Real Royalty and Pretend Royalty

Royal families have ruled Great Britain for centuries. They control massive wealth and exercise considerable influence in global affairs.

by Gary Christenson

Royals come and go. We celebrate their lives, observe their departure from public life, and move on to another distraction.

The life cycles of Chairpersons of the Federal Reserve resemble royals. For a few years they are closely watched, every word is analyzed, and they are treated as royalty—because they control the flow of fiat currency units. But after they have implemented destructive monetary policies, make a mess of the global economy, loaned $trillions to Wall Street, and crushed retirees and “Main Street” businesses, they give $100,000 speeches, write books for $millions, and fade into oblivion.

But there is no point discussing the occasional successes and many failures of our political and monetary pretend royalty. Nor are we interested in American “Royalty” or the billionaires of “Tech Royalty.”

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