"I want nothing but yes men and people who will do as I say without question!"
Also:
"Hey, should I do this thing?"
...what answer are you expecting?
this post was submitted on 16 Jul 2025
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Of course the republicans (and corporate democrats) are going to say keep the Fed. The Fed is a globalist control mechanism to govern us all. That is like crack to them.
They're not talking about dissolving the Fed, just getting rid of Powell because the big baby isn't getting what he wants in terms of cheaper money.
The Fed is an independent body, Trump can't fire him, no matter what he says. The guy electriced by the big banks.
Oh I know, but we all know he's gonna try.
If he gets his way, they'll throttle down interest rates, inflation will soar as business raise prices to recoup their losses from the tariffs, and we're all up shit creek more than we already are.
Why do big banks get a vote and nobuddy else do? Seems undemocratic
The person above you is incorrect, the highest positions are nominated by the president and confirmed by the senate. However, the Fed does work somewhat independently of the government and does work directly with banks.
This is all done to ensure that the Fed is somewhat apolitical and only focused on its goals of "maximizing employment, stabilizing prices, and moderating long-term interest rates"
This independence is part of why Trump hates the Fed, because they won't give into his demands (as they shouldn't cause Trump is blowing up the economy).
Source - wikipedia
Maybe not in this article, but he was throwing around the idea of getting rid of the fed all together and going back to the gold standard.
At this point I don't see how that's possible.
I was talking about going back to the gold standard, you're talking about devaluing the USD to insane levels and obliterating the global economy. Eliminating the Fed and moving all monetary policy under the treasury would destroy the remaining faith in the USD, as the US Govt would have direct control, and traditionally, the stability of the USD was respected because of the independence of the Fed.
I didn't think it would be possible for him to start erecting concentration camps, but here we have Gator Alcatraz in FL, and two more being built. Once they are done with brown people, who do you think is next? Who said fascism died, (and btw, I realize it exists on both sides of the isle?)
Well the US is holding a lot of gold. Most of it for other countries...
I mean that's all cool, but what, are we just gonna toss the dollar and trade gold bullion?
The gold standard is about basing the value of the dollar on the amount printed/minted vs the amount of gold the government physically controls.
Right, but as it sits, the USD is extraordinarily inflated compared to the price of gold. I really hope Trump and his goons don't try to say, "as of today, the USD is now worth $x," because that won't fly with the rest of the financial world.
Isn't gold basically at the highest it's ever been, even in relation to USD?
Indeed, $3,340/oz as of the time of this comment.
Historically, a bank note was the equivalent to a fixed amount of gold. However this fell apart due to the volatility of gold once it became traded as a commodity on stock exchanges, as well as when other nations abandoned their own gold standards. Iirc the reason virtually no countries peg their currencies to gold is due to the fact that doing so limits the ability of governments to enact flexible monetary policy (ie QE) in times of economic hardship, or to influence the stability of a given economy (as Powell is doing niw by keeping interest rates up to prevent hyperinflation). It also severely disadvantages nations that do not have gold deposits, and limits the global economy as a result.
Note: I'm an armchair economist, everything here is as far as I understand it and could be wildly wrong, but I try to read/listen to proper economists and not yahoos spouting off in TV.