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Tuesday, March 2, 2021

Janet Yellen Confirmed As US Treasury Secretary

Janet Yellen has been confirmed as the next Treasury secretary, after a simple majority of senators voted to confirm her. She is the first US Treasury secretary and is the former Fed chair, which is appropriate in a time when the Fed and Treasury are now inexorably linked as part of helicopter money which requires the constant cooperation of the debt printing and debt monetizing branches of universal basic income enabling government, which is where we find ourselves right now (yes, it’s a joke).

In addition to attempting to taper the biggest ponzi scheme in history by hiking interest rates during her tenure – a process which ended catastrophically in 2018, Janet Yellen is best known for her June 2017 comment: “I Don’t See a Financial Crisis Occurring In Our Lifetimes.” Two and a half years later, the world suffered the biggest financial crisis since the Great Depression. Which of course was great news for all those who saw through her lies and stacked up on non-printable assets such as this one…

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… which is currently the best investment of the 21st century.

With her ascent to the Treasury Secretary post, which is also the top regulator of all US banks and financial companies, spending on Yellen speeches in the 2018-2020 period has just become the best return on investment for the dozens of firms (and especially Citadel) which paid Yellen $7.3 million in the past two years, and to whom the new Treasury Secretary now owes a “favor.”

And while these firms can expect preferential treatment during the next crisis, everyone else gets a souvenir too: dollar bills bearing Yellen’s signature.

 

Zerohedge

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