❗️Jerome Powell just inadvertently confirmed that the Federal Reserve is a private org immune to US laws
(media.greatawakening.win)
💥 BANK COLLAPSE 💥
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Powell is wrong.
POTUS does have authority to fire any Fed member "for cause."
Whether or not a court would agree with the "cause" is another matter.
That assumes, of course, that the firing would be challenged in court.
Personally, I believe (though cannot prove) that the Fed chairman (and ALL the Fed Board of Governors) have no REAL power at the Fed, anyway.
I think he is a figurehead that is told what to do, and then comes up with claptrap to feed the numbskulls who are too lazy to understand how the Federal Reserve works.
ALL of the power of the Federal Reserve to print money -- which is the ONLY power that matters (interest rates are mostly meaningless) -- is controlled exclusively through the Open Market Operations, which are conducted ONLY at the New York Federal Reserve Bank branch.
Whoever controls that operation controls the entire Federal Reserve System.
This is why the NY Fed president is the ONLY position that has a permanent seat on the FOMC, and is why MOST of the Treasury Secretaries have been former NY Fed presidents.
The people who created the Federal Reserve, starting in 1910 (Rothschild, Rockefeller, Warburg, etc.) literally OWNED the shares of the TRUST that owned the Federal Reserve.
In 1927, it was converted from a business trust to a corporation, so that they would not have to constantly ask Congress for re-authorization every 20 years (which was a problem -- for them -- in the past).
When they made the conversion, they organized it to LOOK like it was owned/controlled by the member banks. And it IS owned by the member banks.
But John D. Rockefeller was famous for saying, "Own nothing; control everything."
CONTROL is what is important, NOT ownership.
My contention is that those same people (their descendents) still control it from the shadows, and THEY tell the Chairman and the NY Fed President what to do.
Trump COULD fire him, though that might trigger a legal battle. Clearly, Powell is arrogant enough to believe his power/role is beyond the president's ability to assert any control over him or the Fed.
I agree: END THE FED.