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hey welcome to Crossroads look people often say that the Federal Reserve is neither Federal nor really a reserve but there are some things going on right now that could actually Mark a significant change in this semi-private organization that you know prints our money and sets interest rates interest rates affect everything from how much we pay for the mortgages in our homes to credit car debt and any kind of loans really including government debt and this alongside infl often caused by the Federal Reserve printing more money which they always do is often framed as a kind of hidden tax on the American people it’s money we pay it eats away at the value of your money often without realizing we’re even paying it paying it and what’s not as widely known is that this isn’t technically being done by a government agency it comes through the Federal Reserve which is again not actually Federal technically which has some overlap with the government of course but that is usually kept at arms length but all of this could soon change at least allegedly former president Donald Trump is being accused of plotting a takeover of the Federal Reserve Wall Street Journal reported that some of his allies have put together a highly secretive P 10-page document outlining a new vision for the Federal Reserve now Wall Street Journal had the exclusive on this let me show you what they had to say they said former Trump Administration off officials and other supporters of the presumptive GOP nominee have in recent months discussed a range of proposals from incremental policy changes to a Longshot assertion that the president himself should play a role in setting interest rates meaning of course the Federal Reserve it says a small group of the president’s allies whose work is so secretive that even some prominent former Trump economic AIDS were not aware of it has produced a roughly 10-page document outlining a policy vision for the Central Bank the Federal Reserve according to people familiar with the matter it says the group of trump allies argues that he Trump should be consulted on interest rate decisions and the draft document recommends subjecting fed regulations to White House review and more forcefully using the treasury Department is a check on the Central Bank it says the group also contends that Trump if he returns to the White House house would have the authority to oust Jerome Powell who he technically appointed as Fed chair before his 4year term ends in 2026 it says the people familiar with the matter said though Powell would likely remain On The fed’s Board of Governors briefly of course they mean that Powell is technically out 2026 if Trump gets back in now the article goes on to note that it’s not clear whether Trump is actually aware of this effort but it also notes that it does appear here Trump is looking into some influence over the fed and you know he was before technically was pressuring Powell and also its interest rates you know one way or the other now that could also be something as simple as Trump for example appointing a new Fed chair like removing pow and appointing somebody else and the concern they’re raising is that he might put somebody in place who might serve this purpose who would consult with Trump for example if they want to change interest rates and this is actually something something important this ties into one of the fundamental building blocks of modern America not traditional America the role of the Central Bank in our currency remember the Federal Reserve is what prints the money in your pocket they’re called Federal Reserve notes they’re not printed by the treasury Department they’re from the Federal Reserve what is technically a private private organization that it has again some agreements with the government to be able to print our money set interest interest rates and let’s say manage the economy in certain ways where they can for example raise interest rates and cause uh for example an eating away of maybe economic benefits which Trump accused them of doing or lower interest rates to make you know bad fiscal policy not hurt as much like they’re accused of doing under Obama now remember also this is important when Donald Trump was president and this is goes into it he was accusing the Federal Reserve reserve of blunting the positive effects of his economic policies because they were raising interest rates Trump was saying remember that he would create a 3.5% economic growth he actually exceeded that remember Obama was like you know what magic wand do you have to make that happen and Trump actually exceeded it he actually did it but he accused the Federal Reserve of raising interest rates in such a way that most Americans never felt the benefit of that even though the economy was technically very good it did not affect us as much because the Federal Reserve by Rising interest rates ate away at the benefits we would have otherwise received at least that was the accusation Trump had now others pointed out the FED seemed to have done the opposite for former president Barack Obama they kept interest rates near zero when Obama was in office so that the economy felt better than it would have been otherwise now the accusation was that the Federal Reserve was doing this for political reasons that was what Trump was saying that’s what a lot of opponents to the Federal Reserve was saying and they were saying that it was trying to make Barack Obama look good when he was in office on the opposite side of it meaning again that there was some politicization right make Obama look good make Trump look bad by messing with interest rates and ironically the whole argument around politicizing the Federal Reserve what is what makes us all controversial regardless of which side of the issue you’re on the alleged secret PL lot of Trump’s allies to have the White House and Treasury Department play a role in how the FED sets its interest rates is being accused of a plan to federalize the fed and Trump’s accusation the Fed was using interest rates already doing it politically was also around concerns the Fed was doing this in the first place and they believe that maybe that government oversight would fix that now of course this wouldn’t actually violate the law and this is where it gets a little technical with the Federal Reserve the whole idea of keeping the federal government out of the decisions at the Federal Reserve is just a so-called Unwritten Norm it’s just how they do things it’s not technically law and some have argued the US Department of Treasury maybe should play a stronger role in managing the US dollar and setting interest rates and again because these things impact just about all of us why would you let a private business do it but it’s also concerned that if a president or you know appointed official were to have that level of power then a wrong move could have a devastating effect on the US dollar and the global economy by extension of that and there’s even a deeper worry of course that if an Administration let’s say Biden or Trump or Obama or Clinton right that if there’s an Administration coming in and they have the ability to set interest rates then they may do it in such a way that benefits them during their time in office but would set things up for short-term gain to make themselves look good but then leave an economic time bomb whoever comes in next these are of course the different sides of the debate now again there are also concerns that this type of political interest is already in place and this is where the argument currently is now Trump has been accusing Fed chair Powell for example of using interest rates to help the Democrats in fact he’s saying they’re trying to help Biden get reelected using interest rates in other words he’s accusing the FED of making its decisions with our money not based on what’s good for the economy but instead based on a political agenda let me show you what Trump had to say in February during an interview with Fox’s Sunday morning Futures Jay Powell the FED chairman is talking about a soft Landing do you believe we will see a soft Landing well I think he’s uh going to do something to probably help the Democrats you know I think if he lowers interest rates but you have the potential of having massive inflation again because the Middle East could drive up the price of energy you know energy has so much to do with it and the Middle East again the bombs are dropping all over the place and the ships are starting to get hit and hit hard uh if that happens you’re going to have tremendous spikes in the price of oil and if you do that you’re going to have big inflation he’s not going to be able to do anything but it looks to me like he’s trying to lower interest rates for the sake of maybe uh getting people elected I don’t know so you think he’s political he’s just going to cut rates to helping I do I I think he’s political so this is where things get a little more complicated now critics of the alleged Trump move to bring in some government oversight of the FED they’d argue that Trump is setting the stage to politicize monetary policy and on Trump’s side the argument is that the FED is again already doing this that they’re already acting in partisan interests and that bringing in government oversight would help ensure the FED is not messing with their money to achieve some kind of political goal now there have been some findings that back the concerns that Trump raised I’ll be talking about that more after a quick word from our sponsor experts agree one of the best ways to protect against Financial uncertainty is to diversify your portfolio learn how physical gold and silver can secure your retirement funds from today’s economic challenges with a gold Ira from American Hartford gold you can Safeguard your wealth with no penalties or taxes when you transfer your current qualifying retirement accounts call now and our precious metals Specialists will send you a free information kit no cost or obligation American Hartford gold a trusted industry leader with an A+ from the Better Business Bureau has a five-star rating from thousands of happy clients whether you getting physical precious medals in a gold Ira or delivered to your doorstep we offer only the highest quality gold and silver for your peace of mind we also offer a no fee buyback commitment a low price guarantee along with free shipping and free insurance so don’t wait call the number on your screen today and secure your financial future [Music] welcome back now we’re talking about the Federal Reserve which is neither Federal nor Reserve former president Donald Trump is being accused of plotting a takeover of the FED according to the Wall Street Journal now critics of the alleged Trump move bring in some of course government oversight to the fed and they’d argue that Trump is setting the stage to politicize monetary policy now on Trump’s side the argument is that the fed again is already doing this they’re already acting in political interest and that they’re arguing of course it’s not clear whether Trump is directly involved in this or this just people of course trying to write some of the agendas but they argue that maybe bringing in government oversight would help ensure the FED is not messing with their money to achieve some kind of partisan agenda now there have been some findings that back the concerns that Trump raised last month for example O’Keefe Media Group OMG they published a secret recording of a principal Economist at the Federal Reserve saying that the FED is in fact using its powers to push political and social agendas watch and Trump was President he wanted to stimulate the economy right but he wouldn’t do it and he started raising interest rates doing the opposite that Trump wanted so I mean so the feeling is this that like we don’t want Trump to be in the in government right arel HMO principal Economist with the Federal Reserve says Jerome Powell wants to go down in history as someone who quote held the line against Donald Trump unquote he’s doing for the Legacy he wants to be a Remembered in history as like as somebody who held the line against like like Trump and like somebody who like helped the economy so he wants to preserve his legacy as someone even though he’s Republican on paper Democrats don’t love him yeah because he’s responsive maybe like like under under poell the FED has changed to think about Equity issues like racial issues think about wealth inequality as part of the Mand as part of the we following think about climate change so you know at least according to this member of the Federal Reserve board when Trump was President he wanted to stimulate the economy but Fed chair Powell wouldn’t do it now in fact Powell did oppose you know did the opposite they say by raising interest rates which as I noted earlier had the effect of eating away the benefits that Americans may have felt under Trump’s economy otherwise and usually that policy gets passed off as the FED trying to keep the economy steady right they’ll claim that they want the economy and the dollar to be stable they don’t want the values to be going up and down all the time which would of course cause shock waves in the global market given that the US dollar is the world Reserve currency now debatably those shock wavs are happening anyway in fact due to inflation and some of the current policies ironically the fed and also just a big government spending at play but the undercover video changes the narrative quite a bit now there’s the allegation the Fed was intentionally messing with interest rates to hold the line against Donald Trump now the Federal Reserve principal Economist in that video he denied his statements afterwards when James o’keef questioned him about it but there’s also the other side of this now the claim that fed cherp pal wanted to be remember is having held a line against Trump could also be interpreted as Powell having resisted pressure from Trump to change monetary policy and that’s the other side of the argument right now you might remember in 2019 when Trump was pushing the Federal Reserve to bring interest rates to zero which again they had it like that under Obama and there were rumors that he would eventually try to fire fed Cher pal this is what Donald Trump wrote on social media this is him on Twitter at the time in September of 2019 Donald Trump wrote quote the Federal Reserve should get our interest rates down to zero or less and we should then start to refinance our debt interest cost could be brought way down while the same time substantially lengthening the term we have the great currency power and balance sheet he said the USA should always be paying the lowest rate no inflation it is only the naivity of J Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing a once in a-lifetime opportunity that we are missing because of Bon heads Trump said now look of course the context was similar at the at that time is kind of similar to what it is right now basically at the time Trump was also accusing the FED of acting politically and critics at Trump were accusing Trump of trying to politically influence the Fed so both sides kind of accuse the other of the same thing but some of Powell’s fincial decisions since then are actually coming under scrutiny part of this is because of the problems in the E economy that we’ve been facing currently and also that he’s been forced to raise interest rates under Joe Biden by quite a lot in fact now you might remember him raising interest rates under Trump was blamed by Trump as eating away at the economy damaging of course the economic benefits you may be feeling otherwise of making houses less affordable of making cars less affordable of Bank corrupting the government because again we pay massive amounts of interest on our debt and should America really be paying interest on our debt in the first place that was the issue Trump brought up maybe we shouldn’t but he said the FED now under Obama did the opposite under Barack Obama they kept interest rates around zero which helped the Obama’s Obama’s economy so you know pal raising interest rates under Biden now to try to Stave off serious economic problems has been painted in a very similar light now some even turn the blame on Trump in fact their suggestion that Powell should have raised rates more but that Trump’s pressure kept him from doing that although that’s a debatable point to make you know given that much of the problem came from covid lockdowns covid bailouts like multi-trillion dollar bailouts they were doing and also the aftermath of all of that not to mention just heavy government spending overall foreign aid deals like sending hundreds of billions of dollars to different countries and similar programs since then not to mention the problems with the banks where I mean honestly people kind of forgot this already but very recently several Banks had to get bailed out there were close to runs on the bank that happened recently uh this is AP in June of 2022 outlining some of this they said that inflation has proved higher and far more persistent than he or the FED staff Economist had ever foreseen they’re talking about Powell of course they saying that at a policy meeting last week Powell announced an unusual last minute switch to a bigger interest rate hike than he had previously signaled and Then followed with a news conference that many economists described as muddled and inconsistent they say that thanks to a once in a century pandemic the first major European war in decades Russia Ukraine and soaring gas and food prices caused partly maybe by the fact that they shut down domestic production that’s another issue issue that the FED they say has limited power to effect they say that Powell could become the First Fed chair since Paul vulker in the early 1980s to Grapple with what they call stagflation which is a word they were using at the time which has kind of been disappeared and they say they call it a miserable combination of slow economic growth and high inflation there’s no way out of it they said struggling to curb the worst inflation outbreak in four decades po last week engineered a three4 of a point increase in the FED short-term interest rate the largest single rate hike in a quarter century and further in they State the fed’s hike raising interest rates will make it more expensive for many consumers and businesses to borrow which slows everything down of course but they say that yet Powell’s explanation was faulted by many fed Watchers while some complaining with some complaining that he had failed to articulate a coherent and consistent policy Biden ironically his administration are kind of blaming the FED for some of this and notes further in the fed’s huge rate hike and Pal’s comments renewed concerns among economists uh where about where he has taken the Federal Reserve most analysts have sharply criticized Powell uh the Powell fed for waiting too long and this is where they get to Trump for waiting too long to tighten credit when inflation took off last year and warn that it’s now having to raise rates so fast as to risk tipping the economy into recession remember this was 2022 they say that he should have immediately taken action around 2021 which would have been kind of like the mid era of Co you know the co pandemic and so on right now aside from the Fallout of covid though there’s also just the reality of government spending and growing national debt overall and not to mention interest rates on that debt which we’re paying more in interest rates than we are on our military currently I’ll be talking about this though only on Epic TV our uncensored streaming platform uh before we jump though my new documentary Weapons of Mass migration is out this Thursday not Friday it’s Thursday May 9th and now in it I’m going to expose how you know the CH how the open border policies actually work because this is something that’s been left off the table for a lot of us now I’m sure a lot of you have seen the videos for example of illegal immigrants being released on buses they’re the big white buses and you see people with face masks just pouring off of them onto the streets of the United States we know it’s happening we know that for example people are being dropped off on buses at these different migrant shelters there’s videos of them in New York and videos of them in Chicago and videos of them in probably whatever state you’re living in this is something we’re watching take take place but if you ask well who are the bus companies who is running the migrant shelters who is facilitating this how does the system work you’re not going to be given any clear answers on this and if you turn on the TV and you see these M you know I’m sure everybody’s seen them by now you see these migrant Caravans this long line of people you know shoulder toosh shoulder marching down these wide open roads allegedly heading to the United States people might wonder what is actually happening how are these things starting who’s facilitating them are they getting money we’ve heard about it uh what is the process I set out to find the answers to these questions I went down to Panama I went into Mexico I went of course to Texas in the border and California in the border and what I found was that there is a system in place to run this entire operation and in fact our own government is part of this agreement there’s an agreement with the United Nations to facilitate these operations I don’t know why the American people are not being told this I don’t know why it’s not being announced more clearly I don’t know why people are being kept in the dark about it and in fact we’re being told the opposite that they’re blaming like you know Texas for busing people we’ve been misled frankly and we’re not having a proper discussion over the real cause of this issue we’re not being told that our own tax dollars are paying for it which they are now this documentary is extremely important you’ll see it on Thursday again 8:30 p.m. eastern time that’s May 9th and that’s going to be only on Epic tv.com this documentary I believe can change our discussion on what’s really going on with legal Mass migration now you can find more about the documentary by clicking the link in the description below or in the live chat and it’s going to be groundbreaking I’m not just exaggerating either let me show you the trailer before we jump an unrelenting stream of immigration non nonstop nonstop according to statistics around 7.2 million illegal immigrants entered the United States under President Joe Biden alone they have United Nations facilities here and the people pushing this are leading people to their death to what extent is the United Nations facilitating the Border crisis they’re throwing rocks they’re being overridden by International Powers we are not authorized to talk it is a humanitarian business now and they said oh yeah these are the debit cards giving these debit cards to the immigrants why all the clo of dagger why are we being so stealthy about this and some of these people have gone on record and publicly talked about this people close to Barack Obama it was 12 million people on the path to citizenship and eventually Vols I I’ve been researching of course what’s happening but I want to know why it’s happening [Music] we’ll see Chaos on a on a global scale until America is extinguished and the power shifts completely to the east [Music]
Video Title: Trump Allegedly Has Secret Plans to Federalize the Federal Reserve
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Video Date: 2024-05-07 08:57:45
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