Dollar Meltdown Getting Worse? Thank The Feminazis! - Granite Grok

Dollar Meltdown Getting Worse? Thank The Feminazis!

Ben's faithful follower. Artwork by William Banzai 7
Ben’s faithful follower.
Artwork by William Banzai 7
A bit harsh, eh, Mike?

Here’s the thing. We all know that ‘Helicopter’ Ben Bernanke has an ‘accommodative’ stance toward money creation and interest rates, otherwise known as inflationary printing of dollars, AKA Stimulus or Quantitive Easing.

The two primary contenders to replace Bernanke were Larry Summers, and Janet Yellen.

Summers has been around government and finance for a long time, which would be considered by some to be a bad thing, but he has broad experience outside the Fed, and is reputed to have a somewhat restrained approach to monetary debasement (a good thing).

Yellen, on the other hand, has worked her way up through multiple posts at the Fed, and is known to favor even heavier stimulus than Bernanke (see chart below the fold).

It was well known, and somewhat surprising considering Obama’s reliance on Fed printing, that Obama preferred Summers, who had been a trusted advisor during his first term, thus Obama had both promoted and defended Summers when the opening salvos from the Feminazis began back in July.    

What was Summers’ crime? While president of Harvard, without any animus, he happened to mention that women were not as well represented in the upper echelons of science due to variability in mathematical abilities. He did not denigrate women, but rather implied that they might be better than men at some subjects and not others.

The Feminazis went nuts, and the faculty drummed Summers out of Harvard, but one victory was not their aim – they want to keep him from public office forever. As soon as his name came up as favorite for the Fed, the (ahem) ‘dogs’ of war were unleashed, and enough senators were persuaded to oppose his nomination that he was forced to withdraw, with ‘Lie-Awatha’ Warren leading the charge against Summers as if it were a personal vendetta, as indeed, it was.

There are hawks, there are doves, and there are 'crank up the presses and damn the torpedoes' doves: guess which flavor Yellen is? Chart: Credit Suisse, H/T Zerohedge.com
There are hawks, there are doves, and there are ‘crank up the presses and damn the torpedoes’ doves: guess which flavor Yellen is?
Chart: Credit Suisse, H/T Zerohedge.com
So, the feminists are happy, a woman is likely to head the Fed, Yellen is smart, and apparently less confrontational than Summers….. What could possibly go wrong? Take a close look at that chart – not only do doves (easy money types) outnumber hawks (strong dollar types), but Yellen is one notch further into full speed printing than even Bernanke! (Click to expand chart)

Obama won’t stop spending, the Fed won’t stop buying up his debt, and sooner or later, we’ll be pushing on a string as the world disowns dollars. Meanwhile, the crony capitalists who have the inside track to the dollar creation are doing fine, as the rest of us watch our purchasing power shrink faster and faster. These ARE high crimes and misdemeanors, and we need to hold our elected representatives responsible.

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