Yellen's legacy at the U.S. Treasury is a disturbing one. In essence, Yellen created a fiscal time bomb with her policies that could blow up in America's face, especially now with the contentious presidential transition from Joe Biden to Donald Trump.
"Americans put Trump in office largely over his handling of the economy during his first term – job growth and wages that kept pace with a low inflation rate," writes Charles Gasparino for the New York Post.
"Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Yellen gave the country just the opposite. Her boss paid the price politically as the American people paid the price economically."
(Related: Remember last fall when Yellen claimed that the United States can "absolutely" afford another war – all they have to do is fire up the money printing presses!)
Yellen's scandals
While many are excited that Yellen is finally leaving, she is leaving behind a nightmare for the next administration.
House Oversight Committee Chairman James Comer (R-Ky.) and New York GOP Rep. Nick Langworthy wrote a letter to Yellen requesting all Suspicious Activity Reports (SARs) generated since Jan. 1, 2023, that involve the political action committee ActBlue.
Suspicious activities that get reported, by the way, include "money laundering, counterfeit credit / debit card, credit card or debit card fraud, false statements, wire transfer fraud, or identity theft," according to Comer, Langworthy, and 22 other Republicans on the panel who are demanding answers.
"Federal law prohibits contributions in the name of another person, and for good reason," Comer said to Yellen.
"The Committee is concerned that failure to properly vet contributions made through online platforms may have allowed bad actors to more easily commit fraud to illegally exploit and violate federal campaign finance laws."
ActBlue has already been getting probed by Republicans in GOP-controlled states for accepting large amounts of cash from donors who have no idea that they are even donating because someone else is doing it in their name illegally.
"In Virginia, reports of contribution activity facilitated through the ActBlue platform included 'some cases in which single donors made tens of thousands of separate donations worth hundreds of thousands of dollars,'" Comer said.
The Republican attorneys general of Missouri, Texas and Wyoming are also probing these "dummy" accounts to get to the bottom of who is behind them.
In some cases, foreign nationals were making contributions to ActBlue from overseas by sending gift cards and prepaid debit cards that are untraceable. Doing this violates federal law.
"Following widespread allegations of fraudulent donations being reported to the FEC by ActBlue, one of the largest fundraising platforms in the country, this emergency rule-making is necessary to reassure the American people that ActBlue is taking the necessary steps to protect its donors," wrote Rep. Bryan Steil (R-Wisc.), chair of the House Administration Committee, in a letter to the Federal Election Commission (FEC) requesting changes to the rules that would close these loopholes.
"These issues present a serious loophole to the transparency and integrity of the campaign donation process, and an emergency rulemaking is required to rectify these issues."
In short, Biden will leave office with soaring deficits and debt, and interest payments that can only be made by issuing more debt-based currency. And unless the usury-based unelected bankers like Yellen are fully expelled from government, things will only get progressively worse.
The economy under the private Federal Reserve is a corrupt Ponzi scheme. Learn more at Collapse.news.
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