Perhaps it’s a mere coincidence, but in 2017, four out of five regional Federal Reserve Bank presidents with voting power will be led by former top executives for Goldman Sachs. The entire financial system of America is being dominated by former members of Goldman.
Just two months ago, Harvard professor and former vice chairman of Goldman Sachs Robert S. Kaplan was named the new head of the Dallas Federal Reserve. His predecessor Richard Fisher is now an advisor for Barclays.
Meanwhile, Neel Kashkari has recently been appointed as the president of the Minneapolis Federal Reserve. And earlier this year in March, Patrick Harker was named the leader of the Philadelphia Federal Reserve. Both men are former executives of Goldman Sachs. Indeed, every regional Federal Reserve head that has been selected this year is an alumni of Goldman.
Add in the president of the New York Federal Reserve William Dudley, and one will find that four out of five of the regional Federal Reserve Bank presidents responsible for determining monetary policy in 2017 will be former members of Goldman Sachs. Dudley worked for Goldman from 1986 until 2007.
In 2017, the presidents of the Federal Reserve Banks at New York, Minneapolis, Philadelphia, Dallas and Chicago will be on the Federal Open Market Committee. The FOMC is largely responsible for determining monetary policy in the United States.
The only 2017 member of the FOMC who will not be a former member of Goldman is Charles Evans, who serves as the president for the Federal Reserve Bank in Chicago.
This is extremely dangerous, as having such a concentrated group of decision makers could very well lead to corruption. Of course, nothing has happened yet, but it’s still oddly suspicious. Basically, the entire economy of the United States will be in their hands. It’s wrong to make any judgements before they have even been given a chance, but it’s certainly a situation to monitor.
And it’s not just the United States, as at least eight major financial decision makers in Europe are also former executives of Goldman Sachs. With ex-Goldman Sachs members controlling both the Eurozone and the economy of the United States, we certainly better hope that Goldman bred some strong decision makers. If not, the entire global economy could quickly tank right before our eyes.
It just goes to show that people in power will help their friends get into power too. Now we’re at the mercy of Goldman.