“Many believe Janet Yellen, the Fed’s current vice chairman, is the best option because she’s been involved in all major recent monetary policies.  But I won’t be taken aback if Obama picks Summers. He’s perfectly qualified for the job.  If you have a terrible track record of predicting the economy and like to favor big banks at the expense of everyone else, then you’ve got a good shot at becoming the Fed chief.  Because that’s precisely what the Fed does. It punishes savers and helps make bankers rich. And it fails to predict all major economic developments. That’s why Obama is considering Summers.”

http://sovereign-investor.com/2013/07/29/obamas-next-big-blunder/

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