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Two things that are inescapable, are, death and taxes.

And if you dodge the taxes - here or anywhere - you'll face death in prison.

As did "tax expert" Irving Schiff, Peter's father.
 
There will be a new accord with the FED by the time Trump leaves office. The FED will be taking orders from the Treasury Secretary.
 
nickndfl said:
There will be a new accord with the FED by the time Trump leaves office. The FED will be taking orders from the Treasury Secretary.
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No they won't, not if Trump wants to live...JFK was a warning.
 
Fatrat said:
No they won't, not if Trump wants to live...JFK was a warning.
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Juxtapose that with how Trump suddenly discovered a passion for MOAR WAR, and a love for Gomer Graham...and suddenly Putin, a nice guy according to Old Trump, is now Literally Satan, according to New Trump.

Trump has either taken the warning, or he's gotten the brain-work poison the DS is planning on all of us.
 
Saw a rumor on X that Trump is supposedly considering Janet Yellen for Fed chair again. I hope that isn't true. Yellen sucks.
 
pmbug said:
Saw a rumor on X that Trump is supposedly considering Janet Yellen for Fed chair again. I hope that isn't true. Yellen sucks.
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Amazing how Trump supports his OPEN, OBVIOUS ENEMIES so much.

I can see how it goes: Ma Yellin promises to do ZIRP-Forever. Trump posts her.

Inflation takes off like a Mars probe. Yellin gets a lot of Fake-Nooze quoting, saying it's ALL TRUMP'S FAULT. For not being Wokey enough. For hating The Climate. For not wearing a Face Diaper.

And next you know, we have that Queens mud-race barmaid as Preezy Dint.

...stupid mudderpfukker....he just CAN NOT LEARN.
 

Kevin Hassett - Wikipedia

en.wikipedia.org

White House’s Hassett says 'happy to serve' if chosen as Fed chair​

WASHINGTON, Nov 30 (Reuters) - White House economic adviser Kevin Hassett said on Sunday that he would be happy to serve as the next chairman of the U.S. Federal Reserve if chosen by President Donald Trump.

Hassett's comments, which were made on Fox News' "Fox and Friends" program, came after Bloomberg News reported last week that he had emerged as the frontrunner to succeed Jerome Powell, whose term is set to end next year.

(Reporting by Jasper WardEditing by Tomasz Janowski)

Full article:

https://www.msn.com/en-us/news/poli...sen-as-fed-chair/ar-AA1RqSqD?ocid=socialshare
 
Well, don't look for positive change.

Trump (obviously) does not understand the function of interest, or the importance of incentivizing savers, in a healthy capital market. Of the need for a realistic cost of capital - to prevent mal-investment, such as yuuge stock-share buyback programs on low-cost borrowed capital. Turning equity, which includes a shareholder voice, into debt, which has no input. Only the Directors' whims.

That almost bankrupted GE 15 years ago, when interest rates started going up. And, is GE healthy, now? They've sold off most of their manufacturing divisions - appliances, lighting, locomotive-manufacture. I don't know if they still own their jet-engine line...

What they've kept is the money-changing side. GE Financial.

Point is, we can expect MOAR of that from a Trump-supported new Fed czar.
 
Jassert will be good. He was favored when Trump got into office.

In response to thhe savers comment above, those days are overand not coming back anytime soon. You need a gig that produces good income, live below your means and buy PMs as a substitute for savings
 
So, people can't save because the economy; and the economy won't allow people to save.

So that means we'll have an economy based on DEBT, not on THRIFT.

Thrift is freedom. You have money, to use in hard times, or to buy land or luxuries in good times. Or to give to your kids upon death.

Debt is slavery. Just watch all the non-Leftist Youtube commentators discussing the Stupid-ent Lone situation...people making reduced payments, and seeing their total amount owed RISE by the year. Or, look at car repossessions - $1000/month when the poor sap loses his job. Or Home Lones - $5000 a month for 30 years.

Were debt not so available, there'd be no loans like that. Which would mean the prices of these houses, which had appreciated 300-percent over the last 15 years...those prices would come DOWN.

We MUST return to sound money; but that's not going to happen with a President who thinks 0-percent is a good interest rate, and who abuses the Fed Chairman because he doesn't agree.
 

As regime change looms at the Fed, one candidate emerges as frontrunner for chair​

  • National Economic Council Director Kevin Hassett has been dubbed the clear favorite for the next Federal Reserve chair.
  • Asked Sunday about the situation, Trump told reporters aboard Air Force One, “I know who I am going to pick, yeah. We’ll be announcing it.”
  • Whomever the actual pick is will take over a Fed that is currently torn over the future course of interest rates and is facing calls for aggressive reforms.
President Donald Trump knows who he’s going to select as the next Federal Reserve chair but isn’t saying yet. Prediction markets have their minds made up, but the front-runner also is playing it coy.

While that part of the mystery appears ready to clear up in the coming weeks, what’s far less certain is the type of environment the new central bank leader will face at a potential crossroads for the U.S. economy.

National Economic Council Director Kevin Hassett has been dubbed the clear favorite, buoyed by a Bloomberg News report last week that handicapped the five-person race to succeed current Chair Jerome Powell, whose term runs out in May.

More:

 
Poor dumb Donald, he gets 1 pick out of how many voting members???
There are 12 voting members of the Federal Reserve's Federal Open Market Committee (FOMC): the seven members of the Board of Governors and the presidents of four of the 12 regional Reserve Banks who serve on a rotating basis. The president of the Federal Reserve Bank of New York always has a voting seat, and the other four voting spots rotate among the remaining 11 Reserve Bank presidents for one-year terms.

  • 7 members: of the Board of Governors

  • 1 permanent member: The president of the Federal Reserve Bank of New York

  • 4 rotating members: Chosen from the other 11 Reserve Bank presidents, serving one-year terms
 
^
Think this will ever happen? I don't. Probably have better luck spitting into the wind. But it does make for good talking points.
 
The payouts from the FED were given to cover the bank losses from their market manipulation.
 
searcher said:

Kevin Warsh - Wikipedia

en.wikipedia.org

I believe Warsh is the front runner to replace Powell.
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Update

Trump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell​

President Donald Trump on Friday named Kevin Warsh to succeed Jerome Powell as Federal Reserve chair, ending a five-month odyssey that has seen unprecedented turmoil around the central bank.

The decision culminates a process that officially began last summer but started much earlier than that, with Trump launching a fusillade of criticism against the Powell-led Fed almost since Powell took the job in 2018.

More:

Trump nominates Kevin Warsh for Federal Reserve chair to succeed Jerome Powell

President Trump named Kevin Warsh to succeed Jerome Powell as Fed chair, ending an odyssey that has seen unprecedented turmoil around the central bank.
www.cnbc.com
 
Thoroughly underwhelming choice IMO.
 
Powell just takes his old seat back, Raphael Bostic is leaving...Last vote 10-2, next vote 9-3.
 
I am beginning to believe the FED really needs to go.
 
pmbug said:
Thoroughly underwhelming choice IMO.
Click to expand...
I know nothing about the kid...except that at age THIRTY-FIVE, FFS...he has no perspective. I have memories, clear memories, of many years before he was born. He was TWO when the Dual Airbags came into the off-white house.

He never KNEW honest money or open markets. He probably doesn't understand what they ARE, or why they're tied to our snowballing economic degradation. I know I didn't...I was about 40 or so when I finally put it all together. If poor Unca Walt were here, he could recount our discussions...also, another libertarian free-marketer, Zimm...a Texas cop.

Up until those discussions, I just took it as given that fiat-currency was NECESSARY in a modern economy. Currency elasticity. The classic Keynesian argument, taught in schools and colleges as proven fact.

This kid doesn't have even the maturity I had then, and probably never these discussions. I don't care how many degrees he has...that's his level of brainwashing.

Yes, the Fed needs to go. It will only go in a calamity, however.
 
When you learn about him, you'll see he's just another compromised cog in who married into the good old boys club
 
Viking said:
Kevin Warsh? He is 55.
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Hold it.

I read he was 35. A glowing profile...how he'd achieved so much so quickly.

W...T....F...?

(edit) just looked him up on Wokepedia. Yup, birth year 1970.

That will teach me to run my mouth (typing fingers) without learning all the fax.

Just the same...if he's a former market-interest guy (as I'd heard this evening) and now is all about CUTTING...just shows he's only political. "Pick me, Mister Donald, PLEEEZZZEEEEE...."
 

Opinion piece on Warsh.

Kevin Warsh

Last week, President Trump nominated Kevin Warsh to be the next Fed Chair.
stayathomemacro.substack.com
 
The story about the lucky pencils made me laugh. If you spent any time at the track you'll understand why.

Why Trump’s Federal Reserve Pick May Surprise Him​

Kevin Warsh learned his earliest lessons about politics while selling pencils at a racetrack.

As a high schooler in upstate New York, Warsh spent his summers working odd jobs at the Saratoga Race Course, the storied horseracing track frequented by New York’s upper-crust clientele. After a few summers setting up beer kegs and delivering ice as a barback, Warsh secured a promotion to sell programs to race-goers near the entryway to the track. At the stall where he worked, Warsh developed a nifty sales trick: When patrons came to buy programs, he would also sell them a “lucky pencil,” along with advice on which horse to bet on in the big race.

More:

 
What's the old saw? When the shine-boy is giving you stock-trading tips, you know the market's in a bubble and about to crash.

So when the kid who's reduced to selling pencils, outside the gate, offers you a "Lucky Pencil"...enquiring minds would wonder why, if it were, the kid wouldn't just use it himself, and bet himself rich.

But then, gamblers aren't what you'd call, logical minds.

I guess this is the Captured Mediuh's way of making this guy look like a normal working kid. In SARATOGA? Sure. Just a little village in poor, benighted New York State.

...where they just happen to have a race track, and huge quantities of "horse people" with huge amounts of money, required to keep, race, admire, be around, horses.
 

TODAY A FEDERAL JUDGE BLOCKED TRUMP FROM INVESTIGATING THE FEDERAL RESERVE.

Read that again. A judge just told the President of the United States he is not allowed to look inside the books of the institution that prints your money.

Why? What’s in those books that a federal judge would risk his entire career to protect? Here’s what happened in the last 72 hours.

Trump’s DOJ issued subpoenas to Jerome Powell and the Federal Reserve Board. First time in history. They wanted transaction records from 2009 to 2024. Within hours — Judge James Boasberg stepped in and blocked everything. Called it “government overreach.”

The same Judge Boasberg who oversees the FISA court. The same court that approved the illegal surveillance of Trump in 2016. The same judge. The same system. Protecting the same people.

$9.7 trillion moved through the Fed’s emergency lending programs between 2008 and 2023. No audit. No oversight. No names.

Trump wanted the names. They said no. Now ask yourself — while the judge was protecting the Fed, what else happened?

2,200 Marines deployed to the Middle East. 9 drone strikes hit the UAE. 50,000 US troops now in the region. The KC-135 shot down. Two terror attacks on American soil.

All in the same week the President tried to open the Fed’s books.

Coincidence? The Fed isn’t a government institution. It’s a private bank owned by families whose names appear in the same files Trump has been unsealing since January. Epstein’s files. Soros’s accounts. Obama’s transfers. They all lead to the same building on Constitution Avenue.

Trump told the Joint Chiefs on March 11: “The war isn’t overseas. The war is on Constitution Avenue.”

The bombs falling on Tehran are destroying the offshore accounts. The subpoenas are targeting the onshore accounts. They blocked one. They can’t block both.

FALLING CROWN — Phase 5 is the Federal Reserve.

The judge bought them days. Not weeks. Not months. Days. They blocked the subpoenas. They activated sleeper cells. They hit a tanker. They attacked a synagogue. All to protect one building. It won’t be enough.
 
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