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originally posted by: xuenchen
Trump has been jabbing at the Federal Reserve recently and maybe something is going to happen.
Apparently there's many "open" seats waiting for confirmation on The Board of Governors.
Those new "BofG's" can end up on the Open Market Committee too.
Trump has been citing "Interest Rates" and wants them to remain low.
Dick Bove: Trump poised to take control of the Federal Reserve
President Donald Trump has multiple reasons as to why he should take control of the Federal Reserve. He will do so both because he can and because his broader policies argue that he should do so. The president is anti-overregulating American industry. The Fed is a leader in pushing stringent regulation on the nation. By raising interest rates and stopping the growth in the money supply it stands in the way of further growth in the American economy.
The Board of Governors of the Federal Reserve is required to have seven members. It has three. Two of the current governors were put into their position by President Trump. Two more have been nominated by the president and are awaiting confirmation by the Senate. After these two are put on the Fed’s board, the president will then nominate two more to follow them. In essence, it is possible that six of the seven Board members will be put in place by Trump.
originally posted by: Realtruth
originally posted by: JAY1980
Someone please remind me who was the last POTUS that tried to put a leash on the federal reserve BANK?
He got his brains air-conditioned in Texas, from multiple angles.
originally posted by: highvein
a reply to: xuenchen
The Federal Reserve should have never existed in the first place. Something that has held the U.S. back since it began with the meeting on the island.
originally posted by: madenusa
If you have an adequate food and water supply, you better have an adequate gun and ammo supply... this generation is not like the 20s
originally posted by: Lumenari
originally posted by: CharlesT
originally posted by: Lumenari
a reply to: BeefNoMeat
I dunno... from what I just read in the OP Trump is pushing for hyperinflation?
Only conclusion I got out of it... which would be a silly gamble with diminishing returns....
I don't see any other way to manage the national debt and unfunded liabilities other than to inflate them away.
It's a possibility... the Roaring 20's all over again.
But there is a rather horrible downside to that... see the Great Depression.
I'm no fan AT ALL of the federal reserve, btw. Wilson sold us all out on that deal.
However, an exit strategy would be nice.
Besides the next Great Depression.
“I can assure you -- because I’ve spoken to the president -- that his intention is not in any way to put pressure on the Fed,” Mnuchin said. While he said Trump’s comments weren’t a mistake, the secretary refrained from commenting on interest rates, saying “it would be inappropriate.”
Trump was a real-estate businessman and, as such, closely follows interest rates, Mnuchin said. The secretary added that the administration continues to have “enormous” confidence in Fed Chairman Jerome Powell, who Trump appointed to succeed Janet Yellen. “I want to emphasize the administration completely supports the Fed independence.”
seems like a political move aimed at Trump directly.
If Trump "wins" against the Federal Reserve then you can count on him working for them. You don't "win" against the banking cabal and live to tell about it.