Is Pamela Yellen related to Janet Yellen?

People often confuse me – Pamela Yellen – with Janet Yellen, the former chairman of the Federal Reserve.

I can understand the confusion – we share the same relatively rare last name (“Yellen”), we’re both women in finance (a male-dominated field), and we’re only six years apart in age. But that’s where the similarities end.

Janet Yellen and Pamela Yellen

Janet Yellen is the former head of the Fed, while if I were nominated, my first course of action would be to abolish the Fed. I’ll tell you why in a moment…

Janet Yellen and Pamela Yellen

Alas, I am not hopeful about the future of the economy with Ms. Yellen or Mr. Powell at the helm.  The Fed is still printing money 24/7, forever blowing asset bubbles (and the inevitable bursts that follow), and throwing seniors and savers under the bus by keeping interest rates artificially – and dangerously – low.

Of course, if this strategy works so well, why did we experience the slowest rebound from a recession in memory (if not in history)?

There are a lot of reasons I’d abolish the Federal Reserve…

For starters, it’s not federal, nor are there any reserves. It was conceived in 1910 during a secret meeting on Jekyll Island in Georgia of seven wealthy and well-connected bankers who controlled one-fourth of the total wealth of the entire world. Its purpose was to birth a banking cartel to protect its members from competition. (A fascinating book on this topic is The Creature from Jekyll Island, by G. Edward Griffin, available here on Amazon.com.)

Comments

  1. I learned of you from Bob Serling. VERY happy I did. Your ideas are improving my life exponentially. I have been talking to Brad in Utah at your suggestion. I strongly urge everyone to learn all they can about banking on their own.

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