From Peter Reagan at Birch Gold Group
Janet Yellen, the current Secretary of the Treasury and former head of the Federal Reserve (2014-2018), assured us in 2017 there wouldn’t be another financial crisis during our lifetimes.
Maybe that was just wishful thinking. I can forgive her for failing to predict the 2020 coronavirus pandemic panic, the Federal Reserve’s multi-trillion-dollar money-printing stimulus spree (and the subsequent 2nd, 3rd and 4th largest bank collapses in U.S. history).
She downplayed inflation as it was heating up at the time. In this case, she claimed it would only be a short-lived “transitory” event. As we now know after 24 months of historic inflation, she was obviously way off base. I’ll give her credit for admitting she was wrong – eventually...
Well, everybody makes mistakes.
Which brings us to the present day.
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