/biz/ - Business & Finance

>>52677650
Despite being a republican he was cool up until this year. He really wooed and won over us democrats. Now he turned dark and is sucking the dicks of people like Ted Cruz and Rand Paul, and fucking us all over

>>52677650
He's in an impossible situation, the grand wizard who is supposed to cure the life tree but secretly magic isn't even real and we're all fucked

>one man has the potential to destroy billions of dollars of wealth with his words, or god forbid he had a bad lunch

the absolute state of """""""""""""Capitalism""""""""""""""

>>52677887
I kind of agree in one sense, but disagree in another.

He doesn't have the tools to do anything else as far as the fed's monetary policy. Demand destruction AKA high rates is all he can do.

However, there are other tools that congress could bestow upon the fed, by expanding it and expanding it's powers, which would allow it to save the US economy without targeting worker's wages. Also without using awful things like reverse repos. But republicans won't consent to those expansions of the fed. Because they hate the fed.

They hate the fed because it's government, and represents the power of the people.
Republicans want power for the private industry. They want power for the wealthy.

So, Powell is a republican, and when he testifies before congress, which he periodically does, he still advocates against expansions of the fed and the acquisition of new tools to save the US economy without fucking over workers.

Also, there are other policies congress could pass to mitigate inflation, such as price controls, windfall profits taxes, things like that. Democrats support these policies, republicans oppose them

>>52677941
>They hate the fed because it's government, and represents the power of the people.
ehh, not quite

>>52677980
Yes, that's why republicans want "small government". They want less things in the purview of the people and their power to vote, and more things under the control of the rich. That's also why they just broadly oppose democracy

>>52677650
Its not him, its the elites that order him.

They are artificially dumping stocks and preparing for the last blow off top of the decade.

Inflation is way over 10%. If they told you the real numbers, gold ant btc would skyrocket. They need to accumulate more before destroying the fiat system.

War, inflation, covid, balenciaga and twitter beefs is used to distract you from whats going on behind the curtains.

You should have started buying by now. Get ready for a 10-20 year bear market after the blow off top

>>52677941
>They hate the fed because it's government, and represents the power of the people.
What a good house NIGGER you are. Didn't know 4chan took food stamps, otherwise NIGGERS like you would have no business being on here.

>>52678128
OK listen to me, I'm going to show you that you don't know what you're talking about. We'll focus on just the 1st statement:
>Its not him, its the elites that order him.
OK?

Nobody "orders" Jerome Powell except congress. And nobody orders congress except voters.

You, as a voter, are Jerome Powell's boss. Nobody else.

You elect the people who appoint him, and who can remove him.

It is that simple.

This is how government works. Everything is controlled by voters.

The federal reserve is not private, no matter how much false rightwing propaganda you have absorbed. It is a federally chartered part of the US federal government. And everyone there is appointed by elected representation. They work for you, not anyone else. That's not just how the fed works either, but in fact how ALL government works

>>52677650
Dangerously based.

>>52678132
OK well you can seethe all you want but you're never going to take away American voter's right to exercise control over the nation's banking industry by abolishing the federal reserve.

It's never going to happen. People are never going to let you do it. No matter how much you want to serve the interests of private bankers, you're not going to succeed.

And also that's a deliberately false definition of "inflation", which factually has nothing to do with money printing. "Inflation" is strictly a measure of supply side prices which are affected by a great number of factors

Not his fucking problem

>>52677941
What a twisted bunch of hogwash. The Fed is neither Republican or Democrat and they never have been. They are a privately owned, privately controlled corporation. Supposedly, they are accountable to Congress, but Congress never holds them to account, and never will because they know the Fed has them by the balls. The Fed has no accountabilty, especially to voters or "the people." The Fed certainly doesn't care one bit about "the people" because "the people" have no power over them. None.

>>52678191
Money printing = inflation. That's all it is. The act of printing money is the inflation itself, not the prices rising in response to increased money supply.
Kikenesians can seethe all they want but it is what it is. Can't change objective reality, nigger.

>>52678243
Yup OK you can keep saying stupid shit all you want, it's never going to make it true.

>>52678191
you are a brilliantly subtle troll

>>52678214
The federal reserve isn't privately owned. It's not owned by anyone. It's part of the US federal government, just like any other part of the government. It's accountable only to voters. And that's why rightwingers hate it. Precisely because it's not private, and because it's under the control of the people, rather than the rich

>>52678165
It's just coincidence that Fed chairman Bernanke and the CEO of Goldman Sachs Blankfein were roomates in college

>>52678310
Uh huh yup, that is like the definition of a coincidence, and a thing that is totally, wholly irrelevant, and not suspicious or bizarre or remotely noteworthy in any way in the minds of sane people. Yeah. Like literally that is the least suspicious and straight up schizophrenic thing you could potentially think

>>52678273
It's as "Federal" as Federal Express.

>>52678336
Nope, Federal Express is a private company. The federal reserve is a part of the US government. This isn't a matter of debate, or opinion, or something that has some grey area, or two sides to it. You and everyone else on the right who states this is stating something deliberately false

>>52678273
You are completely pulling shit out of your ass. Give me one example of Congress holding the Fed accountable. It has never happened and never will. None of our elected politicians will even stand up to the Fed in any meaningful way. I'll give you an example of a time that Congress very clearly should have held the Fed accountable. The Fed openly admitted to insider trading. Jerome Powell himself admitted he used Fed assets to buy the very same municipal bonds that he owned privately. Congress allowed him to get away with that scot-free. Lots of other Fed presidents admitted to doing the same thing, but they were allowed to just resign and keep their illl-gotten millions. If you or I had done something like that, we would be in handcuffs. The Fed obviously mishandled "the pandemic" and caused excessive inflation, violating their primary directive. Instead of holding them accountable, Congress unanimously reappointed Powell. Tell me one person running in Congress who has any chance of reforming the Fed. They don't exist because the Fed is above the law.

>>52678425
No matter how many walls of retarded fake propaganda you post, it's never going to change the fact that the federal reserve is not private. It's part of the US government. It doesn't work for anyone but voters, and it isn't accountable to anyone but voters. And you're never taking it away from us. No matter how much you whine, and post giant walls of endless misinformation, you're not taking our right to vote on America's banking sector away from us as voters. So go serve your billionaire masters in some different, new way.

>>52678452
Fed President Bostic admits to insider trading:
https://www.cnn.com/2022/10/14/business/bostic-trading-violations-fed/index.html
The Fed is not part of the government:
https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks
So I guess now you tell me CNN is Republican and the Fed themselves are publishing misinformation about themselves?
Anyway, I think I've proved my points. You have a good day.

>>52678452
Congress is not even able to audit the fed, They are unaccountable to the pubblic, and only represent their coffers

>>52678452
>it isn't accountable to anyone but voters
>And you're never taking it away from us
>giant walls of endless misinformation
>our right to vote on America's banking sector

PFFFFFFFFFHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHA

brother, what fucking reality do you live in? it is obviously not this one

>>52678560
There's no "admission of insider trading" in that story, or anything horrible and terrible like you're pretending. And the federal reserve is not private. It is not a matter of debate or opinion. Nothing you posted on the other end of your link suggests that it is. Nor will there ever be anything to suggest it is, because it is not. It is a part of the federal government.

TLDR nothing in either of the links you posted say anything even remotely close to the things you claim they do

>>52678632
>>52678582
The federal reserve is a part of the US federal government. It's not private and it's only accountable to congress AKA voters. There's no grey area or matter of debate about this. It's not something "there's two sides" to. It's just a simple fact.

And you're not going to take it away from us. You're not going to take away our right to vote on the US banking industry

>>52677844
>He really wooed and won over us democrats.
fuck off you stupid liberal tranny

>>52677650
at least he has the guts to do something painful and unpopular

>>52678777
Sorta. The Fed consists of both a federal agency (the Board of Governors based in Washington, DC) and 12 privately chartered regional banks. The banks are private, but the board is federal. JP was elected by those we elect.

>>52678777
what sort of emergency act by congress are you hoping for by engaging in this hegelian retardation

>>52678829
Nope, the individual banks aren't private either. They're controlled by the voters. The chairmen and deputy chairmen of each board of governors is appointed by the fed governors, which in turn are appointed by congress

>>52677941
>the fed
>government
>power of the people
You legit said that the 3 things which are mutually exclusive are the same, all while using reddit spacing and shilling for giving the fed more power, and all this while shitting on republicans, shilling for price controls, more taxes, etc.
I would have thought your post was bait and no one was this retarded and given you a based for the 10/10 bait, but if it's bait you fooled me, you're a 60 IQ monkey faggot and should leave this board before someone adds a 3 inch gap to your asshole.

>>52678847
You're not going to "abolish the fed" and take away our right to vote on the banking industry as voters. You're not going to take that away with your rightwing misinformation, conspiracy theories and ignorance. You're not going to take it away from us so that our nation's banking industry can be totally controlled by the wealthy, for their own profit. You've already taken enough away from us in America and you're not taking anymore.

>>52678899
Uh huh yup the federal reserve is part of the US federal government and represents our interest as voters. It's our right, as voters, to exert some degree of meaningful control over the banking sector in the US economy. And rightwingers want to abolish it so that the bankers can control everything with no regulation.

>>52678929
congress will also rob from you and your future generations as they have done for over half a century

>>52678889
Still privately owned. The chair is appointed but is a do nothing and the bank is still a private business. So I guess a gray area. The chair isn’t the owner though. It’s privately owned. It’s a business.

>>52678977
Nope. Not privately owned. No grey area. And it's our right as voters to have a say in the nation's banking industry. So back off with your deliberate misinformation.

>>52678974
Nope, they're our elected representation. You don't like that? Too bad. The world doesn't revolve around you and your 3rd grader IQ tier rightwing libertarian stupid ideas, which only exist to serve the interests of a small handful of very rich people

>>52679033
open your eyes bud, we are being gutted. and you want to give more power to those who have done the most damage

>>52678258
>it's never going to make it true
He said that money printing causes inflation, what are you trying to say? that it doesn't?
This is basic shit a monkey would understand though, if tomorrow it started raining gold coins, then the price of gold would go to 0 and if you get paid 5000 gold coins a month it still won't buy you shit because the shop owner would rather put buckets in his backyard to collect the golden rain than give you a carton of milk for your gold coin...

ITT: Retards falling for a C Tier troll top kek

>>52679098
>This is basic shit a monkey would understand though
Surprise that your rightwing, overly simplistic view of things is wrong.

Inflation is a measure of supply side prices, which is affected by many things. The amount of money printed being only one of a great many factors, and certainly by no means the greatest one. And money can also be printed endlessly, in certain situations, without adding to inflation. Although that scenario is more theoretical and less practical, and has to do with wealth inequality (which is a key feature of the US economy). In short, none of you know what you're talking about. You're low information, uneducated, misinformed people spreading rightwing misinformation that exists to disempower voters. Disempower people. And empower a small handful of wealthy people under capitalism

>>52679096
That's your own right to vote, you moron. The congress is your own right to vote. There is literally nothing more clear-cut empowering to you as a citizen than your own right to vote. Hands down. Your own right to elect your own representation to run your government. There's nothing more blatantly empowering to yourself and your people. So if you oppose that right, then there's nothing anyone can say to you. You're a mentally ill schizo incel NEET the sort commonly found on /pol/

>>52679153
There are voluntary actions which exist outside of government force. Not every action is decided by vote, especially when it comes to economic activity

>>52677941
>They hate the fed because it's government

Is anyone gonna tell him?

>>52678940
>federal reserve is part of the US federal government
No it isn't, there is a reason your company pays taxes to pay you, you pay taxes on your salary, then you pay taxes to buy anything, and your company pays you a lot less because they pay different kind of taxes. Then you get taxed through inflation too.
The national debt is not someone lending you money, it's the fed printing money and buying government bonds with the printed money, aka it prints the money and lends it to the government, and the government (treasury) pays back that loan with INTERESTS, and it does it through tax collection.
Now say you work monday to friday, well on monday, tuesday, wednesday and thursday you work to basically pay the interest on that printed loan, and on friday you work to feed yourself and pay rent.
If the money is printed, why do you need to put in physical effort to pay it back?
It is slavery, the families who own the federal reserve are mostly jewish.
There is a reason the 3 biggest crypto exit scams were done by jews: Kerpeles (Mt Gox), Mashinsky (Celsius) and Bankman-Fried (FTX), and none of them went to jail for it, meanwhile for Bitconnect and Terra (Kumbhani the founder of bitconnect is indian and Kwon Do the founder of Terra is korean, both are fugitives and being pursued by interpol).

>>52679143
>Surprise that your rightwing, overly simplistic view of things is wrong.
I'm not even American so I don't give a shit, I'm a senior software engineer at a faang company in europe, and have a masters in math.
You can explain a fucking blackhole in a simplistic way, the reason you think money is more complex that this is because you don't understand it yourself, you're watching a magic show and think the magician is doing something extremely complex instead of just leaving the ball in his hand 3 minutes ago because it can't be that simple right?
Educate yourself, there is a reason few people like your country, you guys took your time to join WW1 and WW2, and did it to profit from our countries, accumulated all the gold in the world and made your USD the world's reserve currency, we went along with it because you had the gold to back it right? when we found out you didn't you just dropped the gold standard and we also went along with it to not go into a nuclear world war with you, but now it's getting ridiculous, you kill innocent people in other countries for oil, you then control the media to not talk about it, and you printing usd means that poor countries can't buy the same amount of food from you because their money reserve hasn't changed while your sellers now ask for more money for basic shit, etc.
So yeah I'm neither republican or democrat, there is proof that your current president is a pedophile, same for obama and clinton, and that the clinton kill people who are about to testify against them, etc. how the fuck is the fed being private surprising to you?
look at your biggest media and finance companies, check the lives of the owners and execs and which ethnicity they come from, check what is the jewish % in the US population, how do you explain it? check the study about them having a higher IQ and how it's ridiculous and a 2 year old can debunk it...

>>52678165
You don't know nothing, fool

>>52677844
>Now he turned dark
Normally you demos must like him even more now

>>52679176
>>52679190
>>52679304
>>52679374
>>52679433
The federal reserve is part of the US federal government. It's not private in any way, shape or form. Period. No matter how much rightwing misinformation you all spread. It's never going to make it real. Nor are you ever going to "abolish it" and take away our right as voters and citizens to exercise control over the US banking sector.

>>52679166
There are no words for how inexplicable it is that you're so many of you on this site are goddamn stupid you oppose your own rights to vote. And can't grasp why you need to have the right to vote, and need to have a say in your own society.

>>52677650
This dan is mangerous.

Dangerously based

>>52677941
>So, Powell is a republican, and when he testifies before congress, which he periodically does, he still advocates against expansions of the fed and the acquisition of new tools to save the US economy without fucking over workers.
>Republicans want power for the private industry. They want power for the wealthy.

How would "bailing out rich people with 0 interest loans" defeat the wealthy kek.

Like you put so much effort into this post I'm inclined to think it's genuine. How the fuck unironically do lolberals think GIVING TRILLIONS IN BAILOUTS TO THE RICH will stop the rich from getting richer? Like what the fuck is wrong with you that you don't understand the incongruence between your statements.

>>52677650
Literally never heard of this guy until today.
What makes him so dangerous...?

>>52679018
Holy shit jerome is that you? I cant imagine what kind of unholy shill nigger acts like this!!! You are a retard based on the simple fact that you believe that the right/left wing dichotomy is qualitatively different in any way. They are all absolutely gaping your asshole by shooing out retarded bills that line their pockets, all the while diluting the dollars purchasing power. And if you didnt know this, the only ones that have to pay for everything is US. We are given debt and our labor is extracted to pay the interest. Simple as. You are not considered when writing policy. No one publicly or privately gives a single shit about the population dumbass. You should have learned this a long time ago. We are on a one way track to economic destruction and it was all according to plan.

He's a Rockefeller tool, used to destroy Europe and coerce evert nations to keep using the Dollar.

>>52677650
Don't care, I'm loading up on SPY calls before he talks today.

>>52679587
The bailouts were passed by a republican president and a republican congress

>>52679549
the standards of voting are not rigorous enough for me to take it seriously. There are conditions where I would take voting very seriously

>>52677650
Now listen here, you.
Jerome has had enough of you losers' shit, all right. He's trying the best he can, and by God, it ain't easy, having had to deal with that orange clown and now this dementia patient. Guess what'd happen if he stopped propping up Jamie Dimon's dumb fuck rehypothecation and repo-schemes. That's right, dumb fucks: everything would collapse.
And then there's the dumb fucks in Congress. "Chairman Powell, is there no danger of the Fed's policies causing inflation and what will you do against it?" Geez whiz, I don't know, maybe I should go back in time and prevent Bretton Woods, Congresswoman Bitch.
Now buy some bonds you fucking spergs, he's sick of having to monetize the public debt by buying himself and pawning off the inflation to abroad. They are a good, safe, liquid investment and inflation will go away. Look, rates are already at 4%. 4%! Holy shit, what more do you people want? Are you going to gamble on your Peloton and your Bitcoins till you're 60?
Jerome is a good man and he'd like you to know that he has feelings too, so think about that next time you "shitpost" about him.

When a partisan retard shits up a thread, there is a 99% chance it's a Democrat.
Imagine supporting either side in 2015+7

>>52679669
I laughed, but you may have a good point. I can actually entertain the argument that maybe JPow really is doing the best he can to at least keep this train wreck on the tracks a little while longer, especially considering the obvious retardation from elected officials that he's forced to deal with constantly. I can't really say I would have done anything differently if I were in his shoes. Ever since Bretton Woods, a shit show has been baked into the cake, IMHO, and its not hard to imagine it having gone a lot worse than it did if the Fed had made different decisions. Its still an unbelievably corrupt, exploitative system, which is hidden purposefully from us, but it's not like anyone alive today were the ones to set it up. Even at worst, they've only been perpetuating it. They probably don't really have any idea how to dismantle this system without causing severe suffering for a lot of people for at least a little while. I sure don't have any idea how to do that.

>>52677844
>He thinks red team vs blue team is real.
*hint: It's the Jews. (I saved you 20 years of research)

>>52681036
He's not jewish. Nothing about any of this has to do with jews. The vast majority of the people in the congress aren't jewish, and there's never been a jewish president. So your antisemitic beliefs are false. Beyond a shadow of any debate, dispute or doubt. All of the pol rhetoric is false