A note to readers: this is an old post on the archive website for Promethean PAC. It was written when we were known as LaRouche PAC, before changing our name to Promethean PAC in April 2024. You can find the latest daily news and updates on www.PrometheanAction.com. Additionally, Promethean PAC has a new website at www.PrometheanPAC.com.

On April 13th, Treasury Secretary Janet Yellen gave a speech at the Atlantic Council in Washington. In the speech, “On the Way Forward for the Global Economy,” Yellen chillingly sketched the new “globalist order” she fantasizes will emerge from the Biden Administration’s provoked war with Russia in Ukraine—while portraying herself literally as “the world.” It was a prelude to the International Monetary Fund and Group of 20  finance ministers and central bankers meetings this coming week in Washington and Indonesia, in which the globalist financier cartel hopes to further their plan for a world Green financial dictatorship.

Like everything else coming from Washington these days, Yellen’s speech itself was dangerously and grandiosely delusional. She spent most of it hailing the “cooperation” she thinks she has achieved in the financial war she is leading against Russia while threatening any nation refusing to cooperate—like some junior mafia boss.

But the hate campaign the U.S. and the British believe they have so exceptionally executed against Putin with the aim of achieving regime change, has only resulted in soaring approval ratings for Vladimir Putin in Russia. Further, the vast majority of the world’s population—living in Russia, India, China, Hungary, Eurasia, the Middle East, most of Latin America and Africa—has refused to participate in the proposed economic destruction of the Russian state. To a significant extent, the same nations have refused to cooperate with the central bankers’ Green New Deal and Great Reset, while paying lip service to decarbonization goals. At the 2021 Conference of the Parties 26 (COP 26) Glasgow conference, Russia, China, and India refused to commit the economic suicide demanded. They have not backtracked since.

Signs that even the normally docile Europeans have begun to revolt were demonstrated in the first round of the French elections, when Marine Le Pen came very close to beating Emmanuel Macron—setting off panic in Washington and London. Le Pen has said that she will pull French forces from the NATO command, like de Gaulle, and reassert French sovereignty. She has opposed flooding Ukraine with arms with which to fight a long proxy war with Russia.

Despite their stridency, Yellen’s pronunciamentos will not work. More and more people recognize that the current NATO track will result in the human sacrifice of thousands of Ukrainians, continuing commodity and asset price inflation throughout the world, and food shortages and famines. Carried to their logical conclusion, they will collapse the dollar, setting off a world-wide depression. They also bring nuclear conflagration of the human race into the realm of being a very real possibility.

The Central Bank Background to the Evil Yoda’s Threats

Many find the unbridled arrogance unveiled in Yellen’s speech to be “jaw dropping.” The Conservative Treehouse, for example, wondered out loud at Yellen’s hubris in seeming to divide up the world in some form of new Cold War arrangement while threatening extinction of those nations who refuse to decarbonize—all while serving as an unelected Washington bureaucrat. 

The speech does set out such a division—which might be best described as “NATO against everyone else.”

Clearly, their surprise does not fully appreciate Janet Yellen’s central banking background. As Vice-Chair of a satanic Federal Reserve during the first years of the Obama Administration, she was known as Ben Bernanke’s enforcer as he created the “quantitative easing” “wall of money” which bailed out the world’s megabanks on the backs of American workers and impoverished developing sector nations. During the bailout, BlackRock’s Larry Fink was contracted by Yellen’s Fed to run large chunks of the program—resulting in major growth for Fink’s asset management firm. Yellen continued these policies as Fed Chair under Obama, creating what has now become the largest financial bubble in human history.

It is the looming crash of that bubble which is determining the globalist oligarchy’s actions now, above all else. In the wake of COVID, they are moving to control the world’s raw materials, land, and physical commodities, while continuing to downsize extant nation states and populations in order to ensure the oligarchy’s survival and continuing power. Russia, with its vast mineral and other raw material reserves, is a huge prize in their calculus. They hope to loot it yet again, just like they did in the 1990s.  The name for this policy is the World Economic Forum’s “Great Reset,” in which Janet Yellen and the world’s central bankers star, while installed political officials, like the senile President of the United States, are relegated to reading scripts.

Christopher Leonard’s book, The Lords of Easy Money, documents that the Fed knew, from 2008-2009 forward, that it was looting the real economy to bail out the Wall Street/London/Brussels speculative finance axis, and that its policies would create the massive wealth disparities, disinvestment in and disintegration of the real economy, widespread poverty, and deaths of despair and pessimism, which this nation has experienced ever since. When Donald Trump refused to reappoint Yellen to the Fed, she did a Hillary Clinton, making herself filthy rich and displaying her true loyalties as she gave private speeches for huge fees to Wall Street and London bankers.

In August of 2019, at the Fed’s annual Jackson Hole confab, then Bank of England Chairman Mark Carney and Larry Fink’s BlackRock combined to propose a “regime change” in finance. They admitted that the 2008 crash of their system had failed to respond to the trillions in bailout funds they had thrown at it. Carney blamed the central bankers’ inability to sufficiently inflate the dollar as the cause of this malady. To remedy this, he called for the end of the dollar as the world’s reserve currency. Carney proposed replacing it with a virtual digital currency controlled by the central banks. He called it a “synthetic hegemonic currency” which would allow the central banks to continuously expand credit. This helicopter money would be used to continue to bail out the bubble, along with creating new rollover boondoggles such as the green finance scheme which Carney began promoting with 24 central banks in 2017. 

The other part of the “regime change” as proposed by BlackRock at Jackson Hole, was to have the Federal Reserve and other central banks take over spending policy from national governments. New currency for spending purposes would be printed as they and an unelected “committee of experts” saw fit. This scheme was put forward by veteran governors of the Fed, Bank of France, and Bank of Canada—all of whom were BlackRock employees or advisors at the time.

The Jackson Hole meeting was followed by a similar financial regime change discussion on September 22, 2019, in New York City during preparations for the United Nations’ Climate Action Summit. As 130 global banks, led by the 30 biggest, signed a compact called “Principles of Responsible Banking,” Carney decreed that the world would transition from brown to green energy and, to enforce this, the world’s central banks were lined up, along with the world’s megabanks and private financiers, rating agencies, and insurance companies, to deny credit to anyone resisting. In his words, “Firms that align their business models to the transition to a net zero(-carbon) world will be rewarded handsomely. Those that fail to adapt will cease to exist.”

At the same time, Janet Yellen and Mark Carney began working together on the implementation of this financial “regime change” by chairing the writing of a report entitled, “Mainstreaming the Transition to A Net Zero Economy” for the Group of 30. It was published in October of 2020, just ahead of America’s rigged election.

The Yellen/Carney manifesto calls for all governments to require “climate risk” disclosures for all companies operating in their countries, enabling the “financial system” to identify “climate leaders and laggards” and direct capital flows to sustainable technologies, and set punitive prices on the goods or materials produced by the “laggards.” This policy is now being implemented by Joe Biden’s Securities and Exchange Commission.

The same manifesto calls for governments to completely phase out fossil fuel subsidies and penalize, through “carbon pricing” penalties, the further production of fossil fuels. Equity will be achieved by taking some of the profits from carbon pricing to support low-income households, to supplement budget deficits caused by the COVID response, and to support development of green technologies. All public spending must be aligned with the goals of the Paris Agreement and with R&D primarily devoted to the technologies required for Net Zero. This policy is embodied in Biden’s entire Green New Deal scheme.

Further, countries leading the way in phasing out carbon should be allowed trade benefits under World Trade Organization rules, while laggards can be punished by heavily taxing their exports.

Astoundingly, (and this is what made the headlines), the public drive to Net Zero should adopt the “independent” model of the Federal Reserve and other central banks: governments must delegate their finance strategies and spending decisions to private “carbon councils.”

BlackRock “experts” dominated the Yellen/Carney report, and BlackRock has provided the key economic advisors for the Biden Administration. Yellen, obviously, is reigning supreme at Treasury. 

The Speech

Here are the key points in Yellen’s speech counterposed with the actual truth about each of her points:

Yellen: “The United States, along with over 30 countries, representing well over half the world’s economy, has imposed an unprecedented suite of financial sanctions and export controls on Russia . . . degrading its ability to prosecute this war and to project power in the years ahead . . . . To target, monitor and enforce the sanctions I convened with Attorney General Garland a novel taskforce of law enforcement and finance ministry leaders from G7 and partner countries to advance our efforts . . . . When Russia made the decision to invade Ukraine, it predestined an exit from the global financial system.”

Comment: The 30 countries consist of EU countries, New Zealand, Australia, and Great Britain, leading some to call this “the all white neo-liberal bloc.” Japan and Taiwan are also included. Germany has so far refused to commit to any immediate shutdown of Russian oil and gas imports, and the types of sanctions across the EU vary widely. The “suite of sanctions” was fully prepared all the way back in November, 2021, and has been under discussion ever since a 2019 Rand Corporation study, “Overextending and Unbalancing Russia.” That study situated “providing lethal arms to Ukraine” as Russia’s deepest security vulnerability, and a complete regime of sanctions against Russian exports as the most successful strategy for crippling the Russian state. Add to that the fact that the U.S. and Britain provoked this conflict, and you begin to get the actual picture.

Further, Joe Biden has been an enthusiast for the present war dating all the way back to speeches at the Atlantic Council in 2014.

Yellen’s “novel” enforcement task force is primarily tasked with making sure the U.S. keeps all the assets it has seized from Russia, as announced by National Security Advisor Jake Sullivan last week. This is an act of outright piracy nowhere countenanced in international law. Using the world’s reserve currency as a weapon of war could very well destroy the dollar—as Mark Carney and other fools wish. But that, in turn, will only create a world depression.

Yellen: “Russia leaders knew that we would impose severe sanctions even if they underestimated the breadth, depth, and coordination of the actions the United States and its allies would take. We are now seeing higher commodity prices that have added to global inflationary pressures and are posing threats to energy and food security, trade flows, and external balances across many countries . . . with over 275 million people facing acute food insecurity, I am deeply concerned about the impact of Russia’s war on food prices and supply particularly on poor populations . . . .”  (In essence, Putin did this, not us.)

Comment: Like the Fed in the bailout, Yellen and her central banking colleagues knew what would happen if they provoked a war in Ukraine and imposed the “suite of sanctions” which have been imposed, on top of the inflation already raging from the Fed’s money printing, the COVID recovery measures, and the war on energy being conducted under the auspices of the Green New Deal. As Energy Secretary Jennifer Granholm put it, the entire aim is to change popular behaviors, phasing out all modes of gas and oil consumption. Conditioning the population to accept the severe austerity regime and surveillance state necessary to continue the present oligarchy in power is right now the name of the game—a game which escalated to war when the American people, together with Russia, China, and India, refused to back the Great Reset and Green New Deal.

Yellen: “Let me now say a few words to those countries who are currently sitting on the fence . . . . The future of our international order, both for peaceful security and economic prosperity is at stake . . . . And, let’s be clear, the unified coalition of sanctioning countries will not be indifferent to actions that undermine the sanctions we’ve put in place . . . . China cannot expect the global community to respect its appeals to the principles of sovereignty and territorial integrity in the future, if it does not respect these principles now when it counts. . . . Going forward, it will be increasingly difficult to separate economic issues from broader considerations of national interest, including national security. The world’s attitude towards China and its willingness to embrace further economic integration may well be affected by China’s reaction to our call for resolute action on Russia.”

Comment: To anyone not going along—you’re next.

Yellen: “We need to modernize the multilateral approach we have used to build trade integration. Our objective should be to achieve free but secure trade. We cannot allow countries to use their market position in key raw materials, technologies, or products to have the power to disrupt our economy or exercise unwanted geopolitical leverage. Let’s build on and deepen economic integration and the efficiencies it brings . . . and let’s do it with the countries we know we can count on. Favoring the ‘friend-shoring’ of supply chains to a large number of trusted countries, so we can continue to securely extend market access, will lower the risk to our economy as well as our trusted trade partners.”

Comment: We have no intention of reindustrializing the United States. In fact, we know our policies are destroying that potential forever.  We intend a new colonial regime in which subject countries who agree with us provide our products. This is called “friend-shoring” rather than “off-shoring.”

The rest of Yellen’s speech is devoted to the simple fact that the globalists have utterly failed to mobilize the vast developing sector of the world behind their bailout, austerity, and population-killing climate boondoggle. Their proposed new colonialism requires that at least some of these countries drink the Kool-Aid. So, she admits the obvious: that the 2008-2009 financial crash inflicted “permanent damage” which the IMF”s longstanding austerity regimes only worsened. She vows an “equitable” revamp, soliciting private capital to build infrastructure and “sustainable” (actually primitive) development, while buttressing the world health infrastructure against future pandemics. In reality, this is the “allied” response to China’s infrastructure and other development initiatives—a response the present allies have neither the intention nor the physical economic capacity to make.

There is a solution to this madness. It consists of ending this lunatic war right now.  It consists of abolishing the Federal Reserve and all U.S. government ties to the globalist financial oligarchy, and establishing a Third National Bank of the United States to fund an industrial and scientific renaissance here. It involves our military targeting the terrorist organizations which are the drug cartels, rather than duly elected “autocrats.” It involves rescuing the future for our children—supporting population growth and stable families while educating our children in the profound ideas of classical culture and the scientific traditions which flow from and provoke our uniquely human creativity. It involves winning the 2022 and 2024 elections with these imperatives in the forefront.