Janet Yellen’s Congressional Testimony – Review – Podcast 11.15.13

Janet Yellen’s Congressional Testimony November 2013

JM Bullion

The Fed Never Has to Say “Sorry”

Recap of Janet Yellen’s Testimony

Podcast Summary:

Discussion of Janet Yellen’s Testimony
How a Yellen Fed would impact QE, home prices, stock prices, tapering, money printing, Fed credibility vs. Obama credibility

Discussion of the efficacy, structure and self-dealing of the Fed and QE; Andrew Huszar‘s Wall Street Journal Op Ed piece; employment and the Wizard of Oz

Discussion of the banking system in the U.S.; credit unions and choice limitation; negative interest rates impact on savings, fractional reserve banking

Discussion of limitations on bank deposits over $10K and IRS confiscation; FDIC; Money in the Bank vs Good as Gold; the role of central banks and monetizing debt and buying mortgage backed securities by printing currency

Discussion of what is a bubble; Yellen’s views on real estate and stock bubbles; QE’s role in creating bubbles

Discussion of the dollar as the world’s reserve currency and how long will it continue. Will it end with a bang or gradually? Discussion of interest rates; wealth creation and wealth distribution; the direction of the housing recovery;discussion of the length of QE (five years!);kicking the can out of the stadium; the boiled frog syndrome.

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Further Reading:

Janet Yellin and the Precious Printing Press
Janet Yellen and Negative Interest Rates

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