Powell getting axed would be great news for the country, but it would be far better news if we listened to retired Congressman Ron Paul and eliminated the Fed completely.
Powell is so obviously a Deep State actor, but I think it is worse than that. I think someone or several someones have something on him and are forcing him to do the counterproductive -- actually nonsensical -- things he is doing. He is being blackmailed. Why else would a man go out of his way to destroy his own reputation with policies (and rates) shown to harm our country? Who does he have to obey? What is being hidden?
You just described a Democrat, who will harm the country to push an agenda. Powell needs investigated and prosecuted for lying to Congress, then terminate with cause.
The Fed is designed to be fraudulently counterproductive and fail. Forcing Powell to resign is as counterproductive as admitting that we should repeal the Federal Reserve Act, while ignoring that Powell is expected (by his colleagues in The Fed) to be counterproductive. Repeal the Federal Reserve Act and force Powell and the entire central bank to get a real job, while using a presidential order to force them to not flee the US, since the bankers at The Fed all know they’ll be charged the fraud, embezzlement and money laundering, anyway🇺🇸
Look at the guy. He has kiddie diddler written all over his face. Plus, you don't get to be Fed Chairman without "them" having something over you with which they can control you.
First, I would agree the Banking mafia should be eliminated. I have two points for consideration. Reducing the interest rate, which at one point, was virtually zero. What was the effect of that? Millions of retirees and younger individuals who saved were rewarded by receiving zero dollars in return for the use of their savings. The government went on a spending spree that has given us 37 Trillion in debt. Now some whine that the debt is increasing because of the increase rate. The fact is that is part of the increase but as well is the increase spending by government programs. The interest rate at 4-5 % is really the only tool to try and slow down the spending. This administration and this congress want us to believe that increasing growth in the GDP will make the debt smaller. A couple of thoughts. There is a need to reduce the size of government, but when you factor in AI and robotics where will individuals look for employment? These issues are being totally ignored by this administration and congress. Clearly most in congress have no clue about anything except running for office. Lastly, when one looks at another effect of zero interest rates it is in banking. Banks took our savings and parked it in overnight government and received interest to pay for their operations. When the rates went to near zero after the Bush disaster the banks, at least Regional and Locals started to consolidate as they were having problems. They were encouraged to buy government bonds. With the higher interest rates the older bonds have issues.
My mother in law who is no longer with us for years saved and lived on the interest plus Social Security. Her Social Security was less than $500 a month after part B Medicare was taken out. In the last five years of her life she received virtually nothing in interest and was living totally on her savings and small Social Security. She couldn't have been the only one in this situation.
Sorry to say that you were right until you got to the idea of what the people are going to do who are displaced by robots and Ai. Yes it is a concern, but you are being shortsighted in the ingenuity of Americans. We survived when cars became cheap, everyone could buy them, and blacksmith didn’t have to shoe horses anymore. It isn’t like this happens overnight or that people don’t have more than one skill. One more thing to add is that a small interest rate cut stimulates growth. We could use that to boost home ownership which stabilizes the economy. Keeping the American Dream alive for the generation coming up, will also increase birth rates which are our biggest concern and most important asset.
Shut down the Fed! I knew this was an oligarchal, all powerful, wealth destroying monolith as soon as I read about it when I was 17!! It is a monster that must be slain. Trump has gotten us out of many dangerous, destructive institutions but no one dares to go up against this Goliath.
The Fed has already bankrupted America once (in 1933) and is about to do it again. It is a wicked, anti-American institution. The Fed needs to be abolished.
However, I don't think that interest rates should be reduced. The laws of mathematics are immutable. The Fed knows the obvious, which is that the US is in a debt trap, from which there is no escape. The rest of the world also knows this. They are selling dollars to buy gold and bitcoin. Investors will demand higher, not lower, rates to compensate for the risk of investing in a sinking ship.
But in this case it's not primarily about the US's deficit or the US economy. It's primarily about the currency and its role in the global economy.
In 1971, Treasury Secretary John Connally famously remarked to the rest of the world how the US dollar was "our currency, but your problem." After 54 years of living beyond our means with reckless deficit spending now totalling nearly 40 trillion dollars, the dollar has become our currency and our problem. The BRICS/SCO countries are de-dollarizing in an attempt to deprive the US of the means to wage war and bully the rest of the world. The rest of the world has an increasingly shrinking appetite to lend us the money to fund our deficits because they know our debts are not repayable, except in debased dollars. Who can blame them for walking away?
Article I, Section 8 Clause 5:The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; .
So, how did the FED become independent when the US Constitution requires that Congress coin's the money and regulates the value thereof? JD Rockefeller Sr. and Rothschild bankers.
Those crooked bankers needed a soft landing for their investment schemes, and the FED does just that by propping up the value of their portfolios of government debt, as well as other securities. When Weimar Germany suffered hyperinflation in '21 - '23, the Rothschilds were getting paid back with almost worthless money. Soon they forced the creation of the Bank of International Settlements, now its own nation-state, to control the value of money repaid to the globalist bankers by focusing on no-default debt service. The BIS is the largest money laundering operation in the world, creating currency out of thin air and then after a couple of foreign currency exchanges, treating the money as legit and purchasing securities which the Rothschild bankers add to their portfolios.
The FED was never to help the public, and it is rare when it does. How Ben Bernanke got a Nobel is beyond me. He made every mistake possible in 2007 when replicating the FED actions of 1931, all under the assumption his research on liquid auxiliary credit markets would have made the difference in stopping the Great Depression. Instead, Ben proved that Friedman and Schwartz were correct in that the public needed more money, because it was only the FDIC that limited the damage of the Great Recession.
A legitimate America First government would treat the BIS as an Enemy Combatent. They are the most destructive force in global banking, led by an over-stuffed, over-paid, beer soaked beaner named Carstens, who is more dangerous to the world than any other Mexican cartel leader.
Terminating the Federal Reserve would be a terrible idea that would lead to the boom and bust cycles of the economy that were the cause of the Fed being established to begin with.
The problems with the Fed are many, and start with the dual mandate they have been charged with implementing and defending. Its an impossible task to maximize employment while controlling inflation, as they often are moving in opposite directions. On which do you choose to focus, rising inflation or falling employment ? Rising employment or falling inflation ? Congress should pick one of the two for the Fed to focus on, preferably inflation as it is more reactive to changes in monetary policy. The Fed's third problem is that there is a very long lag time of about 19 months before the economy fully reacts to a change in short term interest rates by the Fed. And so the massive staff of Fed economists must try to predict where inflation and employment will be and how they will change as the Fed's interest rate policies gain traction. That is not an easy job, as few have mastered this skill for the forward six months, much less 19.
This third problem is why the Fed often seems to be wrong in its predictions, either fighting the last war or anticipating changes that have yet to occur. Its actually happening right now. Monthly inflation readings for the last six months of 2024 were quite low, meaning that for inflation to drop any further now on a year-over-year basis, the monthly inflation readings will have to come in as low if not lower than in the second half of 2024. Until the Fed gets some feel for what those monthly 2025 numbers will be, they do not want to ease rates, because if those numbers for 2025 are stronger than for the corresponding period of 2024, it will look like the Fed is easing into rising inflation and the markets will react catastrophically. The Fed cannot say this out loud, because in so doing, they will trigger the automatic consumer reflex to buy now before prices rise if they have reason to believe that inflation is worsening in what very well may be an already inflationary environment. This is why Trump should stop badgering Powell and the Fed over the level of interest rates, firstly because economies in Europe and elsewhere may be far weaker than in the US, thus justifying the easing of their respective Central Banks. And also because if proven wrong, Trump will have to endure several weeks of media abuse that he was wrong to brow-beat the Fed.
The fourth and biggest problem the Fed has in fulfilling its mandates is that for over a decade the Fed has been trying to solve fiscal difficulties for the US economy with a monetary solution. This is like going to the dentist for a foot problem, it just doesn't work. The main problems of the US economy were created by Congress' proclivity towards borrowing money to spend on give away programs and the military. Those are the main drivers of the inflation we have seen post-Covid. No amount of interest rate changing is going to pay down that debt in order to achieve the desired reduction in inflation.
So when faced with all of these headwinds, its no wonder the Fed always seems to be enacting the wrong policies. Plus, Powell was the wrong guy for his present job, as he is a lawyer, not someone steeped in market knowledge of how Fed policies are being perceived by financial markets. But regardless if Powell or someone else chairs the Fed, the inflation problems will remain for at least the next six months, and if a new Fed Chair were to ease rates now, s/he would cripple the US Government Securities market, collapse the dollar, and make the fiscal-driven inflation we are experiencing even worse with a monetary adjutant.
Finally, the calls to end the Fed are blind to the important other functions that the Fed provides. The Fed facilitates the daily transfer of billions in money and securities transacted in financial markets, it contributes to the necessary regulation of the thousands of banks in the US financial system, and is the lender of las resort that provides the liquidity at times when the stock market is crashing so as to prevent a meltdown of the financial system and a deep economic Depression that would necessarily follow.
Those who argue for a closure of the Fed should instead be offering constructive reforms that will make the Fed more productive and efficient. If you want Trump to fire Powell, it should be after a publicly broadcast Congressional hearing that establishes malfeasance and incompetence regarding the Fed Chairman's oversight of the renovation of Fed offices and the construction of new facilities, and not because he has not lowered interest rates to the degree of other countries. If you really want to help solve America's biggest financial problems, point out to the Treasury that seeking a lower dollar in the face of a tariff regime reset is terribly wrong for a country that needs to borrow trillions of dollars per year. And embarrass the Congress for their fiscal ineptitude.
Lot of good info !! But you didn't address the lower of rates which IMHO should NOT be lowered at this time. In fact I think they are a tad too low at these rates.... maybe 1/2 basis higher would be better.
There are a lot of start-up companies that issued a mountain of debt in US dollars during the last decade that they used to pay operating expenses as they had no profits. This debt is coming due to be rolled over, and higher interest rates will put those companies out of business. The resultant unemployment is an untenable prospect to political leaders, which is why there has been such pressure on Central Bankers to keep rates low regardless of the inflation it spawns.
But anyone who understands the1970s knows that inflation is a cancer that inevitably kills economies. Which is why the US Fed is hesitating from lowering rates presently. The great hope is that by keeping economies flush with cash, stock markets will remain elevated and a good deal of the outstanding debt will be exchanged for equity.
What it all says is that in both the public and private sectors of the global economy, Central Banks are being pressed to compensate with monetary policy for the fiscal errors of governments and companies. Its not a sound way to conduct monetary policy, but the alternative is economic collapse globally. So in typical government fashion, the Central Banks are kicking the can down the road, forestalling the inevitable.
Which is why Gold trades near record highs and bitcoin - the new Gold - trades at equally astounding highs. But when I see all these financial instruments trading at such elevated levels, it tells me there is too much money in the global economy and that a debt collapse is a very real possibility. Fixed income markets are beginning to get the same feeling, which means that this Alice In Wonderland economic condition soon will be forced back to reality.
Also Very little on the "Man in the Street " economic issues has come down very far either.... eggs some, gas ( not really)....... Groceries etc are still maintaining just slightly better than the worst 18 months ago.
There are a number of confusing signs in the economy now. Capturing the real unemployment rate is one of them, since the millions of people who have become permanently disabled since 2021 (probably due to the Covid shots) has created an artificial shortage of workers .Likewise, if you consider the items that people actually spend money on and consider them in the proper proportions that they actually spend at, you likely would find that the real rate of consumer inflation is actually around five percent.
Which all means that short term rates are too low, the rate for 6 moth CDs should be closer to 5.25% than where it is now.
Agree with Ron Paul and Roger about ending the Fed (and all central banks), but unfortunately President Trump's demand for a 1.75% interest rate seems as anti-MAGA as his demand that nobody talk about Epstein's clients (and sponsors!) or complain about OBBB's additional $3 trillion in debt.
You are 100% correct..... Interest rates are fine now. Trump woul decimate the working. middle classes as well as those retired ! All the boomers getting ready to retire would be screwed big time !!
Rates may be fine, but neither the President, a small clique of monopoly bankers, or I should be settings rates. That's a market function. Setting any price, say for homes or rentals, artificially low results in too little production and too much demand. Same with money, but with an even bigger impact. Artificially low rates create unsustainable (faux) booms, inevitably followed by busts. And governments, as huge borrowers ($40 trillion?), almost always want artificially low rates.
Sack his ass!
Powell is so obviously a Deep State actor, but I think it is worse than that. I think someone or several someones have something on him and are forcing him to do the counterproductive -- actually nonsensical -- things he is doing. He is being blackmailed. Why else would a man go out of his way to destroy his own reputation with policies (and rates) shown to harm our country? Who does he have to obey? What is being hidden?
You just described a Democrat, who will harm the country to push an agenda. Powell needs investigated and prosecuted for lying to Congress, then terminate with cause.
Harm the country to push an agenda? Dems? Are you fucking retarded? Wow. Mega cultist
The Fed is designed to be fraudulently counterproductive and fail. Forcing Powell to resign is as counterproductive as admitting that we should repeal the Federal Reserve Act, while ignoring that Powell is expected (by his colleagues in The Fed) to be counterproductive. Repeal the Federal Reserve Act and force Powell and the entire central bank to get a real job, while using a presidential order to force them to not flee the US, since the bankers at The Fed all know they’ll be charged the fraud, embezzlement and money laundering, anyway🇺🇸
Look at the guy. He has kiddie diddler written all over his face. Plus, you don't get to be Fed Chairman without "them" having something over you with which they can control you.
He’s also worth over 500 millions dollars!
That's all?
Before or after he took the Fed job ?
First, I would agree the Banking mafia should be eliminated. I have two points for consideration. Reducing the interest rate, which at one point, was virtually zero. What was the effect of that? Millions of retirees and younger individuals who saved were rewarded by receiving zero dollars in return for the use of their savings. The government went on a spending spree that has given us 37 Trillion in debt. Now some whine that the debt is increasing because of the increase rate. The fact is that is part of the increase but as well is the increase spending by government programs. The interest rate at 4-5 % is really the only tool to try and slow down the spending. This administration and this congress want us to believe that increasing growth in the GDP will make the debt smaller. A couple of thoughts. There is a need to reduce the size of government, but when you factor in AI and robotics where will individuals look for employment? These issues are being totally ignored by this administration and congress. Clearly most in congress have no clue about anything except running for office. Lastly, when one looks at another effect of zero interest rates it is in banking. Banks took our savings and parked it in overnight government and received interest to pay for their operations. When the rates went to near zero after the Bush disaster the banks, at least Regional and Locals started to consolidate as they were having problems. They were encouraged to buy government bonds. With the higher interest rates the older bonds have issues.
My mother in law who is no longer with us for years saved and lived on the interest plus Social Security. Her Social Security was less than $500 a month after part B Medicare was taken out. In the last five years of her life she received virtually nothing in interest and was living totally on her savings and small Social Security. She couldn't have been the only one in this situation.
Sorry to say that you were right until you got to the idea of what the people are going to do who are displaced by robots and Ai. Yes it is a concern, but you are being shortsighted in the ingenuity of Americans. We survived when cars became cheap, everyone could buy them, and blacksmith didn’t have to shoe horses anymore. It isn’t like this happens overnight or that people don’t have more than one skill. One more thing to add is that a small interest rate cut stimulates growth. We could use that to boost home ownership which stabilizes the economy. Keeping the American Dream alive for the generation coming up, will also increase birth rates which are our biggest concern and most important asset.
EXACTLY !!!!
Shut down the Fed! I knew this was an oligarchal, all powerful, wealth destroying monolith as soon as I read about it when I was 17!! It is a monster that must be slain. Trump has gotten us out of many dangerous, destructive institutions but no one dares to go up against this Goliath.
End the Fed. It's neither "federal" nor any "reserve."
The Fed has already bankrupted America once (in 1933) and is about to do it again. It is a wicked, anti-American institution. The Fed needs to be abolished.
However, I don't think that interest rates should be reduced. The laws of mathematics are immutable. The Fed knows the obvious, which is that the US is in a debt trap, from which there is no escape. The rest of the world also knows this. They are selling dollars to buy gold and bitcoin. Investors will demand higher, not lower, rates to compensate for the risk of investing in a sinking ship.
https://alasdairmacleod.substack.com/p/the-inescapable-mathematics-of-a
Drop the interest rates, the tariffs will cover it!! It will stimulate the housing market.”
But in this case it's not primarily about the US's deficit or the US economy. It's primarily about the currency and its role in the global economy.
In 1971, Treasury Secretary John Connally famously remarked to the rest of the world how the US dollar was "our currency, but your problem." After 54 years of living beyond our means with reckless deficit spending now totalling nearly 40 trillion dollars, the dollar has become our currency and our problem. The BRICS/SCO countries are de-dollarizing in an attempt to deprive the US of the means to wage war and bully the rest of the world. The rest of the world has an increasingly shrinking appetite to lend us the money to fund our deficits because they know our debts are not repayable, except in debased dollars. Who can blame them for walking away?
Article I, Section 8 Clause 5:The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; .
So, how did the FED become independent when the US Constitution requires that Congress coin's the money and regulates the value thereof? JD Rockefeller Sr. and Rothschild bankers.
Those crooked bankers needed a soft landing for their investment schemes, and the FED does just that by propping up the value of their portfolios of government debt, as well as other securities. When Weimar Germany suffered hyperinflation in '21 - '23, the Rothschilds were getting paid back with almost worthless money. Soon they forced the creation of the Bank of International Settlements, now its own nation-state, to control the value of money repaid to the globalist bankers by focusing on no-default debt service. The BIS is the largest money laundering operation in the world, creating currency out of thin air and then after a couple of foreign currency exchanges, treating the money as legit and purchasing securities which the Rothschild bankers add to their portfolios.
The FED was never to help the public, and it is rare when it does. How Ben Bernanke got a Nobel is beyond me. He made every mistake possible in 2007 when replicating the FED actions of 1931, all under the assumption his research on liquid auxiliary credit markets would have made the difference in stopping the Great Depression. Instead, Ben proved that Friedman and Schwartz were correct in that the public needed more money, because it was only the FDIC that limited the damage of the Great Recession.
A legitimate America First government would treat the BIS as an Enemy Combatent. They are the most destructive force in global banking, led by an over-stuffed, over-paid, beer soaked beaner named Carstens, who is more dangerous to the world than any other Mexican cartel leader.
Terminating the Federal Reserve would be a terrible idea that would lead to the boom and bust cycles of the economy that were the cause of the Fed being established to begin with.
The problems with the Fed are many, and start with the dual mandate they have been charged with implementing and defending. Its an impossible task to maximize employment while controlling inflation, as they often are moving in opposite directions. On which do you choose to focus, rising inflation or falling employment ? Rising employment or falling inflation ? Congress should pick one of the two for the Fed to focus on, preferably inflation as it is more reactive to changes in monetary policy. The Fed's third problem is that there is a very long lag time of about 19 months before the economy fully reacts to a change in short term interest rates by the Fed. And so the massive staff of Fed economists must try to predict where inflation and employment will be and how they will change as the Fed's interest rate policies gain traction. That is not an easy job, as few have mastered this skill for the forward six months, much less 19.
This third problem is why the Fed often seems to be wrong in its predictions, either fighting the last war or anticipating changes that have yet to occur. Its actually happening right now. Monthly inflation readings for the last six months of 2024 were quite low, meaning that for inflation to drop any further now on a year-over-year basis, the monthly inflation readings will have to come in as low if not lower than in the second half of 2024. Until the Fed gets some feel for what those monthly 2025 numbers will be, they do not want to ease rates, because if those numbers for 2025 are stronger than for the corresponding period of 2024, it will look like the Fed is easing into rising inflation and the markets will react catastrophically. The Fed cannot say this out loud, because in so doing, they will trigger the automatic consumer reflex to buy now before prices rise if they have reason to believe that inflation is worsening in what very well may be an already inflationary environment. This is why Trump should stop badgering Powell and the Fed over the level of interest rates, firstly because economies in Europe and elsewhere may be far weaker than in the US, thus justifying the easing of their respective Central Banks. And also because if proven wrong, Trump will have to endure several weeks of media abuse that he was wrong to brow-beat the Fed.
The fourth and biggest problem the Fed has in fulfilling its mandates is that for over a decade the Fed has been trying to solve fiscal difficulties for the US economy with a monetary solution. This is like going to the dentist for a foot problem, it just doesn't work. The main problems of the US economy were created by Congress' proclivity towards borrowing money to spend on give away programs and the military. Those are the main drivers of the inflation we have seen post-Covid. No amount of interest rate changing is going to pay down that debt in order to achieve the desired reduction in inflation.
So when faced with all of these headwinds, its no wonder the Fed always seems to be enacting the wrong policies. Plus, Powell was the wrong guy for his present job, as he is a lawyer, not someone steeped in market knowledge of how Fed policies are being perceived by financial markets. But regardless if Powell or someone else chairs the Fed, the inflation problems will remain for at least the next six months, and if a new Fed Chair were to ease rates now, s/he would cripple the US Government Securities market, collapse the dollar, and make the fiscal-driven inflation we are experiencing even worse with a monetary adjutant.
Finally, the calls to end the Fed are blind to the important other functions that the Fed provides. The Fed facilitates the daily transfer of billions in money and securities transacted in financial markets, it contributes to the necessary regulation of the thousands of banks in the US financial system, and is the lender of las resort that provides the liquidity at times when the stock market is crashing so as to prevent a meltdown of the financial system and a deep economic Depression that would necessarily follow.
Those who argue for a closure of the Fed should instead be offering constructive reforms that will make the Fed more productive and efficient. If you want Trump to fire Powell, it should be after a publicly broadcast Congressional hearing that establishes malfeasance and incompetence regarding the Fed Chairman's oversight of the renovation of Fed offices and the construction of new facilities, and not because he has not lowered interest rates to the degree of other countries. If you really want to help solve America's biggest financial problems, point out to the Treasury that seeking a lower dollar in the face of a tariff regime reset is terribly wrong for a country that needs to borrow trillions of dollars per year. And embarrass the Congress for their fiscal ineptitude.
Lot of good info !! But you didn't address the lower of rates which IMHO should NOT be lowered at this time. In fact I think they are a tad too low at these rates.... maybe 1/2 basis higher would be better.
There are a lot of start-up companies that issued a mountain of debt in US dollars during the last decade that they used to pay operating expenses as they had no profits. This debt is coming due to be rolled over, and higher interest rates will put those companies out of business. The resultant unemployment is an untenable prospect to political leaders, which is why there has been such pressure on Central Bankers to keep rates low regardless of the inflation it spawns.
But anyone who understands the1970s knows that inflation is a cancer that inevitably kills economies. Which is why the US Fed is hesitating from lowering rates presently. The great hope is that by keeping economies flush with cash, stock markets will remain elevated and a good deal of the outstanding debt will be exchanged for equity.
What it all says is that in both the public and private sectors of the global economy, Central Banks are being pressed to compensate with monetary policy for the fiscal errors of governments and companies. Its not a sound way to conduct monetary policy, but the alternative is economic collapse globally. So in typical government fashion, the Central Banks are kicking the can down the road, forestalling the inevitable.
Which is why Gold trades near record highs and bitcoin - the new Gold - trades at equally astounding highs. But when I see all these financial instruments trading at such elevated levels, it tells me there is too much money in the global economy and that a debt collapse is a very real possibility. Fixed income markets are beginning to get the same feeling, which means that this Alice In Wonderland economic condition soon will be forced back to reality.
Another excellent comment !! You speak the truth.
Also Very little on the "Man in the Street " economic issues has come down very far either.... eggs some, gas ( not really)....... Groceries etc are still maintaining just slightly better than the worst 18 months ago.
There are a number of confusing signs in the economy now. Capturing the real unemployment rate is one of them, since the millions of people who have become permanently disabled since 2021 (probably due to the Covid shots) has created an artificial shortage of workers .Likewise, if you consider the items that people actually spend money on and consider them in the proper proportions that they actually spend at, you likely would find that the real rate of consumer inflation is actually around five percent.
Which all means that short term rates are too low, the rate for 6 moth CDs should be closer to 5.25% than where it is now.
Agree with Ron Paul and Roger about ending the Fed (and all central banks), but unfortunately President Trump's demand for a 1.75% interest rate seems as anti-MAGA as his demand that nobody talk about Epstein's clients (and sponsors!) or complain about OBBB's additional $3 trillion in debt.
You are 100% correct..... Interest rates are fine now. Trump woul decimate the working. middle classes as well as those retired ! All the boomers getting ready to retire would be screwed big time !!
Rates may be fine, but neither the President, a small clique of monopoly bankers, or I should be settings rates. That's a market function. Setting any price, say for homes or rentals, artificially low results in too little production and too much demand. Same with money, but with an even bigger impact. Artificially low rates create unsustainable (faux) booms, inevitably followed by busts. And governments, as huge borrowers ($40 trillion?), almost always want artificially low rates.
Exactly !!
How could this little man have this much power?
He needs to go
Yes he should
I agree with the POTUS
Amen
https://open.substack.com/pub/marnialward/p/the-manufactured-mind-trump-career?r=v1piz&utm_medium=ios
Why on earth would he step down? Is he not doing exactly what the OWNERS OF THE FED want him to do? I’m so confused…
The whole “Fed remodeling” situation verified the fed is as crooked as it gets.
They genuinely feel they are above the law.
I think one of the greatest crimes ever perpetrated on the American taxpayer is an out of control fractional banking system.
The fed does the same thing - well actually that’s it core.
For example, you deposit $1000 at your bank.
The bank turns around - using your $1000 deposit - and creates 9 new $1000 loans using your deposit as collateral.
So the bank creates an income flow from $9000 in loans based on the remaining $100 of your deposit.
This is an off the cuff example.
The point I am making is, the debt to equity ratio is absolutely absurd and there is ZERO security for $1000 deposit.
Whereas, you are required to pledge significantly more assets than the value of the loan you are receiving to secure a bank loan.
The banks should be required to maintain a reasonable reserve for all liabilities - otherwise the financial security of the bank is very weak.
Our whole banking system is not only a house of cards, it is a game of ‘three card mollie’.
It’s stacked deck against the taxpayer because no matter who loses or who defaults, the taxpayer is liable.
We are paying interest on debt - created out of thin air by the fed - and loaned to the US government to spend - with taxes on our income.
We have become the debtors to government created debt whereas we should be receiving interest on the money we loaned the fed/government.
The national debt should have the taxpayers as creditors and our income accounts should be bulging.
And it should all be secured by GOLD as per the original version of the Constitution.
Congress and the fed made this situation possible.
They are criminals.