Fed’s Yellen again signals her commitment to inflating US currency

Janet Yellen

There are hearings being held today for Janet Yellen to be the first woman to become the Chairman of the US Federal Reserve:

November 14, 2013

On Thursday, as President Obama’s choice to be the next chief of the powerful central bank, Yellen’s experience is likely to be much different.

Her confirmation hearing before the Senate Banking Committee comes as the Fed continues to play an outsized role in the U.S. economy. The central bank’s balance sheet has more than quadrupled to nearly $4 trillion since 2008 amid unprecedented and controversial efforts to stimulate growth…

Whenever any Fed official talks these days, people listen for any hint of when the central bank will start tapering its $85 billion in monthly bond purchases, the latest round of so-called quantitative easing that began in September 2012.

Yellen has been a strong supporter of the bond-buying program, so anything she says about its future will be of interest to investors.

Many Republicans have opposed the bond purchases, arguing the Fed is risking high inflation by continuing to pump money into the economy, so they are likely to push Yellen on how much longer the program will continue…

With an unemployment rate that at 7.3% “is still too high” and inflation running below the Fed’s long-term goal of 2%, the Fed was justified in continuing to use monetary policy actions to boost growth, Yellen said.

“A strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases,” Yellen said in her four-page statement. http://www.latimes.com/business/money/la-fi-mo-janet-yellen-federal-reserve-confirmation-senate-20131114,0,6803564.story#axzz2kd9259AA

Janet Yellen has served as the Vice Chair of the Federal Reserve for the past three years. Quantitative easing, which Janet Yellen supports, is form of ‘money creation’ and is also sometimes called an “asset repurchasing” program. Yet, this is mainly a sham operation that debases the value of the U.S. dollar (mainly the government prints up money electronically and the “asset” purchased is a U.S. treasury note, not a real asset like, let’s say, an oil well; yes there are also some mortgages purchased which have ties to real assets, but there are problems there as well). Calling if counterfeiting is not too far off of a description of it. Quantitative easing will help destroy the USA dollar.

So, Janet Yellen as the next Fed Chairman, is expected to continue to inflate the money supply. While there appear to be short-term benefits to this, in the long run, it will lead to disaster. One does not truly improve the economy by electronically printing up money, one improves the economy by producing more goods and services that people need and/or want, especially those that other countries need and can be exported. Another news item reported today (see US jobless see setback; trade imbalance widens unexpectedly) shows that the USA is going the wrong direction with trade.

Notice also the following:

November 13, 2013…

Yellen, is wrecking the economy, spoiling any chance for a sustainable recovery, and thereby depriving our children of an economic future.

There are reasons to listen to Yellen critics such as Senator Paul. Is it really possible for us to solve an economic crisis in 2008 caused by too much bad debt by piling on even more debt? Will all the new debt, financed by easy money Fed policies, really help us recover and pay off the old debts?

President Obama in his first budget message said: “We are moving from an era of borrow and spend to one of save and invest.” His subsequent actions certainly belied his words. He has embarked on one of the greatest borrow and spend binge in human history, a binge financed by the Fed.

It is illegal for the Fed to buy government bonds directly with its newly created money. If it did, the government would be “borrowing” from itself. But after the bonds are sold to Wall Street, the Fed buys them back, which amounts to the same thing. Through this process, the Fed has become the largest creditor to the government, larger even than Japan or China. http://www.foxnews.com/opinion/2013/11/14/what-yellen-vote-will-tell-us-about-today-republican-party/

UPDATE 12:02 pm PST. The following was added to this post as this post originally came out in the morning:

November 14, 2013

Federal Reserve chief nominee Janet Yellensaid Thursday that the economic recovery still requires support from the central bank….

Yellen also defended the Fed’s $85 billion-a-month program to buy U.S. Treasury and mortgage bonds, saying that the benefits of the purchases still outweigh the risks.

Yellen deflected questions about when the Fed would start reducing the bond purchases, a policy known as “quantitative easing.” Critics say the policy raises the risks of inflation, and Sen. Michael Crapo, R.-Idaho, pressed Yellen on when she, as Fed chief, would move to start withdrawing support.

While acknowledging the validity of such concerns, saying that “the longer this program continues, the more we will have to worry about those risks, Yellen said that there is “no set time” for reducing the pace of bond purchases. http://www.cbsnews.com/8301-505123_162-57612316/yellen-warns-against-withdrawing-fed-stimulus/

As far as dangers from the bond-purchasing and other quantitative easing programs that Janet Yellen supports, in needs to be understood that they are pledges that increase debt and inflate the money supply. Notice an end time prophecy that the Prophet Habakkuk was inspired to write thousands of years ago:

6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say,’Woe to him who increases What is not his — how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you, Because of men’s blood And the violence of the land and the city, And of all who dwell in it. ( Habakkuk 2:6-8)

Some have claimed that once she becomes Federal Reserve Chairman, Janet Yellen will be the most powerful woman in US history or currently in the world (see CNN: Fed’s Yellen to become ‘world’s most powerful woman’), this would suggest that Janet Yellen is helping fulfill the following prophecy:

As for My people, children are their oppressors, And women rule over them. O My people! Those who lead you cause you to err, And destroy the way of your paths…(Isaiah 3:12)

Note: I am not saying that if US President Obama nominated a man instead that he would necessarily do a better job. Janet Yellen is following the lead of current Fed Chairman Ben Bernanke and his policies have truly set the stage for the destruction of the USA dollar. But Janet Yellen’s views and intended practices are at least as dangerous. Her policies will help lead to hyperinflation.

Many events aligning with properly understood biblical prophecy are coming to pass that relatively few understand. And the USA is definitely on its way down and out.

Federal Reserve officials and others may wish to consider studying the following prophetically-oriented writings:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
Protestant and Church of God views of the United States in Bible Prophecy Is the USA mentioned in Bible prophecy? Some Protestants say yes, while others say no. What does the Bible really teach? Learn the truth about this. There is also a video available: Is The United States Mentioned In Bible Prophecy?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? Here is a link to a video titled: The Future King of the North.
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Just What Do You Mean the Kingdom of God? A booklet that was written by Herbert Armstrong answers questions about the Kingdom.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.