Even Fed Chair Janet Yellen Admits America Is an Oligarchy

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oligarchy

Still think we’re a Constitutional Republic with a sound democratic process? Not even close.

When avowed socialist Vermont Senator Bernie Sanders recently put Federal Reserve Chair Janet Yellen on the spot at a Capitol Hill hearing regarding the state of America as an oligarchy, Yellen basically admitted that’s what our nation has become.

“In the U.S. today, the top one percent own about 38% of the financial wealth of America, the bottom 60 percent own 2.3 percent…” the Senator began, running down a harrowing description of the wealth gap in our nation which has helped to shift all the power into the hands of an elite few.

“Are we still a capitalist democracy or have we gone over into an oligarchic form of society in which incredible economic and political power now rests with the billionaire class?” Sanders point-blank asked Yellen.

Her reply? “So, all of the statistics on inequality…

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2 thoughts on “Even Fed Chair Janet Yellen Admits America Is an Oligarchy

  1. Bernie the Socialist castigating Yellen the Oligarch is the pot calling the kettle black. Both love top-down power and have a ruling class mentality. Both are DC Insiders. Too big of a government is just as bad as too big of a corporation or crony capitalist private organization like the Federal Reserve. Both of them ought to try obeying the US Constitution for a change.

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