Then I put it together with another headline from today. “Senate Banking Committee Approves Yellen Nomination.” After watching the hearings the other day (something I don’t recommend for those looking for an entertaining way to pass an afternoon), this was not really surprising in itself. The Senate has always been protective of the bankers who line their campaign coffers with cash and then expect a return on their investment. The nomination now goes up for a vote in front of the entire Senate and Yellen is pretty much a shoe-in, with just one potential hiccup.
Tea party Senators Rand Paul and Ted Cruz have both spent hours on the Senate floor giving long, filibustering speeches (technically, Cruz’s may not have been a true filibuster since he had a time limit, no e-mails please). And now, for Paul in particular, here was his chance to stand up and speak critically against the Fed, uninterrupted, for days on-end (or at least until he had to pee). Specifically, Paul wanted to press the Senate into voting on the Audit the Fed bill. The House had passed this bill in 2012 with a large, bi-partisan majority (374-98). The bill has sat in the Senate and Majority leader Harry Reid has refused to put it up for a vote. Please note, when he was a younger Senator, Harry Reid pushed for exactly such a measure, but now that he’s seasoned and corrupt, he simply refuses to do the job he is elected to do.
This was Rand Paul’s chance to put this issue in front of the country, only now he won’t get that chance. “Why not?” you ask.
Well, because the “nuclear option” also covers Obama’s nomination of Janet Yellen as the Federal Reserve Chair. So, with a simple majority, she will be quickly ushered in with no debate. So let's recap:
After 200+ years of existence, a rule was changed just days before the most powerful job in the world will be filled so that the person filling that job will not have to go against any opposition. And not one financial journalist connected those dots. I did not see one mainstream article mentioning the Yellen connection. Not one.
It all reminds me of the RNC when they unseated the Maine delegates who were prepared to vote for Ron Paul. Then John Boehner did this:
...and Ron Paul was unable to speak at the convention, silencing a voice that was surely ready to speak out against the Federal Reserve.
Nobody in senior positions, be it in politics or in media, seem to want any anti-Federal Reserve rhetoric to hit the mainstream. Maybe it’s because, as Henry Ford once said, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow.”
And nobody stands up and starts waving their hands, shouting, "Hey! Wait a minute!" As George Carlin said, "Nobody seems to notice. Nobody seems to care."
It all has me wondering... perhaps the only foresight my first book didn't have is that maybe it should have been called, "The Troy Standard - And the Woman Behind the Desk."
And if you haven't been distracted from the issue enough, The Drudge Report will be happy to point you in the direction of the new Kanye West video, featuring a nearly-naked Kim Kardashian humping him on a motorcycle. I’m sorry for wasting your time.