Trump To Reclaim Fed Reserve From Rothschild Family

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The gold market could have at least one new ally within the Federal Reserve after U.S. President Donald Trump nominated Judy Shelton to be a board of governor of the U.S. Central bank.
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Trump’s second nominee is Christopher Waller, who is currently the vice president and director of research at the St. Louis Federal Reserve.

According to some market analysts, President Donald Trump’s nominees should have no problem being confirmed by the Senate. Shelton received senate approval for her current position.
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https://www.kitco.com/news/2019-07-...-Ally-Judy-Shelton-For-Fed-Governor-Spot.html
 

rblong2us

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Greenspan was a gold supporter before and after his term at the Fed ...

gold was in the bear market in 1987-2001, i.e., for the most of Greenspan’s tenure. It should not be surprising, as Greenspan had a reputation for being strongly anti-inflation (and indeed inflation diminished significantly compared to the 1970s). At the same time, Greenspan firmly led the Federal Reserve through several events with major economic repercussions, including two US recessions, eagerly providing liquidity to the financial markets (such a stance was later named Greenspan put). Actually, he was given a share of the credit for the longest official economic expansion in U.S. history (March 1991–February 2000).

Gold started to soar in 2001, when Greenspan – in response to the burst of the dot-com bubble, September the 11th attacks and various other corporate scandals, initiated the series of interest rate cuts that pushed the federal funds rate in 2004 to unprecedented then level of 1 percent. Greenspan’s loose monetary policy at the time overlapped with an expansionary fiscal policy conducted by George W. Bush.

Greenspan served as the Fed Chair until 2006, but his impact on the gold market continued. The series of interest rate cuts from 2001-2004 helped to pump the real estate bubble, which burst in 2007, putting the world into the Great Recession in 2008. The financial crisis boosted the gold prices even more.

Before his service at the Fed, Greenspan was very close to Ayn Rand and the libertarian movement. In 1966, he even wrote a brilliant article titled “Gold and Economic Freedom” in which he emphatically stated that “Gold and economic freedom are inseparable”
 

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Greenspan lived through the days when the world understood gold was money. People growing up today have only ever known fiat money. It's going to be a rude awakening for a lot of people when fiat fails.
 

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Judy Shelton, one of President Donald Trump’s most recent picks for the Federal Reserve board, challenged an article of faith regarding the U.S. central bank in private comments to a bank executive last month: that it should operate free of political influence.

Shelton shared her views on monetary policy and the Fed with Beat Siegenthaler, global macro adviser for UBS Group AG, after speaking at an event on Oct. 18 in Washington on the sidelines of the International Monetary Fund annual meetings.

“I don’t see any reference to independence in the legislation that has defined the role of the Federal Reserve for the United States,” Shelton told Siegenthaler, according to a transcript of the interview.

Shelton confirmed she had spoken with Siegenthaler and a UBS spokesman declined to comment. The transcript was shared with the bank’s institutional clients, according to a person familiar with the matter.

If people were to read the law, “they would see that it demands that the Board of Governors of the Federal Reserve work hand-in-hand with Congress and the president to meet certain strategic economic goals for the U.S.,” Shelton added.

It is unusual for someone the president intends to nominate for the Fed board to speak publicly before the Senate considers her for the post, and even rarer for a Fed nominee to question the central bank’s independence. The remarks may complicate Shelton’s nomination, should Trump proceed to send it to the Senate. The White House has yet to officially nominate Shelton or another person Trump has said he intends to put on the Fed board, the St. Louis Fed’s director of research, Christopher Waller.

Some Republicans on the Senate Banking Committee, which would consider Shelton’s nomination, have expressed concerns about her to the White House, citing her unconventional views on monetary policy, according to people familiar with the matter. Shelton and Waller’s paperwork was expected to be sent to the Senate in September, but now may be delayed until next year as the White House waits for the candidates to complete ethics requirements, the people said.
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https://www.bloomberg.com/news/arti...elton-cast-doubt-on-central-bank-independence

Honesty isn't going to help her swim with the sharks.
 

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First a follow up on the Goodfriend nomination:

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President Donald Trump's move in late 2017 to appoint the Carnegie Mellon economist as a central banker ran into a dead end last year when the nomination died in the Senate.
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https://www.cnbc.com/2019/01/17/goodfriends-nomination-to-the-fed-appears-in-doubt.html
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Marvin Goodfriend, ..., died on Dec. 5, 2019. He was 69 years old.
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https://www.cmu.edu/news/stories/archives/2019/december/marvin-goodfriend-remembrance.html
 

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President Trump on Thursday announced his intent to nominate Judy Shelton and Christopher Waller to be governors of the Federal Reserve Board after senators rejected several of his previous choices for the central bank.

The White House formally announced Trump’s decisions to nominate Shelton and Waller six months after the president declared his intent to appoint them in a July tweet. It is unclear if Trump has submitted the nomination to the Senate, which is the first step toward confirmation.

The GOP-controlled Senate is likely to approve both Shelton and Waller to be Trump’s fourth and fifth additions to the Fed board. ...
https://thehill.com/policy/finance/...nces-intent-to-nominate-waller-shelton-to-fed
 

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Yeah I saw that.
Good news if Judy Shelton is approved.

But how long might she hold out with positive views on gold once appointed ?
 

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Republican lawmakers expressed concern about Judy Shelton, President Trump’s nominee for the Federal Reserve, casting doubt on the confirmation chances of a candidate viewed as a potential next Fed chair.

Ms. Shelton faced skepticism from both Republicans and Democrats on the Senate Banking Committee, with lawmakers questioning whether she would protect the Fed’s independence and pressing her about previous policy positions she had espoused, including a return to the gold standard.

“I’m concerned,” Senator Richard C. Shelby, Republican of Alabama, said after the hearing when asked which way he was leaning on her confirmation. Senator John Kennedy, Republican of Louisiana, and Senator Patrick J. Toomey, Republican of Pennsylvania, also expressed uncertainty about whether she would win their support.
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Because Ms. Shelton would need a simple majority vote to move onto confirmation by the full Senate, only one Republican would need to object to potentially dash her chances of moving forward. The committee has 13 Republicans and 12 Democrats, and it is not clear that any of the Democrats would support her bid.

“They asked substantive, tough questions,” Sam Bell, the founder of Employ America, said of the Republican senators. Mr. Bell’s group has been pushing for Fed nominees who are focused on lifting employment and has vocally opposed Ms. Shelton.

“The aura, after the hearing, is that there’s serious bipartisan skepticism,” he said.
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https://www.nytimes.com/2020/02/13/business/economy/judy-shelton-fed.html
 

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Yeah, she is not mainstream enough in her thinking ..........

Exactly what you need if you are going to be ahead of the herd.

So unless she supports the Ctrl+P approach she is a threat to 'stability'
 

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Well well...
The Senate Banking Committee is expected to mark up Judy Shelton’s nomination to the Federal Reserve next Tuesday, a signal she is expected to pass the panel along with Christopher Waller, another Fed nominee.

Shelton, whose nomination has run into Senate GOP opposition because of her unorthodox views, has been held up for weeks because of skepticism from Sens. John Kennedy (R-La.) and Richard Shelby (R-Ala.), two members of the Banking Committee.

Senate Banking Committee Chairman Mike Crapo’s (R-Idaho) expected notice of a markup for Shelton and Waller next week is a sign they have the votes to pass the committee, which has 13 Republican members and 12 Democrats.
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https://thehill.com/homenews/senate...ittee-to-take-action-on-embattled-fed-nominee
 

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It's hard for me to support anyone who is nominated to the Fed. That system is a snake pit. A nominee who is worthy of selection should be openly and boldly saying, "End the Fed! No ifs, ands or buts," which would immediately end their chances of being nominated. In other words, the Fed Res System is not going to be fixed from the inside.

Cleanse the inner vessel is not thinking that aligns with the plans of our oligarchs.

Kneel, troglodyte!
 

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The saga continues...

A group of former Federal Reserve staffers, including economists, lawyers and bank presidents, sent a letter to U.S. senators Thursday asking them to reject the nomination of Judy Shelton, one of President Donald Trump’s picks for the Federal Reserve Board.

... The letter, which is still open for signatures, was signed by 44 former Fed staffers as of Friday morning. The list included former vice chairman Alan Blinder and at least three previous Fed bank presidents, including Richard Fisher, former president of the Dallas Fed.
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The Senate Banking Committee confirmed Shelton’s nomination last month with a 13-12 party-line vote, despite a rocky confirmation hearing in mid-February, when several senators expressed concerns about placing the longtime Fed critic in a role that would give her a say on U.S. monetary policy.

Shelton’s nomination must now be approved by the full Senate, where the deciding votes may come from a handful of moderate Republicans. At least four Republicans would need to vote against Shelton to sink the nomination.

U.S. Senator Susan Collins of Maine and Senator Mitt Romney of Utah have both said they would vote against Shelton’s nomination. ...
 

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I was amused when I saw that letter

Theres an arrogance in the entitled class that is going to make their eventual wake up so much fun :)
 

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Judy Shelton, President Donald Trump’s controversial nominee for the Federal Reserve board, doesn’t yet have enough support in the Republican-controlled Senate to win confirmation, said Senator John Thune, the chamber’s No. 2 GOP leader.

Shelton -- who’s drawn significant criticism for policy views outside the mainstream -- remains a priority for the White House, Thune told reporters at the Capitol. Republican leaders will move forward on her nomination before the November election if she can gain the 51 votes needed, he said.

“We’re still working it,” said Thune of South Dakota. “It’s the Federal Reserve, it’s important so obviously we want to get it done. But we’re not going to bring it up until we have the votes to confirm her.”

The nomination would be blocked if four Senate Republicans join Democrats in opposing her. Two Republicans -- Mitt Romney of Utah and Susan Collins of Maine -- have said they won’t back her elevation to the Fed. Senator Lisa Murkowski, an Alaska Republican, “is still in the process of vetting her nomination,” spokeswoman Karina Borger said in an email. Tennessee Republican Lamar Alexander, who is not seeking re-election, hasn’t said how he would vote and spokesman William Heartsill declined to comment.
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Judy Shelton’s nomination to fill a vacant seat on the Federal Reserve Board “moved closer to confirmation Thursday after Senate Majority Leader Mitch McConnell set in motion the procedures needed to secure a final vote,” which could come “as soon as next week,” the Wall Street Journal reported. “Mr. McConnell’s decision suggests a high likelihood that she has the votes needed for confirmation, according to political analysts.”
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What a rollercoaster.
 

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It's on. It's off. It's on. It's off again...

Judy Shelton's controversial nomination to the Federal Reserve suffered a possibly fatal blow Tuesday in a key procedural vote in the Senate.

The upper chamber voted 50-47 against a move that would have advanced the nomination by limiting debate, typically a death knell because the opposition simply could block the vote from ever coming to the full floor.

The only avenue for Shelton to get through would be if Senate Majority Leader Mitch McConnell can get at least 50 votes together. Following the vote, McConnell moved to preserve his right to bring Shelton's name up again for consideration.

In case of a 50-50 split, Vice President Mike Pence would be called on to break the tie.

An effort to reconsider would be complicated by the Republicans losing a seat in the Senate when Arizona Democrat Mark Kelly takes Martha McSally's place after the Thanksgiving holiday. That would mean a Shelton vote likely would have to take place by next week.
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