Busted: Bankers and The Global Economy

November 21, 2008

Increasing Influence of Central Bankers Shows

reeling in the converts

reeling in the converts

With the unprecedented possibility of being ordained into the Obama Cabinet as Secretary of Treasury, Timothy Geithner as President of the Federal Reserve Bank of New York also brings additional youth to one of the youngest administrations in recent history. Bringing Geithner into the fold not only shows the Obama administration’s commitment to the economy, but the rising influence and political power that the quasi-government body of central bankers wield in the U.S. economy. His “fresh face” remains an increasing endorsement for change that propels the Barack Obama administration. The reality is that central bankers are wielding their power like never before as they are brought into the fold of government to secure their great investment in America.

The decision to esconse Geithner would also garner allies among the Republicans, a move that Barack Obama seems inclined to make considering the other choices that he has on the nominee table. Geithner’s nomination would be more than a political move, but rather a mutual vote of confidence in the U.S. power structure where central banking influence and cash flow is concerned. Central bankers make copious amounts of cash from their prize cow, the U.S. federal government and taxpayer while plowing all kinds of effort into securing their position among the stars of authority. Central bankers may have finally hit the big time, both in influence and popularity. ~ E. Manning

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