Friday 9 August 2024

Trump need not ask the private Fed for a say on interest rates. He can pass a a single law giving the US gov control of the Fed and the dollar to make America boom again as it did before 1913

 The US Federal Reserve was privatized with a single law in Christmas 1913 to avoid scrutiny.

The Federal Reserve can be renationalized with a single law. 

Money, the basis of business and the economy, can be free again like the roads used by cars, trucks and buses to transport economic goods and people back and forth to work and home are free. 

If American people and businesses had to pay one dollar for every mile they travelled, the US economy would also go soon go into debt, and go bankrupt.Yet, people and businesses do have to pay about one dollar for every ten dollars or even everyone dollars they use, hidden in the form of taxes, debt, interest and inflation to obscure the cost  to them of the privatization of the money supply and the Federa Reserve.

If Americans knew they were paying 10, 20, 50 cents for every dollar they used, they would refuse. So, the fraudulent scheme is hidden from them by a complicit media and Wall St who place their instruments in government using the trillions they earn from this fraud to perpetuate the fraud.

Trump does not need to ask the Federal Reserve for a say on interest rates.

He can pass a law to enforce what he wants. He can abolish the Fed Reserve, reinvent the Federal Reserve, declare Ben and Jerry ice cream tubs the new currency in the USA if he so wishes to, using the force of legislation.

The legislation just has to be in conformity with the Constitution and it is legal and lawful as long as it passes in Congress and the Senate.

The law just has to state that the US government and Treasury has the power over the legal tender, currency issued by the US central bank. Full stop.

https://fraser.stlouisfed.org/files/docs/historical/congressional/bankinglaw1913-1956_complete.pdf

https://www.politico.com/news/2024/08/08/trump-fed-powell-bank-2024-elections-00173299 

From its power over the US dollar and central bank flows the US government to fund its expenditure directly without resorting to taxes or private bank loans.

Private bitcoin with its wild swings untethered to the real economy is not suited to back up the Federal Reserve.  If Bitcoin backs the Fed and its value collapses suddenly, then the Fed will collapse.

The currency has to be backed by the totality of the output of the US economy comprised of c 400 million people to be stable and retain value.

If Jerome Powell and Wall Street do not cooperate in the renationalization of the Fed, then Trump can put them behind bars for ordinary sense fraud because that it what a privatized central bank is.

It makes economic stability, let alone prosperity, a priority, logically impossible. Privatized money is a systematic flaw, error, destroying an economy.

President Xi went to China s central bank and told the bankers what to do to make sure the Chinese remain prosperous and the economy booms. The Chinese central bank serves the people, not the private bankers and private interests.

https://www.reuters.com/world/china/chinas-xi-makes-first-known-visit-central-bank-sources-2023-10-24/

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