If Trump takes over the FED, the US economy will go into an absolute tailspin and depression. The only reason inflation has been sort of brought back under control is the FED. Trump has no fucking clue what he’s doing on a monetary level and neither does any of his ghouls and cronies.
they know what they’re doing. they’re lining all the right pockets. it’s just that they don’t give a fuck about anything else when it comes to ‘money’
They know what they’re doing when it comes to funneling money into their own pockets, I agree here. But they’ll do it in such a hamfisted way, that it will bring down the entire house of cards, because they don’t understand or bother to understand the systems they’re pilfering. Though, this might very well be part of what they want to accomplish anyway.
Doesn’t really matter how many dollars you dish out if the dollar isn’t worth the paper it’s printed on
But once the dollar is worthless, then we can start using $TRUMP as currency
it’ll either be cryptocurrency or hard currency like assets, goods, or maybe gold and such.
the thing is that it will take a while for the market to react, so short-term, the dollar would still have value, giving trump infinite buying potential.
There is a reason that gold is at an all-time high (~$3735). Even adjusting for inflation, it is higher than the 1980 peak following stagflation from the 1970s. Moreover, central bank purchases have been the backbone of the current gold market, with central banks now holding more gold than U.S. treasuries, something that hasn’t been the case since 1996. We’re witnessing the demise of the dollar as the world’s reserve currency in real time.
There is a reason that gold is at an all-time high
Yeah, loose monetary plus goldbug speculation. The spread between gold and silver, for instance, has been widening while gold and platinum contract.
We’re witnessing the demise of the dollar
We’re witnessing the reemergence of a multi-polar world. The dollar will take a hit. It’s not the end of dollarization.
I think he knows what he’s doing, since all he’s really doing is stuffing his pockets. Doesn’t take a genius to cartoonishly sell out the entire planet’s economy for personal gain. I’m sure if he manages to crash the dollar he’ll be thrilled to roll out Trumpcoin as the alternative and then rugpull the world a second time.
If Trump takes over the FED, the US economy will go into an absolute tailspin and depression
We’re already 900k jobs off the beginning of the year estimate. Add in the tech sector investment in AI failing to pay out 2-3 years later, and Trump’s been kicking the shit out of a wheezing horse since he took office.
Trump has no fucking clue what he’s doing on a monetary level and neither does any of his ghouls and cronies.
Lowing interest rates on the eve of a recession has traditionally been a smart move. Much better than the Bush/Greenspan '06 decision to raise interest rates as the housing crisis began to spiral.
But he’s plowing all this free money into a jobless crypto/tech bubble. Inviting enormous inflation in tech hardware and electricity, while these companies hemorrhage a bunch of jobs they have decided they don’t need anymore.
This isn’t just Trump. It’s an economy wide death spiral that Trump’s being bribed into fueling.
Yeah this is essentially the end of neoliberal capitalism. We discovered that removing market regulations just males companies invest in unsustainable, short term schemes. What we are witnessing is the end of the ouroboros.
What does FED stand for?
https://en.m.wikipedia.org/wiki/Federal_Reserve
Although an instrument of the U.S. government, the Federal Reserve System considers itself “an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms.”[
That’s the Fed. What about the initialism FED?
Fucking Every Dollar
Misspelled.
Not Federal Ederal Deserve?
If Trump takes over the FED, the US economy will go into an absolute tailspin and depression.
I think you’re completely underestimating what Trump taking over the FED could do. he could literally print arbitrary amounts of money and spend them however he wants. it would basically make money meaningless, and we’d probably go back to trading goods-for-goods after a while, but short-term, it would give trump unlimited economic power and that is a very very very frightening thing.
For all of two seconds before the shit collapses.
Congress could end this now. Call your local republican congressman and hold their feet to the fire.
The one that isn’t running for reelction, is extremely rich, and has never listened to me or even called/emailed me back.
Ted Cruz for me
Besides setting interest rates:
In 1932, Congress gave the Federal Reserve the power to lend money to “any individual, partnership, or corporation” during “unusual or exigent circumstances.” The Fed used the emergency-lending provision to make a few modest loans during the Great Depression. The power then lay dormant until the 2008 financial crisis, when the central bank issued hundreds of billions of dollars in loans in an effort to rescue major financial institutions on the brink of collapse. During the height of the coronavirus pandemic, the Fed went even further, offering trillions of dollars in loans not just to big banks but to corporations, small businesses, nonprofits, and even city governments
And:
Perhaps even more alarming, control of the Fed would give the president a powerful weapon for punishing his enemies. The Fed is the central node of the U.S. financial system. Every major bank in the country holds a master checking account at the Fed, which they depend on to make and receive payments, manage their reserves, and access credit. The central bank, in turn, operates as the country’s main financial regulator: It determines whether banks are in compliance with existing laws on financial risk management and illicit transactions, for example, and has various ways to enforce that compliance, ultimately backed by the threat of cutting off access to the financial system altogether.
The tools Trump has used so far to bend institutions to his will, such as withholding federal funding, are powerful, but they pale in comparison to the power of debanking.
The downsides are basically unlimited. Skew energy markets to kill green energy, make the market look strong while hiding inflation data, scaring the world off the USD as a reserve currency.
Money, no matter how much of it you have or believe you have is only as valuable as everyone believes it to be.
It’s a modern day religion.
As soon as enough people lose faith in it, money becomes absolutely worthless.
You could get to the point of saying you own all the money … but if no one believes the money had any value any more, all that money no longer matters.
Wealth exists because we all believe in this world wide system of money and finance. If enough people stop believing or investing in it, all that wealth instantly disappears.
And his biggest enemy ar the United States. Because he will absolutely destroy the economy if he gets his hand on the money machine.
Besides this, everyone seems to forget that the plan is to make Trump’s crypto company World Liberty Financial the (only) company to spread the mandated official US stable coin.
Something he will fully have power over as a private citizen because it is arranged to be outside of government control … so every transaction will put money directly in trump’s pockets.
And by controlling the stable coin he can deny his enemies transactions (payouts) at will.Correction: reward a few friends, possibly protect some others, and destroy literally everyone else
It’s not an infinite money pit and everyone in power who thinks thats what they have winds up with them and their country broke
This time next year he will be enjoying daily dives into a literal pool of gold coins, à la Scrooge McDuck, and his craven creatures in red hats will still be marveling how he is for the common man.
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i fucking warned about this
Most of the experts who have worked within the Fed or studied it closely have never contemplated what could happen if an institution with so much unchecked power came under the control of one man.
I literally talked about this 4 months ago.
Basically, if trump gets a hold of the central bank, it’s over. The only way stopping arbitrary trumpian outcomes then is to completely de-dollarize the world (!!!). Imagine what that means.
to be honest, i have been a fan of a (slow) de-dollarization for many years now. it’s just rapidly becoming way more urgent all of a sudden. we’re not even remotely there yet. there is still way too much dependency on the dollar for so many things. we need to change that. but changing that would require change in so many things, including a broad overhaul of worldwide neoliberal agenda.
neoliberalism is already on the decline worldwide, but there’s still a long way to go.
Money isn’t real.
This is only true in the abstract. Yes, you are technically correct. Money only has value because a large enough group of people agree that it does.
But money is a shared token that describes the value of someone’s time and effort which can be exchanged for goods and services. It’s a common thing that can be bartered that everyone will accept. It’s an incredibly useful thing for a society to have.
Don’t almost all financial people agree that there needs to be some bottom level distribution to work? Cause it would seem the people hoarding all the wealth don’t understand if they have enough of it it’s actually worthless?
This is also correct, but a different problem.
If there isnt enough money moving in circulation, it typically means that people are saving it for hardship rather than spending, which is in turn a sure sign of a poor economy.
The rich assholes at the top have been able to basically trust that smarter people will handle policies to prevent a major depression. Anyone that was old enough to remember the last one is dead now. Anyone that lives quarter to quarter doesn’t care about market conditions 90 years ago.
More like 100 years ago
The bank that holds my mortgage sure seems to think it is.
I say let him have it. I wanna watch it all burn to the ground.
I don’t, I fucking live here and I’d like my money to be worth something next week!
I already started moving what assets I could out of the country at the start of the year.
