Paraphrasing what Bill has espoused since I started reading him, governments, if they need to exist at all, should be as much "hands off" as possible. Meaning that they should not be interfering with day-to-day markets, trading, the exchange of goods, materials and service.
I would add to Bill's recommendations, that anyone who tries to run for a seat in government (like our clown of the day, Janet Yellen) or be a candidate for an appointed seat, should pass a basic competency test. One that involves knowing the history of their own country, having some form of accounting schooling like knowing the nuances of a P/L and Balance sheet and how they work together and finally understanding why each article of their own country's constitution was written the way it was, back when it was written. For major positions, like mayors, governors and presidents, I would even go one step further and require that the candidates have run a successful and honest (lol) business in their prior lives, scaling in size according to the position they were seeking.
This from CNN and Janet Yellen the other day:
**********
Calling the rapid collapse of Silicon Valley Bank a "new phenomenon," US Treasury Secretary Janet Yellen said the circumstances that led to it could very well happen again.
"The Silicon Valley Bank situation showed an overwhelmingly rapid run on a bank. We've never seen deposits flee at this rate," Yellen said Wednesday during a Senate hearing on Financial Services and General Government.
"Ma(n)y depositors were tech firms that work with venture capitalists that also bank. It's essentially shouting fire in a movie theater," she said.
"Now in the world that we live in, although this was a small community and a disproportionate share of Silicon Valley bank deposits, this kind of thing may more readily happen."
Yellen said SVB's plight could mean that stress tests on banks and some of the assumptions that go into modeling the pace at which deposits might flee banks might need to be "updated and rethought."
"This is a new phenomenon. We haven't seen this before."
**********
There have been numerous runs on American banks in it's history. Most notably would have been in 1980's and 1990's when hundreds of small savings and loans were wiped out because of exactly this "phenomenon." To have zero knowledge or understanding of this coming from someone with her position in the Federal Government, underlines what Bill has been saying all along.
So after the 2008 Shit Show the banking industry decides to recapitalize itself by raping savers and the productive class through interest rate repression. Now after 13+ years of interest rate repression we have Shit Show 2. So who's going to pay for the sequel? Ah, savers and the productive class says the apparatchiks. "Systemically Important" and 'Essential Worker' are terms cooked up by the apparatchiks to grant them the ability to arbitrarily screw whoever they please with no accountability.
What's even more disgusting is the Mindless, Statist, Government Apologist, Sheeple who willingly ingest this shit with a smile on their face. Heads they win tails you lose :-(
I wrote the piece about candidates and Janet Yellen specifically a few days ago. Attached it to Bill's missive on Argentina. Deleted it from there and put it here, as it seemed more appropriate.
After writing the piece below, I asked ChatGPT what and ideal candidate seeking public office should look like. Here is what it said.
**********
Highlight relevant experience: Political office seekers should emphasize any previous experience in public service, such as elected or appointed positions, volunteer work, or work for political campaigns or advocacy organizations. Relevant professional experience, such as in law, business, or education, may also be relevant.
Showcase leadership and management skills: Candidates should highlight any leadership or management experience they have, such as leading a team or organization, managing a budget, or implementing policies or programs.
Emphasize communication and public speaking skills: Effective communication and public speaking skills are essential for political candidates. Candidates should highlight any experience they have with public speaking, media interviews, or writing.
Highlight community involvement: Candidates should showcase their involvement in their local community, such as through volunteer work or serving on community boards or committees. This demonstrates a commitment to public service and an understanding of local issues and concerns.
Education and credentials: Candidates should list their educational background, including any advanced degrees or certifications that are relevant to the position they are seeking.
Personal qualities: Candidates should highlight their personal qualities that would make them a good candidate for political office, such as integrity, dedication, and a commitment to serving their constituents.
**********
Interesting. So I asked ChatGPT what Janet Yellen's resume looked like? That was an eye opener.
**********
Janet Yellen is an American economist and policymaker who served as the 15th Chair of the Federal Reserve from 2014 to 2018. Here is a summary of her resume:
Education:
Bachelor's degree in economics from Brown University (1967)
Ph.D. in economics from Yale University (1971)
Academic Career:
Assistant Professor of Economics at Harvard University (1971-1976)
Lecturer at the London School of Economics (1978-1980)
Professor of Economics at the University of California, Berkeley (1980-1994, 1997-2006)
Chair of the President's Council of Economic Advisers under President Bill Clinton (1997-1999)
President and Chief Executive Officer of the Federal Reserve Bank of San Francisco (2004-2010)
Government Service:
Member of the Federal Reserve Board of Governors (1994-1997)
Chair of the President's Council of Economic Advisers under President Barack Obama (2010-2013)
Chair of the Federal Reserve (2014-2018)
United States Secretary of the Treasury under President Joe Biden (2021-present)
Honors and Awards:
Fellow of the American Academy of Arts and Sciences
Honorary Doctorate of Law from Brown University
Adam Smith Award from the National Association for Business Economics
Yellen's career has been marked by a strong focus on macroeconomic policy, including monetary policy, financial regulation, and labor economics. She has been recognized as a leading expert in her field, and her contributions to economic policy have had a significant impact on the United States and the global economy.
*********
So if someone with SO much experience and apparent knowledge could not see the forest for the trees, could not see this coming, could not prognosticate what is about to happen due to their ill advised policy and decision making in the past, what can we, the serfs looking up on high for leadership through this turmoil, make of all this?
Violent revolution is almost always fatal folly, and always results in widespread, long-lasting societal animosity.
Impactful education of the middle class is currently impossible.
Voting is a joke - jet black humor. Democracy is the perversion of popularly elected government.
As far as I can see, prayerful, thoughtful Maximum Safety Mode is the only reasonable way to face our near (10-20 years) future and be part of the solution rather than part of the problem.
Long-term, we need to permanently engrave the historical and contemporary fact that the president/king/dictator is content to eat dust at the feet of the robber barons who stand erect behind the throne.
We have learned through sad experience that it is the nature and disposition of almost all humanity, as soon as they gain a little authority, as they suppose, they will immediately begin to exercise unrighteous dominion.
Don’t forget that after the last financial crisis of 2008. The Fed and The Government had to stimulate the economy. And after Covid they had to do it all over again! Failure not to stimulate would have led to a collapse of everything.
Or, maybe it wouldn’t.
Public servants chose to err on the side of caution!
And democrats chose lockdowns in order to stuff the ballot box with mail in votes!
They got elected but now can’t pay for anything except to tax/borrow more.
THAT MAKES THE POLITICIANS STUPID.
And same goes for the dumbasses who elected them!
Enjoy your stupid choices and watch your world end!
Soylent Green Is People!!!! It’s People! Aaaaahhhhh!!! 😂
Another banking financial scam sham on the way. But wait, Yellen says that the banking system is “sound”. So there, what can possible go wrong? Hahaha.
2008 Honest Ben (Bernanke) said no more big banks were going to fail, the statement was made during working hours, of course. Then after the markets closed, Feds seized Washington Mutual. 😂
What a beautiful scene that was indeed. Now we have Yellen’s assurance that everything is ok, they’ve got our backs. So keep your money in the bank, and watch it vaporize before your eyes soon, on live TV. Popcorn anyone!?! 🤣
Yes Bill, those crazy cooks in our federal reserve and government, working under the executive chefs of our banking cartel. The aroma’s created by these talented satanic artist smells like something we’ve all been forced to eat in the past 💩…does anyone smell Chinese food 🤔
It seems obvious to me that the next step in the elite/deep state/political play for managing the economic and social situation is to declare war and therefore martial law, like covid, and thereby avoid the trouble of staging the next presidential election.
All of the planned population control measures like cbdc's and killing a large number of our young (mostly) men and maybe general population would fall into place.
Food stamps and confiscated savings are also a logical consequence.
Paraphrasing what Bill has espoused since I started reading him, governments, if they need to exist at all, should be as much "hands off" as possible. Meaning that they should not be interfering with day-to-day markets, trading, the exchange of goods, materials and service.
I would add to Bill's recommendations, that anyone who tries to run for a seat in government (like our clown of the day, Janet Yellen) or be a candidate for an appointed seat, should pass a basic competency test. One that involves knowing the history of their own country, having some form of accounting schooling like knowing the nuances of a P/L and Balance sheet and how they work together and finally understanding why each article of their own country's constitution was written the way it was, back when it was written. For major positions, like mayors, governors and presidents, I would even go one step further and require that the candidates have run a successful and honest (lol) business in their prior lives, scaling in size according to the position they were seeking.
This from CNN and Janet Yellen the other day:
**********
Calling the rapid collapse of Silicon Valley Bank a "new phenomenon," US Treasury Secretary Janet Yellen said the circumstances that led to it could very well happen again.
"The Silicon Valley Bank situation showed an overwhelmingly rapid run on a bank. We've never seen deposits flee at this rate," Yellen said Wednesday during a Senate hearing on Financial Services and General Government.
"Ma(n)y depositors were tech firms that work with venture capitalists that also bank. It's essentially shouting fire in a movie theater," she said.
"Now in the world that we live in, although this was a small community and a disproportionate share of Silicon Valley bank deposits, this kind of thing may more readily happen."
Yellen said SVB's plight could mean that stress tests on banks and some of the assumptions that go into modeling the pace at which deposits might flee banks might need to be "updated and rethought."
"This is a new phenomenon. We haven't seen this before."
**********
There have been numerous runs on American banks in it's history. Most notably would have been in 1980's and 1990's when hundreds of small savings and loans were wiped out because of exactly this "phenomenon." To have zero knowledge or understanding of this coming from someone with her position in the Federal Government, underlines what Bill has been saying all along.
Clowns are indeed running the circus.
So after the 2008 Shit Show the banking industry decides to recapitalize itself by raping savers and the productive class through interest rate repression. Now after 13+ years of interest rate repression we have Shit Show 2. So who's going to pay for the sequel? Ah, savers and the productive class says the apparatchiks. "Systemically Important" and 'Essential Worker' are terms cooked up by the apparatchiks to grant them the ability to arbitrarily screw whoever they please with no accountability.
What's even more disgusting is the Mindless, Statist, Government Apologist, Sheeple who willingly ingest this shit with a smile on their face. Heads they win tails you lose :-(
I wrote the piece about candidates and Janet Yellen specifically a few days ago. Attached it to Bill's missive on Argentina. Deleted it from there and put it here, as it seemed more appropriate.
After writing the piece below, I asked ChatGPT what and ideal candidate seeking public office should look like. Here is what it said.
**********
Highlight relevant experience: Political office seekers should emphasize any previous experience in public service, such as elected or appointed positions, volunteer work, or work for political campaigns or advocacy organizations. Relevant professional experience, such as in law, business, or education, may also be relevant.
Showcase leadership and management skills: Candidates should highlight any leadership or management experience they have, such as leading a team or organization, managing a budget, or implementing policies or programs.
Emphasize communication and public speaking skills: Effective communication and public speaking skills are essential for political candidates. Candidates should highlight any experience they have with public speaking, media interviews, or writing.
Highlight community involvement: Candidates should showcase their involvement in their local community, such as through volunteer work or serving on community boards or committees. This demonstrates a commitment to public service and an understanding of local issues and concerns.
Education and credentials: Candidates should list their educational background, including any advanced degrees or certifications that are relevant to the position they are seeking.
Personal qualities: Candidates should highlight their personal qualities that would make them a good candidate for political office, such as integrity, dedication, and a commitment to serving their constituents.
**********
Interesting. So I asked ChatGPT what Janet Yellen's resume looked like? That was an eye opener.
**********
Janet Yellen is an American economist and policymaker who served as the 15th Chair of the Federal Reserve from 2014 to 2018. Here is a summary of her resume:
Education:
Bachelor's degree in economics from Brown University (1967)
Ph.D. in economics from Yale University (1971)
Academic Career:
Assistant Professor of Economics at Harvard University (1971-1976)
Lecturer at the London School of Economics (1978-1980)
Professor of Economics at the University of California, Berkeley (1980-1994, 1997-2006)
Chair of the President's Council of Economic Advisers under President Bill Clinton (1997-1999)
President and Chief Executive Officer of the Federal Reserve Bank of San Francisco (2004-2010)
Government Service:
Member of the Federal Reserve Board of Governors (1994-1997)
Chair of the President's Council of Economic Advisers under President Barack Obama (2010-2013)
Chair of the Federal Reserve (2014-2018)
United States Secretary of the Treasury under President Joe Biden (2021-present)
Honors and Awards:
Fellow of the American Academy of Arts and Sciences
Honorary Doctorate of Law from Brown University
Adam Smith Award from the National Association for Business Economics
Yellen's career has been marked by a strong focus on macroeconomic policy, including monetary policy, financial regulation, and labor economics. She has been recognized as a leading expert in her field, and her contributions to economic policy have had a significant impact on the United States and the global economy.
*********
So if someone with SO much experience and apparent knowledge could not see the forest for the trees, could not see this coming, could not prognosticate what is about to happen due to their ill advised policy and decision making in the past, what can we, the serfs looking up on high for leadership through this turmoil, make of all this?
Someone's not telling us the whole story.
So, what is to be done?
Violent revolution is almost always fatal folly, and always results in widespread, long-lasting societal animosity.
Impactful education of the middle class is currently impossible.
Voting is a joke - jet black humor. Democracy is the perversion of popularly elected government.
As far as I can see, prayerful, thoughtful Maximum Safety Mode is the only reasonable way to face our near (10-20 years) future and be part of the solution rather than part of the problem.
Long-term, we need to permanently engrave the historical and contemporary fact that the president/king/dictator is content to eat dust at the feet of the robber barons who stand erect behind the throne.
We have learned through sad experience that it is the nature and disposition of almost all humanity, as soon as they gain a little authority, as they suppose, they will immediately begin to exercise unrighteous dominion.
Don’t forget that after the last financial crisis of 2008. The Fed and The Government had to stimulate the economy. And after Covid they had to do it all over again! Failure not to stimulate would have led to a collapse of everything.
Or, maybe it wouldn’t.
Public servants chose to err on the side of caution!
And democrats chose lockdowns in order to stuff the ballot box with mail in votes!
They got elected but now can’t pay for anything except to tax/borrow more.
THAT MAKES THE POLITICIANS STUPID.
And same goes for the dumbasses who elected them!
Enjoy your stupid choices and watch your world end!
Soylent Green Is People!!!! It’s People! Aaaaahhhhh!!! 😂
Another banking financial scam sham on the way. But wait, Yellen says that the banking system is “sound”. So there, what can possible go wrong? Hahaha.
2008 Honest Ben (Bernanke) said no more big banks were going to fail, the statement was made during working hours, of course. Then after the markets closed, Feds seized Washington Mutual. 😂
What a beautiful scene that was indeed. Now we have Yellen’s assurance that everything is ok, they’ve got our backs. So keep your money in the bank, and watch it vaporize before your eyes soon, on live TV. Popcorn anyone!?! 🤣
PENNYWISE from IT. That is they.
Yes Bill, those crazy cooks in our federal reserve and government, working under the executive chefs of our banking cartel. The aroma’s created by these talented satanic artist smells like something we’ve all been forced to eat in the past 💩…does anyone smell Chinese food 🤔
When we were children our parents used to talk about the benefits of saving penny’s in ‘Piggy Banks.’
Well now, Piggy Bank circa 2023, is a whole new construct and correct definition of many.
As to their advertising etc about saving money with these Piggy’s, as a sure way of accumulating a small nest egg....
Ok kids, actually really your saving it with the government. Wink! Wink!
Righty-Ho, Figaro!
Gotta luv U Bill, your unabashed truth makes me chuckle,...always.
A general thought.
It seems obvious to me that the next step in the elite/deep state/political play for managing the economic and social situation is to declare war and therefore martial law, like covid, and thereby avoid the trouble of staging the next presidential election.
All of the planned population control measures like cbdc's and killing a large number of our young (mostly) men and maybe general population would fall into place.
Food stamps and confiscated savings are also a logical consequence.
Simple!
Bill, This is not amusing to say the least,but good to know,all the information given by you and the commenter's,thanks.