Midwest Chick's Place

(A.K.A. Non-Original Rants)

–Co-opting good stuff from all over the ‘Net and maybe some original thoughts—ΜΟΛΩΝ ΛΑΒE

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Another reason to end the Fed

Besides the fact that it shouldn’t exist in the first place and the present chair is a total tool, they don’t model the idea of good stewardship of public funds very well.

Exhibit A for the prosecution–$2.5 Billion (yes, with a B) to renovate their headquarters. They were approved for $1.9 Billion (yes also with a B) in 2017 (and why that happened, I have no frickin’ idea).

So the Trump administration is taking Powell to court for perjury and he’s also suspected of committing fraud (really, no shit.. fraud in DC…).

Prominent Republicans this month said Powell, in office since 2018, could be prosecuted for allegedly lying to a Senate committee about luxury features, including private VIP dining rooms and an outdoor terrace.

And here’s the thing. All of this was approved by a committee called the ‘National Capital Planning Commission’. Trump re-packed the commission with his folks last week as well.

I’m all about historical buildings and all and know that they often need a lot of love due to deferred maintenance, but these are only from the 1930s. In the scope of DC, not that old. And it seems to be an ego-project for Powell as well.

End the Fed, oversight the hell out of the renovations, and put a different agency in there.

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Midwest Chick

8 responses to “Another reason to end the Fed”

  1. wv citybilly Avatar
    wv citybilly

    Give me a list of the shareholders of The Federal Reserve, and I”ll show you at least half of the problems with this country.

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  2. B Avatar
    B

    Gotta ask who approved that funding in 2017 too…

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  3. Texas Dan Avatar
    Texas Dan

    I read this reno is costing more than the palace they are building for the sportsball team in Nashville.

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  4. Nemo Avatar
    Nemo

    There is no provision for a Federal bank in the Constitution.

    It’s only purpose is to lend money to the government which they, along with the U.S. Treasury, print out of thin air.

    Almost ALL of the modern day government monetary problems with this country have arisen as a direct result of Wilson’s folly.

    I know that’s an over simplification, but many believe it’s the cause of the $37T and climbing debt we face that can never be paid back.

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  5. Texas Dan Avatar
    Texas Dan

    Nemo, you can’t expect them to fund forever wars and the Great Society with real money after all.

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  6. Matthew W Avatar
    Matthew W

    “Gotta ask who approved that funding in 2017 too…”

    Congress…………………………

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  7. Midwest Chick Avatar
    Midwest Chick

    wv–Only half?

    B and Matthew–They self-approved the renovations. The Fed skims money from the banks to fund itself. So it’s a drain on the system, like a parasite.

    Texas–Pretty much!

    Nemo–I think the Founding Fathers warned against a central bank.

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  8. MrLiberty Avatar
    MrLiberty

    End the Fed, gives us sound currency to spend as the Constitution demands, and allow the FREE MARKET to set the cost of money (interest rates) as it does for most everything else. No politics, no manipulation, no government corruption. What a concept.

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