Federal Reserve is an exclusive club
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Viking
Yellow Jacket
All I can say is, good luck with that.
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.
And if you dodge the taxes - here or anywhere - you'll face death in prison.
As did "tax expert" Irving Schiff, Peter's father.
No they won't, not if Trump wants to live...JFK was a warning.
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.
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.
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Kevin Hassett - Wikipedia
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
Viking
Yellow Jacket
I'd be happy to serve.
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.
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
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.
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- 288
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.
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.
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
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Kevin Warsh - Wikipedia
I believe Warsh is the front runner to replace Powell.
small correction... ManipulationS. The problem now is that money printing to bail them out makes the loses increase as much or even more...
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Kevin Warsh - Wikipedia
en.wikipedia.org
I believe Warsh is the front runner to replace Powell.
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:
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.
Viking
Yellow Jacket
Kevin Warsh? He is 55.
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...."
- Messages
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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:
Opinion piece on Warsh.
Kevin Warsh
Last week, President Trump nominated Kevin Warsh to be the next Fed Chair.
stayathomemacro.substack.com
The Fed needed to go in 1913.
Know this, if Trump by some miracle does manage to end the Fed, he'll have a week to sort out his affairs.
The Fed is gonna be with us as long as the dollar is.
sry.
sry.
I still have yet to find a new FRN note printed after 2017...