On January 19th, as reported by Reuters, Janet Yellen explained her vision for a more ‘muscular’ and aggressive Treasury to reduce economic inequality, fight climate change and counter China’s unfair trade and subsidy practices.
She told the Senate Finance Committee that taxes will have to be raised on the corporations and wealthy in order to finance President Biden’s proposal to rebuild infrastructure, research and development, worker training to improve America’s competitiveness.
Yellen said that she will seek to help Americans endure the final months of the pandemic as the population is vaccinated, and help rebuild the economy.
Without further action we risk a longer, more painful recession now and longer-term scarring of the economy later.
What she refers to as ‘pandemic relief,’ will take higher priority than tax increases, but stated the corporations and wealthy will need to “pay their fair share.”
Yellen also stirred up some concern when she advocated the possibility of taxing unrealized capital gains, in a “market-to-market” mechanism – along with other ways to boost revenues.
More Money Printing
Yellen then began to explain that the dollar should be determined by the markets.
The United States does not seek a weaker currency to gain competitive advantage and we should oppose attempts by other countries to do so.
This statement is contradictive to former President Trump, who openly advocated for a weaker American dollar.
As your President, one would think that I would be thrilled with our very strong dollar. I am not! The Fed’s high interest rate level, in comparison to other countries, is keeping the dollar high, making it more difficult for our great manufacturers like Caterpillar, Boeing, John Deere, our car companies, & others, to compete on a level playing field. With substantial Fed Cuts (there is no inflation) and no quantitative tightening, the dollar will make it possible for our companies to win against any competition. We have the greatest companies in the world, there is nobody even close, but unfortunately the same cannot be said about our Federal Reserve. They have called it wrong at every step of the way, and we are still winning. Can you imagine what would happen if they actually called it right?
President Donald Trump. August 8, 2019
Stocks rose at the news of Yellen advocating more stimulus and money printing.
Neither the president-elect, nor I, propose this relief package without an appreciation for the country’s debt burden. But right now, with interest rates at historic lows, the smartest thing we can do is act big.
Reuters’ report also states that Yellen calls the supposed climate crisis an “existential threat.” She said she will elect a senior official to oversee these climate issues.
She also said investments should be made into cleaner technologies and electric vehicles to cut carbon emissions.
AUTHOR COMMENTARY
A wicked doer giveth heed to false lips; and a liar giveth ear to a naughty tongue.
Proverbs 17:4
I hate and abhor lying: but thy law do I love.
Psalm 119:163
There is an old saying, “You can’t con a man unless he is crooked.” That is what Proverbs 17:4 is essentially saying.
Yellen is a brazen liar! And if you believe that nonsense, then you are just as perverse as her. Period.
It’s quite simple: the more money that is printed out of thin air, the more the currency weakens, loses value, and inflates. To try and pretend that her philosophy is any better or different than President Trump’s asinine logic is simply a lie; but only a fool would regard the logic of Yellen, Biden, Trump, or any politician, economist, banker, and mainstream media reporters and analysts. Seriously, I’d like someone out there who still holds onto the Trump delusion to please explain to me how a ‘too strong’ of a dollar is bad for the country.
People like Yellen are just packaging this unpayable debt as “stimulus” and “relief,” but it is still debt that will further inflate the U.S. dollar. Sure, the economy will see small temporary boosts, because of these endless “stimulus” checks and bailouts, the drunkenness and buzz of this “wine-money” will keep people deluded for a little longer.
A feast is made for laughter, and wine maketh merry: but money answereth all things.
Ecclesiastes 10:19
The WinePress has reported plenty of times already that Covid-19 is a front for the liars like Yellen and her buddy Jerome Powell (the current chair of the Federal Reserve), and all the other world bankers, to crash the economies so they can completely control it all and implement their new digital dollars and currencies.
The rich ruleth over the poor, and the borrower is servant to the lender.
Proverbs 22:7
I also love the mass confusion on the narrative on their covid propaganda. One minute it will never end (says Moderna), then Yellen I guess knows something we don’t and it will just go “poof” and everyone gets vaccinated. Then Biden just the other day Biden makes it out to be that Covid-19 cannot be brought under control at the moment.
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