President Donald Trump has repeatedly attacked the chairman of the Federal Reserve (The United States’ central bank) for rising interest rates. Now, Trump is blaming General Motors layoffs on the Fed and Jerome Powell, whom he handpicked to run it.
According to Fox Business, in January, when the Senate confirmed Powell, a member of the Fed’s board of governors, to replace Janet Yellen as chair, he signaled that he would mostly support current Fed policies, including gradual increases to interest rates. Since then, Trump has been quoted as saying: “My biggest threat is the Fed. Because the Fed is raising rates too fast, and it’s too independent.” Trump made those comments during a FOX Business interview back on October 16.
Central banks, along with government, have largely been the cause of all depressions and recessions, so he’s not completely wrong that the Fed is playing a heavy-handed role in the economy. The Federal Reserve is every single freedom-lovers biggest enemy. Unfortunately, not many Americans even understand what the central bank is and what it does.
https://www.shtfplan.com/headline-news/economic-contagion-central-banks-are-the-real-culprit_08152018
Former U.S. Representative and presidential candidate, Dr. Ron Paul wrote an entire book on why the Federal Reserve needs to abolished. The book is titled End The Fed. It details how free life could be if we take away the power that has been given to the central bankers of the world.
Trump has also kept up his criticisms on Powell, when on Tuesday in an interview with The Washington Post, the president said rising interest rates have hurt the economy. “So far, I’m not even a little bit happy with my selection of Jay,” Trump said. ”Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing.” The Post has then been led to ponder the question Paul raised years ago…is the Fed really that bad?
And the short answer is yes.
Your biggest threat is not interest rates you moron it’s debt. You and Your republican led congress continue to spend money like drunken sailors and you want to blame rising interest rates. STOP over spending. SLASH debt. GUT departments and over regulation. Be responsible adults Mr. President and Congress.
The progressive Fed will only use our own weekness and stupidity to sink us. They did not create it.
It is Obvious Todd you have no understanding of what the Federal Reserve is. Do some research before you make any more comments. The Federal Reserve notes are not for payment but for debt and there is no payment. It is a private outside foreign corporation that is against the U.S. Constitution. The debt can never be paid off so what you talking about Todd?
AND All roads to financial ruin begin with the Federal Reserve, which is neither federal, nor does it have any reserves. How do adults explain this to their children when most of them do not understand this reality of life? The Federal Reserve is trying to destroy the US economy in order to rid the country of nationalist, Donald Trump. Not since 1938, has the FED raised interest rates in a low inflationary environment. They have already done it 7 times this year and plan to do it 5 times next year. They never did it to Obama. The Federal Reserve needs to be disbanded.
All Federal Reserve Notes are borrowed from the Federal Reserve with interest attached. The first note, in order to be paid back, had to have another note lent at interest to pay the interest on the first note. Compounding problem.
The Creature from Jekyll Island.
https://www.youtube.com/watch?v=DyV0OfU3-FU
https://www.youtube.com/watch?v=iFDe5kUUyT0
Notice Todd the anti-Trump liberal is the first to answer and then dominates the thread at the top, the discussion then is dominated by the troll.
Meanwhile CNN just put out a special on impeaching Presidents, telegraphing the Left’s imminent move, after january: Impeaching and Gun Control, they do not care about the economy, and Pelosi is on record that she wants it to implode.
Liberal executives are also an enemy of the economy, notice the new female left winger boss at GM announce the suicidal move (for GM) to close all of those plants, deliberately as on a Liberal Marxist cue. Leftists everywhere will use their positions to ‘help’ the cause.
And now he is moving forward with his plan to ban bump stocks. 90 days to turn them in or destroy them. ARs and AKs next?
It’s all part of their agenda. And it’s not Trump’s plan, he’s just forced to play along as their current pawn-in-chief.
bump stocks are a toy and a joke.
That said, they still should not be banned. It sets dangerous precedent for bagging ANY device perceived to assist the rate of fire on a gun. binary triggers, match grade triggers under a certain weight of pull, etc
by the way…. THE FEDERAL GOVERNMENT IS THE BIGGEST THREAT. not just “the fed”
According to what I have read, it may be any device that changes the way the firearm is fired. Trigger cranks, slide mechanisms or bump stocks. Wonder what else they can interpret the law to mean. I suspect, large capacity mags will be the next item to go and maybe anything that changes the way the gun was designed to market.
Boy Howdy and Amen…He don’t know what kind of bare naked truth he just spoke…….God protect him, he will have the wrath on him now…..
all you need to know about who trump is for..
He continued the “Patriot Act”
end of friken story
traitor himself to the American people
and just like JAS posted ..Trump isnt truthfully supporting our Right to Bear Arms
New Boss, same as the Old Boss
smoke and mirrors again and people are buying his BS
He didn’t have any choice but to “continue” the Patriot Act. It’s law dipshit.
laws can be changed or abolished, dipshit.
Not by the President. Did you actually finish 9th grade civics hot-rod?
*sigh*
Apparently you never made it past the schoolhouse rock short “I am a Bill”
yes, on paper we have this neat division of checks and balances at the federal level. Ostensibly, a president cant simply write and implement a law. Poor Bill needs both houses to vote and then a president signs it whereupon he cries “I am a law!”
Meanwhile here in reality, he would have the ability write carefully crafted executive orders, allow certain portions of law to expire without resigning them back into law (GWB and the AW ban, Obama and some of the more odorous parts of the PATRIOT act in 2015 are 2 examples), could apply political pressure to certain members of congress to vote for or against legislation, withhold funding by not approving a budget (ie- what he’s doing with the wall) use his political party to organize sympathetic congresscritters to draft a repeal, a revision, or a replacement etc. Welcome to the political process.
So saying he “didn’t have any choice” is just silly.
What a joke…How many mass shooting have had bump stocks as the main reason for fatalities.? The Vegas shooter “may” have used a bump stock, but its still questionable that there would have been less fatalities if he had not used bump stocks. This is just a bone to throw to the gun-grabbing fools. They’ll never go for assault weapon confiscation. Too many of us bought them ‘legally’. Too many of them out there. And too many of us ready to use them on “anybody” that would be so foolish as to try and forcefully take them.!!!!!
its never about been about mass shootings or public safety. its about consolidation of power.
and no ones going to confiscate them. they will simply die quietly in a cache or the back of someones gun safe, never be used or practiced with. thats the plan.
The only truth…
things are only going to get worse for the working legal citizen taxpayer.
Got to double that national debt every seven years now or Wall Street will stall at 0% growth.
The unfairness grows as the bottom 50% receive more from the govt than they pay in.
Abolish all taxation of the citizens and make every person pay equally, like $50k per year in taxation… I bet the budget would get fixed instantly, the govt would have to cut 90% of their shit.
Stop the endless handouts while picking my pocket.
QUESTION ?
Is the reason why interest rate are going up is a DEMOCRAT move
so when they get out of jail with bribes or when they get out of jail and have a little cash on hand to live comfortably still ?
Anybody PLEASE !
Everyone’s biggest threat is the FED. The FED is a private institution, it is neither federal nor a reserve. It is immune from any mandatory audit, the “stockholders” are not publicly revealed, and policy is formulated behind closed doors. I’m no constitutional scholar, but Article 1 of the US Constitution clearly states that only Congress has the power to coin money; that is, print and control money supply, and regulate the currency. When Congress gave away their singular authority back in 1913 it not merely broke the law, but it was an un-Constitutional act. The Senate was complicit because they had to pass a vote on it too, and the President was complicit because he had to sign it into law. Corruption at the highest levels.
The process set in motion was that rather than gov’t printing and regulating its own money, it also borrows it with interest from the FED. But the FED doesn’t actually have any money, not a cent. It creates it out of thin air. This means all money is really debt since money must always be loaned into existence, and repaid with interest. It is therefore never possible to have enough dollars to pay off the debt; greater and greater sums must be perpetually created to keep it going. Then, in 1971, the dollar was completely removed from have any semblance of gold backing it. This was done so that endless dollars could be printed. These measures are why the dollar has lost more than 97 % of its value since 1913.
Eventually the whole scheme must collapse, in our physical realm everything has its limits. The problem is that EVERYTHING economic, financial, and political is irrevocably interwoven in the system, when gov’t spending and the FED reaches its extreme end and can longer function the result is mayhem and chaos in every level of society and the country.
Look on your paper dollars, it has printed on them FEDERAL RESERVE NOTE. I also believe the FED is manipulating the economy, financial systems, and gov’t of the US, making the US a milk cow to enhance the power and wealth of certain entities, even as Americans are generally becoming poorer, and the middle class in rapidly shrinking.
Todd, you make great points but listen to this about interest rates. Decades of irresponsible spending and promises for entitlements by our Fed. Govt. have led us to tremendous debt. The interest on that tremendous debt is ridiculously huge amounts of money. Even minor increases in interest RATES cause our country to be unable to service the debt. The Fed. Reserve increases interest RATES knowing we cannot keep up with the interest payments.
Thanks for the history lesson Bill.
BTW… “I also believe the FED is manipulating the economy”
Yep, that’s pretty much their job.
After their pow-wow my bet is that Powell puts further rate hikes on hold. We shall see.
Money has no intrinsic value. It is a means of transferring wealth and or resources. Be it a gold coin or paper dollar.
The value of that money is arbitrarily set by whoever uses it to trade “stuff”.
The real danger the FED causes is the artificial inflation of money, whose sole purpose is to use inflated dollars to pay off debt more cheaply. The vast majority of our debt is held by Americans. This Friday the US treasury will pay me 2.8% interest on a 91 day loan. Thanks to the FED the cost of living is rising at about double that rate. My 40 plus years of social security taxes were actually a loan to be payed back to me as an annuity from what ever age they pick. It is to the benefit of the government to inflate future dollars.
I hope and pray for a deep depression so I can survive on my pensions and social security at their present values.
Sorry rellik, one of the defining characteristics of money is that it DOES have intrinsic value. It’s pretty much the difference between gold and paper and the current lack of it is the root of the problem. Gold is money. Paper is credit.
Who establishes the value of that gold?
The value of a thing is only what people
are willing to trade for it.
To you Gold has value, to me it is useless
beyond industrial uses.
Try paying for your next fillup at the gas station
using a 1/10 oz maple leaf gold coin.
You’re not rellik. You are somebody that has hijacked his account. I have never heard such intellectual shallowness from the real rellik.
Stuart,
When it comes to PM’s most people here
on this site think I’m crazy.
I’m in the middle of the Pacific and there is
almost no market for such PM stuff here.
So I’m being parochial, as in my case it
is the most practical way to survive.
Enjoy your gold earnings!
Just for your edification
I do have a few pounds of silver.
I’ll probably use the coins to beat
something to death.
The value of gold ultimately came from the labor to extract it from the ground.
It’s value has been relatively constant. A hundred years ago, a $20 gold piece could buy a really nice men’s suit. Now that same one ounce of gold converted to FRNs can still buy a really nice men’s suit.
The people at most gas stations are stupid. You wouldn’t be using a 1/10 ounce gold coin to buy gas anyway. That’s way too much money, and most places don’t keep enough cash in the register to make the change. Most places I go refuse to take $100 bills.
I’ll take all the gold you’ll give me.
And silver too, as it’s going up in value due to being used up.
Sufferin succotash the game is rigged.
https://www.sgtreport.com/2018/11/arkansas-swamp-bleeds-as-clintons-circle-the-drain/
Something is not only up on Dec. 5th like the link above describes (an event discussed on thehill.com by the brilliant Sarah Carter), but it appears military tribunals AND the massive amount of indictments simultaneously.
It’s not just the Clinton Foundation and Arkansas but some fraud touching the military in Tennessee and some massive Democrat dirt.
The rather telling sign was the Trump tweet of the cartoon showing Obama staff behind bars and discussing investigations of TREASON. Then Trump posted that should the Democrats (who openly stole this election through voting fraud) come after him, he’s going to release the unredacted evidence he has on them.
It’s doubtful he’s just bluffing. On top of which he somehow ended up backing Pelosi when she was most vulnerable AND got Chuck Shummer to discuss funding the Wall.
Things are coming to a head like the worst kind of carbunckle.
Realize the other things happening like Muhuer getting backstabbed by his witnesses under duress and the new acting attorney general who previously came out and stated the Russiagate scandal was bogus.
The fewmets are hitting the fan.
We can hope… but I wouldn’t hold my breath.
The Fed chairman was not “hand picked by Trump.” Trump had to choose from a short list provided by the Fed. That’s the way it’s always been.
Tempers optimism by raising rates. Tempers skepticism by lowering rates, ie. cheap credit. Does this serve the useful purpose of being a stabilizing influence.
Obama would have discouraged markets. Trump would have encouraged them. Fed does the opposite, in a counterbalance.
I think, the balance of powers would ideally result in “players” facing an equal but opposite reaction, so becoming abstentionists or lame ducks. It is a fool’s errand, used to waste the attention and resources of ambitious people.
Honestly Wall Street is a scam based upon buoying investor optimism with false data that get corrected later after they bought it hook, line, and sinker. It used to be buying based on fundamentals not AI buying the dip in huge amounts. Basically the AI is bolstering sales and self-sabotage to the various economies.
Banking is a scam as they create currency every time they loan money they don’t have.
Insurance is a scam that should seldom be utilized as an investment.
Politics is a scam as they’re all liars save for Rand Paul.
We operated just fine without the fake Federal Reserve. Get rid of it and create some form of true money based on diversified natural resources and not worthless federal reserve notes which are just worthless currency based on debt. This is rather easy to do and that way if one resource falls in value, the citizens aren’t sunk. I mean it could be an amalgam of coal, petroleum, silver, gold, uranium, etc…not just gold. Heck it could also include commodities like soybeans and pork bellies.