POOR RICHARDS REPORT
Chapter 9
Revitalize the Old
There was a gala Halloween Party given at the Plaza in NYC. It was An extravaganza party. Only billionaires were invited by their bankers. As an inside Joke they had to come dressed a politician.
Then the music stopped when the blaring of trumpets sent an eerie chill in the ballroom.
There at the top of the platform was Janet Yellen the currant Fed Chair of the Federal Reserve dressed as Paul Volcker the Former Chairman of the Federal Reserve; her six foot tall frame stood glaring over the crowd as she puffed on her cigar.
The Republicans had just won the US Senate and increased their majority in the House. The Congress was now veto proof. It takes a 2/3rds vote to remove the Federal Reserve chair.
So the music stopped and there were no chairs and their costumes turned to dust.
President Obama did not have the power of persuasion anymore and the unions were powerless to instruct their way upon the people. The country was going back to the people, but there was a price to be paid.
The bankers were finally losing control and the control flow of US dollars worldwide would come to a screeching halt.
The very next morning she raised margin rates to 100% .To make matters worse; she raised bank reserve requirements just 5%. This meant if a bank did not have that extra 5% held in government securities that they would have to call in enough loans to meet the requirement.
This in turn sent chills up and down the spines of market manipulators for they knew they would be the first ones called to come up with the monies because they were the most liquid accounts.
Keep in mind that we are in a new ball game, driven by computers – not men with honest intent but greed and power.
The savings Bank industry is whimpering at the feet of an over bloated government and has been forced to hold cash or risk investments in an uneven playing field. Go to for the latest information on really bad days. The bottom line from my humble point of view is that they have no idea how bad the market can react- since the last 45 to 55 years they have destroyed all of the safeguards.
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