Many people hoped that Donald Trump would oppose the Federal Reserve with his presidency, but that hope should be gone by now.
To his credit, candidate Donald Trump was actually critical of the Federal Reserve. He gave vocal support for an audit of its books and operations. He correctly pointed out that the economy is a big fat ugly bubble held up by its artificially low interest rate policy. He correctly pointed out that Janet Yellen, the Federal Reserve Chairman, was keeping interest rates artificially low for political reasons. He correctly criticized the hideous national debt of 20 trillion. He correctly pointed out that Hillary Clinton’s team was stacked with Goldman Sachs bankers. However, time has told it was all just for show.
President Donald Trump hasn’t said a single negative word about the Federal Reserve. In fact, he’s been giving them praise. The Trump administration said the Federal Reserve is doing a good job and that they respect its independence and power. Trump said that he likes and respects Janet Yellen and may keep her as chairman. Trump celebrated as the Dow Jones stock market index breached 20,000, essentially taking credit for the big fat ugly bubble. Trump appointed several Goldman Sachs bankers to his cabinet including Gary Cohn, former COO of Goldman Sachs, as his economic chief economic adviser and Steven Mnuchin, former CIO of Goldman Sachs, as his Treasury Secretary. Trump espoused the Keynesian economics nonsense of debt-fueled “pump priming” and proposed adding over 7 trillion to the national debt.
That means it’s business as usual when it comes to the Federal Reserve, debt, inflation, and economic bubbles for Trump. Nothing has changed from his predecessors in this regard. His campaign rhetoric was just political pandering for votes. It served to cool off the public’s angst and sucker them back into the statist left/right paradigm with false hope once again.
Placing your trust in politicians is a fool’s game. With the exception of a very few, such as Ron Paul, they are all sociopaths seeking to control and rule you by force. The good news is that we don’t need to beg politicians to get the job done. We can take responsibility and do it ourselves. Educate yourself, educate others, and stop using the Federal Reserve’s fake money and their zombie banks.