Regardless of how you feel about the Federal Reserve Board, I think we would all agree the construct of an autonomous central bank is outside the boundaries of our constitutional framework. Factually, the Sea Island financial group set up the Federal Reserve as a system of control over the U.S. economy that was completely unnecessary.
That same ultra-constitutional mindset of omnipotent power permeates the recent statements by FED Chair Jerome Powell, who now attempts to evade a Dept of Justice investigation by hiding behind the ruse of his non-elected office.
Last year, facing ridiculous cost overruns, Congress questioned Powell over the insane spending proposal by Powell for a new office building. Chairman Powell characterized the construction changes, that escalated the cost of the project from $1.9 billion to $2.5 billion, as ‘minor modifications.’ That’s $2.5 billions of taxpayer money.
A referral to the Dept of Justice was made [SEE HERE] following Powell’s testimony. Things got ugly quickly when President Trump, a builder and renovator himself, took exception with the scale and scope of the ridiculous spending plan.
In an effort to both use his office as a defense, and simultaneously weaponize the power of his position, Jerome Powell waits until Sunday evening to announce he is being investigated by the DOJ [SEE HERE], and then he claims it is political targeting.
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[Transcript] – “Good evening.
On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.
