Dear Ms. Yellen,
Are you feeling all right?
When a confidence trick is about to be exposed, it is normal for the fraudster to feel intense uneasiness. Possibly nausea. Former Goldman/US Treasury Secretary Hank Paulson audibly, violently, and repeatedly threw up in 2008 on the verge of massive Fed-supported fractional-reserve banking fraud being exposed for all to see. And now we learn that former Goldman/Federal Reserve agent Mike Silva too had the exact same symptoms at that time confessing: “And when I realized that nobody had any idea how to respond to that, I went into the bathroom and threw up.”
I’ve been thinking about how upsetting it must be for you that widespread economic malaise still drags on years after the Fed’s massive debasement of the US dollar to the tune of more than $4 trillion. Especially when fellow members of the regime say you’re a failure. But you and your agents have done a good job confusing people about the Fed being the root cause of this malaise. And look how at ease people are with the ongoing fraud of the promissory notes that you create out of thin air and the US Treasury gladly prints up. I’ve got one in my pocket that says “Federal Reserve Note” that you promise to redeem anytime I wish with one just like it. Unbelievable.
Separately, you have convinced people that the US Federal Reserve is doing crucial work in supervising financial institutions to protect the world from “another” financial collapse. People can sleep better at night now because the Fed is watching over things. Here’s the tale about what’s happened to bank supervision since 2008:
The two largest surviving investment banks, Goldman Sachs and Morgan Stanley, had operated without the Fed’s supervision, but in the heat of the crisis their capital-markets funding dried up, and they had no choice but to convert—“at the point of a sword,” as one former Fed official put it to me—into bank holding companies to get access to the Fed’s especially favorable loans. This meant that the Fed had supervisory power over all six of the largest surviving American financial institutions: Morgan, Goldman, Chase, Citi, Bank of America, and Wells Fargo.
How gut wrenching it would be if the truth were to get out. What if people learned that it isn’t the Fed that supervises banks but banks that supervise the Fed? Sickening.
What if a Goldman/Federal Reserve agent in the spirit of Edward Snowden, for example, secretly records 46 hours of the inner workings of Goldman/Fed supervision inside Goldman Sachs headquarters in New York and lets the cat out of the bag on national public radio?
It just happened. The heroine’s name is Carmen Segarra.
Are you still feeling all right?