Trump on the Federal Reserve System
Saturday, September 10, 2016 by Jonathan R. Gibbons in
“They’re keeping the rates down so that everything else doesn’t go down… We have a very false economy,” Donald Trump on the Federal Reserve, September 2016
When it comes to our economy, there is no issue more important than Federal Reserve reform. The Fed is the cancer which rests at the core of our economic system. They played a major role in the housing crash in 2008 and they play an even larger role in manipulating and distorting our free market system by providing false wealth and credit. Their actions have created an economy of debtors who spend their lives paying fees to bankers to support their insatiable appetite for instant gratification. They are the reason we have a massive federal deficit and they are the reason the federal government is trillions of dollars in debt. The poor get poorer and the rich get richer because of the Fed.
How the Fed accomplishes all of this is beyond the scope of this short post, but one crucial concept to keep in mind is that the Fed is also a semi-public institution. The Fed’s Board of Governors are appointed by the President and approved by the U.S. Senate, but the various lower Board of Directors of their twelve district banks are appointed by large corporate banks and other special interests within the banking industry. This is not a conspiracy theory, it is the true structure of the Federal Reserve System; it serves the special interests and not the American people.
Hillary Clinton said that a president should never question or discuss the Fed. 63% of Clinton’s funding is from large individual donations, i.e. big corporate special interests. 15% of Trump’s funding comes from large individual donations. Trump also understands the above and wants Fed transparency. Clinton is funded by the big bankers and Trump scares them to death. I’m not saying you should vote for Trump, but at least he understands the sources of our economic woes and he terrifies the special interests.
