Citi Is Worried About the Political Winds Blowing Against Yellen … A premature exit? … Citigroup Inc. on Tuesday posed an unspeakable question: will a political storm sweep Federal Reserve Chair Janet Yellen after the election that will force her to quit before her term ends in February 2018? -Bloomberg
Citi claims to be worried about the demise of Janet Yellen as Fed head but actually its top officials – the ones who report to London’s City – are more worried about the gradual unwinding of central banking itself. They wish it to take place, but they are attempting to manage it carefully from what we can tell.
We wrote yesterday here about the unwinding of the Western – and US – political system. However, we didn’t fully explain the realities of the demise of politics at the time. In fact, it is all a balancing act. Modern elites control the formal societal conversation and the Internet has corroded their control – both politically and economically.
They have taken steps to address their loss of control by centralizing Internet facilities via Facebook, Google, etc. and by expanding economic chaos and war worldwide. But in the meantime, they continue to struggle.
Ideally, elite programs would be proactive, not reactive. They would be moving on their own terms and using their own timing.
It is true that elites intend to tear down current sociopolitical and economic structures on the way to creating world government. But that doesn’t mean they want the credibility of their memes to be rendered dysfunctional. Or at the very least they want to be in control of the process, which they seemingly are not now, not entirely.
And thus they worry.
They worry about the independence of the Federal Reserve and of Yellen, or at least give the appearance of doing so.
They worry about Brexit and Trump or at least give the appearance of doing so.
Now one can make the argument, and we have, that larger memes are at work. By passing Brexit and perhaps electing Trump, elites will be burnishing a new and important meme: Populism versus Globalism. We’ve written about this in numerous articles.
The idea is that “populism” gives technocratic globalism an antithesis that will yield eventually a synthesis. That’s how the elite dialogue works after all. The desired result (globalism) needs an opposite, operative narrative to react against.
But creating such narratives, if that is what’s taking place, is often fraught with risks. Narratives are not perfectly controllable and in this Internet Era, they can become dangerous to the powers-that-be.