in-depth interview with her on Democracy Now. She discusses her new book All the President’s Bankers.
In the book she explores the relationship between the banking establishment and the American presidency. It probably won’t come as a shock but she finds that in many respects Wall Street and Washington have long been partners, and particularly since the establishment of the Federal Reserve in 1913.
This is your “recovery” folks. Inspires confidence doesn’t it?
Chapter 29 of Hunter Lewis’s new book.
As Part One of this article revealed, some of the games being played behind closed doors by the Fed are legal and some illegal, but all of them are troubling.