A Bankster Menace Returns
Hello and Happy New Year to you, my fellow RB’ers! It’s time for the first instalment of many for this glorious and promising year. After much pondering over the final days of 2020, I’ve decided it’s time to amp up this disruption of the Ivory Tower narrative, which I as your host, proudly pulsate from deep within the prairieland of Canada.
OK, now with that new year catch up out of the way, let’s get down to the real reason we’re all here and it’s to stop taking all this guff from those Ivory Tower bullies.
Anyways, while much of my holiday time was spent ruminating, it doesn’t mean I wasn’t keeping my eyes and ears open. Let’s face it. The Ivory Tower never sleeps. It just keeps on producing juicy fastballs right down the middle of the plate.
The very first day of 2021 didn't disappoint with quite the juicy pitch thrown.
But first, the wind up.
By all accounts, it seems likely that a Biden/Harris administration is in the offing this very month. Let’s run with this likely assumption though, as you long time listeners know, I don’t care either way. They’re all still Ivory Tower residents.
Under said administration, “President Elect” Biden has indicated he will nominate former Fed chair of the apparently INDEPENDENT Federal Reserve, Janet Yellen, as his Secretary of the Treasury.
Ahhh, independence. It’s such a fickle thing.
Janet Yellen, former chair of the INDEPENDENT Federal Reserve, whose position was not renewed by President Donald Trump, left her post on February 3, 2018. After such a lucrative career as hers and given her over 70 years of age at the time, one would be forgiven for assuming she had sailed off into the sunset, basking in daily wine spritzers and mojitos as she cackled with glee.
Ah, but my friends, you would be wrong. Nothing is ever enough for this ilk of Banksters. Alas, that’s why I’m here, doing my thing to propagate the Bankster absurdities and excesses to the world. Maybe one day, we’ll have an impact.
Anyways, ZeroHedge graciously gave word of some of her recent adventures, most notably speaking engagements over the last two years:
“According to Yellen’s financial disclosure statement, the 74-year-old former Fed chair has raked in a whopping $7.3 million in speaking fees in just the past two years from Wall Street banks and large corporations including Citi, Goldman Sachs, Google, City National Bank, UBS, Citadel, Barclays, Credit Suisse, Salesforce. Did we mention Citadel? We did, but we should mention it again because for some odd reason the high frequency trading firm which was recently busted for frontrunning its own clients…has been Janet Yellen’s biggest customer, paying her over $800,000 for three speeches. And yes, this is the same Citadel where Yellen’s predecessor at the Fed, Ben Bernanke remains a “senior advisor”…”
That’s right. Yet another bankster forgoing the golden years of retirement after suckling at the Ivory Tower teat and instead merely repositioning herself to suckle some more at executive board rooms near you. Well, actually not near you…
Allow me to highlight some of the top single-sitting speaking fees doled out:
In early 2019, ING and PWC both rained down $225,000 each to have Ms. Yellen grace their stages.
Then, I’m sure thanks to inflation, on March 25, 2019, Credit Suisse dished out $292,500.
Not to be outdone, on October 17, 2019 Citadel also forked over $292,500 to be dazzled by Ms. Yellen’s monotonic voice.
And what about 2020? As recently as this past October, the former chair was back at Citadel, pocketing an embarrassing $337,500 over three appearances.
But get this. Oddly enough, the article also points out:
“…since March 2020, or around the time covid forced all conferences to be via zoom, Yellen has collected over $1.7 million in zoom appearances, not even “speeches”, on at least 24 occasions since March!”
Yup, cue back to that $337,500 paid by Citadel and bask in the understanding that she was paid to appear on zoom, NOT even in person!
The oddities don’t stop there. And of course not, why would they.
How about a stamp collection worth between $15,001 and $50,000? As the article so brazenly suggests, that’s more than many Americans (and Canadians, for the matter) are financially worth! Sure, closing the wealthy gap…that’s the bankster’s goal, my foot.
Then, by some miracle of miracles, Ms. Yellen’s disclosure has the following:
1. A position in Vanguard Short Term Bond Index Fund, disclosed as valued at less than $1,001, and yet with a disclosed income of $100,001-$1,000,000; and
2. A holding of Vanguard European Stock Index Fund, also disclosed as valued at less than $1,001, and yet with a disclosed income of $15,001-$50,000.
There you have. So, while we’re fed platitudes about narrowing the wealth gap, bringing forth equality and being in all this together, our esteemed banksters are, in fact, getting richer in the process.
So, I ask, when is enough…enough? For this bankster, apparently still not enough as now she’s going to dictate your life through the halls of the Treasury department, a farce in and of itself.
Knowing all of this information about her speaking engagements, does anyone believe she is not in the pockets of Wall Street and big corporations? I can see it now, her desk at the Treasury department has a phone on it, with dedicated lines for each of the beneficiaries of her speeches.
And this coming from a Democratic administration touting itself as “for the people” and “anti-Wall Street”.
As this new year kicks off, I’ll bluntly ask, when will you finally believe in what I’m saying? And if you do believe my rantings and ravings, why aren’t you yet sharing them with your circle of family and friends? Are you afraid you’ll be called out for being a lunatic?
I then ask you, who’s the nut? The one who continues to be fooled by the banksters? Or the one who sees through their game and adjusts their life accordingly?
In any case, these are merely the rantings of a Recovering Bankster. What do I know?