Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (1228165)	5/8/2020 1:55:45 PM
From: RetiredNow	Respond to of 1588485

I don't know if you are a US citizen or not, but you may not understand how our country works. Control over the "weights and measures", in other words our currency, as described in our Constitution was a power delegated to Congress. Congress has the duty to provide oversight. Instead what they did was delegate that power to the Fed. Since then, Congress continually says that the Fed should remain independent. That is a clear abdication of duty, as per our Constitution. The result has been that the Fed, which is a loosely affiliated collaboration between large public banks and the Fed Chairman, acts with impunity to print dollars and central plan and manipulate the economy with the primary underlying goal of protecting and enriching the biggest banks and their cronies. This is contrary to all of the intentions of the Constitution. Now, Presidents in the last 100 years are all too familiar with the Fed's power to corrupt our system, not just our currency, but our economy, and our stock market. Because they have power to manipulate our stock market, though printing money, buying bonds, and interest rate manipulations, it also means they have the power to prop up an ailing economy with powerful short term juice, right before an election. That means the Fed has the power to manipulate elections. Presidents know that. It's why many, if not most, Presidents have taken the tack of appointing their own favorite Fed Chairman. When that doesn't work, they cozy up to the Fed. If that doesn't work, then they outright threaten the Fed Chairman. This is not new. It has been done many times. In fact, many Fed watchers claim that the Fed's QE3 propped up the stock markets right before the election that lead to Obama beating Romney, to secure Obama's second term. Trump knows all this and he knows that a strong stock market and economy leading up to November will improve his chances to win. So blame Trump all you want. He is doing what all Presidents do. The real root cause is that the Fed should not exist, or at the minimum should be severely restrained to dollar price stability relative to a basket of other currencies or better yet to gold. Congress has the Constitutional authority and mandate to oversee the Fed, but they don't do it, because Congress is derelict and no one really understands how damaging the Fed is to free markets and ultimately to our Democracy. If it were me, I would end the Fed's ability to manipulate interest rates and perform QE and I would establish and Amendment to the Constitution on Fed limits and Congressional balanced budgets. As you know, none of that will happen, because we have a combination of idiots running this country from top to bottom who either don't know how finance and money work or who are getting rich off of it, so they don't care to change things. The 99% are the people who are worse off for it in the long run.