X marks the spot


07 May, 2016

Accountability 107 (Janet Yellen)

I have described how politicians, are eager to avoid being held to account. As are all people. However, not holding people who wield great power, to account is pure insanity.

So, let us start with the most powerful woman in the world. Currently, this is not Her Majesty. (All negative comments about the Queen will be deleted.) It should be but isn't. My next post will explain why.

No, the most powerful woman in the world has so much power, she decides the value of your life savings. She determines how much disposable income you have. She decides how much homes will cost. She decides every aspect of your financial well being. So, who holds her to account? Nobody.

Recently, she was asked a question that she did not like. The person asking it was a reporter whose sole purpose was to ask her questions that had been pre-approved. It cost him a rather well paid job in Washington D.C. I hope you are beginning to appreciate the seriousness of the difficulties the world is charging in to?

The woman is Janet Yellen. Her job is to maintain our belief in her pretend money called the U.S. dollar. Each currency has its own Central a banker who performs the same function. Extending belief in the current financial system until they cannot.

America, Land of the Free, is generally said to be five years in front of the UK. Let us hope so.

The moral of the story is, financial journalists do not hold Central Bankers to account. Don't expect political journalists to ask awkward questions either. Journalists need a continuous supply of pretend money, as do we all.

Pretend money is a topic for another day too.

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